Following the release of the results, Bell Potter Securities affirmed its $16 target for Mesoblast shares – which is close to three times the current trading price, which has recently hovered around $6.
In a research note, Bell Potter said the plan to conduct a phase II RA trial “adds another high-value, un-partnered programme to Mesoblast, given the high prevalence of RA globally, the US$12 billion global market for existing RA drugs, and the drawbacks of those drugs.”
Mesoblast is also investigating the use of MPCs to treat Type 2 diabetes, and entered the phase II trial stage for this project at the start of the year.
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Following the release of the results, Bell Potter Securities...
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