Earnings summaries and quarterly performance for MESABI TRUST.
Research analysts who have asked questions during MESABI TRUST earnings calls.
ET
Edward Tenthoff
Piper Sandler Companies
2 questions for MSB
Also covers: ARVN, ARWR, CAPR +16 more
MW
Madeleine Williams
Canaccord Genuity
2 questions for MSB
Michael Okunewitch
Maxim Group
2 questions for MSB
Also covers: BLFS, BLTE, BNGO +12 more
OB
Olivia Brayer
Cantor
2 questions for MSB
Also covers: AMGN, AUPH, BMRN +9 more
Recent press releases and 8-K filings for MSB.
Mesoblast Reports H1 FY26 Results, Provides Ryoncil Guidance, and Updates on Pipeline
MSB
Earnings
Guidance Update
Debt Issuance
- Mesoblast reported net product revenues from Ryoncil of $49 million for the first half of fiscal year 2026, contributing to total revenues of $51.3 million. The company projects full-year fiscal 2026 Ryoncil net revenues to range between $110 million and $120 million.
- The company reported a loss of $40.2 million for the first half of fiscal year 2026 and secured a $125 million non-dilutive credit line facility on December 30, 2025, with $75 million drawn and an additional $50 million available through June 2026, resulting in $130 million in cash on-hand at year-end.
- Ryoncil, launched in April 2025, has achieved significant market adoption with 49 treatment centers onboarded and insurance coverage for over 280 million lives, with plans to initiate label expansion to adults with acute GVHD.
- The company expects to file a BLA for full approval of Revascor for chronic heart failure in the next quarter and anticipates completing enrollment for the confirmatory Phase 3 trial of rexlemestrocel-L for chronic low back pain by March or April 2026, with a BLA filing expected in calendar year 2027.
1 day ago
Mesoblast Reports H1 FY26 Financial Results and Provides FY26 Ryoncil Revenue Guidance
MSB
Earnings
Guidance Update
Product Launch
- Mesoblast reported total revenues of $51.3 million and net product revenues from Ryoncil of $49 million for the first half of fiscal year 2026, achieving a gross margin of 93%. The company projects full year fiscal 2026 Ryoncil net revenues to range between $110 million and $120 million.
- Ryoncil, launched in April 2025, has onboarded 49 treatment centers and secured formulary approval in 30 centers, and is on track to achieve 20% market share in the pediatric market by the end of the fiscal year.
- The company plans to file for full FDA approval for Revascor, indicated for chronic heart failure with LVADs, in the next quarter, supported by new data demonstrating reduced major bleeding events and improved survival.
- Enrollment for the confirmatory Phase 3 trial of rexlemestrocel-L for chronic low back pain is expected to be completed by March or April, with data readout and BLA filing anticipated in calendar year 2027.
- Mesoblast strengthened its financial position with $130 million in cash as of December 31, 2025, and secured a new $125 million non-dilutive credit line facility, with $75 million already drawn.
1 day ago
Mesoblast Reports H1 FY26 Financial Results, Provides FY26 Ryoncil Revenue Guidance, and Advances Pipeline
MSB
Earnings
Guidance Update
Product Launch
- Mesoblast reported total revenues of $51.3 million and Ryoncil net revenues of $49 million for the first half of fiscal year 2026, achieving a gross margin of 93%. The company projects full-year fiscal 2026 Ryoncil net revenues to range between $110 million and $120 million.
- As of December 31, 2025, Mesoblast held $130 million in cash and secured a $125 million non-dilutive credit line facility, with $75 million drawn and $50 million available through June 2026.
- Ryoncil continues its successful launch, with 49 treatment centers onboarded and 30 centers with formulary listings. The company aims to achieve 20% market share in the pediatric population by the end of the fiscal year and is initiating label expansion to adults for acute GVHD.
- A BLA filing for full approval of Revascor for end-stage heart failure is expected in the next quarter. The confirmatory Phase III trial for rexlemestrocel-L in chronic low back pain is expected to complete enrollment by March or April, with data readout and BLA filing in calendar year 2027.
