ASX-listed Mesoblast tanks after US FDA seeks more data for remestemcel-L

Mesoblast

04/08/2023 02:27

** Shares of Mesoblast  MSB.AX  slumps as much as 58.3% to
A$0.455, on track for worst day ever, if losses hold 
    ** Drug developer says it got a response from US FDA for its
Biologics License Application for remestemcel-L, used for
treatment of pediatric steroid refractory acute graft versus
host disease 
    ** MSB says US FDA requires more data to support the market
approval 
    ** Co says it will conduct a targeted, controlled study to
obtain the data needed to support approval 
    ** Stock hits its lowest since Aug. 10, 2005 
    ** Stock is the biggest percentage loser on the ASX All
Ordinaries index  .AORD 
    ** Stock has risen 25.3% this year as of last close 
    


 (Reporting by Navya Mittal in Bengaluru)
 ((navya.mittal@thomsonreuters.com))