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Why are Mesoblast shares in a trading halt?

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The biotech company requested a trading halt before the market open on Friday. Here's why. The post Why are Mesoblast shares in a trading halt? appeared first on The Motley Fool Australia.
Mesoblast Limited, an Australian biotech company, has placed its shares in a trading halt pending an announcement regarding the potential approval of its cell therapy, remestemcel-L, by the U.S. Food and Drug Administration (FDA). This therapy is aimed at treating children with steroid-refractory acute graft versus host disease (SR-aGVHD), a severe condition that can occur after a bone marrow transplant. The FDA's decision, expected by August 2, 2023, could significantly impact Mesoblast's future, as the company has been working on this treatment for over a decade. The trading halt was initiated to manage market speculation and ensure an orderly market while awaiting the FDA's decision.

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