Mesoblast Limited (ASX: MSB) shares dropped 3% on Friday after announcing news relating to COVID-19 patients.
COVID-19 news
Mesoblast announced that the independent Data Safety Monitoring Board (DSMB) recommended continuation of the phase 3 trial of remestemcel-L in patients with moderate to severe acute respiratory distress syndrome (ARDS) due to a COVID-19 infection, after completion of the trial’s first interim analysis.
The analysis was performed on the first 30% of the total target of randomised patients, with the DSMB reviewing the trial’s primary endpoint, mortality within 30 days of randomisation and all safety data.
Mesoblast chief medical officer Dr Fred Grossman said: “We are very pleased with the recommendation by the DSMB. This important trial seeks to confirm whether remestemcel-L improves survival in ventilated COVID-19 patients with moderate to severe ARDS, where death rates remain high despite best existing treatments.”
The trial is expected to complete recruitment during the fourth quarter of the 2020 calendar year.
Summary
No bad news is good news, I suppose. Mesoblast is one of those biotechs that could produce good returns if things go well, and do poorly if the process doesn’t go well. It’s not the type of investing I like to make, though I can appreciate that Mesoblast could make good returns. If I had to go for a biotech business I’d rather go for CSL Limited (ASX: CSL). However, other ASX growth shares attract me more like Pushpay Holdings Ltd (ASX: PPH).
