“Wednesday, Mesoblast reported quarterly results and provided a business update. The company is making steady progress toward a registrational filing for remestemcel-L in pediatric acute graft versus host disease (GVHD), with a pre-BLA meeting expected later this year. Additionally, top-line results from an NIH-sponsored trial of MPC-150-IM in Class IV heart failure (HF) could be presented at a scientific conference in 4Q, and Mesoblast could utilize the therapy’s RMAT designation to pivot positive results into an accelerated filing. We believe the primary market opportunity for MPC-150-IM rests in Class II/III patients, and the company’s DREAM-HF trial remains on track to complete enrollment in 2018. With sufficient cash to support operations into mid-2019, we reiterate our Outperform rating and $16 PT.”
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Currently, the analyst consensus on Mesoblast Ltd is a Strong Buy with an average price target of $18.
The company has a one-year high of $7.79 and a one-year low of $4.74. Currently, Mesoblast Ltd has an average volume of 84.09K.
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Mesoblast Ltd. engages in the research, development, and market of pharmaceutical products. Its medicines target the cardiovascular conditions, spine orthopedic disorders, oncology and hematology, immune-mediated, and inflammatory diseases. The company was founded by Itescu Silviu on June 8, 2004 and is headquartered in Melbourne, Australia.