Business
Mesoblast (ASX:MSB) share price surges on new results
The Mesoblast limited (ASX: MSB) share price surged this morning after the biotech company announced positive drug trial results.
Mesoblast shares stormed almost 9% higher in early trading before retreating through the morning. At the time of writing, the Mesoblast share price is up 2.54% at $2.62.
Drug trial success
In today’s release, the company detailed significant results for its phase 3 chronic lower back pain trials.
Mesoblast reported that a single injection of its drug rexlemestrocel-L may provide “safe, durable, and effective” therapy for patients with chronic inflammatory back pain due to degenerative disc disease. Furthermore, the results showed the treatment was long-lasting in combination with hyaluronic acid…
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