- Mesoblast (MSB) has placed its shares in a trading halt before the weekend as it gears up to raise some fresh capital
- The stem cell specialist has flagged a “proposed private placement to a targeted industry investor”
- However, no further details of the capital raise have been revealed just yet
- As it stands, Mesoblast shares will remain in a trading halt until Tuesday, March 2, unless Mesoblast releases the details of the raise before the
- Mesoblast is busy developing stem-cell-based treatments for a range of complex inflammatory diseases
- The company has several key drug candidates in third-phase clinical trials
- Mesoblast shares last traded for $2.46 each on Thursday afternoon
Mesoblast (MSB) has placed its shares in a trading halt before the weekend as it gears up to raise some fresh capital.
While the details of the raise have not yet been announced, the stem cell specialist revealed that it will not be a conventional on-market capital raise; Mesoblast is planning a “proposed private placement to a targeted industry investor”.
It’s not clear just yet who this investor is or how much they plan to invest in Mesoblast.
As it stands, MSB shares will remain in a trading halt until Tuesday, March 2, unless Mesoblast releases the details of the raise before then.
Mesoblast is busy developing stem-cell-based treatments for a range of complex inflammatory diseases that are resistant to conventional standards of care.
The company’s range of third-phase product candidates includes its Remestemcel-L drug, which is being developed to treat acute graft-versus-host disease (acute GVHD) in children.
This is a rare condition in which the human body reject bone marrow transplants.
Remestemcel-L is also in third-phase trials for severe acute respiratory distress syndrome (ARDS) due to COVID-19 infections.
Essentially, ARDS is a type of respiratory failure that occurs when air sacs in the lungs fill with fluid and organs become deprived of oxygen. This condition is the leading cause of death from COVID-19.
On top of this, Mesoblast has its REVASCOR treatment in third-phase trials for chronic heart failure and MPC-06-ID treatment in third-phase trials for chronic lower back pain due to degenerative disc disease.
Shares in Mesoblast last traded for $2.46 each on Thursday afternoon.