Reported net cash use for operating activities during the quarter was reduced by 40%, or
About the mesoblast
Mesoblast is a world leader in the development of allogeneic (ready-to-use) cellular drugs for the treatment of serious and life-threatening inflammatory diseases. The Company has leveraged its proprietary mesenchymal lineage cell therapy technology platform to establish a broad portfolio of late-stage product candidates that respond to severe inflammation by releasing anti-inflammatory factors that counteract and modulate multiple effector arms of the immune system, leading to a significant reduction in the damaging inflammatory process.
Mesoblast has a strong and extensive global intellectual property portfolio with protection extending to at least 2041 in all major markets. The company’s proprietary manufacturing processes produce industrial-scale, cryopreserved, ready-to-use cellular drugs. These cell therapies, with defined pharmaceutical release criteria, should be readily available to patients worldwide.
Mesoblast is developing product candidates for distinct indications based on its remestemcel-L and rexlemestrocel-L allogeneic stromal cell technology platforms. Remestemcel-L is being developed for inflammatory diseases in children and adults, including steroid-refractory acute graft-versus-host disease, bioresistant inflammatory bowel disease, and acute respiratory distress syndrome. Rexlemestrocel-L is being developed for advanced chronic heart failure and chronic low back pain. Two products were marketed in
This press release contains forward-looking statements relating to future events or our future financial performance and involve known and unknown risks, uncertainties and other factors that could cause our results, levels of activity, performance or actual achievements differ materially from any future results. , levels of activity, performance or achievements expressed or implied by such forward-looking statements. We make such forward-looking statements pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and other federal securities laws. Forward-looking statements should not be construed as guarantees of future performance or results, and actual results may differ from the results anticipated in such forward-looking statements, and the differences may be material and adverse. Forward-looking statements include, but are not limited to, statements regarding: the initiation, timing, progress and results of preclinical and clinical studies of Mesoblast, as well as Mesoblast’s research and development programs; Mesoblast’s ability to advance product candidates, enroll in and complete clinical studies, including multinational clinical trials; Mesoblast’s ability to advance its manufacturing capabilities; the timing or likelihood of regulatory filings and approvals (including resubmission BLA), manufacturing activities and product marketing activities, if any; the commercialization of Mesoblast’s product candidates, if approved; regulatory or public perceptions and market acceptance surrounding the use of stem cell therapies; the possibility that Mesoblast’s product candidates, if approved, may be withdrawn from the market due to adverse events or patient deaths; the potential benefits of strategic collaboration agreements and Mesoblast’s ability to enter into and maintain established strategic collaborations; Mesoblast’s ability to establish and maintain intellectual property in its product candidates and Mesoblast’s ability to successfully defend against alleged infringement; the scope of protection that Mesoblast is able to establish and maintain for the intellectual property rights covering its product candidates and technology; estimates of Mesoblast’s expenses, future revenues, capital requirements and additional financing requirements; the financial performance of Mesoblast; developments regarding Mesoblast’s competitors and industry; and pricing and reimbursement of Mesoblast’s product candidates, if approved. You should read this press release as well as our risk factors, in our latest reports filed with the
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