Melbourne-headquartered medical-techie company Mesoblast Ltd (ASX:MSB) rallied up after the company declared that the trial of Covid-19 treatment would continue.
The MSB stock had witnessed a downward trend after the reports of US pharmaceutical company Pfizer successfully brought a Covid-19 vaccine candidate into force.
There are reports that a drug remestemcel-L is being developed by Mesoblast for patients with moderate to severe acute respiratory distress syndrome (ARDS), a common complication in the most severe Covid-19 infections. This might have triggered the MSB’s bounce back.
Meanwhile, the MSB stock closed at $3.280, up ~4.8% with a market capitalisation of $1.83 billion.