Mesoblast reports Ryoncil revenue surge and improved cash spend

Mesoblast's Q1 update shows Ryoncil revenue up 44% to US$28m and operating cash burn cut 85% to US$2.3m, with US$99m cash at 30 September 2026. The improvements reflect wider adoption across 54 sites and tighter capital discipline, easing near-term funding risk for the ASX-listed biotech. Impact is company-specific, with little read-through to broader indices or sector sentiment.