Mesoblast gets a lifeline via $ 138 million funding agreement

Mesoblast gets a lifeline via $ 138 million funding agreement

The half-year accounts showed a net cash outflow of US $ 60.1 million during the half-year. The biotech has a debt of 50 million dollars with the American company Hercules. In January, it extended the interest-only loan period until March. She also has $ 30 million in debt with NovaQuest.

The group has $ 91 million in contractual cash outflows expected over the next 12 months, including $ 29 million in trade payables. Mesoblast is due to pay Swiss group Lonza $ 40 million over the next three years under a “ take or pay ” manufacturing contract. The group consumes approximately $ 10 million per month in cash.

The most short-circuited

Mesoblast’s share price fell about 45%, from $ 4.54 in mid-December to $ 2.46 when trading closed last Thursday. It fell 12 ¢, or 4.9 percent, to $ 2.34 on Tuesday.

Mesoblast is among the top four selling stocks on the ASX, with 8.85% of its ledger held short, according to shortman.com.au. Investors who are short expect the stock to fall.

New investor SurgCenter Development is a funding partner with surgeons, who come together to build centers in the United States specializing in spinal, orthopedic and total joint procedures.

Mesoblast founder and CEO Silviu Itescu said the investor group’s deep health expertise would be of great benefit to the company.

“The network and infrastructure of surgeons and outpatient centers operated by SurgCenter can provide unique synergies to facilitate development and market access for…

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