U.S.-listed Mesoblast shares slide after US FDA rejects cell therapy for children

Mesoblast

04/08/2023 12:57

** U.S.-listed shares of Australia-based drug developer
Mesoblast Limited  MESO.O  fall 66.4% to $1.34 premarket 
    ** Co late-Thursday reported that U.S. FDA rejected its lead
candidate and cell therapy, remestemcel-L 
    ** Remestemcel-L is an investigational therapy for treating
children under 12 years of age with a type of complication that
occurs after a stem cell or bone marrow transplant
    ** Co was seeking approval for the therapy more than two
years after the health agency first rejected it
    ** MESO added the health regulator required more data to
support marketing approval 
    ** As of last close, U.S.-listed MESO stock was up 37.11%
this year  

 (Reporting by Pratik Jain in Bengaluru)
 ((Pratik.Jain@thomsonreuters.com;))