Mesoblast Limited Q1 FY2026 Quarterly Report

Mesoblast Limited reported a significant increase in Ryoncil® net revenues, which rose by 69% in the second quarter post-launch. The company's revenue from cell therapy products reached US$20.6 million for the quarter ended September 30, 2025, up from US$12.9 million in the previous quarter. Mesoblast also highlighted the assignment of a permanent J-Code by the Centers for Medicare and Medicaid Services (CMS) for Ryoncil®, which became active on October 1, 2025, facilitating easier billing and reimbursement. The company has onboarded 40 transplant centers since the product launch and continues to expand coverage with over 260 million US lives insured by commercial and government payers. Mesoblast also entered into convertible note subscription agreements to issue up to US$50.0 million of unsecured convertible notes, subject to shareholder approval. The company ended the quarter with US$145 million in cash on hand.