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$433m
Last closeA$1.14
High / Low (52 weeks)A$4.0 / A$1.0
Stock market listingAU
Forecast net cash (US$m)79.4
Forecast gearing ratio (%)N/A
TeamHealthcare
SectorPharmaceutical & Healthcare

Price performance

%1m3m12m
Actual9.7(51.9)(71.4)
Relative *0.8(54.9)(71.7)

* % 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

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

Mesoblast limited could be about to sink or soar

Fri, 10 Jun 2016 00:59:21 GMT

Credit Suisse says Mesoblast limited has blockbuster potential

Wed, 20 Jan 2016 01:41:44 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 08/07/2016

Investment summary

Teva has relinquished all rights to cardiovascular applications of Mesoblast’s mesenchymal precursor cell (MPC) technology, as it focuses on its core CNS and respiratory interests. Mesoblast will seek a new partner with a cardiovascular focus at the appropriate time. It has entered an A$120m (~US$90m) equity finance facility with Kentgrove Capital to fund the ongoing Phase III CHF trial and a 600-patient confirmatory trial (estimated cost ~US$90m), and has brought forward the interim futility analysis to Q117. We have revised our development timelines and lower our valuation to A$1.8bn from A$2.8bn (A$4.67 from A$7.36 per share).

Last updated on 08/07/2016

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 06/07/2016

Key management

Company address

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