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MSBMesoblast

data caveat$2.9B24mo

Companies/MSB

MSBActiveTier 1

Mesoblast

Biotech · Cell therapy

Allogeneic cell therapy for inflammatory conditions, Ryoncil approved in Japan

Website ↗ASX ↗

Data HealthFiling4C overdue · Dec 202580dTrials1 of 1 active · stale enrollment

Cash data from Dec 2025 4CFigures from ASX filings · not financial advice

[ VITALS ]

Cash on Hand

$205.4M

Dec 2025 4C

Runway

24moSTABLE

Based on Dec 2025 4C

Market Cap

$2.9B

Burn Rate

$25.3M/qtr

Dec 2025 4C

Shares Outstanding

1.3B

Pipeline Assets

MSB

Latest Insight(1)

16 Apr 2026

Insider TradeAppendix 3Y for Gregory George

2 transactions·+$11430k net buyGeorge: bought $11430k

picture_as_pdfView full announcement

3M Price

MSB.ASX

$2.210-17.2% 3M

Low $1.985High $2.700

Pipeline Assets (3)

Remestemcel-LChronic heart failure

Phase 3

Remestemcel-LChronic low back pain

Phase 3

Ryoncil (remestemcel-L)Pediatric SR-aGvHD

Approved

Discovery

Preclinical

Ph 1

Ph 1/2

Ph 2

Ph 2/3

Ph 3

Capital Raises & Buybacks

2 raises

Current shares outstanding: 1.3B

Other

2026-04-08otherMesoblast issued 1,260,589 fully paid ordinary shares to third parties as consideration for certain intellectual property assets, with this notice serving as a cleansing notice under section 708A(5)(e) of the Corporations Act.

1.3M sh

2026-04-07other1,260,589 ordinary shares issued to third parties as non-cash consideration for certain intellectual property assets, using 15% placement capacity under ASX Listing Rule 7.1.

1.3M sh

Director Transactions

6 transactions

Last 90dNet Buy

Buys2+2 vs prior

Sells0

Buy Value$11430k

BUYGregory Georgeopen_in_new

7,210,962 sh2026-04-10

2d after · Ryoncil® (remestemcel-L-rknd) FDA — Mesoblast R&D Day Features Commercial & Blockbuster Programs

BUYGregory George

Director Options & Rights

3,045,600 outstanding

Director

Outstanding

Ex. Price

Expiry

Dr Silviu ItescuoutstandingOptions

Issued with approval by shareholders at the 2025 AGM

2,025,600

outstanding

nil cost

no expiry

↗

Dr Eric RoseoutstandingOptions

Issued with approval by shareholders at the 2025 AGM

820,000

outstanding

nil cost

no expiry

↗

Gregory GeorgeoutstandingOptions

Issued in accordance with the Company's Employee Share Option Plan and approved at the Company's 2025 AGM

200,000

outstanding

nil cost

no expiry

↗

Short Interest

ASIC ↗as of 2026-03-27 · 4-day lag

Short position

8.29%

arrow_drop_up+1.04% over 30 reports

Shares short

106.9M

Aggregated short position data published by ASIC under the Corporations Act. T+4 reporting lag applies. Short interest ≥5% is noteworthy; ≥10% is elevated. Source: ASIC Short Selling Data

Competitive Landscape

2 approved drugs87 competitor trialsPhase 2+ · Non-ASX

Chronic Heart Failure58 active trials

20 Ph413 Ph33 Ph2/314 Ph28 Ph1/PHASE2

Approved

Coreg ENTRESTO

Chronic Low Back Pain29 active trials

5 Ph410 Ph31 Ph2/311 Ph22 Ph1/PHASE2

Competitor trials from ClinicalTrials.gov (Phase 2+ historical, Phase 3+ refreshed weekly, active/recruiting, non-ASX sponsors). Approved drugs from OpenFDA (NDA/BLA only). Updated weekly via fetch_competitors.py.

expand_more

Clinical Publications

Peer-reviewed papers & conference abstracts via PubMed

8 papers

Acute and Chronic Cutaneous Graft-versus-Host Disease: Diagnosis, Treatment, and Emerging Directions.

Am J Clin Dermatol2026-04· Remestemcel-LReview

Hierarchical therapeutic potential in the mesenchymal stem cell landscape.

J Transl Med2025-12· remestemcel-LReview

Mesenchymal precursor cells reduce mortality and major morbidity in ischaemic heart failure with inflammation: DREAM-HF.

Eur J Heart Fail2025-12Randomized Controlled Trial

ASHRemestemcel-L-rknd (Ryoncil): the first approved cellular therapy for steroid-refractory acute GVHD.

