Shared in Mesoblast dropped on the last day of August 2021 after the Melbourne-based biotech was told that the company’s investigational respiratory treatment for Covid-19 needed to undergo another trial in order to receive emergency use authorization (EUA) from U.S. Food and Drug Administration.

Mesenchymal stem cells derived from umbilical cord tissue could help treat ARDS in Covid-19 patients, according to results of a Phase I/IIa clinical trial published by University of Miami researchers.

Novartis inked an exclusive worldwide license and collaboration deal with Australia-based Mesoblast to develop, commercialize and manufacture remestemcel-L for acute respiratory distress syndrome (ARDS), including when it is linked to Covid-19.

Omeros Corp.’s experimental treatment helped six patients with acute respiratory distress syndrome caused by Covid-19 recover and get discharged from the hospital, sending the drug developer’s shares up 60%.