Shares of Mesoblast Limited (MESO) surged over 44% on Thursday morning after the U.S. FDA approved Mesoblast's Ryoncil for the treatment of steroid-refractory acute graft-versus-host disease.
MESO is currently trading at $17.66, up $5.41 or 44.15%, on the Nasdaq. The stock opened its trading at $18.61 after closing Wednesday at $12.25. The stock has traded between $1.61 and $19.15 in the past 52-week period.
The U.S. Food and Drug Administration approved Mesoblast's Ryoncil or remestemcel-L-rknd, an allogeneic (donor) bone marrow-derived mesenchymal stromal cell therapy indicated for the treatment of steroid-refractory acute graft-versus-host disease (SR-aGVHD) in pediatric patients 2 months of age and older, including adolescents and teenagers.
Ryoncil will be available in the United States at transplant centers and other treating hospitals.
Ryoncil is the first FDA-approved mesenchymal stromal cell (MSC) therapy. It contains MSCs, which are a type of cell that can have various roles in the body and can differentiate into multiple other types of cells. These MSCs are isolated from the bone marrow of healthy adult human donors.
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