Mesoblast Ltd.

Mesoblast Ltd. is a clinical development company leveraging its proprietary core adult stem cell technologies, which include the Mesenchymal Precursor Cell (MPC) and culture-expanded Mesenchymal Stem Cell (MSC) platform technologies, Dental Pulp Stem Cells and expanded Hematopoietic Stem Cells. The company's cardiovascular and neurologic product pipeline is being developed in partnership with Teva Pharmaceutical Industries Ltd. Mesoblast Ltd's subsidiaries include Mesoblast Inc., Mesoblast International SA, Mesoblast Australia Pty Ltd and Mesoblast UK Ltd.

Expert Comments:

Jason Kolbert, Maxim Group (1/15/15)
"Mesoblast Ltd. announced yesterday the start of the Phase 3 trial in chronic lower back pain due to degenerative disc disease. . .the trial is designed with a composite endpoint that measures decreased pain, improved function and necessary medical intervention. . .we see this as good news that is within our expected time frame."

Kevin DeGeeter, Ladenburg Thalmann (12/12/14)
"On Dec. 11, 2014, Mesoblast Ltd.'s partner for development of mesenchymal precursor cells for cardiovascular disease, Teva Pharmaceutical Industries Ltd., held an analyst meeting to provide an outlook for 2015, including an overview of research and development priorities. We believe the presentation significantly derisks development of Mesoblast's cardiovascular franchise and removes a potential overhang from the company's shares."

Katherine Genis, Edison Investment Research (11/24/14)
"Mesoblast Ltd. plans to file in pediatric graft-versus-host-disease in 2016 in the U.S. Phase 3 trials started early this year for MPC-150-IM in congestive heart failure while Phase 3 trials for MPV-06-ID in low back pain are expected to start by 2014E. . .the company has also recently provided details to the market of its newly tiered product structure, whereby resources are being funneled into its key late-stage products."

Katherine Genis, Edison Investment Research (10/30/14)
"Mesoblast Ltd.'s product pipeline continues to mature as key milestones are met. . .the company expects first commercial sales of its adult stem cell therapies from the potential launch of MSC-100-IV in Japan in graft-versus-host disease. . .Mesoblast maintains a strong balance sheet, ending FY/14 with cash of AU$196.4M. . .by the end of this year, the company should have five active programs in Phase 3 (two of which are partnered) and four in Phase 2 studies (one partnered). . .we have increased our valuation of Mesoblast to AU$3.16B from AU$2.85B."

"The company that is potentially in the pole position in Japan at the moment, however, may be Mesoblast Ltd. The company inherited a relationship with Japan-based JCR Pharmaceuticals Co. Ltd. when, in 2013, it acquired the Prochymal (remestemcel-L or allogeneic, adult human mesenchymal stem cells) product portfolio from Osiris Therapeutics Inc. The Osiris/JCR partnership, which was put into place a number of years ago, had been stagnant until the reemergence of the Japanese market as an important one for the regenerative medicine sector. Now Mesoblast has "regenerated" that relationship, and announced on Oct. 1 that JCR would be filing a market approval application for Prochymal in Japan for the treatment of pediatric GvHD, following a similar approvals in Canada and New Zealand." read more >

Jason Kolbert, Maxim Group (8/26/14)
"Mesoblast Ltd. reported H1/14 results. The company spent approximately AU$81M and ended H1/14 with $196M on the balance sheet. . .we conclude that data, data, data are coming in 2015/2016, and we expect, based on robust Phase 2 trials, that the pivotal trials have a positive skew."

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