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$1403.7m
Last closeA$3.28
High / Low (52 weeks)A$3.3 / A$1.0
Stock market listingAU
Forecast net cash (US$m)58.9
Forecast gearing ratio (%)N/A
TeamHealthcare
SectorPharmaceutical & healthcare

Price performance

%1m3m12m
Actual37.2105.037.8
Relative *34.097.722.7

* % 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 10:01:14 GMT

Maxim Group Reiterates Buy Rating and $14 PT on Mesoblast Limited (MESO ...

Mon, 10 Apr 2017 11:37:30 GMT

Is the Mesoblast limited share price about to blast off?

Mon, 10 Apr 2017 01:30:00 GMT

Mesoblast Limited (MESO) Announce 24-Patient Trial to Grow Heart Muscle in ...

Mon, 03 Apr 2017 20:37:30 GMT

Maxim Group Reiterates Buy Rating and $14 PT on Mesoblast Limited (MESO ...

Fri, 31 Mar 2017 11:48:45 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 05/04/2017

Investment summary

Mesoblast has raised US$40m (gross) through a placement of 26.25m shares at A$2.00/share. The cash enables continued funding of the key MPC-150-IM Phase III heart failure (HF) study where an interim futility analysis is underway. We expect Q4 data from the Phase III in paediatric graft vs host disease (GvHD); Mallinckrodt has an option on partnering GvHD. Other projects can also be funded. Also in H2, top-line data from the NIH-funded Phase IIb study in end-stage HF with an LVAD may be reported. The indicative value has been increased to A$1.72bn from A$1.67bn to reflect reduced potential FY18 cash needs. The indicative value per share drops to A$4.02 from A$4.16 due to the increased dilution.

Last updated on 05/04/2017

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 04/04/2017

Key management

Company address

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