Mesoblast reports FY2026 revenue of $120.3 million, driven by Ryoncil launch
The company said gross profit reached $103.6 million as reported, or $109.7 million excluding amortization, while completing patient treatment in its Phase 3 back pain trial.
Mesoblast Limited reported financial results for the fiscal year ended June 30, 2026, on August 26 and 27, 2026. Total revenue reached US$120.3 million, up from US$17.2 million in the prior year period.1 The company's U.S. commercial launch of Ryoncil (remestemcel-L-rknd) generated net revenue of US$115.2 million after a gross to net adjustment of 13.4%.1
Reported gross profit was US$103.6 million.1 Separately, gross profit excluding amortization was US$109.7 million versus US$16.0 million in the prior year period.1
Reported net loss for the period was reduced by 44%, or US$44.6 million, to US$57.5 million compared to US$102.1 million in the prior year period, with net loss in the second half at US$17.3 million, a 68% reduction on the prior comparative period.1 The company ended the period with a cash balance of US$103 million and had entered into a US$125.0 million five-year non-dilutive credit-line facility, consolidating and retiring two higher cost facilities.1
On the pipeline side, Mesoblast completed 350 patients treated in its pivotal randomized controlled Phase 3 trial of rexlemestrocel-L for chronic low back pain associated with inflammatory degenerative disc disease.1 Top-line results are expected in mid-CY2027 after the last treated patient completes 12 months of follow-up.1
The company also received a Biologics License Application filing number from FDA and requested a modular review of its BLA for rexlemestrocel-L in prevention of life-threatening gastrointestinal bleeding due to right ventricular dysfunction in end-stage heart failure patients with a left ventricular assist device.1
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