Recent News
On December 29, 2025 the company announced repayment of senior secured debt and a drawdown of $75 million from a new five-year credit facility provided by a major shareholder, with an option to draw an additional $50 million through June 30, 2026. On December 11, 2025 an independent study presented at the ASH annual meeting reported remestemcel-L produced superior complete and overall remission outcomes versus ruxolitinib in steroid-refractory acute graft-versus-host disease. The annual general meeting on November 25, 2025 saw all resolutions passed, including approval of convertible notes and warrants. Analyst average one-year price target rose in late December 2025 to about $20.25.
Technical Analysis
ADX and Directional Indicators: ADX at 14.35 indicates no established trend; directional indicators, however, point bearish: DI+ peaked and reversed at 32.83, and DI- dipped then reversed to 27.75, signaling recent shift toward selling pressure that lacks strong trend strength.
MACD: MACD sits below its signal line (MACD 0.00 versus signal 0.10) with a peak-and-reversal pattern, indicating bearish momentum and limited upside conviction for price acceleration.
MRO: MRO reads 19.34 and trends downward, showing price sits above the value-based target and implying a higher probability of mean reversion toward fair value in the near term.
RSI: RSI at 51.64 with a peak-and-reversal behavior signals waning bullish momentum while not yet entering oversold territory, consistent with range-bound trading.
Price vs Moving Averages and EMAs: Last close $17.25 remains above the 200-day average of $14.95 (about 15.4% higher) but below the 20-day average of $18.02 and the 50-day average of $17.94, aligning with consolidation between longer-term bullish bias and short-term pressure; 12- and 26-day EMAs sit above price and show peak-and-reversal characteristics, reinforcing short-term bearish momentum.
Bollinger Bands & Ichimoku: Price trades essentially at the 1x lower Bollinger band ($17.24) and inside the Ichimoku cloud (Senkou A $17.33, Senkou B $17.14), pointing to compressed volatility and consolidation around current levels with nearby support at the super-trend lower $17.19.
Volatility, Beta, Volume: 42-day beta of 2.02 and 52-week beta 1.55 indicate elevated sensitivity to market moves; recent volume 242,240 sits above the 10-, 50- and 200-day averages, suggesting episodes of above-normal participation without confirmed directional follow-through.
Fundamental Analysis
Cash Flow and Liquidity: Beginning cash flow $161,551,000 declined to $144,719,000 by period end, a cash flow delta of $-16,832,000; free cash flow registered $-15,255,000. Capital expenditures remained limited at $-349,000 while operating cash flow reported $0, and invested capital stands at $-33,001,000, reflecting ongoing negative invested-capital accounting balances.
Growth Metrics: Revenue growth measures 20.50% while reported revenue QoQ and YoY growth fields show 0.00% for the stated intervals; forward EPS of $0.0425 contrasts with a forward price-to-earnings of -106.84x, reflecting a negative forward earnings multiple driven by low positive EPS against current price and timing of earnings recognition.
Cash-Flow Growth Trends: Free cash flow growth reads -10.87% overall, with QoQ movement of -132.32% and YoY movement of -569.66% as reported, indicating elevated variability and material declines in free cash generation over the referenced periods.
Peer Comparisons Where Available: Forward P/E sits below the industry peer mean of 6.76332 and below the industry peer median of -1.13199, while remaining above the industry peer low of -112.82 and below the industry peer high of 67.78835. Free cash flow growth at -10.87% sits below the industry peer mean of 25.29% and below the industry peer median of 22.88% but above the industry peer low of -200.95% within the provided peer range.
Valuation: The current valuation as determined by WMDST classifies the stock as under-valued. That valuation reflects revenue growth of 20.50% juxtaposed with negative free cash flow and a negative forward P/E, implying valuation depends substantially on successful commercialization and improved cash generation trajectories.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2025-09-30 |
| REPORT DATE: | 2025-10-28 |
| NEXT REPORT DATE: | 2026-01-27 |
| CASH FLOW | Begin Period Cash Flow | $ 161.6 M |
| Operating Cash Flow | $ 0.00 | |
| Capital Expenditures | $ -349.00 K | |
| Change In Working Capital | — | |
| Dividends Paid | — | |
| Cash Flow Delta | $ -16.83 M | |
| End Period Cash Flow | $ 144.7 M | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | — | |
| Forward Revenue | — | |
| COSTS | ||
| Cost Of Revenue | — | |
| Depreciation | — | |
| Depreciation and Amortization | — | |
| Research and Development | — | |
| Total Operating Expenses | — | |
| PROFITABILITY | ||
| Gross Profit | — | |
| EBITDA | — | |
| EBIT | — | |
| Operating Income | — | |
| Interest Income | — | |
| Interest Expense | — | |
| Net Interest Income | — | |
| Income Before Tax | — | |
| Tax Provision | — | |
| Tax Rate | — | |
| Net Income | — | |
| Net Income From Continuing Operations | — | |
| EARNINGS | ||
| EPS Estimate | — | |
| EPS Actual | — | |
| EPS Difference | — | |
| EPS Surprise | — | |
