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$425.5m
Last closeA$1.12
High / Low (52 weeks)A$3.6 / A$1.0
Stock market listingAU
Forecast net cash (US$m)79.4
Forecast gearing ratio (%)N/A
TeamHealthcare
SectorPharmaceutical & healthcare

Price performance

%1m3m12m
Actual(25.9)3.2(68)
Relative *(23.9)1.0(69.9)

* % Relative to local index

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Company news

Mesoblast limited moves to reassure investors

Mon, 04 Jul 2016 04:41:15 GMT

There could be more pain ahead for Mesoblast limited as credibility sinks

Tue, 14 Jun 2016 01:06:26 GMT

Here's why beaten down Mesoblast limited is making a comeback

Wed, 10 Aug 2016 03:33:45 GMT

Why have Mesoblast Limited shares soared today?

Wed, 15 Jun 2016 02:15:31 GMT

What Analysts Are Watching Mesoblast Limited (NASDAQ:MESO)?

Sun, 18 Sep 2016 12:25:47 GMT

Y/E Jun Revenue (US$m) EBITDA (US$m) PBT (US$m) EPS (c) P/E (x) P/CF (x)
2014A 25.1 (83.9) (75.5) (23.64) N/A N/A
2015A 32.4 (98.0) (94.9) (29.59) N/A N/A
2016E 44.1 (54.1) (53.5) (13.84) N/A N/A
2017E 7.1 (78.8) (78.8) (20.67) N/A N/A

Last updated on 18/08/2016

Investment summary

Mesoblast cut its cash burn by 15% in FY16 to US$90m, and guided for a further ~25% reduction in FY17, which will give it headroom to fund the Phase III heart failure (HF) trial that Teva relinquished in June. It has ~12 months of cash runway plus a US$90m equity finance facility, which will give a further 12 months’ runway. It expects to report interim analyses of three Phase III programmes by end Q117, including the HF trial. We lower our valuation ahead of these potential catalysts to A$1.5bn from A$1.8bn (A$3.84 per share from A$4.67), due to lower forecast uptake in HF and removal of two low-priority tier two programmes.

Last updated on 21/09/2016

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, Lonza and Teva underpin the key programmes.

Last updated on 01/09/2016

Key management

Company address

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