Mesoblast Limited Securities Litigation

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Lawsuit Overview

Defendant:Mesoblast Limited
Date Filed:October 8th, 2020
Sector:Health Care
Industry:Biotechnology: Biological Products (No Diagnostic Substances)
Class Start Date:April 16th, 2019
Class End Date:October 1st, 2020

According to the Complaint, Mesoblast Limited develops allogeneic cellular medicines using its proprietary mesenchymal lineage cell therapy platform. Its lead product candidate, RYONCIL (remestemcelL), is an investigational therapy comprising mesenchymal stem cells derived from bone marrow.

The Complaint alleges that that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, the Complaint alleges Defendants failed to disclose to investors: (1) that comparative analyses between Mesoblast's Phase 3 trial and three historical studies did not support the effectiveness of remestemcel-L for steroid refractory aGVHD due to design differences between the four studies; (2) that, as a result, the FDA was reasonably likely to require further clinical studies; (3) that, as a result, the commercialization of remestemcel-L in the U.S. was likely to be delayed; and (4) that, as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

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First Identified Complaint

Irene Kristal, et al. v. Mesoblast Limited, et al.

Date Filed:October 8th, 2020
Class Period Start:April 16th, 2019
Class Period End:October 1st, 2020
First Identified Complaint Filings
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