Mesoblast (MESO) rockets over 100%, here is why
- Mesoblast shares rocket due to its announcement of an 83% survival rate in ventilator-dependent COVID-19 patients who were treated with its allogeneic mesenchymal stem cell product candidate remestemcel-L within the first five days. The announcement states that 9 of the 10 were weaned off ventilator support after a median of 10 days, while seven have been discharged from the hospital.
- In comparison, 9% of ventilator-dependent COVID-19 patients at a major New York City hospital who received standard-of-care treatment were able to discontinue ventilator support. The survival rate was only 12% in ventilator-dependent COVID-19 patients at another major hospital in the city.
- Currently, a phase 2/3 study is in progress.
Mesoblast Ltd. is a biopharmaceutical company, which engages in the research, development, and market of mesenchymal lineage adult stem cell technology platform. Its medicines target the cardiovascular diseases, spine orthopedic disorders, oncology and hematology, immune-mediated, and inflammatory diseases. The company was founded by Itescu Silviu on June 8, 2004 and is headquartered in Melbourne, Australia