Australia's Mesoblast soars after FDA grants cell therapy rare pediatric disease tag

Mesoblast

19/01/2024 24:25

** Shares of Mesoblast Ltd  MSB.AX  up 26.4% at A$0.335, set
for best day since Aug 14, 2020, if gains hold
    ** MSB top gainer on the ASX all ordinaries index  .AORD  
    ** Biotechnology & medical research co says U.S. Food and
Drug Administration (FDA) granted its cell therapy Revascor
(rexlemestrocel-L) to treat a life threatening congenital heart
condition a Rare Pediatric Disease (RPD) designation
    ** Says RPD designation is granted by the FDA for certain
serious or life-threatening diseases which primarily affect
children
    ** Cos which receive approval for a rare pediatric disease
drug may be eligible to receive a transferable voucher for a
priority review of an application for another drug 
    ** Stock down 14.5% YTD, as of last close

 (Reporting by Ayushman Ojha in Bengaluru)
 ((Ayushman.ojha@thomsonreuters.com;))