Shares of Mesoblast Ltd. (MESO) are surging over 36% in pre-market today, after the company announced that the U.S. FDA has cleared its Investigational New Drug or IND application to use intravenous infusions of its allogeneic mesenchymal stem cell or MSC product candidate remestemcel-L to treat patients with acute respiratory distress syndrome or ARDS caused by coronavirus infection (COVID-19).
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