Mesoblast share price rockets 30% on big US FDA news
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The market is a sea of red on Thursday but that isn’t stopping the Mesoblast Ltd (ASX: MSB) share price from rocketing.
In morning trade, the allogeneic cellular medicines developer’s shares are up 30% to a 52-week high of $2.57.
Why is the Mesoblast share price shooting higher?
Investors have been hitting the buy button this morning after the company made arguably the most important announcement in its history.
According to the release, the US Food and Drug Administration (FDA) has approved its Ryoncil (remestemcel-L) product as the first mesenchymal stromal cell (MSC) therapy in the United States.
Ryoncil is the only MSC therapy approved in the U.S. for any indication, and the only approved therapy for…
