Aug.09 — President Donald Trump signed an executive order that provides an extra $400 a week in jobless benefits — down from $600 weekly that had been provided through last week, authorized by a Congressional stimulus bill in March — and that states would be responsible for covering 25% of that cost. He spoke on Saturday in New Jersey.
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Australia’s fight against coronavirus continues with Victoria in lockdown as the government battles to suppress the virus. Managing the pandemic involves a host of government and private sector resources, with many ASX shares involved in the fight. ASX companies are involved in everything from manufacturing PPE, to testing for the virus, to supplying equipment and treatments to assist COVID-19 patients.
Here we take a look at 3 ASX shares that are actively involved in the fight against coronavirus.
Atomo Diagnostics operates in the medical device space, emerging as a leader in the development of point of care devices for rapid diagnostic testing (RDT). The company’s AtomoRapid RDT platforms are customisable to suit a variety of applications, including screening for chronic conditions and detection of infectious diseases. This week the Therapeutic Goods Administration (TGA) approved Atomo’s COVID-19 rapid antibody test.
The TGA approval means Atomo can now sell the COVID-19 tests to medical professionals. The test is jointly manufactured with a French company, NG Biotech, which manufactures the test strip. Atomo manufactures the testing device. The test has already been approved and sold in France by NG Biotech. Atomos is in commercial discussions to assess distribution channels for the test in Australia.
“We see strong potential use of our test across a number of channels in Australia and we believe TGA approval will accelerate these negotiations,” Managing Director John Kelly explained.
“The proven ease of use of the Atomo device in the field makes our test well suited for deployment in a large country like Australia, with a variety of point of care settings,” he added.
The Atomos share price gained 17% at its peak following announcement of the TGA approval. The share price has since settled somewhat and is currently trading 11.7% up from its pre-announcement price. The company only debuted on the ASX in April, becoming the first company to do so since the pandemic took hold. Atomos raised $30 million from its IPO at an offer price of 20 cents per share. With shares now trading at 34 cents, IPO investors are already sitting on a substantial profit.
Resmed is a medical equipment company that provides devices for the treatment of sleep apnea and chronic obstructive pulmonary disease (COPD). The company makes continuous positive airway pressure masks and machines and life support ventilators. Production of the latter was ramped up in response to the COVID-19 pandemic with the machines used to help patients breathe while their immune system fights coronavirus. Resmed pivoted its business in response to the pandemic, increasing manufacture of ventilators and mask systems for hospitals treating pandemic patients.
Resmed’s long term strategy revolves around supporting customers with digital health technologies and out-of hospital management software. This enables better care for those suffering from sleep apnea, COPD, and asthma. Over the longer term, Resmed believes its strong foundation will accelerate adoption of digital health solutions in the respiratory medicine field. In the meantime, the company is actively involved in the delivering solutions used in the treatment of coronavirus patients.
The increased demand for Resmed products has been reflected in its results. Revenue increased 9% in the fourth quarter to $770.3 million, and 13% over the full year to $3 billion.
Mick Farrell, Resmed’s CEO, commented: “Throughout our fiscal fourth quarter we continued to support the COVID-19 pandemic response through increased manufacturing of our ventilators while also supporting our customers with digital health solutions and other innovative tools to enable remote care for patients.”
In FY20, Resmed’s net operating profit increased 40%, giving NON-GAAP diluted earnings per share of $4.76, up from $3.64 in FY19. But this wasn’t enough for investors, who sent the Resmed share price tumbling last week when results were announced. The share price has fallen 11.7% since results were released with shares currently trading at $24.79 (at the time of writing). But the Resmed share price is still up more than 27% over the past year, so investors are looking at solid returns.
Fisher & Paykel Healthcare manufactures products and systems used in respiratory care, acute care, and in the treatment of obstructive sleep apnea. The healthcare company upgraded its earnings guidance early in the pandemic as demand for its respiratory humidifiers and consumables increased. Both are used directly in treating coronavirus patients.
