Report
Chris Kallos, CFA
EUR 101.80 For Business Accounts Only

Mesoblast Remains on Track, Clinical Trial Readouts Still Ahead

We maintain our AUD 2.60 fair value estimate for no-moat Mesoblast after the company reported first-quarter 2018 results together with a progress report on several clinical trials. Disappointingly, there was no news of a partnering deal in the near term beyond management's comments that discussions remain ongoing. Liquidity, while weak, has been bolstered recently by the recent inflow of USD 40.4 million raised from an institutional and retail entitlement offer in September 2017. This has increa...
Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
Chris Kallos, CFA

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