24/7 Market News Snapshot 19 December, 2024 – Mesoblast Limited American Depositary Shares (NASDAQ:MESO)

December 19, 2024

DENVER, Colo., 19 December, 2024 (247marketnews.com) – (NASDAQ:MESO) are discussed in this article.
Mesoblast Limited has made significant strides in the biotechnology sector following the FDA’s approval of RYONCIL® (remestemcel-L), a groundbreaking treatment designated for pediatric patients aged two months and older suffering from steroid-refractory acute graft versus host disease (SR-aGvHD). This approval marks a historic moment as RYONCIL becomes the first authorized mesenchymal stromal cell (MSC) therapy for any condition in the United States. The decision is grounded in compelling evidence from a Phase 3 clinical trial where around 70% of participants achieved an overall response by Day 28, demonstrating RYONCIL’s potential to significantly improve survival rates for this severe and often life-threatening disease.

In addition to the clinical success, Mesoblast has experienced notable market activity as its American Depositary Shares opened at $18.68 and are currently trading at $14.83, reflecting a robust 21.09% increase from the previous close of $12.25. The trading volume has escalated to 1.38 million shares, indicative of increased investor interest following the FDA news. Industry experts suggest that traders may find lucrative opportunities amidst this volatility, advising attention to support and resistance levels.

Dr. Silviu Itescu, Chief Executive of Mesoblast, expressed his enthusiasm for the approval, emphasizing the transformative potential of RYONCIL for children grappling with SR-aGvHD. Over 85% of trial participants completed the treatment without interruptions, highlighting its safety and tolerability. With an estimated 1,500 pediatric patients annually developing this condition post-transplant, RYONCIL is poised to become a pivotal therapy within transplant centers nationwide. Mesoblast remains committed to expanding its portfolio, pursuing further studies for RYONCIL and other innovative therapies targeting severe inflammatory conditions, reinforcing its leadership in the field of allogeneic cellular medicine.

Related news for (MESO)

NASDAQ and NYSE quotes and data are delayed 15 minutes unless indicated otherwise. Market data and exchange information are provided for informational purposes only and is not intended for trading purposes. Neither 24/7 Market News Editors, 247 Market News, or data and content providers shall be liable for any errors or omissions, delays, misquotes or other market information relayed in any press materials. You should Use Realtime data to conduct due diligence before investing or trading, and trading in any stock is risky you could lose all your money.