Mesoblast Operational Highlights and Financial Results for the Fourth Quarter and for the Year Ended 30 June 2017
Mesoblast Limited - American Depositary Shares (MESO)
US:NASDAQ Investor Relations:
investorsmedia.mesoblast.com
Company Research
Source: GlobeNewswire
NEW YORK and MELBOURNE, Australia, Aug. 29, 2017 (GLOBE NEWSWIRE) -- Mesoblast Limited (Nasdaq:MESO) (ASX:MSB) today reported its consolidated financial results and operational highlights for the three months ended June 30, 2017 (fourth quarter of 2017) and year ended June 30, 2017 (FY2017). The Company has just completed an oversubscribed institutional entitlement offer for a fully underwritten capital raise of approximately A$50.7 million (US$40.0 million). At June 30, 2017, the Company had cash reserves of US$45.8 million, and US$84.0 million on a pro-forma basis after adjusting for total net proceeds from the entitlement offer. In FY2017, cost savings of US$20.7 million (28%) were delivered in comparison with the prior financial year. These savings enabled the Company to substantially offset the incremental costs of its Phase 3 clinical program in advanced chronic heart failure (CHF). Mesoblast’s cash reserves will be used to achieve significant outcomes in FY18 for the Pha
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