Here's Why Mesoblast Stock Rose Over 18% Today

Shares of Mesoblast (NASDAQ: MESO) rose as much as 18.1% today after the company announced its experimental stem cell treatment, remestemcel-L, will be available under an expanded-access protocol for children with COVID-19 in the United States.

More specifically, the company filed the protocol with the Food and Drug Administration to treat individuals between the ages of two months and 17 years old suffering from multisystem inflammatory syndrome (MIS-C). It could signify a major step in the availability of the drug candidate to treat severe cases of COVID-19 that don't require mechanical ventilator support, which doctors are increasingly avoiding.

At the close on Monday, the small-cap stock had settled to a 9.1% gain.

Source Fool.com