Mesoblast's Ryoncil Gains Permanent CMS J-Code for Billing and Reimbursement

Mesoblast Limited (NASDAQ:MESO) is one of the best hot stocks to invest in. On October 3, Mesoblast Limited announced that its product Ryoncil (remestemcel-L-rknd) was assigned a specific Healthcare Common Procedure Coding System/HCPCS J-Code by the US Medicare & Medicaid Services/CMS. The new permanent J-Code, J3402, became active for billing and reimbursement on October 1.

The formal recognition by CMS is a commercial milestone as it provides a standardized, clear, and permanent billing pathway for Ryoncil, facilitating reimbursement by Medicare, Medicaid, and commercial payers, thus enabling broader patient access to the therapy. Ryoncil is the first mesenchymal stromal cell/MSC product approved by the US FDA for any indication.

It is the only product approved for children under age 12 (specifically, pediatric patients 2 months and older) with steroid-refractory acute graft-versus-host disease/SR-aGvHD. Mesoblast develops allogeneic (off-the-shelf) cellular medicines for severe inflammatory conditions. The company’s proprietary mesenchymal lineage cell therapy technology platform works by having its cell therapies release anti-inflammatory factors that modulate the immune system to reduce damaging inflammatory processes.

Mesoblast Limited (NASDAQ:MESO), together with its subsidiaries, develops regenerative medicine products in Australia, the US, Singapore, and Switzerland. The company’s proprietary regenerative medicine technology platform is based on specialized cells known as mesenchymal lineage cells.

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Disclosure: None. This article is originally published at Insider Monkey.