Fisher & Paykel also benefitted from stronger sales in its homecare product range and a weakening of the NZ dollar, leading it to update revenue and profit guidance to $1.24 billion and $275 million–$280 million, respectively.
Fisher & Paykel’s financial year ended 31 March 2020 with the company exceeding its forecasts. Operating revenue was $1.26 billion, up 18% on the previous year. Net profit after tax was $287.3 million. The increase in revenue was largely driven by demand for products to treat COVID19 patients, as well as strong hospital hardware sales and demand for Fisher & Paykel’s Optiflow nasal high flow therapy.
“The 2020 financial year was already on track to deliver strong growth before coronavirus impacted sales,” said Managing Director and CEO Lewis Gradon. “Beginning in January, the demand for our respiratory humidifiers accelerated in a way that has been unprecedented.”
By adopting new processes and procedures, the company was able to double, and in some instances, triple, output for some hospital hardware products over just a few months.
The hospital product group, which includes products in respiratory and acute care, saw operating revenue increase 25%. The homecare product group, which includes products used in the treatment of obstructive sleep apnea and home respiratory support, saw revenue rise 9%.
Fisher & Paykel’s priority is to invest in the business to support long term sustainable growth. Dividends are expected to increase as earnings grow, taking into consideration the company’s target gearing ratio. Investors have been impressed by Fisher & Paykel Healthcare’s growth, sending the share price up 110% over the past year.
These ASX shares are directly involved in the fight against coronavirus. From diagnosing the disease to treating its patients, these ASX shares are combatting the pandemic while delivering strong returns to shareholders.
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Motley Fool contributor Kate O’Brien has no position in any of the stocks mentioned. The Motley Fool Australia has recommended ResMed Inc. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. 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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The coronavirus-fueled stock market sell-off in March didn't prevent workers from piling money into their nest eggs, according to a new study from Fidelity Investments.
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Investment platform provider CommSec has just released data on the five most traded ASX shares on its platform from last week.
Once again, the list includes two of the most popular buy now pay later providers on the ASX. They were joined by two of the big four banks and a beaten down travel company.
Here’s the data:
National Australia Bank shares were popular with investors last week and were the most traded on the CommSec platform. The NAB share price tumbled 4% over the period, possibly due to a broker notes out of Macquarie. Although the broker downgraded NAB to an underperform rating with a $17.50 price target, there were still more buyers than sellers. NAB shares accounted for 2.1% of total trades on the platform, with buyers accounting for 75% of these trades.
This buy now pay later provider continues to be popular with CommSec investors. It was responsible for 2% of all trades on the platform during the week. And although the buying and selling was evenly split, the Zip Co share price pushed 4% higher during the week.
Another buy now pay later provider that remains popular with investors is Afterpay. It accounted for 1.7% of total trades on the CommSec platform last week. However, there were more sellers than buyers, with 59% of trades coming from sellers. Despite this, the Afterpay share price rose 3.15% over the period. This stretched its year to date gain to almost 150%.
Westpac was among the most traded shares for a second week in a row. The banking giant’s shares accounted for 1.6% of trades on the CommSec platform, with 71% of these trades from buyers. Despite this buying pressure, it wasn’t enough to stop the Westpac share price from losing 2% over the period. However, these buyers have been rewarded this week, with the big four banks charging higher on Monday and Tuesday.
This travel agent’s shares have entered the top five, contributing 1.5% of total trades on the CommSec platform. With 65% of these trades coming from buyers, it appears as though investors may believe recent share price weakness has been a buying opportunity. This has certainly proven to be the case this week. The Flight Centre share price is up 9% week to date at the time of writing.
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James Mickleboro owns shares of Westpac Banking. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of ZIPCOLTD FPO. The Motley Fool Australia owns shares of AFTERPAY T FPO. The Motley Fool Australia has recommended Flight Centre Travel Group Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. 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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The S&P/ASX 200 Index (ASX: XJO) is having a top day today. On the surface, the 0.88% gain the ASX 200 has so far added today (at the time of writing) doesn’t seem that special. But consider this: with this rise, the ASX 200 is sitting at 6,164.10 points, its highest level since early March. Between 23 March and 9 June, the index rose around 35% off of its low. But since then (over a period of 2 months), the ASX 200 has essentially been stuck in a rut around the 6,000 point mark.
