Mesoblast Shares Rise As Remestemcel-L Cuts Mortality In Patients Below 65 Years With COVID-19 Related Respiratory Distress

Mesoblast Limited MESO has announced 60-day results from the randomized controlled trial of remestemcel-L in COVID-19 patients with moderate/severe acute respiratory distress syndrome (ARDS), which had been halted after the third interim analysis, as previously announced.
The trial enrolled 222 mechanically ventilated COVID-19 patients.
Remestemcel-L reduced mortality by 46% through day 60 in the pre-specified population of 123 treated patients under age 65, 26% vs. 42%, Hazard Ratio (HR) 0.54.
The treatment has similar effects on mortality in these patients with either moderate ARDS (HR 0.56) or severe ARDS (HR 0.56).
The standard of care changed during the course of the trial to incorporate dexamethasone.
Remestemcel-L reduced mortality through day 60 by 75% compared to controls in patients under 65 who received dexamethasone as part of their standard of care, 14% vs. 45%, HR 0.25.
Remestemcel-L increased days alive off the ventilator within 60 days and reduced time to discharge from initial hospitalization compared to controls in patients under 65 who received dexamethasone.
Mesoblast entered into a license and collaboration agreement with Novartis AG NVS for the development, manufacture, and commercialization of remestemcel-L, with an initial focus on treating ARDS, including that associated with COVID-19.
The company will hold a webcast at 9 A.M ET today.
Price Action: MESO shares are up 5.1% at $7.59 in the premarket on the last check Friday.