Australia's Mesoblast eyes best day in 2-1/2 years after FDA update

Mesoblast

08/03/2023 24:49

** Shares of drug developer Mesoblast  MSB.AX  soar as much
as 23.2% to A$1.140 - set to mark their best day since Aug. 14,
2020, if current gains hold
    ** Co says the U.S. Food and Drug Administration (FDA) has
accepted its biologics licence application resubmission for
remestemcel-L
    ** Remestemcel-L to treat a major complication involving
bone marrow transplant following the treatment for blood cancers
and other conditions
    ** Co says if remestemcel-L receives FDA approval, it will
be the first allogeneic "off-the-shell" cellular medicine to be
approved in the US
    ** Stock hits highest level since Feb. 10; up for a third
straight session 
    ** More than 3.5 mln shares change hands, compared with the
30-day average of about 1.8 mln shares 
    ** Stock up ~6.3% this year, as of last close

 (Reporting by Upasana Singh in Bengaluru)
 ((Upasana.Singh@thomsonreuters.com))