Market Performance - Major stock markets in Asia closed on a mixed note due to shortened trading hours, holidays, and thin trading volume, with most markets on track for strong year-end gains driven by the AI boom [1] - China's Shanghai Composite Index increased by 0.09 percent to close at 3,968.84, with a trading range of 3,955.49 to 3,977.54 [2] - The Shenzhen Component Index decreased by 0.58 percent, closing at 13,525.02, down from 13,604.07 [2] - The Hang Seng Index fell by 0.87 percent, closing at 25,606.37, with a trading range between 25,791.50 and 25,522.00 [2] Australia and New Zealand Markets - Australia's S&P/ASX200 closed at 8,714.30, down 0.03 percent from the previous close, with a trading range of 8,679.80 to 8,732.20 [3] - Silex Systems saw a rebound of 3.9 percent, while IDP Education, Digico Infrastructure REIT, Paladin Energy, and Nickel Industries all gained over 2 percent [3] - The NZX 50 in New Zealand closed flat at 13,548.42, with a trading range of 13,522.12 to 13,590.70 [4] - KMD Brands surged by 3.6 percent, while Investore Property, Westpac Banking Corp, and Summerset Group Holdings all rallied more than 1 percent [4] Wall Street Performance - Wall Street closed negatively as concerns over AI valuations of major tech companies overshadowed expectations for further easing by the Federal Reserve [5] - The Dow Jones Industrial Average decreased by 0.20 percent, finishing at 48,367.06, while the Nasdaq Composite dropped by 0.24 percent to close at 23,419.08 [5]

Core Viewpoint - Mesoblast Limited has secured a new credit facility of up to US$125 million, significantly improving its financial flexibility and reducing its cost of capital while allowing for strategic partnerships and commercialization opportunities [1][4]. Financial Summary - The new credit facility includes an initial drawdown of US$75 million, which is unsecured until the repayment of the NovaQuest debt by July 8, 2026, after which the total facility will be secured by the Temcell royalty [2][3]. - The facility has a fixed interest rate of 8.00% per annum, with a five-year interest-only period, representing a substantial reduction in overall cost compared to existing debt facilities [2][3]. Strategic Implications - The new facility does not encumber any of Mesoblast's material assets or intellectual property, providing total flexibility for the company in terms of additional unsecured debt or licensing activities [3]. - Dr. Gregory George, the provider of the facility, will receive warrants to purchase approximately 323,000 American Depositary Shares (ADSs) at a price of US$21.51 per ADS, which is a 15% premium to the current 30-day volume-weighted average price (VWAP) [3]. Company Overview - Mesoblast is a global leader in developing allogeneic cellular medicines for severe inflammatory diseases, utilizing proprietary mesenchymal lineage cell therapy technology [4][6]. - The company has established commercial partnerships in Japan, Europe, and China, and is committed to developing additional cell therapies for various indications [6]. Intellectual Property - Mesoblast holds a strong global intellectual property portfolio with over 1,000 granted patents or applications, providing commercial protection extending to at least 2044 in major markets [7]. Manufacturing Capabilities - The company employs proprietary manufacturing processes to produce industrial-scale, cryopreserved, off-the-shelf cellular medicines, ensuring availability to patients worldwide [8]. Market Position - Mesoblast is listed on both the Australian Securities Exchange (ASX: MSB) and Nasdaq (NASDAQ: MESO), indicating its significant presence in the global market [9].

Core Insights - Mesoblast Limited (NASDAQ:MESO) is recognized as one of the best ASX stocks due to its innovative biotechnology solutions [1] Group 1: Company Overview - Mesoblast Limited focuses on developing treatments for inflammatory diseases, heart failure, and other medical conditions [2] - The company's Ryoncil drug has generated significant revenue, bringing in $30 million in gross revenue during the fiscal second quarter [2] Group 2: Analyst Upgrades and Financial Performance - Jefferies upgraded Mesoblast's shares from Hold to Buy and raised the price target to AUD3.30 from AUD3.00, citing optimism around Ryoncil [2] - Jefferies estimated that 14 patients completed treatment with Ryoncil in the second quarter, with a projection of 78 patients completing treatment by 2026 [2] Group 3: Regulatory Milestones - Ryoncil secured a J-Code from Medicare and Medicaid services, allowing for reimbursements and broader availability in the US [3] - This designation marks Ryoncil as the first drug of its kind to receive such classification, enhancing its market potential [3]

Core Insights - Mesoblast Limited announced that remestemcel-L demonstrated superior efficacy and safety compared to ruxolitinib for treating steroid-refractory acute graft versus host disease (SR-aGvHD) at the 67th ASH Annual meeting [1][2] Company Overview - Mesoblast is a global leader in developing allogeneic cellular medicines for severe inflammatory diseases, utilizing a proprietary mesenchymal lineage cell therapy technology platform [4] - The company has a strong intellectual property portfolio with over 1,000 granted patents or applications, providing commercial protection until at least 2044 in major markets [7] - Mesoblast's manufacturing processes yield industrial-scale, cryopreserved, off-the-shelf cellular medicines, ensuring availability to patients worldwide [8] Product Information - Ryoncil (remestemcel-L) is the first FDA-approved mesenchymal stromal cell therapy for pediatric patients aged 2 months and older with SR-aGvHD [5] - The therapy is being developed for additional indications, including SR-aGvHD in adults and biologic-resistant inflammatory bowel disease, as well as heart failure and chronic low back pain [6] Clinical Study Findings - The meta-analysis included 2,732 patients across 11 studies, with remestemcel-L showing superior outcomes in complete and overall remission compared to ruxolitinib [2] - Both therapies improved quality of life, but remestemcel-L had better results in terms of hematology, cardiac, and hepatic adverse events [2]