1 day ago
Mesabi Trust Announces Q4 2025 Royalty Payment and Shipments
MSB
Earnings
Dividends
Demand Weakening
- Mesabi Trust received $4,943,488 in total royalty payments from Cleveland-Cliffs Inc. on January 30, 2026, for the quarter ended December 31, 2025.
- The royalty payment included a base royalty of $3,622,142, a bonus royalty of $1,041,580, and $66,572 in adjustments related to prior quarters.
- Iron ore shipments by Northshore for the quarter ended December 31, 2025, totaled 956,512 tons, a decrease from 1,110,800 tons shipped during the fourth calendar quarter of 2024.
- The Trust noted that royalty payments can vary significantly from quarter to quarter and year to year due to multiple factors, and past payments are not necessarily indicative of future results.
Feb 3, 2026, 9:30 PM
Mesabi Trust Declares Q3 2026 Distribution
MSB
Dividends
Demand Weakening
- Mesabi Trust announced a distribution of $0.26 per Unit of Beneficial Interest, payable on February 20, 2026, to unitholders of record on January 30, 2026.
- This distribution is substantially lower than the $5.95 per Unit declared for the same period last year, primarily due to the prior year's inclusion of $71,185,029 in non-recurring arbitration award revenue.
- The current distribution also reflects lower royalty payments of $4,005,142 received on October 30, 2025, compared to $7,355,929 received in October 2024.
- The Trustees are maintaining appropriate reserves and considering uncertainties in the iron ore and steel industries and global economic conditions.
Jan 16, 2026, 9:21 PM
Mesabi Trust Declares Distribution, Down Significantly Year-Over-Year
MSB
Dividends
Legal Proceedings
Demand Weakening
- Mesabi Trust declared a distribution of $0.26 per Unit payable on February 20, 2026, to unitholders of record on January 30, 2026.
- This distribution is significantly lower than the $5.95 per Unit declared for the same period last year, primarily due to the prior year's inclusion of a non-recurring $71,185,029 arbitration award received on October 4, 2024.
- The current distribution also reflects lower total royalty payments of $4,005,142 received from Cliffs on October 30, 2025, compared to $7,355,929 received in October 2024.
- The Trustees are maintaining appropriate reserves and acknowledge uncertainties in the iron ore and steel industries, as well as Cliffs' plans for Northshore operations.
Jan 16, 2026, 9:05 PM
Mesabi Trust Reports Q3 2025 Royalty Payments
MSB
Earnings
Revenue Acceleration/Inflection
- Mesabi Trust received total royalty payments of $4,005,142 on October 30, 2025, for iron ore shipments during the quarter ended September 30, 2025.
- The royalty payment included a base royalty of $2,817,500 and a bonus royalty of $973,410.
- 987,370 tons of iron ore were credited as shipped by Northshore Mining Company during the third calendar quarter of 2025, an increase from 972,154 tons shipped in the third calendar quarter of 2024.
Oct 31, 2025, 8:30 PM
Mesabi Trust Declares Q3 2025 Distribution
MSB
Dividends
Guidance Update
Demand Weakening
- Mesabi Trust declared a distribution of $0.34 per Unit of Beneficial Interest, payable on November 20, 2025, to unitholders of record on October 30, 2025.
- This distribution is lower than the $0.39 per Unit declared for the same period last year.
- The distribution decision reflects total royalty payments of $5,300,287 received on July 30, 2025, from Cleveland-Cliffs Inc..
- Trustees also considered maintaining appropriate reserves and various uncertainties, including volatility in the iron ore and steel industries, global economic uncertainties, and potential changes in trade laws.
- Quarterly royalty payments for the third calendar quarter are due on October 30, 2025, after which Mesabi Trust plans to file a summary with the SEC.
Oct 10, 2025, 8:05 PM
Quarterly earnings call transcripts for MESABI TRUST.
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