The US regulator hasn’t approved Mesoblast’s application
Shares halved on the news
Market sceptics say the biotech has taken too long to commercialise its products
Mesoblast investors are used to trying to read the tea leaves ahead of a major announcement. August 2 – the deadline the US Food and Drug Administration had given to rule on its latest application – proved to be no different.
For its supporters, FDA approval would be the ultimate retort: a way to prove the sceptics wrong and, at the same time, push new medical boundaries. Gabriele Charlotte
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Jemima Whyte writes on business, specialising in companies, capital markets and innovation. Jemima has reported on business for The Australian Financial Review for more than 13 years. Email Jemima at jemima.whyte@afr.com