Just take a look at the chart below for some context:
S&P/ASX 200 Index 6-month pricing data | Source: fool.com.au
See what I mean?
And yet today, the rut has seemingly been broken. So is the ASX 200 about to take off once again? Remember, although investors have enjoyed some solid gains since March, the ASX 200 is still down around 14% from the highs we saw back in February.
I think there are 2 reasons why ASX shares are moving higher this week (so far anyway).
Firstly, commodity prices have been pushing higher in recent weeks. We have seen iron ore holding around US$117 a tonne, as well as gold making new record highs above US$2,000 an ounce. Some of the ASX 200’s largest holdings are iron ore miners like BHP Group Ltd (ASX: BHP), Rio Tinto Limited (ASX: RIO) and Fortescue Metals Group Limited (ASX: FMG). The ASX’s largest gold miner Newcrest Mining Limited (ASX: NCM) is no minnow either at a near-$30 billion market capitalisation. These companies are all at or near multi-year highs today, which has helped push the index higher.
Secondly, investors now have increased confidence over the government backstop over the economy. The federal government has confirmed subsidies like JobKeeper and the coronavirus supplement are sticking around until at least the end of the year (March 2021 in JobKeeper’s case). Right now, I think it’s fair to say that these programs are holding the economy up, and their previously-scheduled September end date was a concern for many investors. Knowing this safety net will remain in place for at least the rest of the year is helping to boost investors’ confidence, in my view.
Perhaps the ASX 200 pushes even higher from here, reclaiming the 7,000 point threshold we saw at the start of the year. Perhaps the market retreats tomorrow back into its 6,000 point rut. Frankly, I, nor anyone else, has no idea of what will happen next. Here’s what we do know though. The coronavirus crisis, unfortunately, isn’t going away anytime soon. In fact, it may well get worse before it gets better (fingers crossed for the negative).
I see a lot of downside risk right now, and not much to make me confident in a huge climb higher. I’m not selling shares of my favourite companies, mind you. But I am trying to maximise my cash position all the same.
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Motley Fool contributor Sebastian Bowen owns shares of Newcrest Mining Limited. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. 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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The Goodman Group (ASX: GMG) share price gained 14.0% in July. That came during a difficult month for many real estate-focused shares, and a month that saw the S&P/ASX 200 Index (ASX: XJO) gain only 0.5%
Like the vast majority of Australian companies, the Goodman Group share price took a heavy hit from the COVID-19 sharemarket selloff in February and March. Goodman shares tumbled more than 42% from 19 February to 19 March.
Then things turned around for the company. The Goodman Group share price rallied strongly from its 19 March low, gaining 75% by the closing bell on 31 July, trading for $16.93 per share.
Year-to-date, the group’s share price is up an impressive 33%. At the current share price of $17.98 per share, Goodman has a market cap of 32.9 billion.
Goodman Group is an integrated property group with operations throughout Australia, New Zealand, Asia, Europe, the United Kingdom, North America and Brazil.
The group was formed following the merger of Macquarie Goodman Industrial Trust and Macquarie Goodman Management in 2005. Goodman operates 4 divisions: property investment, fund management, property services and property development.
Today, Goodman Group is the largest real estate investment trust (REIT) in Australia, which makes Goodman shares a favourite of listed property enthusiasts. Goodman shares first listed on the ASX on 2 February 2005. The group now takes its place as one of the largest companies on the Australian sharemarket, with total assets under management of $55 billion across 395 properties globally as of March 2020.
While many REITs have struggled with the pandemic shutdowns, the Goodman Group share price had more than recouped all of its February and March losses, and then some, by the end of July.
