The Mesoblast Limited (ASX: MSB) share price is marching higher today, up 2%.
Mesoblast shares closed Friday at $1.12 and are currently trading for $1.14.
Below we look at the clinical trial results that appear to be spurring investor interest in the ASX biotech share.
What trial results were announced?
The Mesoblast share price is in the green after the company reported positive results from its first patient cohort in a randomized, controlled study of remestemcel-L.
Mesoblast said that remestemcel-L was administered by direct endoscopic delivery to areas of inflammation in patients with medically refractory ulcerative colitis. You may be more familiar with the other term for the disease, Crohn’s colitis.
According to the release, rapid mucosal healing and disease remission were recorded following a single local delivery of remestemcel-L by colonoscopy. Without treatment, the patients are at high risk of needing surgery which, Mesoblast said, can have a “devastating impact on quality of life”.
Commenting on the trial, Amy Lightner, Associate Professor of Surgery at Cleveland Clinic said:
Mesenchymal stromal cells [remestemcel-L] offer a safe therapeutic for the treatment of medically refractory Ulcerative Colitis and Crohn’s colitis,” said Dr. Lightner. “Early data suggests improved clinical and endoscopic scores as early as two weeks following remestemcel-L delivery.
Mesoblast’s chief medical officer, Eric Rose added:
This randomized controlled trial is the first to evaluate local delivery of remestemcel-L directly into the inflamed colon, using objective endoscopic measures of mucosal healing, in patients with colitis who are at high risk of surgical resection of their colon.
One of the key results of the interim analysis performed in the first 12 enrolled patients was that none of them displayed any treatment related adverse effects.
And all of them had improved clinical and endoscopy scores within two weeks of treatment.
Mesoblast share price snapshot
The Mesoblast share price has struggled over the past 12 months, down 56%. That compares to a gain of 6% posted by the All Ordinaries Index (ASX: XAO) in that same period.
So far in 2022, Mesoblast shares are down 19%.
The post Here’s why the Mesoblast (ASX:MSB) share price is climbing today appeared first on The Motley Fool Australia.
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More reading
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- Here’s why the Mesoblast (ASX:MSB) share price leapt higher today
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The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
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