Australia's Mesoblast jumps on FDA designation for back-pain medicine

Mesoblast

09/02/2023 01:48

** Shares of drug developer Mesoblast  MSB.AX  rise as much
as 11.3% to A$1.330, their highest since Jan. 2022 
    ** Co says U.S. Food and Drug Administration granted
Regenerative Medicine Advanced Therapy designation for MSB's
"rexlemestrocel-L," developed to treat chronic lower back pain
associated with disc degeneration
    ** More than 4.2 mln shares change hands, compared with
30-day average volume of ~1.1 mln shares
    ** Stock up 37.4% this year, as of last close, vs 7%
increase in the benchmark S&P/ASX 200 index  .AXJO  
 (Reporting by Roushni Nair in Bengaluru)
 ((Roushni.Nair@thomsonreuters.com;))