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CORRECTED-Australia's Mesoblast flags "going concern" doubts
May 25, 2017 / 5:58 AM / 7 months ago

CORRECTED-Australia's Mesoblast flags "going concern" doubts

(Corrects cash reserve figure to $69.1 mln, not $69,122)

May 25 (Reuters) - Australian regenerative medicine maker Mesoblast Ltd said on Thursday it needed new funding from a third party partner or from capital raising to continue in business as it had cash reserves of $69.1 million.

“There is a material uncertainty that may cast significant doubt on the group’s ability to continue as a going concern,” it said in a filing to the U.S. Stock Exchange.

Shares in Mesoblast were down 4.8 percent in late afternoon trade.

Reporting by Sandhya Sampath. Editing by Jane Wardell and Edwina Gibbs

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