MESOBLAST LIMITED
ASX:MSBPharmaceuticals, Biotechnology & Life SciencesToday’s holders own 92.3% of what they think they own, once every option and right converts.
Share count grew 14% in 24 months; 1 cash raise in 24 months; options/rights overhang 8% of shares
MESOBLAST LIMITED's ordinary share count grew 14.0% between April 2024 and October 2026, its latest share-count filing, to 1.30B shares. The company raised A$260.0M in the 24-month window via a single placement in January 2025. Options and rights on issue could convert into 109M new shares, equal to 8.4% of the current share count, none of which are in the money; no expiry date for these securities is on record. The company holds more than 4 quarters of funding at the recent spend rate. One proposed securities issue (Appendix 3B) is pending, with an expected issue date in December 2026.
Quick answers · 5
Is MSB raising capital?
Mesoblast has 1 proposed issue of securities pending under Appendix 3B as at 28 Oct 2026; the most recent raise announced is Placement of $260.0M on 14 Jan 2025.
How much placement capacity does MSB have left?
About 99% of the 15% placement capacity left, about 1% used in 12 months (estimate). Under ASX Listing Rule 7.1 a company may place up to 15% of its shares in 12 months without shareholder approval.
How much cash does MSB have?
In its quarterly cash report for the quarter ended 30 June 2026, Mesoblast reported $149.8M of cash and estimated 11.1 quarters of funding available at its current rate of spending. That is the company's own estimate.
How many options and rights does MSB have outstanding?
Unexercised options and rights equal 8.4% of Mesoblast's shares on issue.
How much has MSB's share count grown?
Mesoblast has 1.30B shares on issue as at 28 Oct 2026, up 14.0% over 24 months according to its Appendix 2A filings.
Shares on issue — last 2 years
Cash runway
Issuance timeline
Latest 5 filings (Appendix 2AThe form a company lodges to have new securities quoted on the ASX. It restates how many of each class are on issue. quoted issues, 3G unquoted, 3H cancellations)
| Date | Form | Security | On issue, per this filing | Source |
|---|---|---|---|---|
| 14 Oct 2026 | 2A · quoted issue | MSB : ORDINARY FULLY PAID | 1.30B | Appendix 2A |
| 14 Oct 2026 | 3G · unquoted | MSB : ORDINARY FULLY PAID | 1.30B | Appendix 3G |
| 14 Oct 2026 | 3H · cancellation | MSB : ORDINARY FULLY PAID | 1.30B | Appendix 3H |
| 24 Aug 2026 | 3G · unquoted | MSB : ORDINARY FULLY PAID | 1.30B | Appendix 3G |
| 21 July 2026 | 2A · quoted issue | MSB : ORDINARY FULLY PAID | 1.30B | Appendix 2A |
Securities on issue over time
Ordinary shares and every option and rights class, month by month over two years. The top edge is the fully diluted count.
Capital raises
1 cash raise in the last 24 months · 0 in the last 12 months
Forward supply
Every dated event on record that could add securities to the register — option expiries to their stated dates and proposed issues over the next 18 months, on one timeline.
Placement capacity
How much stock a company can place without asking holders. Listing Rule 7.1 / 7.1ARule 7.1 lets a company issue up to 15% of its shares in 12 months without a shareholder vote. Rule 7.1A adds 10% for smaller companies whose holders approve it. allows 15% of ordinary securities in any 12 months, and every Appendix 3BNotice that a company proposes to issue new securities, such as a placement. The securities are not on issue until a later filing confirms it. states how much of it an issue uses.
Pending proposed issues
Options & convertible securities
No option supply on record carries an exercise price to pay, so no share price switches any of it on. All 109.2M of it converts on something else — a hurdle that may never be met, or terms the filing does not price.
| Code | Security | Type | Exercise price | Expiry | On issue | Source |
|---|---|---|---|---|---|---|
| MSBAP | Warrants | Price-triggered, no exercise price stated | — | — | 885k | Filing |
| MSBAA | Warrants | Price-triggered, no exercise price stated | — | — | 2.0M | Filing |
| MSBAB | Warrants | Price-triggered, no exercise price stated | — | — | 2.0M | Filing |
| MSBAO | Warrants | Price-triggered, no exercise price stated | — | — | 15.0M | Filing |
| MSBAI | Options | Price-triggered, no exercise price stated | — | — | 89.3M | Filing |
“Nil” is a stated nil exercise price: nothing is paid to convert. An em dash means the filing names no exercise price at all. Security is read from the filing’s own class description; an em dash there means the description is not one this table labels. One row is one security class, at the number stated in the most recent quotation application that restated it — linked, and dated, in the last column. For what expires soon across other listed companies, see the options expiry calendar.
Director dealings
| Date | Director | Type | Shares | Options | Other | Value | Source |
|---|---|---|---|---|---|---|---|
| 19 Aug 2026 | Philip R. Krause | Other | — | 875k | — | — | 3Y notice |
| 17 July 2026 | Dr Silviu Itescu | Other | 1.9M | 1.9M | — | $2.7M | 3Y notice |
| 7 July 2026 | Dr Silviu Itescu | Other | 79.0M | 18.2M | — | — | 3Y notice |
Ownership
Latest announcements
Headlines link to the source PDFs on the ASX announcements platform. Data as of 28 Oct 2026.