What’s happening with the CSL share price today?

The CSL Limited (ASX: CSL) share price is falling today amid the company providing an update on its research and development progress at an investor briefing.

CSL shares are currently down 1.84% to $277.52 apiece. For perspective, the S&P/ASX 200 (ASX: XJO) is 1.86% in the red.

Let’s take a look at what is going on with the ASX healthcare share.

Research and development update

A seemingly positive investor presentation has done little to help the CSL share price today.

In its presentation, CSL said it is continuing to focus on next-generation mRNA vaccines. The company also highlighted some recent achievements.

For example, Etranacogene dezaparvovec (CSL222) gene therapy for haemophilia B treatment has been accepted for review by the Food and Drug Administration in the USA and the European Medicines Agency in Europe. This will be the first gene therapy treatment for haemophilia B if approved.

Further, CSL highlighted phase three results for garadacimab (CSL321, anti-FX11a), an investigational first-in-class monoclonal antibody. This is a potential long-term treatment for patients with hereditary angioedema.

The trial has met efficacy objectives and showed tolerability and safety. The company aims to file for approval of this treatment in the next calendar year.

CSL also noted the Vifor business, acquired this year, adds therapies including nephrology, dialysis and iron deficiency.

Head of research and development and chief medical officer Dr Bill Mezzanotte said:

CSL is on the leading edge of innovation in areas we know well and we have strategically and methodically built a pipeline that has never been more robust with diverse sources of innovation, from in-house and external sources, that include the disruptive scientific platforms of gene therapy and sa-mRNA.

CSL highlighted it invested about $1.16 billion in research and development in the 2022 financial year.

What else has CSL been up to?

On Wednesday, CSL revealed it has entered a licensing agreement with Arcturus Therapeutics Holdings Inc (NASDAQ: ARCT) to access late-stage self-amplifying mRNA vaccine platform technology.

Arcturus is developing mRNA vaccines, including a potential COVID-19 vaccine.

Commenting on the news, CSL chief operating officer Paul McKenzie said: “These combined capabilities will accelerate our journey in mRNA.”

However, the CSL share price ended the day 0.19% lower.

CSL share price snapshot

The CSL share price has descended 11% in the past 12 months, while it has lost 4.5% this year to date.

For perspective, the ASX 200 has lost about 7% in the past year.

CSL has a market capitalisation of more than $134 billion based on the current share price.

The post What’s happening with the CSL share price today? appeared first on The Motley Fool Australia.

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Motley Fool contributor Monica O’Shea has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended CSL Ltd. 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 Scott Phillips.

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