Stock Alert: Mesoblast Jumps 40%

(RTTNews) - Shares of Mesoblast Ltd. (MESO) are surging nearly 40% after the company announced positive results of Rexlemestrocel in late-stage trial results.

MESO is currently trading at $11.89, up $3.23 or 37.29%, on the Nasdaq.

Mesoblas announced additional results from a phase 3 trial in 537 treated patients with chronic heart failure with reduced left ventricular ejection fraction who received rexlemestrocel-L or control sham.

A single dose of rexlemestrocel-L resulted in substantial and durable reductions in heart attacks, strokes, and cardiac deaths.

The incidence of heart attacks and strokes were reduced by 60% over a median follow-up period of 30 months following a single dose of rexlemestrocel-L in the population of 537 patients.