Much of Goodman’s share price success is due to the company’s large exposure to industrial properties like warehouses and logistics facilities. The surge in online shopping and delivery services during the pandemic has seen a sharp increase in demand for these facilities. The group counts Amazon.com (NASDAQ: AMZN) as its largest client.
And Goodman Group’s future growth outlook is strong, with $4.8 billion of development work underway.
The Goodman Group share price also received a lift in early in July after analysts at Macquarie Group Ltd (ASX: MQG) named it as one of their best buy ideas for the reporting season currently underway.
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In this FREE STOCK REPORT, Scott just revealed what he believes are the 3 ASX stocks for the post COVID world that investors should buy right now while they still can. These stocks are trading at dirt-cheap prices and Scott thinks these could really go gangbusters as we move into ‘the new normal’.
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John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and recommends Amazon and recommends the following options: short January 2022 $1940 calls on Amazon and long January 2022 $1920 calls on Amazon. The Motley Fool Australia owns shares of and has recommended Macquarie Group Limited. The Motley Fool Australia has recommended Amazon. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. 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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ASX reporting season is upon us. A handful of companies have already released their full year or quarterly results. But the bulk are yet to come. ASX bank shares will be among those dominating the financial news headlines, particularly when the big four banks release their reports.
Tomorrow, Commonwealth Bank of Australia (ASX: CBA) releases its full year report. It’s the first of the big four banks to do so.
National Australia Bank Ltd. (ASX: NAB) is up next, releasing its third quarter results on Friday.
Next week, Westpac Banking Corp (ASX: WBC) releases its third quarter report on Tuesday 18 August. Australia and New Zealand Banking Group Limited (ASX: ANZ) follows with its third quarter results next Wednesday.
Avert your eyes!
That may seem like odd investment advice. And ordinarily it would be. But these are no ordinary times.
We’re not talking about the trade ructions between the United States and China here, disputes that inevitably envelop Australia. Or the diplomatic wrangling between the United Kingdom and the European Union over who gets to fish where post-Brexit. Or even the nuclear sabre rattling by despots like North Korea’s Kim Jong-un.
Unfortunately, all these events — and a laundry list of others — are very much part of our ordinary times. But the COVID-19 pandemic — and the lockdown measures put in place around the globe to contain it — are not.
Which is why I believe you should take the results from the current reporting season with a very large grain of salt. But don’t just take my word for it.
ST Wong is the Chief Investment Officer of Prime Value Asset Management, which manages more than $1.5 billion in assets. Here’s what he wrote in last Wednesday’s Australian Financial Review:
“Compared to previous years, financial guidance from companies will be less forthcoming, leading to large dispersions in analysts’ estimates for the 2021 financial year. Companies’ cash flows will be distorted by provisions for bad debts, inventory and working capital build-ups. Against this backdrop, companies that demonstrate visibility in earnings growth, strong cash flow conversion, robust balance sheets and management adaptability to change will be bid up”.
And it’s not just companies struggling to forecast their financial outlooks. States and governments are also mired in uncertainty.
In her speech last Friday, the Reserve Bank of Australia’s Assistant Governor, Luci Ellis, outlined the economic ambiguities thrown up by the coronavirus, saying:
“The course of the virus is very uncertain, and so will be people’s responses to it. Given this uncertainty, we have again presented the outlook in the form of three scenarios. The difficult situation in Victoria is an example of how quickly this can change”.
Treasurer Josh Frydenberg concurred, stating, “We’re living in unprecedented times, with a once in a century pandemic, and it’s a very fluid situation”.
With uncertainty claiming the day — and the coming months — day trading shares has never been riskier.
Traders with cast iron stomachs will tell you that along with that higher risk comes the potential for higher rewards. And that’s true. But that’s not unlike your potential rewards going up when you bet on the long-shot horse winning the Melbourne Cup.
The odds of consistently correctly guessing the next phase of Australia’s battle against the virus —and which shares stand to gain or lose short term — are long indeed.