Market Overview - The Australian share market experienced modest declines across major indices, with the S&P/ASX 20 closing at 4717.70, down 0.3% from an opening of 4732.70 [1] - The S&P/ASX 50 also fell by 0.3%, closing at 8222.20 after starting at 8250.60 [1] - Broader market indices, including the S&P/ASX 100 and S&P/ASX 300, both eased by 0.4%, ending at 7141.80 and 8540.80 respectively [2] Top Gainers - Austal Limited (ASB) was the top performer, rising to $6.650, an increase of $0.240 (3.744%) [5] - Mesoblast Limited (MSB) closed at $2.820, gaining $0.090 (3.296%) [5] - Deep Yellow Limited (DYL) increased by $0.055 (3.254%) to finish at $1.745 [5] - DroneShield Limited (DRO) advanced to $1.945, up $0.055 (2.910%) [5] - Medibank Private Limited (MPL) rounded out the top five, rising $0.120 (2.649%) to close at $4.650 [5] Top Losers - Bapcor Limited (BAP) suffered the largest decline, dropping to $1.850 after a decrease of $0.500 (-21.277%) [6] - NRW Holdings Limited (NWH) fell by $0.380 (-7.037%) to $5.020 [6] - Lynas Rare Earths Limited (LYC) declined to $12.930, down $0.680 (-4.997%) [6] - Super Retail Group Limited (SUL) slipped $0.740 (-4.551%) to end at $15.520 [6] - Life360 Inc. (360) closed at $36.360 after a drop of $1.470 (-3.886%) [6]

Summary of Mesoblast Conference Call Company Overview - **Company**: Mesoblast - **Products**: Ryoncil, Revascor - **Industry**: Biotechnology Key Points Ryoncil Launch and Performance - Ryoncil is successfully launched for treating steroid-refractory pediatric acute graft-versus-host disease (aGVHD) with net sales of **$30 million** in the first two quarters, with expectations to exceed this amount in the current quarter [4][34] - The pediatric market for aGVHD is estimated to have around **300-375 new cases** annually, with Mesoblast aiming to capture **30%** of the market within a year [7][10] - The company has established coverage with **260 million lives** under commercial insurance and has received Medicaid CMS coverage, which has facilitated the launch [6] Clinical Efficacy and Market Education - Ryoncil has shown a reduction in early mortality from **70%-90%** to about **20%** in treated patients, indicating a potential curative outcome [10] - The company is focusing on educating physicians to use Ryoncil as the first-line treatment for children with steroid-refractory disease [11] Expansion into Adult Market - Plans to conduct a phase III trial for adults with severe aGVHD, where the market is **three times larger** than the pediatric segment [15] - The FDA has suggested a randomized controlled trial for second-line treatment, combining Ryoncil with Ruxolitinib for severe cases [16][17] - Anticipated enrollment across **80 sites** in the U.S. with a potential filing for label expansion in **2027** [19] International and Other Indications - Mesoblast plans to file for regulatory approval in Europe using existing FDA documentation [20] - The company is exploring other indications such as inflammatory bowel disease and rare inflammatory diseases in children, leveraging its safety data [21] Revascor Development - Revascor, a second-generation product, targets cardiovascular diseases and has shown significant efficacy in reducing complications in ischemic heart disease patients by **60%-80%** [28] - The company is preparing for a BLA filing for Revascor in the first quarter, contingent on manufacturing readiness [30] Financial Position and Growth Strategy - Mesoblast reported approximately **$146 million** in cash at the end of the last quarter, with expectations of generating over **$30 million** in revenues this quarter [34] - The company is considering partnerships to accelerate development and unlock value across various indications, including neurodegenerative diseases [35] Manufacturing and Safety - Ryoncil is manufactured from U.S.-based human donors, with a focus on maintaining U.S. manufacturing as the company grows [23] Conclusion - Mesoblast is positioned for significant growth with its innovative therapies addressing unmet medical needs in both pediatric and adult populations, alongside a strong financial strategy and potential for international expansion [36]

