Mesoblast shares lift on Q1 report, 69% net sales gain for Ryoncil
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The news: Mesoblast shares lifted after the biotech issued a quarterly activity and cash flow report, as cell therapy revenue gained, driven by sales in its flagship product Ryoncil.
The numbers: At 12:03pm AEDT, shares in Mesoblast had lifted 2.3% to $2.68 and were up 65.5% over the last six months.
Mesoblast’s revenue from cell therapy products was USD20.6 million ($31.7 million) in the September quarter, up from USD12.9 million in the previous quarter. This was more than 10 times greater than Q1 FY25.
This was driven by Ryoncil gross sales increase of 66% to USD21.9 million, as previously flagged. Net sales increased by 69% to USD19.1 million after 12.7% gross to net adjustment.
Net operating cash spend came in at USD14.9 million, a reduction of USD1.7 million compared to the prior quarter. Cash on hand as of 30 September was USD145 million.
What they said: "Revenue from sales of Ryoncil continue to increase, driven by greater physician adoption with reimbursement from both commercial and government payers," Mesoblast chief executive Silviu Itescu.
The source: ASX
