- Mesoblast ( NASDAQ: MESO ) reports net cash usage for operating activities in the Q3 of $14.3M; representing a reduction of $3.9M, or 22%, on the comparative quarter in FY2022, and a reduction of $8M, or 47%, on the comparative quarter in FY2021.
- Cash on hand was $85.5M after raising gross proceeds of $45M in a private placement in Aug. 2022, with up to an additional $40M available to be drawn down from existing financing facilities subject to certain milestones.
- Mesoblast has now generated data from the expanded access program (EAP 275) of 241 children which confirm the ability of the in-vitro potency assay to measure product activity relevant to survival outcomes.
- A major milestone in the Co.’s complete response to the FDA was the submission at the end of the quarter of substantial new information on clinical and potency assay items to the Investigational New Drug file for remestemcel-L in the treatment of children with SR-aGVHD.
- Mesoblast gained alignment with the FDA on key metrics for pivotal Phase 3 study in patients with CLBP which seeks to replicate the significant reduction in pain seen at 12 and 24 months in first Phase 3 trial.
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Mesoblast reports operational and financial highlights for Q3