why
Key financial highlights for the quarter
• Revenues were US$3.5 million, including US$2.3 million from TEMCELL® HS Inj.3 royalties on sales for SR-aGvHD in Japan, an increase of 7% on TEMCELL royalties in the comparative quarter last year
• Total Operating Activities resulted in net cash usage of US$19.8 million in the quarter, a reduction of 38% on the comparative quarter last year. Almost half of this spend was on remestemcel-L regulatory and manufacturing activities
• Mesoblast completed a refinancing of its senior secured debt facility with a new US$90 million five-year facility provided by funds managed by Oaktree Capital Management, L.P.
• Cash on hand at the end of the quarter was US$94.8 million, with up to an additional US$40 million available to be drawn down from existing financing facilities subject to certain milestones
Ann: Appendix 4C Quarterly Activity Report, page-4
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