Mesoblast Receives US FDA Approval for Mesenchymal Stromal Cell Therapy; Shares Hit Four-Year High

MT Newswires Live12-19 08:53

Mesoblast (ASX:MSB) received US Food and Drug Administration approval for mesenchymal stromal cell (MSC) therapy, Ryoncil, according to a Thursday filing with the Australian bourse.

Ryoncil is the only MSC therapy approved in the US for any indication and the only approved therapy for steroid-refractory acute graft-versus-host disease (SR-aGvHD) in children two months and older, the filing said.

SR-aGvHD is a stem cell transplant complication where a patient's disease doesn't respond to high-dose steroids.

Shares rose nearly 33% in morning trade Thursday and earlier reached their highest since December 2020.

Price (AUD): $2.63, Change: $+0.65, Percent Change: +32.83%

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