Core Insights - Mesoblast Limited is a global leader in allogeneic cellular medicines for inflammatory diseases and is participating in the Piper Sandler 37th Annual Healthcare Conference in New York from December 2–4, 2025 [1][2] Company Overview - Mesoblast specializes in developing allogeneic (off-the-shelf) cellular medicines aimed at treating severe and life-threatening inflammatory conditions, utilizing a proprietary mesenchymal lineage cell therapy technology platform [3] - The company has a strong intellectual property portfolio with over 1,000 granted patents or patent applications, providing commercial protection extending through at least 2044 in major markets [6] Product Development - Mesoblast's Ryoncil (remestemcel-L-rknd) is the first FDA-approved mesenchymal stromal cell therapy for treating steroid-refractory acute graft versus host disease (SR-aGvHD) in pediatric patients aged 2 months and older [4] - The company is developing additional therapies for various inflammatory diseases, including SR-aGvHD in adults and biologic-resistant inflammatory bowel disease, as well as rexlemestrocel-L for heart failure and chronic low back pain [5] Manufacturing Capabilities - Mesoblast employs proprietary manufacturing processes that yield industrial-scale, cryopreserved, off-the-shelf cellular medicines, ensuring these therapies are readily available to patients worldwide [7] Global Presence - The company operates in Australia, the United States, and Singapore, and is listed on both the Australian Securities Exchange (MSB) and Nasdaq (MESO) [8]

Core Viewpoint - Mesoblast Limited is a global leader in allogeneic cellular medicines for inflammatory diseases and is participating in the Piper Sandler 37th Annual Healthcare Conference in New York from December 2–4, 2025 [1][2]. Company Overview - Mesoblast specializes in developing allogeneic (off-the-shelf) cellular medicines aimed at treating severe and life-threatening inflammatory conditions, utilizing a proprietary mesenchymal lineage cell therapy technology platform [3]. - The company has a strong intellectual property portfolio with over 1,000 granted patents or patent applications, providing commercial protection until at least 2044 in major markets [6]. Product Development - Mesoblast's Ryoncil® (remestemcel-L-rknd) is the first FDA-approved mesenchymal stromal cell therapy for treating steroid-refractory acute graft versus host disease (SR-aGvHD) in pediatric patients aged 2 months and older [4]. - The company is developing additional therapies for various inflammatory diseases, including SR-aGvHD in adults and biologic-resistant inflammatory bowel disease, as well as rexlemestrocel-L for heart failure and chronic low back pain [5]. Manufacturing Capabilities - Mesoblast employs proprietary manufacturing processes that yield industrial-scale, cryopreserved, off-the-shelf cellular medicines, ensuring these therapies are readily available to patients worldwide [7]. Corporate Presence - Mesoblast operates in Australia, the United States, and Singapore, and is listed on both the Australian Securities Exchange (MSB) and Nasdaq (MESO) [8].

Core Viewpoint - Mesoblast Limited, a leader in allogeneic cellular medicines for inflammatory diseases, provided a trading update and operational overview during the Chief Executive's Annual General Meeting, highlighting significant revenue growth and ongoing development of its therapies [1][2]. Financial Performance - For the quarter ending December 31, 2025, Mesoblast expects gross revenue exceeding US$30.0 million from Ryoncil sales, marking a more than 37% increase from US$21.9 million in the previous quarter [2]. Product Overview - Ryoncil (remestemcel-L-rknd) is the first FDA-approved mesenchymal stromal cell therapy for treating steroid-refractory acute graft versus host disease (SR-aGvHD) in pediatric patients aged 2 months and older [4]. - The company is also developing Ryoncil for additional inflammatory diseases, including SR-aGvHD in adults and biologic-resistant inflammatory bowel disease [5]. Technology and Intellectual Property - Mesoblast has a robust global intellectual property portfolio with over 1,000 granted patents or applications, providing commercial protection until at least 2044 in major markets [6]. - The proprietary manufacturing processes yield industrial-scale, cryopreserved, off-the-shelf cellular medicines, ensuring availability to patients worldwide [7]. Global Presence - Mesoblast operates in Australia, the United States, and Singapore, and is listed on both the Australian Securities Exchange (MSB) and Nasdaq (MESO) [8].

Core Viewpoint - Mesoblast Limited, a leader in allogeneic cellular medicines for inflammatory diseases, provided a trading update and operational overview during the Chief Executive's Annual General Meeting, highlighting significant revenue growth and ongoing development of its therapies [1][2]. Financial Performance - For the quarter ending December 31, 2025, Mesoblast expects gross revenue exceeding US$30.0 million from Ryoncil® sales, marking a more than 37% increase from US$21.9 million in the previous quarter [2]. Product Overview - Ryoncil® (remestemcel-L-rknd) is the first FDA-approved mesenchymal stromal cell therapy for treating steroid-refractory acute graft versus host disease (SR-aGvHD) in pediatric patients aged 2 months and older [4]. - The company is also developing Ryoncil® for additional inflammatory diseases, including SR-aGvHD in adults and biologic-resistant inflammatory bowel disease, while rexlemestrocel-L is being developed for heart failure and chronic low back pain [5]. Intellectual Property - Mesoblast holds a robust global intellectual property portfolio with over 1,000 granted patents or applications, providing commercial protection extending to at least 2044 in major markets [6]. Manufacturing Capabilities - The company utilizes proprietary manufacturing processes to produce industrial-scale, cryopreserved, off-the-shelf cellular medicines, ensuring availability to patients worldwide [7]. Global Presence - Mesoblast operates in Australia, the United States, and Singapore, and is listed on both the Australian Securities Exchange (MSB) and Nasdaq (MESO) [8].