Catalysts (18)· 2 upcoming · 16 past

Remestemcel-L US BLA resubmission pathway

Upcoming

Expectedarrow_upwardHigh30 June 2026

CHF Phase 3 interim data

Upcoming

Expectedarrow_upwardHigh30 Sept 2026

expand_more16 past catalysts

Ryoncil® (remestemcel-L-rknd) FDA — Mesoblast R&D Day Features Commercial & Blockbuster Programsopen_in_new

Completed

Confirmed

Delivery Consistency Index

Historical delivery and spending consistency — data is limited for recently added companies.

Delivery Consistency Index

Delivery

–Insufficient data

0/3 data points needed

Timeline adherence · phase-adjusted tolerance · recency-weighted · min 3 catalysts

Capital discipline

–Insufficient data

1/2 data points needed

Burn rate stability · stage-adjusted thresholds · runway trend · R&D focus

Outcome quality (positive/negative readouts) reflects the science, not execution — shown above but excluded from the score.

These metrics reflect historical operational data only. They are not predictive of future performance, do not constitute investment advice, and should not be used as the basis for any investment decision.

⚠ TIMELINE CHANGESCT.GOV · AUTO-DETECTED

These changes were automatically detected by comparing ClinicalTrials.gov records over time. A slipped date means the trial's expected completion moved later; pulled forward means it moved earlier.

↗ SLIPPED

NCT04543994 ↗2023-11-01 → 2023-11-15

2026-04-20

↗ SLIPPED

NCT04548583 ↗2023-10-01 → 2023-11-15(2mo delay)

2026-04-20

★ RESULTS

NCT02652130 ↗Results posted to ClinicalTrials.gov

2026-04-13

★ RESULTS

NCT01781390 ↗Results posted to ClinicalTrials.gov

2026-04-13

★ RESULTS

NCT02336230 ↗

Clinical Trials(9)

1 activeClinicalTrials.gov ↗

Ph3RecruitingEnrollment stale · 658d

Rexlemestrocel-L + HA mixtureSaline

Efficacy and Safety of Rexlemestrocel-L Combined With HA* in Participants With Moderate to Severe Chronic Low Back Pain

Degenerative Disc Disease

RandomizedDouble Blind18 Years+

Primary endpoint Mean Change From Baseline in Daily Average Low Back Pain at 12 Months Post-treatment Based on Visual Analog Scale (VAS) Score

NCT06325566 ↗CT.gov

Start

2024-07

Primary end

2026-10

Announcements(18)

All announcements →

person

Insider Tradeauto_awesome

Appendix 3Y for Gregory George

16 Apr 2026

218KB

expand_more

article

Other

Notification of cessation of securities - MSB

16 Apr 2026

12KB

article

Other

Notification regarding unquoted securities - MSB

16 Apr 2026

14KB

article

Other

Application for quotation of securities - MSB

16 Apr 2026

17KB

article

Other

Notification regarding unquoted securities - MSB

16 Apr 2026

15KB

Event	Type	Confidence	Impact	Date	Status
Remestemcel-L US BLA resubmission pathway Working with FDA on pathway for US approval in SR-aGvHD	regulatory decision	Expected	arrow_upwardHigh	30 June 2026	Upcoming
CHF Phase 3 interim data Rexlemestrocel-L in chronic heart failure, interim data expected	data readout	Expected	arrow_upwardHigh	30 Sept 2026	Upcoming

