Insights

Mesoblast (ASX:MSB) share price soars 14% on clinical trial results

The Mesoblast share price soared today as the company announced positive clinical trial results. We take a closer look.
The post Mesoblast (ASX:MSB) share price soars 14% on clinical trial results appeared first on The Motley Fool Australia. –

man holding bunch of balloons soaring through the air signifying asx share price rise

The Mesoblast Limited (ASX: MSB) share price rocketed on news that the company’s drug, rexlemestrocel-L, is showing promising signs.

The Mesoblast share price closed today’s trade 14.29% higher at $2.56 per share. Notably, today is the highest its shares have been since the failure of remestemcel-L in treating COVID-19 patients was announced in late December.

Why is the Mesoblast share price soaring?

Mesoblast announced that a single dose of its drug rexlemestrocel-L provides a reduction in heart attacks, strokes and cardiac death in patients with chronic heart failure.

The results come from its landmark, randomised controlled phase 3 trial with 537 patients. Of the patients, who all had chronic heart failure, some received rexlemestrocel-L and others received a control sham. The study found that a single dose of the drug resulted in a substantial and durable reduction in heart attacks, strokes, and cardiac deaths. The patients were monitored for 30 months after the dose was administered.

Since the existing therapies have very minimal benefit on these same endpoints, Mesoblast claims that these results may signal a breakthrough in addressing certain unmet needs with patients who have chronic heart failure.

Heart attacks and strokes were reduced by 60% from a single dose, while incidence of death from rexlemestrocel-L was also reduced by the same amount. Across the board the drug reduced all 3 outcomes of death by 30%.

This comes as a sharp turnaround from the news Mesoblast released on 15 December that there was no reduction in the recurrent non-fatal decompensated heart failure events from the drug, which caused its share price to fall by 15%.

Chronic heart failure affects 6.5 million people in the US and 26 million globally, with those numbers increasing in prevalence and incidence every year.

About the Mesoblast share price

The Mesoblast share price was particularly volatile in 2020, rising as high as $5.70 and dropping as low as $1.02. Nonetheless the recent news has pushed shares in the company higher, resulting in a 1-year return of 11.79%.

Where to invest $1,000 right now

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

See The 5 Stocks

*Returns as of June 30th

More reading

Motley Fool contributor Daniel Ewing has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The post Mesoblast (ASX:MSB) share price soars 14% on clinical trial results appeared first on The Motley Fool Australia.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;


To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.


An active and funded account with a positive trading balance is required to continue to have access to the tools;


Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;


Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!