Mesoblast (MESO) IPO Opens Lower, Trades Back Above Flat-line

Today's IPO for Mesoblast (NASDAQ: MESO) opened for trading earlier at $7.50 after pricing 7,479,617 American Depositary Shares (ADSs), at a public offering price of US$8.00 per ADS. Shares have since moved back above $8.00 to to $8.05.

J.P. Morgan and Credit Suisse are acting as the joint book-running managers and the representatives of the underwriters. Maxim and Ladenburg Thalmann are acting as co-managers.

Mesoblast has established a diverse portfolio of product candidates based on its proprietary allogeneic, off-the-shelf mesenchymal lineage cell-based technology, with multiple active Phase 3 clinical programs. Mesoblast's lead product candidates target major diseases with significant unmet medical needs despite existing therapies. These include chronic heart failure, chronic low back pain due to degenerative disc disease, and immune-mediated conditions such as acute graft versus host disease and biologic refractory rheumatoid arthritis.

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