Mesoblast Limited (ASX: MSB) today announced full year financial results for the 12 months ended 30 June 2018. Revenue increased by US$14.8 million to US$17.3 million benefitting from commercialization revenue on sales of TEMCELL and payments received from Takeda in FY18.
Loss after tax has narrowed down from US$76.8 million in previous year to US$35.3 million in fiscal 2018. There has been substantial reduction in operating net cash outflow by 21% to US$75 million on the back of increased revenue and less spend on manufacturing for R&D. [optin-monster-shortcode id=”wxhmli4jjedneglg1trq”]
In a strategic financing facility, Mesoblast is expected to receive additional US$50.0 million under existing agreements with Hercules Capital and NovaQuest. The company has neither paid nor anticipates paying any dividend.
Mesoblast’s stock edged up 4.823% to $1.630 on 30 August 2018 (7:24 PM AEST).
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