|Bid||6.93 x 800|
|Ask||7.30 x 1200|
|Day's Range||7.07 - 7.28|
|52 Week Range||6.67 - 21.28|
|Beta (5Y Monthly)||2.60|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||14.42|
Mesoblast Limited (MESO) witnessed a jump in share price last session on above-average trading volume. The latest trend in earnings estimate revisions for the stock doesn't suggest further strength down the road.
Shares of Mesoblast Limited (NASDAQ: MESO) are rising sharply on Friday after the company reported positive results from a clinical trial for one of its pipeline candidates, remestemcel-L. The biotech's stock was up 7.3% as of 3:22 p.m. EDT, after soaring by as much as 24.5% earlier in today's trading session. In a clinical trial investigating the efficacy of remestemcel-L in ventilator-dependent COVID-19 patients with moderate to severe acute respiratory distress syndrome (ARDS), the medicine was shown to reduce mortality by 46% in patients under the age of 65 through day 60, but not in those aged 65 and older. Mesoblast CEO Silviu Itescu said, "Reduction in mortality in mechanically ventilated patients under 65 years old remains a critical unmet need since as many as 72% of currently hospitalized patients across the US with COVID-19 are in this age category."
Mesoblast Limited (NASDAQ: MESO) has announced 60-day results from the randomized controlled trial of remestemcel-L in COVID-19 patients with moderate/severe acute respiratory distress syndrome (ARDS), which had been halted after the third interim analysis, as previously announced. The trial enrolled 222 mechanically ventilated COVID-19 patients. Remestemcel-L reduced mortality by 46% through day 60 in the pre-specified population of 123 treated patients under age 65, 26% vs. 42%, Hazard Ratio (HR) 0.54. The treatment has similar effects on mortality in these patients with either moderate ARDS (HR 0.56) or severe ARDS (HR 0.56). The standard of care changed during the course of the trial to incorporate dexamethasone. Remestemcel-L reduced mortality through day 60 by 75% compared to controls in patients under 65 who received dexamethasone as part of their standard of care, 14% vs. 45%, HR 0.25. Remestemcel-L increased days alive off the ventilator within 60 days and reduced time to discharge from initial hospitalization compared to controls in patients under 65 who received dexamethasone. Mesoblast entered into a license and collaboration agreement with Novartis AG (NYSE: NVS) for the development, manufacture, and commercialization of remestemcel-L, with an initial focus on treating ARDS, including that associated with COVID-19. The company will hold a webcast at 9 A.M ET today. Price Action: MESO shares are up 5.1% at $7.59 in the premarket on the last check Friday. See more from BenzingaClick here for options trades from BenzingaAbbVie Beats Q1 Earnings On Strong Humira Sales, Raises Full-Year Profit ForecastHill-Rom Q2 Earnings Exceed Expectations; Raises Fiscal 2021 Outlook© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.