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Mesoblast trading halt to stay in place until June 10, bad news expected

Jun. 03, 2016 11:00 AM ETMesoblast Limited (MESO) StockTEVA, OSIR, MESOBy: Douglas W. House, SA News Editor9 Comments
  • The trading halt in Mesoblast (NASDAQ:MESO) ADSs, instituted June 1, will remain in effect until June 10, at the company's request. Based on experience, this type of scenario almost always portends negative news.
  • Analysts speculate that Teva Pharmaceutical Industries (TEVA -2.3%) could pull out of its collaboration with the company since it lies outside of its core business or the news could relate to an accounting issue, FDA warning or safety matter. In a tweet, TheStreet's Adam Feuerstein speculated that the news could be related to a criminal probe of Osiris Therapeutics (OSIR -1.9%), whose culture-expanded mesenchymal stem cell business Mesoblast acquired in 2013.
  • Investors began heading for the exits more than two months before June 1. Shares had slumped 35% from the high of $10.89 on March 17 when halted.

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