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Mesoblast to File Biologics License Application for Ryoncil® FDA Approval Next Week

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Mesoblast (Nasdaq:MESO; ASX:MSB) announced that it will file a Biologics License Application (BLA) for its product, Ryoncil® (remestemcel-L), next week. The application seeks FDA approval to use Ryoncil® for treating children with steroid-refractory acute graft versus host disease (SR-aGVHD). If approved, this could position Mesoblast as a key player in treating pediatric inflammatory diseases, opening potential new revenue streams and solidifying its leadership in allogeneic cellular medicines.

Positive
  • Mesoblast plans to file a BLA for Ryoncil® for treating SR-aGVHD in children next week.
  • FDA approval of Ryoncil® could open new revenue streams and solidify Mesoblast's leadership.
Negative
  • None.

Mesoblast’s announcement regarding the upcoming filing of its Biologics License Application (BLA) for Ryoncil® is significant, particularly for investors focused on the biopharmaceutical sector. The treatment targets children with steroid-refractory acute graft versus host disease (SR-aGVHD), a severe and often life-threatening condition that occurs post bone marrow transplant. Current therapeutic options are limited, making successful FDA approval highly impactful.

Ryoncil® employs remestemcel-L, an allogeneic cellular medicine, which leverages mesenchymal stem cells to modulate immune responses and reduce inflammation. This represents a cutting-edge approach in treating inflammatory diseases and its approval could symbolize a substantial advance in this medical field.

From a short-term perspective, the filing signals progress in Mesoblast’s clinical development pipeline, potentially boosting investor confidence and stock value. However, investors should be aware that the FDA approval process can be lengthy and uncertain, with potential for delays or additional data requests. Long-term success will hinge on clinical outcomes and market acceptance following approval.

Moreover, Mesoblast’s technology has broader applications for other inflammatory conditions, suggesting future expansion opportunities. Investors should consider not only the immediate benefits of this filing but also the broader strategic positioning of Mesoblast within the biopharmaceutical industry.

NEW YORK, July 01, 2024 (GLOBE NEWSWIRE) -- Mesoblast Limited (Nasdaq:MESO; ASX:MSB), global leader in allogeneic cellular medicines for inflammatory diseases, today confirmed that it will file its Biologics License Application (BLA) for approval of Ryoncil® (remestemcel-L) in the treatment of children with steroid-refractory acute graft versus host disease (SR-aGVHD) with the U.S. Food and Drug Administration (FDA) next week.

About Mesoblast
Mesoblast (the Company) is a world leader in developing allogeneic (off-the-shelf) cellular medicines for the treatment of severe and life-threatening inflammatory conditions. The Company has leveraged its proprietary mesenchymal lineage cell therapy technology platform to establish a broad portfolio of late-stage product candidates which respond to severe inflammation by releasing anti-inflammatory factors that counter and modulate multiple effector arms of the immune system, resulting in significant reduction of the damaging inflammatory process.

Mesoblast has a strong and extensive global intellectual property portfolio with protection extending through to at least 2041 in all major markets. The Company’s proprietary manufacturing processes yield industrial-scale, cryopreserved, off-the-shelf, cellular medicines. These cell therapies, with defined pharmaceutical release criteria, are planned to be readily available to patients worldwide.

Mesoblast is developing product candidates for distinct indications based on its remestemcel-L and rexlemestrocel-L allogeneic stromal cell technology platforms. Remestemcel-L is being developed for inflammatory diseases in children and adults including steroid refractory acute graft versus host disease, and biologic-resistant inflammatory bowel disease. Rexlemestrocel-L is being developed for advanced chronic heart failure and chronic low back pain. Two products have been commercialized in Japan and Europe by Mesoblast’s licensees, and the Company has established commercial partnerships in Europe and China for certain Phase 3 assets.

Mesoblast has locations in Australia, the United States and Singapore and is listed on the Australian Securities Exchange (MSB) and on the Nasdaq (MESO). For more information, please see www.mesoblast.com, LinkedIn: Mesoblast Limited and Twitter: @Mesoblast

Forward-Looking Statements
This press release includes forward-looking statements that relate to future events or our future financial performance and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to differ materially from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. We make such forward-looking statements pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and other federal securities laws. Forward-looking statements should not be read as a guarantee of future performance or results, and actual results may differ from the results anticipated in these forward-looking statements, and the differences may be material and adverse. Forward-looking statements include, but are not limited to, statements about: the initiation, timing, progress and results of Mesoblast’s preclinical and clinical studies, and Mesoblast’s research and development programs; Mesoblast’s ability to advance product candidates into, enroll and successfully complete, clinical studies, including multi-national clinical trials; Mesoblast’s ability to advance its manufacturing capabilities; the timing or likelihood of regulatory filings and approvals (including any future decision that the FDA may make on the BLA for remestemcel-L for pediatric patients with SR-aGVHD), manufacturing activities and product marketing activities, if any; the commercialization of Mesoblast’s product candidates, if approved; regulatory or public perceptions and market acceptance surrounding the use of stem-cell based therapies; the potential for Mesoblast’s product candidates, if any are approved, to be withdrawn from the market due to patient adverse events or deaths; the potential benefits of strategic collaboration agreements and Mesoblast’s ability to enter into and maintain established strategic collaborations; Mesoblast’s ability to establish and maintain intellectual property on its product candidates and Mesoblast’s ability to successfully defend these in cases of alleged infringement; the scope of protection Mesoblast is able to establish and maintain for intellectual property rights covering its product candidates and technology; estimates of Mesoblast’s expenses, future revenues, capital requirements and its needs for additional financing; Mesoblast’s financial performance; developments relating to Mesoblast’s competitors and industry; and the pricing and reimbursement of Mesoblast’s product candidates, if approved. You should read this press release together with our risk factors, in our most recently filed reports with the SEC or on our website. Uncertainties and risks that may cause Mesoblast’s actual results, performance or achievements to be materially different from those which may be expressed or implied by such statements, and accordingly, you should not place undue reliance on these forward-looking statements. We do not undertake any obligations to publicly update or revise any forward-looking statements, whether as a result of new information, future developments or otherwise.

Release authorized by the Chief Executive.

For more information, please contact:

Corporate Communications / InvestorsMedia
Paul HughesBlueDot Media
T: +61 3 9639 6036Steve Dabkowski
E: investors@mesoblast.comT: +61 419 880 486
 E: steve@bluedot.net.au

FAQ

What is Mesoblast's planned application for FDA approval?

Mesoblast plans to file a Biologics License Application (BLA) for Ryoncil® to treat steroid-refractory acute graft versus host disease (SR-aGVHD) in children next week.

What is Ryoncil® used for?

Ryoncil® (remestemcel-L) is used for treating children with steroid-refractory acute graft versus host disease (SR-aGVHD).

When will Mesoblast file the BLA for Ryoncil®?

Mesoblast will file the Biologics License Application (BLA) next week.

What potential impact could FDA approval of Ryoncil® have on Mesoblast?

FDA approval of Ryoncil® could open new revenue streams and solidify Mesoblast's leadership in the market for allogeneic cellular medicines.

What stock symbol does Mesoblast trade under?

Mesoblast trades under the stock symbol MESO.

Mesoblast Limited

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Biological Product (except Diagnostic) Manufacturing
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