Mesoblast Ltd.'s (MESO) American depository shares surged in premarket trading on Thursday, June 21, after the Australian company unveiled data from a clinical trial for a potential treatment for children with steroid refractory acute Graft Versus Host Disease, or aGVHD.
GVHD is a complication that can arise following certain stem cell or bone marrow transplants.
The Melbourne company's ADRs were trading at $6.50, up 17.3%.
The Phase 3 study evaluating a stem cell product candidate, remestemcel-L, enrolled 55 children aged between two months and 17 years in the U.S. Top-line day 100 results showed an 87% survival rate for day 28 responders to treatment and an overall survival rate of 75%, Mesoblast said.
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