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$402.4m
Last closeA$1.06
High / Low (52 weeks)A$4.0 / A$1.1
Stock market listingAU
Forecast net cash (US$m)87.8
Forecast gearing ratio (%)N/A
TeamHealthcare
SectorPharmaceutical & Healthcare

Price performance

%1m3m12m
Actual(47.8)(58.8)(73.9)
Relative *(46.1)(59.1)(71.5)

* % Relative to local index

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Company news

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

Tue, 14 Jun 2016 01:06:26 GMT

Next Weeks Broker Price Targets For Mesoblast Limited (NASDAQ:MESO)

Mon, 27 Jun 2016 05:46:30 GMT

CRASH! Mesoblast limited shares plunge 42%

Tue, 14 Jun 2016 06:22:30 GMT

Mesoblast limited trading halt leaves investors guessing

Fri, 03 Jun 2016 01:52:30 GMT

Mesoblast limited trading halt leaves it on the edge

Wed, 01 Jun 2016 05:01:43 GMT

Y/E Jun Revenue (US$m) EBITDA (US$m) PBT (US$m) EPS (fd) (c) P/E (x) P/CF (x)
2014A 25.1 (83.9) (75.5) (23.64) N/A N/A
2015A 32.4 (99.0) (94.9) (29.59) N/A N/A
2016E 22.0 (81.0) (76.6) (21.55) N/A N/A
2017E 23.4 (80.4) (77.8) (20.46) N/A N/A

Last updated on 13/05/2016

Investment summary

Mesoblast's pipeline continues to mature. The company announced impressive early results from the first cohort of its Phase II trial of MPC therapy in RA patients refractory to biologics. The data are comparable to response rates seen with TNF alpha-biologics in first-line therapy and better than approved JAK inhibitor Xeljanz in comparable biologic refractory patients. JCR-031 was launched in Japan for acute graft versus host disease (GvHD) in February following approval in September 2015. In September 2015, the company announced Phase II trial results for MPC-150-IM, showing greatest cardioprotective effect in patients with advanced heart failure. Clinical data from two phase III studies in CHF will support regulatory approval; the first trial cleared an interim safety analysis in Q216. An ADR listing in November 2015 on Nasdaq, attracting US$68m in gross proceeds, allows a cash runway for the company to end FY17 enabling Mesoblast to deliver potential value inflection points in GvHD, back pain and RA.

Last updated on 01/06/2016

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 Teva, JCR, Celgene and Lonza underpin the key late-stage programmes.

Last updated on 01/06/2016

Key management

Company address

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