Mesoblast Stock Gains 10%

(RTTNews) - Mesoblast Limited (MESO) shares rose $1.54, or 9.91 percent, to $17.14 on Monday, possibly following the company's announcement that it had completed patient treatment in its pivotal Phase 3 trial of rexlemestrocel-L for chronic low back pain.

The stock opened at $17.21 and traded between $16.87 and $17.48 during the session on the Nasdaq. It has traded in a 52-week range of $12.66 to $21.50. Trading volume reached 0.22 million shares, compared with an average daily volume of 0.22 million shares.

The MSB-DR004 trial treated 350 patients with either rexlemestrocel-L or a sham injection, exceeding the initial target of 300 patients. The trial's primary endpoint is durable pain reduction at 12 months, with results expected in mid-2027. The therapy has received RMAT designation from the U.S. FDA.