expand_more16 past catalysts

Ryoncil® (remestemcel-L-rknd) FDA — Mesoblast R&D Day Features Commercial & Blockbuster Programsopen_in_new The FDA cleared an IND for Ryoncil® to directly proceed to a registrational trial for approval in children with Duchenne muscular dystrophy (DMD). This represents a label extension strategy beyond Ryoncil's existing approval for pediatric SR-aGvHD.	regulatory decision	Confirmed	removeMed	8 Apr 2026	Completed
Ryoncil (remestemcel-L-rknd) FDA — FDA Clears Ryoncil IND for Registration Trial in DMDopen_in_new The FDA granted IND clearance for Ryoncil to proceed directly to a registrational clinical trial in Duchenne Muscular Dystrophy, evaluating the drug's anti-inflammatory mechanism in children aged 5 to 9 years. The trial will randomize 76 patients with a primary endpoint of time-to-stand at nine months, a validated FDA approval endpoint.	regulatory decision	Confirmed	removeMed	8 Apr 2026	Completed
Ryoncil (remestemcel-L-rknd) FDA — FDA Clears Ryoncil IND for Registration Trial in DMDopen_in_new The FDA granted IND clearance for Ryoncil to proceed directly to a registrational clinical trial in Duchenne muscular dystrophy, bypassing earlier phase trials. The trial will randomize 76 patients aged 5-9 years to evaluate Ryoncil's anti-inflammatory mechanism as a potential treatment to preserve muscle function and slow disease progression in DMD.	regulatory decision	Confirmed	removeMed	8 Apr 2026	Completed
Results posted — Efficacy and Safety of Allogeneic Mesenchymal Precursor Cells (Rexlemestrocel-L)open_in_new Results available at https://clinicaltrials.gov/study/NCT02032004	data readout	Confirmed	arrow_upwardHigh	8 Apr 2026	Completed
Results posted — Safety Study of Allogeneic Mesenchymal Precursor Cell Infusion in Myocardial Infopen_in_new Results available at https://clinicaltrials.gov/study/NCT01781390	data readout	Confirmed	arrow_upwardHigh	8 Apr 2026	Completed
Results posted — Placebo-controlled Study to Evaluate Rexlemestrocel-L Alone or Combined With Hyaopen_in_new Results available at https://clinicaltrials.gov/study/NCT02412735	data readout	Confirmed	arrow_upwardHigh	8 Apr 2026	Completed
Results posted — A Prospective Study of Remestemcel-L, Ex-vivo Cultured Adult Human Mesenchymal Sopen_in_new Results available at https://clinicaltrials.gov/study/NCT02336230	data readout	Confirmed	arrow_upwardHigh	8 Apr 2026	Completed
Results posted — Safety Follow-up of Treatment With Remestemcel-L in Pediatric Participants Who Hopen_in_new Results available at https://clinicaltrials.gov/study/NCT02652130	data readout	Confirmed	arrow_upwardHigh	8 Apr 2026	Completed
Ryoncil (remestemcel-L) FDA — Mesoblast R&D Day Presentationopen_in_new Ryoncil (remestemcel-L) is the first FDA-approved mesenchymal stromal cell therapy, successfully launched in the US for pediatric SR-aGvHD. Net revenue has approached US$100 million since launch, with the company now investing proceeds into label extension studies and blockbuster pipeline opportunities.	regulatory decision	Confirmed	removeMed	8 Apr 2026	Completed
Ryoncil® (remestemcel-L-rknd) FDA — Mesoblast R&D Day Features Commercial & Blockbuster Programsopen_in_new The FDA cleared an IND allowing Mesoblast to directly proceed to a registrational trial for approval of Ryoncil® in children with Duchenne muscular dystrophy (DMD). This represents a label extension strategy beyond Ryoncil's existing approval for pediatric steroid-refractory acute graft versus host disease.	regulatory decision	Confirmed	removeMed	8 Apr 2026	Completed
Ryoncil (remestemcel-L) FDA — Mesoblast R&D Day Presentationopen_in_new Ryoncil (remestemcel-L) received FDA approval as the first approved mesenchymal stromal cell therapy, and has been successfully launched in the US with net revenue approaching US$100 million since launch. The company is now pursuing label extensions including adult SR-aGvHD and pediatric rare diseases such as Duchenne Muscular Dystrophy.	regulatory decision	Confirmed	removeMed	8 Apr 2026	Completed
Results posted — Efficacy and Safety of Allogeneic Mesenchymal Precursor Cells (Rexlemestrocel-L)open_in_new Results available at https://clinicaltrials.gov/study/NCT02032004	data readout	Confirmed	arrow_upwardHigh	13 Apr 2026	Completed
Results posted — A Prospective Study of Remestemcel-L, Ex-vivo Cultured Adult Human Mesenchymal Sopen_in_new Results available at https://clinicaltrials.gov/study/NCT02336230	data readout	Confirmed	arrow_upwardHigh	13 Apr 2026	Completed
Results posted — Placebo-controlled Study to Evaluate Rexlemestrocel-L Alone or Combined With Hyaopen_in_new Results available at https://clinicaltrials.gov/study/NCT02412735	data readout	Confirmed	arrow_upwardHigh	13 Apr 2026	Completed
Results posted — Safety Follow-up of Treatment With Remestemcel-L in Pediatric Participants Who Hopen_in_new Results available at https://clinicaltrials.gov/study/NCT02652130	data readout	Confirmed	arrow_upwardHigh	13 Apr 2026	Completed
Results posted — Safety Study of Allogeneic Mesenchymal Precursor Cell Infusion in Myocardial Infopen_in_new Results available at https://clinicaltrials.gov/study/NCT01781390	data readout	Confirmed	arrow_upwardHigh	13 Apr 2026	Completed

Mesoblast

Latest Insight(1)

3M Price

Pipeline Assets (3)

Capital Raises & Buybacks

Director Transactions

Director Options & Rights

Short Interest

Competitive Landscape

Clinical Publications

Catalysts (18)· 2 upcoming · 16 past

Delivery Consistency Index

Clinical Trials(9)

Announcements(18)

Quarterly Cash Flow