Mesoblast - Confident management
Mesoblast has raised cash and cleared an interim futility analysis of its Phase III heart failure (HF) trial, will complete enrolment in H218 vs H217. In 2017, Mesoblast expects data from a Phase III trial in paediatric graft vs host disease (GvHD) by H217. An NIH-funded Phase IIb in end-stage HF may be reported by NIH in Q417. Mallinckrodt has an option until the end of Q3 to in-license the GvHD and the Phase III in chronic low-back pain (full enrolment expected in H217). Our indicative valuation is unchanged at A$1.72bn (A$4.02 per share) as we await these potential catalysts.Mesoblast is engaged in the development of regenerative medicine products. Co. has leveraged its proprietary technology platform, based on specialized cells known as mesenchymal lineage adult stem cells ("MLCs"), to establish a portfolio of late-stage product candidates. Co.'s allogeneic, "off the shelf" product candidates target advanced stages of diseases with high, unmet medical needs including cardiovascular conditions, orthopedic disorders, immunologic and inflammatory disorders and oncology and hematologic conditions. Each MLC-derived product candidate has technical characteristics, target indications, reimbursement strategy, commercialization potential, and partnering opportunities.
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