Stock Track | Mesoblast Soars 16.93% as Key Drug Ryoncil Receives US Medicare Billing Approval

Stock Track

Oct 03, 2025

Mesoblast Ltd (MSB.AU) shares surged 16.93% in intraday trading, reaching A$2.970, their highest level since February 13. The biotech firm's stock price jump comes on the heels of a significant milestone for its key drug, Ryoncil, which has received a U.S. Medicare J-code, facilitating reimbursement and broader patient access.

The Medicare J-code approval marks a crucial development for Mesoblast, as it streamlines billing and payment processes for Ryoncil. This recognition is expected to enhance the drug's accessibility and potentially boost its market penetration, contributing to the company's financial outlook.

Ryoncil is used to treat steroid-refractory acute graft versus host disease, a condition that can occur after blood cell transplant, in pediatric patients. The stock's impressive performance has pushed its weekly gains to 17.3%, setting it on track for its strongest week since July 14. Mesoblast has emerged as the second-best performer on the ASX200 benchmark, which remained flat during the same trading session.

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