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Mesoblast Reports on Annual and Fourth Quarter Results

30 Aug 2017  |  08:05:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: Mesoblast Reports on Annual and Fourth Quarter Results

Mesoblast reported its consolidated financial results and operational highlights for the three months ended 30 June 2017 (fourth quarter of 2017) and year ended 30 June 2017 (FY2017). The Company has just completed an oversubscribed institutional entitlement offer for a fully underwritten capital raise of A$50.7m. At 30 June 2017, it had cash reserves of US$45.8m, and US$84.0m on a pro-forma basis after adjusting for total net proceeds from the entitlement offer. It intends to pursue RMAT designation as outlined in the 21st Century Cures Act in the U.S. for a number of its product candidates. Its cash reserves will be used to achieve significant outcomes in FY18 for the Phase 2b/3 trials in end stage CHF, acute graft versus host disease and chronic low back pain.

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