Australia's Mesoblast slides on discounted placement

Mesoblast

14/01/2025 24:38

** Shares of Mesoblast  MSB.AX  fall as much as 9.3% to
A$2.55, their largest intraday pct loss since Dec 20
    ** Stock hits lowest level since Dec 24
    ** The drug developer completes private placement to raise
A$260 mln ($160.73 mln)
    ** Placement issue price at A$2.5 per share, representing an
11% discount to stock's last close
    ** Co says funds to be used for the U.S. commercial launch
of its Ryoncil therapy for the treatment of graft-versus-host
disease, among others
    ** Stock down 15.2% YTD, including current session's moves

   ($1 = 1.6176 Australian dollars)
    

 (Reporting by Nikita Maria Jino in Bengaluru)
 ((Nikita.Jino@thomsonreuters.com;))