The Law Offices of Frank R. Cruz continues its investigation of Mesoblast Limited (“Mesoblast” or the “Company”) (NASDAQ: MESO) on behalf of investors concerning the Company’s possible violations of federal securities laws.
If you are a shareholder who suffered a loss, click here to participate.
On October 1, 2020, the Company disclosed that it had received a Complete Response Letter (“CRL”) from the U.S. Food and Drug Administration (“FDA”) regarding its marketing application for remestemcel-L for treatment of SR-aGVHD in pediatric patients. According to the CRL, the FDA recommended that Mesoblast “conduct at least one additional randomized, controlled study in adults and/or children to provide further evidence of the effectiveness of remestemcel-L for SR-aGVHD.” The CRL also “identified a need for further scientific rationale to demonstrate the relationship of potency measurements to the product’s biologic activity.”
On this news, Mesoblast’s stock fell $6.53, or 35%, to close at $12.03 per share on October 2, 2020.
Follow us for updates on Twitter: twitter.com/FRC_LAW.
If you purchased Mesoblast securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to [email protected], or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
View source version on businesswire.com: https://www.businesswire.com/news/home/20201006005488/en/
The Law Offices of Frank R. Cruz, Los Angeles
Frank R. Cruz, 310-914-5007