Mesoblast Ltd Bullish stance at the back of improving sentiments
Bullish stance at the back of improving sentiments: Mesoblast Ltd (ASX: MSB) stock rallied over 12.74% on March 21, 2017 given the improving sentiments on the stock. Recently, the group reported a 36-month results from the randomized, placebo-controlled 100- patient Phase 2 trial of its proprietary allogeneic Mesenchymal Precursor Cells (MPCs) in patients with chronic low back pain (CLBP) due to intervertebral disc degeneration. A single intra-discal injection of 6 million MPCs led to decent improvements in both pain and function that were durable for at least 36 months. The group believes that these developments have the potential to transform the treatment paradigm for chronic low back pain due to disc degeneration. Management also says that rather than replacing or fusing the disc, there is mounting compelling evidence that they can use this regenerative medicine to heal the disc. The group believes that they are nearing this inflection point in the treatment of low back pain, which is particularly important in view of the epidemic of opioid abuse.
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