Mesoblast

AU: MSB

Market CapAU$1070m

Last Close AU$1.65

Mesoblast is developing adult stem-cell therapies based on its proprietary MPC and MSC platforms. Its lead programs are in pediatric aGvHD, heart failure, ARDS and lower back pain, all of which are in Phase III or later.

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Investment summary

Mesoblast is an Australia-headquartered biotechnology company focused on its pipeline which is based on proprietary mesenchymal precursor cells (MPC) and culture-expanded mesenchymal stem cells (MSC) technologies. Novartis signed a partnership with the company to develop remestemcel-L for acute respiratory distress syndrome (ARDS), whether or not the ARDS was caused by COVID-19. Mesoblast recently met with the FDA on the path forward in COVID-19 related ARDS and another trial is necessary for authorisation. The company also announced data from its MPC-06-ID back pain trial. Rexlemestrocel-L in combination with hyaluronic acid significantly reduced pain and reduced the need for opioids. In the heart failure trial, Revascor had a significant impact on major adverse cardiovascular events such as cardiovascular death and ischemic events.

Y/E Jun
Revenue (US$m)
EBITDA (US$m)
PBT (US$m)
EPS (fd) (c)
P/E (x)
P/CF (x)
2019A 16.0 (75.4) (86.5) (15.69) N/A N/A
2020A 31.6 (64.8) (79.6) (13.28) N/A N/A
2021E 72.9 (46.3) (55.7) (9.06) N/A N/A
2022E 8.6 (83.2) (92.6) (14.29) N/A N/A
Industry outlook

Mesoblast is a leading MSC company based in Australia. It is targeting large indications such as ARDS, congestive heart failure and back pain.

Last updated on 21/09/2021
Content on Mesoblast
Mesoblast – A significant impact on back pain
Healthcare | Update | 15 March 2021
test tube close up
Mesoblast – Edison Open House interview
Healthcare | Edison TV | 3 February 2021
Mesoblast – Novartis licenses ARDS program
Healthcare | Update | 30 November 2020
test tube close up
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Share price graph
Balance sheet
Forecast net cash (US$m) 115.4
Forecast gearing ratio (%) N/A
Price performance
%
1m
3m
12m
Actual (11.1) (25.0) (66.7)
Relative* (9.1) (25.8) (73.5)
52-week high/low A$5.5/A$1.6
*% relative to local index
Key management
Josh Muntner CFO
Silviu Itescu Chief Executive Officer & Managing Director