TEMCELL HS Inj.2 Royalties Reach US$1.8 Million in Q3, Growing 4%

Mesoblast (ASX: MSB), a leading developer of off-the-shelf cellular medicines for severe inflammatory conditions, has reported its financial results for the third quarter of fiscal year 2023, ending on March 31.

• The company disclosed cash reserves of US$48.8 million at the end of the quarter, with pro-forma cash totaling US$88.8 million after adjusting for the US$40.0 million raised in April.
• Subject to specific milestones, there is the potential to access an additional US$40.0 million from current financing facilities.
• In comparison to the previous year, there was a 4% rise in net cash utilization for operating activities during the third quarter.
• In the third quarter, revenue generated from royalties on sales of TEMCELL HS Inj.2 in Japan amounted to US$1.8 million, showing a 4% growth when adjusted for constant currency.
• During the third quarter, revenue from royalties on the sales of TEMCELL HS Inj.2 in Japan amounted to US$1.8 million, demonstrating a 4% growth when considering constant currency.
• Additionally, gains of US$1.3 million were recognized from the revaluation of contingent consideration, while a loss of US$0.5 million was recorded.
• Other operating income included R&D tax incentive income of US$3.1 million.

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