| Forward EPS | $ 0.04 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | — | |
| Intangible Assets | — | |
| Net Tangible Assets | — | |
| Total Current Assets | — | |
| Cash and Short-Term Investments | — | |
| Cash | — | |
| Net Receivables | — | |
| Inventory | — | |
| Long-Term Investments | — | |
| LIABILITIES | ||
| Accounts Payable | — | |
| Short-Term Debt | — | |
| Total Current Liabilities | — | |
| Net Debt | — | |
| Total Debt | — | |
| Total Liabilities | — | |
| EQUITY | ||
| Total Equity | — | |
| Retained Earnings | — | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | — | |
| Shares Outstanding | — | |
| Revenue Per-Share | — | |
| VALUATION | Market Capitalization | — |
| Enterprise Value | — | |
| Enterprise Multiple | — | |
| Enterprise Multiple QoQ | — | |
| Enterprise Multiple YoY | — | |
| Enterprise Multiple IPRWA | — | |
| EV/R | — | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | — | |
| Asset To Liability | — | |
| Debt To Capital | — | |
| Debt To Assets | — | |
| Debt To Assets QoQ | — | |
| Debt To Assets YoY | — | |
| Debt To Assets IPRWA | — | |
| Debt To Equity | — | |
| Debt To Equity QoQ | — | |
| Debt To Equity YoY | — | |
| Debt To Equity IPRWA | — | |
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | — | |
| Price To Book QoQ | — | |
| Price To Book YoY | — | |
| Price To Book IPRWA | — | |
| Price To Earnings (P/E) | — | |
| Price To Earnings QoQ | — | |
| Price To Earnings YoY | — | |
| Price To Earnings IPRWA | — | |
| PE/G Ratio | — | |
| Price To Sales (P/S) | — | |
| Price To Sales QoQ | — | |
| Price To Sales YoY | — | |
| Price To Sales IPRWA | — | |
| FORWARD MULTIPLES | ||
| Forward P/E | -106.842 | |
| Forward PE/G | — | |
| Forward P/S | — | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | — | |
| ASSET & SALES | ||
| Asset Turnover Ratio | — | |
| Asset Turnover Ratio QoQ | — | |
| Asset Turnover Ratio YoY | — | |
| Asset Turnover Ratio IPRWA | — | |
| Receivables Turnover | — | |
| Receivables Turnover Ratio QoQ | — | |
| Receivables Turnover Ratio YoY | — | |
| Receivables Turnover Ratio IPRWA | — | |
| Inventory Turnover | — | |
| Inventory Turnover Ratio QoQ | — | |
| Inventory Turnover Ratio YoY | — | |
| Inventory Turnover Ratio IPRWA | — | |
| Days Sales Outstanding (DSO) | — | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | — | |
| Cash Conversion Cycle Days QoQ | — | |
| Cash Conversion Cycle Days YoY | — | |
| Cash Conversion Cycle Days IPRWA | — | |
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | — | |
| CapEx To Revenue | — | |
| CapEx To Depreciation | — | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | — | |
| Net Invested Capital | — | |
| Invested Capital | $ -33.00 M | |
| Net Tangible Assets | — | |
| Net Working Capital | — | |
| LIQUIDITY | ||
| Cash Ratio | — | |
| Current Ratio | — | |
| Current Ratio QoQ | — | |
| Current Ratio YoY | — | |
| Current Ratio IPRWA | — | |
| Quick Ratio | — | |
| Quick Ratio QoQ | — | |
| Quick Ratio YoY | — | |
| Quick Ratio IPRWA | — | |
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | — | |
| Cost Of Debt | 0.0 % | |
| Interest Coverage Ratio | — | |
| Interest Coverage Ratio QoQ | — | |
| Interest Coverage Ratio YoY | — | |
| Interest Coverage Ratio IPRWA | — | |
| Operating Cash Flow Ratio | — | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | — | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | — | |
| Dividend Payout Ratio | — | |
| Dividend Rate | — | |
| Dividend Yield | — | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | — | |
| Revenue Growth | 20.504 % | |
| Revenue Growth QoQ | 0.0 % | |
| Revenue Growth YoY | 0.0 % | |
| Revenue Growth IPRWA | high: 301.849 % MESO: 20.504 % mean: 8.168 % median: 4.118 % low: -259.856 % |
|
| Earnings Growth | — | |
| Earnings Growth QoQ | — | |
| Earnings Growth YoY | — | |
| Earnings Growth IPRWA | — | |
| MARGINS | ||
| Gross Margin | — | |
| Gross Margin QoQ | — | |
| Gross Margin YoY | — | |
| Gross Margin IPRWA | — | |
| EBIT Margin | — | |
| EBIT Margin QoQ | — | |
| EBIT Margin YoY | — | |
| EBIT Margin IPRWA | — | |
| Return On Sales (ROS) | — | |
| Return On Sales QoQ | — | |
| Return On Sales YoY | — | |
| Return On Sales IPRWA | — | |
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ -15.26 M | |
| Free Cash Flow Yield | — | |
| Free Cash Flow Yield QoQ | — | |
| Free Cash Flow Yield YoY | — | |
| Free Cash Flow Yield IPRWA | — | |
| Free Cash Growth | -10.868 % | |
| Free Cash Growth QoQ | -132.319 % | |
| Free Cash Growth YoY | -569.663 % | |
| Free Cash Growth IPRWA | high: 201.164 % mean: 25.288 % median: 22.881 % MESO: -10.868 % low: -200.947 % |
|
| Free Cash To Net Income | — | |
| Cash Flow Margin | — | |
| Cash Flow To Earnings | — | |
| VALUE & RETURNS | ||
| Economic Value Added | — | |
| Return On Assets (ROA) | — | |
| Return On Assets QoQ | — | |
| Return On Assets YoY | — | |
| Return On Assets IPRWA | — | |
| Return On Capital Employed (ROCE) | — | |
| Return On Equity (ROE) | — | |
| Return On Equity QoQ | — | |
| Return On Equity YoY | — | |
| Return On Equity IPRWA | — | |
| DuPont ROE | — | |
| Return On Invested Capital (ROIC) | — | |
| Return On Invested Capital QoQ | — | |
| Return On Invested Capital YoY | — | |
| Return On Invested Capital IPRWA | — | |

