Mesoblast Limited (OTCMKTS:MEOBF – Get Free Report) shares dropped 40% on Wednesday. The company traded as low as $1.14 and last traded at $1.14. Approximately 200 shares were traded during trading, a decline of 100% from the average daily volume of 68,153 shares. The stock had previously closed at $1.90.
Mesoblast Price Performance
The firm has a 50-day moving average of $1.82 and a 200-day moving average of $1.69.
Mesoblast Company Profile
Mesoblast Limited is a biotechnology company focused on developing cellular medicines for serious inflammatory and immune-mediated diseases. The company’s therapies are based primarily on its proprietary mesenchymal lineage stromal cell technology, which is designed to regulate excessive immune responses and inflammation and support tissue repair.
Mesoblast’s lead product, Ryoncil (remestemcel-L), is an allogeneic mesenchymal stromal cell therapy approved in the United States for the treatment of steroid-refractory acute graft-versus-host disease in pediatric patients two months of age and older.
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