Mesoblast (OTCMKTS:MEOBF) Shares Down 8.8% – Here’s Why

Mesoblast Limited (OTCMKTS:MEOBF – Get Free Report)’s share price traded down 8.8% during mid-day trading on Monday . The stock traded as low as $1.55 and last traded at $1.55. 2,000 shares changed hands during mid-day trading, a decline of 20% from the average session volume of 2,486 shares. The stock had previously closed at $1.70.

Mesoblast Stock Down 8.8%

The firm has a fifty day simple moving average of $1.66 and a 200-day simple moving average of $1.61.

Mesoblast Company Profile

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Mesoblast Limited (OTCMKTS:MEOBF) is a global leader in regenerative medicine focused on the development and commercialization of innovative allogeneic cell therapies. The company’s proprietary platform harnesses mesenchymal lineage adult stem cells to address a range of inflammatory and immunological conditions. Mesoblast’s pipeline includes multiple late-stage and marketed products that target serious diseases with high unmet medical needs.

The company’s lead product, remestemcel-L (Ryvicor/Ryoncil), is under development for the treatment of steroid-refractory acute graft versus host disease in pediatric patients and has received conditional approval for certain indications in Japan.

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