Mesoblast shares shed 5% after addition to ASX 200 index

The news: Mesoblast shares fell by more than 5% in morning trade after the dual-listed biotech company was added to the ASX 200 index.

The numbers: Mesoblast shares were down 5.4% to $2.27 at 11:15am AEDT, having surged by more than 600% over the last 12 months.

The context: Melbourne-based Mesoblast first floated on the ASX in 2004 at an offer price of 50 cents per share. It then dual-listed on the Nasdaq in 2015.