The US Food and Drug Administration's approval of a mesenchymal stromal cell (MSC) therapy bodes well for Cynata Therapeutics (ASX:CYP), Euroz Hartleys said in a Dec. 19 note.
Cynata Therapeutics focuses on the development and commercialization of its platform technology, Cymerus, which enables scalable production of MSC-based products for human therapeutic use.
Last week, the regulator approved Ryoncil, Mesoblast's (ASX:MSB) MSC therapy for children aged 2 months and older, with steroid-refractory acute graft versus host disease.
Euroz Hartleys believes that the approval from the regulator signals openness to approving additional MSC-based therapies.
The investment firm maintained its speculative buy rating and price target of AU$0.67 on Cynata Therapeutics.
Shares of Cynanta Therapeutics rose 5% in recent Monday trade, and Mesoblast's shares surged almost 9%.
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