Business
Why the Mesoblast (ASX:MSB) share price rocketed 17% higher
The Mesoblast limited (ASX: MSB) share price was a very strong performer on Monday.
The biotech company’s shares finished the day a massive 17.5% higher at $4.28.
Why did the Mesoblast share price rocket higher?
Investors were buying the company’s shares again on Monday in response to a positive announcement at the end of last week.
That announcement revealed that the company has signed a major deal with pharma giant Novartis.
Novartis has signed an exclusive worldwide license and collaboration agreement for the development, manufacture, and commercialisation of Mesoblast’s mesenchymal stromal cell (MSC) product remestemcel-L.
The deal, which is focused on its treatment of COVID-19 Acute Respiratory Distress Syndrome (ARDS),…
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