Mesoblast shares surge on key research program progress

Mesoblast shares surge on key research program progress


Shares in long unloved biotech Mesoblast surged on Monday on research results that analysts said represent a key "derisking event" for the company that could lead to the finalisation of partnering negotiations as well as access to the key US market sooner than expected. By the close of trading on Monday, the shares were ahead 10 per cent at $2.67, hitting 18-month highs and giving investors who recently backed a $US40 million placement which was priced at $2 extra reason for celebrating.



from Biotech News