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An announcement from Mesoblast Limited ( (AU:MSB) ) is now available.
Mesoblast Limited announced a scheduled meeting with the FDA to discuss data from its Phase 3 study of rexlemestrocel-L for opioid reduction in chronic low back pain patients. The study showed significant opioid cessation results, highlighting the potential impact of rexlemestrocel-L as a non-opioid treatment option amid the ongoing opioid crisis in the US. The FDA has recognized the importance of developing non-opioid treatments, and Mesoblast is actively recruiting for a confirmatory Phase 3 trial. The outcome of these discussions could significantly influence Mesoblast’s positioning in the market and offer a promising solution for patients with chronic low back pain.
The most recent analyst rating on (AU:MSB) stock is a Hold with a A$3.00 price target. To see the full list of analyst forecasts on Mesoblast Limited stock, see the AU:MSB Stock Forecast page.
More about Mesoblast Limited
Mesoblast Limited is a global leader in developing allogeneic cellular medicines for treating severe and life-threatening inflammatory conditions. The company’s proprietary mesenchymal lineage cell therapy technology platform focuses on reducing inflammation by releasing anti-inflammatory factors. Mesoblast’s products include Ryoncil for treating steroid-refractory acute graft versus host disease and rexlemestrocel-L for heart failure and chronic low back pain. The company has established commercial partnerships in Japan, Europe, and China and holds a strong intellectual property portfolio with over 1,000 granted patents or applications.
Average Trading Volume: 4,882,543
Technical Sentiment Signal: Strong Buy
Current Market Cap: A$3.18B
Find detailed analytics on MSB stock on TipRanks’ Stock Analysis page.