The FDA has approved Mesoblast’s Ryoncil, the first mesenchymal stromal cell therapy in the US, for treating steroid-refractory acute graft-versus-host disease (SR-aGvHD) in children. This innovative treatment demonstrated a 70% overall response rate in a Phase 3 trial. The approval marks a significant advancement in pediatric oncology and has positively impacted Mesoblast’s stock price.