Mesoblast generates impressive gains over Christmas
Regenerative medicine company, Mesoblast (ASX:MSB) has seen its share price jump by over 25 per cent since Christmas, reflecting optimism in the market about the potential of its technology to treat a variety of diseases.
Mesoblast specialises in the employment of mesenchymal precursor cells (MPC), which are a form of adult stem cell, to treat bone and joint diseases as well as diabetes. The three primary applications of the MPC technology are in bone repair, cartilage repair and disc regrowth.
Mesoblast also holds a 39.2 per cent stake in Angioblast Systems, which is using the MPC technology to target cardiovascular disease.
A recent preclinical trial also demonstrated that MPCs can increase the levels of blood insulin in mice with type 1 diabetes. The company has announced it plans to move to clinical trials to investigate the potential to treat this widespread disease.
Mesoblast is currently trading at $1.76, up from $1.40 around Christmas time, buoyed by market confidence in the company and recommendations to buy from a number of research firms, including a speculative buy and a 12 month target price of $3.00 from Southern Cross Equities.
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