Biotech Distilled
Substack ↗ Subscribe
Subscribe Substack ↗ About

Home › Companies › MESO

Mesoblast

MESO Rare disease Lead: Approved 3 Biotech Distilled articles ↓ 34 filings & releases ↓ Cash $130M (Dec 31, 2025) ↓ 3 verdicts ↓
CardiovascularGI/HepatologyImmunologyNeurology Cell

Market cap $1.85B 129.7M shares (vendor count, Nov 7, 2026) × $14.27 close Nov 6, 2026 · share count from the market-data vendor, not the SEC cover page

Most recent annual filing: 2026-08-27

Catalyst timeline

11 trackedQuarter catalyst calendar →
  1. Revascor LVAD BLA filing2026Revascor LVAD BLA filing, 2026, notable
  2. Mesoblast corporate updateNov 10, 2026Mesoblast corporate update, Nov 10, 2026, routine
  3. Capricor deramiocel read-through PDUFA dateNov 22, 2026Capricor deramiocel read-through PDUFA date, Nov 22, 2026, material
  4. Ryoncil pediatric corporate updateJan 2027Ryoncil pediatric corporate update, Jan 2027, routine
  5. Mesoblast corporate updateFeb 2027Mesoblast corporate update, Feb 2027, routine
  6. MSB-DR004 Rexlemestrocel-L topline2H 2027MSB-DR004 Rexlemestrocel-L topline, 2H 2027, thesis-defining
  7. Lonza manufacturing suite updateJul 1, 2027Lonza manufacturing suite update, Jul 1, 2027, routine
  8. Mesoblast corporate updateAug 2027Mesoblast corporate update, Aug 2027, routine
  9. Ryoncil adult SR-aGvHD interim4Q 2027Ryoncil adult SR-aGvHD interim, 4Q 2027, material
  10. Ryoncil CMC commitments manufacturing updateDec 31, 2027Ryoncil CMC commitments manufacturing update, Dec 31, 2027, routine
  11. Ryoncil adult SR-aGvHD readout2028Ryoncil adult SR-aGvHD readout, 2028, notable

Bar width shows how precise the guidance is — a pin is a stated date, a wide band a six-month window. Deeper blue means more of the thesis rides on the event; it is not a view on the stock.

Pipeline (5 active programs)

Ryoncil

remestemcel-L-rknd · remestemcel-L
Cell
  • Acute Graft Versus Host Disease Approved Blood and Marrow Transplant Clinical Trials Network NCT02652130

Technology platforms

CAR technology platform · Mayo Clinic

Patented CAR (chimeric antigen receptor) technology platform developed at Mayo Clinic, acquired by Mesoblast for precision-enhanced augmentation of its proprietary MSC (mesenchymal stromal cell) products

CAR-MSC · Mayo Clinic

Chimeric antigen receptor (CAR) technology platform for precision-enhanced augmentation of therapeutic mesenchymal lineage stromal cell (MSC) products. Engineered CARs designed to enhance target specificity, homing to inflamed tissue, and augment immunomodulation and tissue regeneration. Disease focus areas include ulcerative colitis, Crohn's disease, Lupus Nephritis, and B cell autoimmune diseases. Foundational work developed at Mayo Clinic and published in Nature Biomedical Engineering.

Targets: CD19, ECAD, MOG, COL2A1, AMPA, CCN1

CAR-MSC

Chimeric antigen receptor (CAR) technology platform for precision-enhanced augmentation of mesenchymal stromal cell (MSC) therapeutic products; disease focus includes ulcerative colitis, Crohn's disease, Lupus Nephritis, and B-cell autoimmune diseases

Targets: CD19

OV-MSC · Baylor College of Medicine

Oncolytic virus loaded mesenchymal stromal cells — next-generation platform delivering oncolytic viruses systemically to primary and metastatic tumors; oncolytic virus technology exclusively licensed from Baylor College of Medicine

Capital (as filed)

Cash
$130M cash and cash equivalents · Dec 31, 2025 (6-K)
As stated in coverage
$98.5M cash per the update of Oct 29, 2026 — the company's own words as read there, not the filed figure

Cash, investments and operating cash flow are the company's own XBRL facts as filed with the SEC, each shown with its period end and tag. As-stated figures come from the company's own words as read in Biotech Distilled coverage, dated, and routinely count securities and planned financing that a balance sheet does not. Offering rows are the SEC cover pages as filed. Not investment advice. Figures as of Nov 7, 2026.

Biotech Distilled coverage (3)

Articles open on Substack. Some are subscriber-only; those marked ★ Distilled Pro are for Distilled Pro members.

Verdict history (3 calls)

Every verdict Biotech Distilled has published on Mesoblast, oldest first — the full history, never a selection. How calls are scored: the track record.

  1. 2026-10-29 Watch Mesoblast Limited (MESO) - Scientific Deep Dive for Ryoncil, Rexlemestrocel-L and Pipeline Products At $1.74B the market already prices roughly a 30% chance of a back-pain win, which looks about right but offers no margin of safety; revisit only if DR004 hits, Ryoncil recovers, the LVAD BLA is accepted, or governance stabilises.
  2. 2026-10-30 Watch UPDATE: Mesoblast (MESO) - The 4C Answers My Question, the Stock Doesn't Care None of the four upgrade triggers has fired — DR004 is still a 2027 event, the LVAD BLA is not yet submitted, the December quarter is unreported, and the AGM is pending — while the stock at $15.67 now prices ~45% back-pain odds, above the author's probability-weighted fair-value range.
  3. 2026-11-03 Watch UPDATE: Mesoblast (MESO) - Two Chairs Empty, Eight Days Before the Vote Two independent directors retiring with no named successors eight days before George's nominee stands for election sharpens governance risk, but the PASS trigger (loss of independent majority) cannot be confirmed until the 10 November AGM result is known.

Every verdict Biotech Distilled has published on this company, in order, with the post it came from — the full history, never a selection. Position figures are the same ones shown on /track-record, computed by the same method. Editorial opinion, not investment advice.

Filings & releases (34)

SEC filings from EDGAR and press releases captured from the company's investor-relations site, newest first. Releases captured from Oct 29, 2026; filings from March 2026. Summaries come from the BD update that read the document; "BD extracted" counts point at the pipeline table above. All companies →

1 more filing (13G holder notices, S-8, proxy material, SEC correspondence …)