Mesoblast posts 37% rise in quarterly revenue from Ryoncil sales
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The news: Dual-listed biotech Mesoblast said it expects a 37% jump in gross revenue from sales of its Ryoncil cell therapy in the December quarter.
The numbers: Gross revenue from the product is expected to exceed USD30 million ($46.4 million) for the quarter, up from USD21.9 million in the September quarter.
Since launching in the US in March, Ryoncil has generated $20.3 million in gross revenue for the June quarter, and $33.1 million for the September quarter.
The context: Ryoncil is designed to treat children with steroid-refractory acute graft-versus-host disease, a high mortality risk complication of stem cell transplants.
The US Medicare and Medicaid Services J-Code for Ryoncil became active on 1 October, which Mesoblast says will make the product “easier to bill and pay for”, which could increase its accessibility.
The source: ASX
