Edison Investment Research, a leading international investment research firm, announces the initiation of coverage of Mesoblast (MSB: ASX), an Australian-headquartered biotechnology company focused on adult stem therapies.
Mesoblast's pipeline is based on its proprietary mesenchymal precursor cell (MPC) and culture-expanded mesenchymal stem cell (MSC) technologies. Edison's report, Precursor to success, discusses Mesoblast's two technology platforms (MPCs and MSCs) that have to date generated nine clinical candidates (four in Phase III, five in Phase II). The report goes on to analyse the three strategic partnerships with Teva, JCR and Lonza, which underpin the key late-stage programmes including Revascor that could provide US$4bn potential peak sales.
Edison's healthcare team value Mesoblast at A$2.6bn (A$8.07/share) based on a risk-adjusted net present value (rNPV) analysis, which could rise to A$3.2bn (A$10.00/share) if upcoming catalysts are positive.
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