Mesoblast (ASX:MSB) had HotCopper users divided on whether or not the company’s fortunes are anything to worry about based on the nature of a Friday morning webcast, and, no doubt, the fact that the company has posted a loss of around US$100 million for the period.
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After bouncing back from share weakness in May when the price dipped below $2/sh, by and large, the company’s success for 2025 remains the FDA approval of Ryoncil. Other FDA approvals for the company haven’t proved as enthusiasm-generating.
But it’s not like the stem cell player is really going anywhere anytime soon – it’s got a fat stack of cash in the bank and an ASX market cap (or, valuation) of $2.7 billion seems to have become more or less reliable.
So I was wrong to say in May of this year the stock may have been “another Droneshield” – but by and far, what shareholders truly want to see is a pick-up in sales of its key stem cell product (Ryoncil) in the U.S. where it’s now free to be sold having passed all circles of regulatory hell. To remind, the company’s best-known product treats graft versus host disease.
The company is looking, though, to expand that customer base: its earnings materials included updates on the company’s progress opening up who can buy the drug (on U.S. insurance plans, don’t forget); to expand the drug to bone marrow transplant recipients; and to use it in inflammatory diseases.
Another drug, Rexlemestrocel-L, will ideally be used in degenerative disc disease.
MSB last traded at $2.19/sh.
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