That’s why The Motley Fool’s own Scott Phillips recommends the ‘buy to hold’ investing style. That’s to discern it from ‘buy and hold’, which traders are quick to criticise as they see that as holding onto every share you buy and never checking in on its performance or outlook again.
But as Scott writes: “In whatever form, using whatever words, the idea of buying great businesses and holding them for as long as it makes sense is a tried and tested approach to investing well. It’s our preferred approach, and one we’re using in our continued quest for market-beating returns”.
With ASX bank shares facing a potential hit during the coming reporting week, some traders will be betting against them by shorting their shares. That may, or may not work out in the short run.
But longer term, you should keep in mind that ASX bank share prices are still well down from their February highs: CommBank’s share price is down nearly 17%; ANZ’s share price is down just under 32%; NAB’s share price is down over 34%; and the Westpac share price is down nearly 31%.
If you have a long-term investing horizon (at least 3 to 5 years), you may want to see how the market reacts to the banks’ upcoming reports, then consider buying shares of what have historically been some of the best dividend paying shares on the ASX.
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Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. 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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The Silver Mines Limited (ASX: SVL) share price is up almost 150% in the last month alone. At the same time, the silver price has risen more than 50% as well. It has been an impressive month all round for the silver industry, so is now a good time to buy Silver Mines shares?
Silver Mines holds the largest undeveloped silver project in Australia which, according to the company website, is also one of the largest projects in the world.
Already holding high grade projects New South Wales, Silver Mines has also recently acquired the Bowden Silver Project.
In 2018, Silver Mines completed a feasibility study into Bowden and established that it had an estimated 16 years of life in the mine. It predicted that for the first three years of production, the mine would produce 5.4 million ounces of silver per year.
While Bowden might be its most exciting project coming up, Silver Mines also runs the following projects:
The Silver Mines share price hit an all time low in October 2018. Since then, the price has risen a staggering 1,000%, from around 2.5 cents to almost 30 cents.
Although this may seem like a huge return (and it is), the Silver Mines share price in the past has reached lofty heights of more than $20. While there is no real way to know whether previous highs are attainable again, this gives me more confidence buying at the current price, even after the recent rally.
Silver is currently trading around USD $28 per ounce. If we look back to 2012, the commodity back then almost reached USD $50 per ounce, so it may have a lot more room to move today.
We have seen gold reaching new highs recently, making a strong case that silver could do the same. And rising prices mean more profit for producers.
Silver is widely used in our society. When most people think of the precious metal, they think of jewellery, coins and bullion. But silver has a huge number of commercial uses as well. It is used in the solar industry, electronics, bearings, in the automobile industry, medicine and even water purification – to name a few.
According to the World Silver Survey 2020, total supply is predicted to fall this year by 4%. Demand is also predicted to fall by 3%, however this is still a net positive for the metal.
The market is due to see a surplus in supply again this year, but the surplus looks to be more than 50% less than 2019. Again, this may be a surplus, but it is less of a surplus than previous surveys.
The report goes on to say that the global silver mine production is set to fall by 4.6% in 2020. A large part of the problem is due to COVID-19 and its impact on mining operations. Interestingly, the survey also states that it expects silver to outperform gold in 2020.
Although there are many silver producers, Silver Mines is the largest project owner here in Australia. With the encouraging findings of the World Silver Survey, and Silver Mines developing their large new project at Bowden, the future looks positive for both the company and the Silver Mines share price.
When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*
In this FREE STOCK REPORT, Scott just revealed what he believes are the 3 ASX stocks for the post COVID world that investors should buy right now while they still can. These stocks are trading at dirt-cheap prices and Scott thinks these could really go gangbusters as we move into ‘the new normal’.
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Motley Fool contributor glennleese has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. 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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I firmly believe that if you want to grow your wealth, you need to think long term.
This is because the longer you spend in the market, the longer you have to take advantage of compounding.
Compounding is the interest you earn on interest and explains why $10,000 generating a return of 10% per annum will turn into $26,000 in 10 years.
