Mesoblast (MSB.AX) Shares Drop 46% Since The Last Year: Will The Stock Recover With The Recent Announcement ? Own Snap – Own Snap

The past two years were quite of a rollercoaster for Mesoblast as the stock hit its highest and lowest point just in few months. By July 1, the swing relatively leveled off reaching AU$ 1.985 with a 1.01% rise in shares since the last trading. A higher beta score of 2.58 stimulates fluctuations in the stock. Mesoblast is an Australian biopharmaceutical company that specializes in allogeneic cellular therapies. It develops treatment for spinal, cardiovascular, and oncological diseases. Their innovative therapy is based on mesenchymal lineage adult stem cells.

On June 30, 2021, Mesoblast has released an update on the treatment program for chronic low back pain diseases. The company is planning to get approval for rexlemestrocel-L from the US Food and Drug Administration (FDA). The firm has already ended its third Phase trial of the treatment with patients who have chronic back pain. If the treatment will get approved, Mesoblast will receive over US$ 112M after the product launch.

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Mesoblast (MSB.AX) Shares Drop 46% Since The Last Year: Will The Stock Recover With The Recent Announcement ? Own Snap - Own Snap