Mesoblast up as co resubmits marketing application for systemic disorder drug

Mesoblast

01/02/2023 17:40

** U.S.-listed shares  MESO.O  of Australia-based drug
developer Mesoblast Ltd rise 12% to $3.7
    ** Co resubmits marketing application to FDA for its
investigational drug Remestemcel-L to treat children with a type
of graft versus host disease, a systemic disorder that leads to
inflammation in blood stream and tissue destruction post
transplantation procedures
    ** A graft versus host disease occurs when donated stem
cells, or the graft, see the healthy tissues in the patient's
body, or the host, as foreign and attack them    
    ** The resubmitted application contains substantial new
information as required by FDA in its complete response letter
received in September 2020 - MESO
    ** The resubmission will have a review period up to six
months from filing upon acceptance by FDA
    ** Stock has declined 12% in last 12 months
 (Reporting by Aditya Samal)
 ((Aditya.Samal@thomsonreuters.com;))