Mesoblast Says Ryoncil Net Revenue Increased 44% Year Over Year in September Quarter; Shares Hit 52-Week Low

MT Newswires Live10-16

Mesoblast (ASX:MSB) reported a 44% increase in net revenue from sales of Ryoncil and an 85% improvement in net operating cash spend for the September quarter compared with a year earlier, according to a Friday filing with the Australian bourse.

Net revenue for Ryoncil, a mesenchymal stromal cell therapy, increased to $28 million in the September quarter from $19 million a year earlier, per the filing.

The company said September saw the highest number of new patient starts per month, following expected seasonality from summer recess-related treatment scheduling that occurs every July and August.

Mesoblast shares fell 10% in recent Friday trade, hitting a 52-week low.

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