Mesoblast up as FDA grants rare pediatric disease tag to cell therapy

Mesoblast

19/01/2024 13:29

** U.S.-listed shares of Australia-based drug developer
Mesoblast Limited  MESO.O   MSB.AX  rise 9.3% to $1.88 premarket
    ** Co announced after market hours on Thursday the US FDA
granted its cell therapy, revascor, a rare pediatric disease
(RPD) designation
    ** The FDA grants RPD designation to drugs that treat
certain serious or life-threatening diseases which primarily
affect children, which makes the product eligible to receive a
Priority Review Voucher (PRV)
    ** PRV facilitates speedy review of marketing application
    ** Revascor is being developed to treat children with
hypoplastic left heart syndrome, a potentially life-threatening
heart condition, in which the left side of the heart does not
mature fully
    ** Stock fell 62.4% in 2023

 (Reporting by Sneha S K)
 ((Sneha.SK@thomsonreuters.com;))