Mesoblast Shares Resume Trading Down 66%, Following Announcement Of Complete Response Letter From FDA
Portfolio Pulse from Charles Gross
Shares of Mesoblast Limited resumed trading and fell by 66% following the announcement of a Complete Response Letter from the FDA. The letter indicates that the FDA requires more information before it can approve the company's product.
August 04, 2023 | 3:07 pm
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NEGATIVE IMPACT
Mesoblast's stock price fell significantly after the FDA requested more information for product approval, indicating potential regulatory hurdles.
The FDA's request for more information indicates potential regulatory hurdles for Mesoblast, which could delay product approval and negatively impact the company's revenue and profitability. This news has caused a significant drop in the company's stock price.
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