Why Mesoblast, Newcrest, Sezzle & Telstra shares are racing higher

It has been a bumpy ride for the S&P/ASX 200 Index (ASX: XJO) on Thursday. After a number of ups and downs, in late morning trade the benchmark index is down slightly to 6,852.8 points.

Four ASX shares that are not letting that hold them back are listed below. Here’s why they are racing higher:

The Mesoblast share price is up 4.5% to $2.68 following the release of a trial update. According to the release, the results of a phase three trial indicate that a single injection of rexlemestrocel-L may provide a safe, durable, and effective opioid-sparing therapy for patients with chronic inflammatory back pain due to degenerative disc disease. The study notes that the greatest benefits were seen when administered earlier in the…