Mesoblast Limited (NASDAQ:MESO) shares are trading higher on Friday after the company announced that Ryoncil received a J-Code from the United States Medicare & Medicaid Services, streamlining billing and payment processes for the product.
What To Know: The new permanent J-Code, J3402, became active for billing and reimbursement on October 1, providing a standardized and specific billing pathway for Ryoncil through Medicaid. The designation facilitates reimbursement and broader patient access, while commercial payers typically look to permanent J-codes to update their coverage systems.
Mesoblast CEO Silviu Itescu said “a permanent J-Code is a critical element for successful commercialization of rare disease products, ensuring more efficient billing and enabling timely access to Ryoncil for children with life-threatening SR-aGvHD.”
Ryoncil is the first mesenchymal stromal cell product approved by the U.S. Food and Drug Administration for any indication, and the only product approved for children under age 12 with steroid-refractory acute graft-versus-host disease.
MESO Price Action: Mesoblast shares were up 8.78% at $18.50 at the time of publication on Friday, according to Benzinga Pro.
Read Next:
Image: Shutterstock
