Australia's Mesoblast jumps as US FDA grants orphan-drug status to heart drug

Mesoblast

15/02/2024 01:27

** Shares of Mesoblast  MSB.AX  rise as much as 12.7% to
A$0.310, their highest level since Jan. 19     
    ** Biotechnology and medical research co says U.S. Food and
Drug Administration (FDA) grants co orphan-drug designation for
Revascor     
    ** Revascor is a drug for children with a life threatening
congenital heart condition
    ** Stock set for best day since Jan. 19, if trend holds    
    ** 7.1 mln shares change hands, compared with the 30-day
average volume of 2.7 mln 
    ** MSB down 11.3% YTD as of last close

 (Reporting by Adwitiya Srivastava in Bengaluru)
 ((Adwitiya.Srivastava@thomsonreuters.com;))