Why the Mesoblast share price is diving 18% after an FDA win
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The Mesoblast Ltd (ASX: MSB) share price is taking a nosedive today.
Shares in the S&P/ASX 300 Index (ASX: XKO) clinical-stage biotechnology company closed yesterday trading for $3.05. In late morning trade on Friday, shares are changing hands for $2.49 apiece, down 18.4%.
For some context, the ASX 300 is down 0.9% at this same time.
So, why is the Mesoblast share price tumbling just one day after announcing a major US Food and Drug Administration (FDA) success?
What’s going on with the Mesoblast share price today?
Well, it looks like investors aren’t favouring their sell buttons today despite yesterday’s big FDA news, but rather because of it.
With no fresh news out from the ASX biotech stock today, we…