But which shares would be great buy and hold options? Here are two that I would buy:
I think this payments company could be a great buy and hold option for investors. Once again, in FY 2020 Afterpay has smashed the market’s expectations with incredible sales and customer growth. This has been driven by the increasing popularity of its buy now pay later platform with both consumers and retailers.
Adoption of its platform has been particularly strong with younger demographics, which are turning away from credit cards in their droves and looking for better ways to budget. Particularly during the pandemic as more spending shifts online. I expect this trend to continue for the foreseeable future and drive strong customer growth. This should also be boosted by further geographic expansion in the coming years.
Another top option for investors to consider as a buy and hold investment is Xero. It is one of the world’s leading cloud-based business and accounting software providers and, like Afterpay, has delivered impressive growth in recent years.
In May Xero reported its FY 2020 results and revealed further strong growth in sales and operating earnings. This was driven by stellar customer growth, prices increases, and its sky high retention rate. I believe the latter demonstrates both the quality and stickiness of its platform. Another positive is its modest market share in North America. At the end of the financial year, Xero had just 241,000 subscribers in the key market. This compares to 914,000 subscribers in a materially smaller ANZ market. I feel this gives it a very long runway for growth.
When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*
In this FREE STOCK REPORT, Scott just revealed what he believes are the 3 ASX stocks for the post COVID world that investors should buy right now while they still can. These stocks are trading at dirt-cheap prices and Scott thinks these could really go gangbusters as we move into ‘the new normal’.
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James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Xero. The Motley Fool Australia owns shares of AFTERPAY T FPO. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. 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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The Mesoblast limited (ASX: MSB) share price has been the worst performer on the S&P/ASX 200 Index (ASX: XJO) by some distance on Tuesday.
In afternoon trade the biotechnology company’s shares are down 26% to $3.62.
At one stage, the Mesoblast share price was down as much as 29% to $3.46.
Investors have been hitting the sell button in a panic on Tuesday after the U.S. Food and Drug Administration (FDA) released a briefing document ahead of Mesoblast’s meeting with the Oncologic Drugs Advisory Committee (ODAC) on Thursday evening.
This meeting is in relation to its remestemcel-L product candidate as a treatment for paediatric steroid-resistance acute graft versus host disease (paediatric SR-aGvHD).
The ODAC is a key player in the regulation of cancer drugs and plays a big role in whether a drug gets approval or not.
Unfortunately for Mesoblast, the FDA’s briefing document appears to have cast doubts on whether or not it will receive approval from the regulator.
According to the briefing, the FDA has concerns about the clinical performance of the drug product (DP).
It stated: “[The] FDA’s position is that the product attributes the Applicant has identified as related to potency and activity, however, do not have a demonstrated relationship to the clinical performance of specific DP lots, and that the product’s proposed immunomodulatory mechanism of action has not been demonstrated in vivo in study subjects receiving remestemcel-L.”
“Without a demonstrated relationship with clinical effectiveness and/or in vivo potency/activity, controlling these CQAs [critical quality attributes] may not be sufficient to ensure the manufacturing process consistently produces remestemcel-L lots of acceptable quality,” it added.
Before adding: “We ask the committee to consider the product attributes identified by the Applicant as CQAs and discuss whether they are adequate to ensure that the manufacturing process will continue to produce lots of consistent quality.”
The FDA also wants the committee to “discuss other product characteristics not previously identified as CQAs for remestemcel-L that might provide more meaningful measures of product quality and potency and therefore provide better assurance of product quality from lot-to-lot.”
Mesoblast is due to meet with the committee overnight on Thursday, which may mean an update is available Friday morning in Australia. Shareholders will no doubt be waiting nervously until then.
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In this FREE STOCK REPORT, Scott just revealed what he believes are the 3 ASX stocks for the post COVID world that investors should buy right now while they still can. These stocks are trading at dirt-cheap prices and Scott thinks these could really go gangbusters as we move into ‘the new normal’.
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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. 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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