UCL Stock
UCL Stock

Mesoblast Limited (MESO) experienced an increase of 5.57% in aftermarket. However, the last trading session concluded at $5.21 with a decline of 4.75%.

Financial Results & Operational Highlights – What’s the update?

On 23rd November 2021, MESO announced financial results and operational highlights for the first quarter of 2021. With Oaktree Capital Management, the company was able to successfully refinance and expand the senior loan facility. The new US$90 million secured facility includes a three-year interest-only period, following which 40 percent of the principal is amortized over two years, with the last payment due no later than November 2026.

Moreover, MESO engaged with the FDA to discuss remestemcel-potential L’s emergency use authorization (EUA) for the management of ventilator-dependent patients with moderate or severe COVID-19-related ARDS. Additional clinical research that demonstrated statistically good results in conjunction with the recently ended 222 patient trials, according to the FDA, might be enough to justify a EUA.

Now what?

The company is happy to announce a significant financial relationship with Oaktree Capital. It is a major global investment management business, as MESO helps bring the first product to market in the United States, as part of the five-year commercial strategic plan.

Refinancing and Expansion – All about it

On 21st November 2021, MESO reported that it has successfully restructured its current senior loan facility with a new five-year US$90 million facility granted by Oaktree Capital Management, L.P.-managed funds. As the company works on delivering its first product to the US market, they are thrilled to welcome Oaktree Capital Management as their new financial partner. Moreover, Oaktree has a track record of partnering with innovative firms, making it a great choice to help Mesoblast achieve its economic growth goals over the next five years.

What’s Next?

MESO is happy to be working with Mesoblast at this stage of its development. The company appreciates the portfolio’s strength as well as the important near-term milestones that might aid the firm in effectively commercializing its first product in the United States.

Fourth Quarter 2021 results – Latest updates

On 30th August 2021, MESO reported fourth-quarter 2021 financial results. MESO met with the US Food and Drug Administration (FDA) to discuss remestemcel-potential L’s emergency use authorization (EUA). This is done for the treatment of ventilator-dependent patients with moderate or severe ARDS caused by COVID-19.

Moreover, Mesoblast was notified by the FDA that a second COVID ARDS clinical trial would be required, which might offer a dataset to supplement the recently completed 222 patient clinical study and support a EUA. Lastly, MESO and Novartis have agreed to collaborate on the development, production, and commercialization of remestemcel-L, with an initial emphasis on the diagnosis of acute respiratory distress syndrome (ARDS).

LEAVE A REPLY

Please enter your comment!
Please enter your name here