Mesoblast Reports 22pc reduction in cash usage this quarter
- Mesoblast (MSB) reports a 22 per cent reduction in cash usage for its operating activities over the September 2022 quarter
- During the quarter, The company saw its net cash usage for operating activities hit US$14.3 million (A$22.29 million), representing a 47 per cent reduction on the same quarter in FY21
- The company reported its cash on hand at the end of the quarter hit US$85.5 million, after raising gross proceeds of US$45 million in a private placement in August
- Meanwhile, the company used the period to submit “substantial” new information on clinical and potency assay items to the US FDA for its remestemcel-L drug
- The company is up 2.82 per cent, trading at 91 cents at 3:48 pm AEDT
