10 Best ASX Stocks to Buy According to Hedge Funds

7. Mesoblast Limited (NASDAQ:MESO)

Number of Hedge Fund Holdings: 3

Mesoblast Limited (NASDAQ:MESO) is an Australian biopharmaceutical company focused on developing allogeneic cellular medicines for inflammatory diseases. The company’s proprietary mesenchymal lineage cell therapy technology targets conditions such as chronic heart failure, chronic low back pain, and acute graft versus host disease. Mesoblast Limited (NASDAQ:MESO) collaborates with healthcare providers and research institutions to conduct clinical trials and bring their therapies to patients in need.

Mesoblast Limited’s (NASDAQ:MESO) flagship product, Remestemcel-L (Ryoncil), recently secured FDA approval for the treatment of steroid-refractory acute graft-versus-host disease (SR-aGVHD) in patients as young as two months old. With this FDA approval, Mesoblast Limited (NASDAQ:MESO) is entering a pivotal phase of commercialization. The company has been actively preparing for the product launch by building a specialized commercial team, engaging with key opinion leaders in the medical field, and forging partnerships with bone marrow transplant centers. These efforts are designed to facilitate a swift and effective market entry.

In addition to its initial approval, Mesoblast Limited (NASDAQ:MESO) is actively exploring further therapeutic applications for Remestemcel-L. A phase 3 study in adult patients with SR-aGVHD is set to commence shortly following the pediatric approval. Moreover, the company is evaluating Remestemcel-L’s potential for treating inflammatory bowel disease (IBD), a widespread condition affecting millions globally.