Mesoblast (NASDAQ:MESO) reported financial results for the first half of fiscal year 2026 on Friday, highlighting a decisive transition from a clinical-stage biotechnology firm to a commercial-scale operator.
The company posted total revenue of $51.3 million, a result underpinned by the rapid market penetration of its flagship cell therapy, Ryoncil (remestemcel-L), following its U.S. launch for pediatric steroid-refractory acute graft-versus-host disease (SR-aGvHD).
The commercial rollout generated gross sales of $57 million, which translated to $48.7 million in revenue after gross-to-net adjustments.
This surge in top-line performance contributed to an improved net loss of $40.2 million, down from $47.9 million in the prior year period.
Mesoblast finished the half-year with $130 million in cash and bolstered its liquidity position by securing a $125 million five-year credit facility, providing a non-dilutive runway to support its expanding pipeline.
Operational milestones during the period have solidified the product’s commercial foundation.
Mesoblast has successfully onboarded 49 transplant centers, moving closer to its initial target of 64.