Mesoblast (MSB)

Business description

Mesoblast is developing adult stem cell therapies based on its proprietary MPC and culture-expanded MSC platforms. It has six late-stage clinical trials across four areas.

Stock data

Market cap.A$825.9m
Last closeA$1.76
High / Low (52 weeks)A$3.3 / A$1.1
Stock market listingAU
Forecast net cash (US$m)58.9
Forecast gearing ratio (%)N/A
TeamHealthcare
SectorPharmaceutical & healthcare

Price performance

%1m3m12m
Actual29.0442(10.9154)58.2843
Relative *24.9866(13.6121)46.5628

* % Relative to local index

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Company news

Durable Three-Year Outcomes In Degenerative Disc Disease After a Single ...

Wed, 15 Mar 2017 01:07:30 GMT

Mesoblast and Mallinckrodt Enter Into Equity Purchase Agreement to Exclusively ...

Thu, 22 Dec 2016 22:18:45 GMT

UPDATE: Oppenheimer Starts Mesoblast Limited (MESO) at Outperform

Wed, 30 Aug 2017 20:09:14 GMT

Mesoblast Outlines Potential Pathway to Accelerated Market Entry for MPC-150 ...

Wed, 23 Aug 2017 09:56:15 GMT

Clinical Trial of Mesoblast's Cell Therapy in End-Stage Heart Failure Patients ...

Thu, 28 Sep 2017 09:56:15 GMT

Y/E Jun Revenue (US$m) EBITDA (US$m) PBT (US$m) EPS (fd) (c) P/E (x) P/CF (x)
2015A 32.4 (98.0) (96.2) (29.99) N/A N/A
2016A 44.2 (86.3) (87.4) (0.20) N/A N/A
2017E 5.8 (81.3) (82.0) (20.59) N/A N/A
2018E 9.0 (80.3) (81.0) (18.92) N/A N/A

Last updated on 15/09/2017

Investment summary

Mesoblast cleared an interim futility analysis of the Phase III trial of its MPC-150-IM regenerative therapy in heart failure patients in April - over 400 of the target of 600 patients have been enrolled. In December Mesoblast granted Mallinckrodt Pharmaceuticals up to 9 months to exclusively negotiate commercial and development agreements for MPC-06-ID in chronic low back pain (CLBP) and MSC-100-IV in graft vs host disease (GvHD). Both of these products are in pivotal studies: MSC-100-IV has been granted Fast Track designation by the FDA and is due to report results from a Phase III in children with GvHD in Q417; a 360-patient Phase III of MPC-06-ID in CLBP is underway. Partner JCR Pharmaceuticals is marketing Mesoblast’s GvHD therapy in Japan following approval in 2015. Cash balance at 30 June of US$46m has since been boosted by a US$40m raise in July. Mesoblast also has access to a US$90m equity finance facility to extend its funding runway.

Last updated on 03/10/2017

Industry outlook

Mesoblast is the leading mesenchymal stem cell development company, with two platforms (MPCs, MSCs) and nine clinical candidates in Phase II and III. Alliances with JCR and Lonza underpin the key programmes.

Last updated on 03/10/2017

Key management

Company address

Level 39
55 Collins Street
Melbourne 3000
Australia
+61 3 9639 6036
View website