Original article by Jessica Gardner, James Thomson
The Australian Financial Review – Page: 13 & 18 : 15-Jun-16
The market capitalisation of Australian biotechnology group Mesoblast has fallen to $A750m following a 42.2 per cent fall in its share price on 14 June 2016. The stock closed at a seven-year low of $A1.11 after Teva Pharmaceutical Industries advised that it will not finance the final round of clinical trials for Mesoblast’s stem-cell treatment for heart failure. Mesoblast had cash reserves of around $US100m at the end of the March quarter, and CEO Silviu Itescu is confident that the group can secure funding partners before its cash reserves are exhausted.
MESOBLAST LIMITED – ASX MSB, TEVA PHARMACEUTICAL INDUSTRIES LIMITED, CEPHALON INCORPORATED, CANACCORD GENUITY (AUSTRALIA) LIMITED