Biotech Shares Soar Following Major Announcement

An Australian biotech company stole the show on Wednesday after it was announced that Blood and Marrow Transplant Clinical Trials Network (BMT CTN), a body including centers responsible for approximately 80% of all US allogeneic BMTs, has entered into an agreement to develop a pivotal trial of the company’s lead product in the treatment of adults with steroid-refractory acute graft versus host disease (SR-aGvHD), according to the release.

While the press release was pretty technical in nature, the bottom line is traders were excited about the news as shares of Mesoblast Limited (Nasdaq:MESO) went soaring on Wednesday. Shares of this small cap reached $1.33/share (+9.92%) at the early session high.

Mesoblast Ltd is a clinical-stage biotechnology company. It develops and commercializes innovative allogeneic cellular medicines to treat complex diseases resistant to the conventional standard of care. Its portfolio of Phase 3 product candidates comprises remestemcel-L for the treatment of steroid-refractory acute graft versus host disease (SR-aGVHD), and for moderate to severe acute respiratory distress syndrome (ARDS) and others.

Copyright © 2023 AllPennyStocks.com. All rights reserved. Republication or redistribution of AllPennyStocks.com’s content is expressly prohibited without the prior written consent of AllPennyStocks.com. AllPennyStocks.com shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

]]>