Australia's Mesoblast drops as Bell Potter cuts target price after key drug misses sales view
19/10/2026 04:11
BUZZ-Australia's Mesoblast drops as Bell Potter cuts target price after key drug misses sales view ** Shares of Mesoblast MSB.AX fall 9.3% to A$1.805, on track for their worst day since July 17
** Bell Potter ("buy") reduces co's FY27 Ryoncil revenue forecast by 18% to $203 million, and lowers PT to A$4.40
** Ryoncil is MSB's product for the treatment of steroid-refractory acute graft-versus-host disease in pediatric patients
** Biotechnology company on Friday reported September quarter sales from Ryoncil of $28 million, higher than last year's $19 million but missing Bell Potter's forecast of $40 million
** Bell Potter says fewer transplant surgeries contributed to miss, but bounce back in patient numbers since Sept could see improvement in Dec-quarter revenue
** Stock down 33.6% YTD
(Reporting by Shruti Agarwal in Bengaluru)
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