• Achieved patient recruitment target in pivotal phase 3 trial for chronic low back pain
• Held inaugural R&D day, showcasing label extension strategy and commercial strategies
• Acquired exclusive worldwide license to patented CAR technology platform for precision-enhanced cell therapy products

Mesoblast Limited, a global leader in allogeneic cellular medicines for inflammatory diseases, provided highlights of its recent activities for the third fiscal quarter ended March 31, 2026. Key financial highlights include Ryoncil® gross sales of US$35.3 million and net revenues of US$30.3 million, with revenue generated during the first year of Ryoncil® launch approaching US$100 million. The company also reported a reduction in net operating cash spend to US$4.1 million, driven by receipts of US$34.6 million and tight control of operating expenses. Operationally, Mesoblast achieved the patient recruitment target in its pivotal phase 3 trial of second-generation product rexlemestrocel-L for chronic low back pain (CLBP). The company held an inaugural R&D day, where it highlighted its label extension strategy for Ryoncil® in adult and pediatric rare diseases, provided updates on near- and mid-term blockbuster opportunities in inflammatory back pain and heart failure, showcased leadership in allogeneic cell therapy innovation, and outlined commercial strategies for continued revenue growth. Additionally, Mesoblast unveiled next-generation mesenchymal stromal cell (MSC) strategies, including the acquisition of an exclusive worldwide license to a patented chimeric antigen receptor (CAR) technology platform for precision-enhanced augmentation of therapeutic MSC products.

Mesoblast reported Ryoncil® net revenues of US$30.3 million for the quarter ended March 31, 2026.