Mesoblast Limited reported a 44% increase in first-quarter net revenues, reaching US$28 million, driven by continued sales momentum for Ryoncil. Net operational cash spend improved by 86% to US$2.1 million compared to the prior year period. The company completed treatment of all patients in the pivotal Phase 3 MSB-DR004 trial for rexlemestrocel-L in chronic low back pain, with results expected next year. Additionally, Mesoblast held a positive meeting with the FDA regarding the planned Biologics License Application for rexlemestrocel-L to prevent gastrointestinal bleeding in heart failure patients. The company holds US$98.5 million in cash and has fully drawn its US$125 million credit facility.
