Shares in ASX-listed Mesoblast have soared the most in four years after US-based Celgene snapped up a stake in the regenerative medicine company and secured a first right of refusal for a selection of its products.
By 4.15pm (AEST) Mesoblast shares had jumped 24.3 per cent to $3.99 against a benchmark index fall of 0.14 per cent.
The stock earlier rocketed as much as 26.79 per cent higher to $4.07 -- the biggest rise in four years.
Celgene will purchase 15.3 million Mesoblast shares at $3.82 each for a total $58.5 million ($US45m).
According to Bloomberg, there are 324.4 million shares in Mesoblast, which means the purchase of 15.3 million by Celgene represents the acquisition of around 4.72 per cent of the company.
Further, Celgene has secured a six-month right of first refusal with respect to Mesoblast’s proprietary mesenchymal lineage adult stem cell product candidates for the prevention and treatment of acute graft versus host disease (GVHD), certain oncologic diseases, inflammatory bowel diseases, and organ transplant rejection.
Mesoblast chief executive Silviu Itescu said the company was pleased to have a global leader in development and commercialization of innovative therapies for oncologic and immune-mediated diseases such as Celegene on board.
"We look forward to working closely together and building a strong and fruitful relationship," Mr Itescu said.
Celgene president and chief operating officer Mark Alles said the deal provided an opportunity for the group to add to its leading cellular and regenerative medicine pipeline.
"We are committed to developing important new therapies for significant medical diseases that are currently not being adequately addressed," he said.
You're right, Mac ... that is the bigger picture of what is happening.
Have a good weekend!
You were right on OSIR ... I thought it might continue to be weak! I should have added some! ;-) IF it decides to move, it will run like a cat with its tail on fire! That low float is a killer for the shorts! Still think it will depend on Q revenue, though.
Well, we do have buyers today after the past couple of days' weakness. Helps, I suppose that biotech is in favor today, too. Right now, OSIR is the poster-child for laying a great foundation for GROWTH!!
Gee, "Mike" ... your last theory was that they were shorting against those $3.75 shares. Now, you claim they are supporting that price? Not saying they aren't hedging some how, but you can't have it both ways!
Osiris Therapeutics, Inc. (OSIR), the leading cellular regenerative medicine company focused on developing and marketing products to treat conditions in wound care, orthopaedic and sports medicine markets is pleased to announce the promotion of Alla Danilkovitch, Ph.D., to serve as Chief Scientific Officer.
Dr. Danilkovitch has been with Osiris since 2003; her expertise and leadership has guided the company in the development of groundbreaking scientific ideas in regenerative medicine. She has a proven record of successful product development from scientific ideas to market launch, which includes the world's first approved stem cell drug, remestemcel-L, for graft versus host disease as well as BIO4 ™ for bone repair, Cartiform® for cartilage repair and Grafix® for acute and chronic wounds. Recently, Dr. Danilkovitch and her team have developed a robust pipeline of early stage products based on cellular constructs in wound care and sports medicine.
“I am pleased that the Board has confirmed Dr. Danilkovitch as Chief Scientific Officer,” said Lode Debrabandere, Ph.D., President and Chief Executive Officer. “During the past twelve years, Alla has contributed significantly to the advancement of stem cell biology and to the discovery of therapeutic applications of the mesenchymal stem cell with Osiris. We wish Alla and her team success in further advancing the new regenerative medicine pipeline of Osiris.”
Dr. Danilkovitch has over 25 years of broad biomedical research experience including stem cell biology, immunology and cancer research. Prior to joining Osiris in April 2003, Dr. Danilkovitch conducted research at the National Cancer Institute of National Institutes of Health, the Max-Plank Institute of Biochemistry in Munich and at Moscow State University. Dr. Danilkovitch earned a Ph.D. degree in cell biology and an M.S. degree in cellular immunology and microbiology from Moscow State University
That cockroach has been on ignore for days! It's like a breath of fresh air ... try it, "they" hate to be ignored when their job is simply to distract!
Well, mac ... OSIR bounced right back to the 50ma. You might be on to something, but I don't see a catalyst for the $2-$3 rip??
Yes, DUMBO, that's it!!! BAD data! Look at the overwhelming volume running for the exits!!! Now, pls refrain from posting until it hits your magic $18!!!
"professional pumpers"? More like semi-pro bashers! You have NO clue what TROV does or doesn't do! You're right ... they'll NEVER find a CURE! lol
Oh, and Mac ... no hurry on OSIR, imo. It WILL go up based on the coming Q's increased revenue, but if the market weakens, our large short contingent will drip the price down on miniscule volume. I've seen it a hundred times! Buy THOSE dips!