Mesoblast 1Q24 Quarterly Activity Report: Cash Balance Of $53.2M, With Net Operating Cash Spend Of $14.2M; Revenue From Royalties On Sales Of TEMCELL® HS Inj. Sold In Japan Totaled $1.6M
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Mesoblast released its 1Q24 quarterly activity report, revealing a cash balance of $53.2M and a net operating cash spend of $14.2M. The company also reported $1.6M in revenue from royalties on sales of TEMCELL® HS Inj. in Japan. In a Type A meeting in September, Mesoblast presented clinical data indicating high survival rates in children with SR-aGVHD treated with the improved RYONCIL product version of remestemcel-L.
October 31, 2023 | 6:09 am
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Mesoblast's 1Q24 report shows a healthy cash balance and revenue from TEMCELL® HS Inj. sales. The company's improved RYONCIL product version of remestemcel-L has shown high survival rates in children with SR-aGVHD, potentially supporting future approval for the pediatric indication.
The company's healthy cash balance and revenue from TEMCELL® HS Inj. sales indicate a strong financial position. The positive clinical data for the improved RYONCIL product version of remestemcel-L could lead to future approval for the pediatric indication, potentially driving up the stock price.
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