Business
Troubled Mesoblast secures crucial cash buffer from surprise US backer – Sydney Morning Herald
Troubled drug developer Mesoblast has been given a financial lifeline analysts expect will give it an 18-month cash buffer after securing a $138 million investment…
The SurgCenter deal will push Mesoblasts cash balance from $US77.5 million to $US187.5 million and Bell Potter analyst Tanushree Jain said the raising was a net benefit because it would give Mesoblast about 18 months of cash runway.
Mesoblast will now need to focus on key regulatory and commercial deliverables across its three lead products over the next 12 months, Ms Jain said.
However, Mesoblast shares had plunged 5.7 per cent to $2.32 by late afternoon trading. Shares are 57 per cent lower than…
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