Document and Entity Information	12 Months Ended
Document and Entity Information	Jun. 30, 2018 shares
Document And Entity Information [Abstract]
Document Type	20-F
Amendment Flag	false
Document Period End Date	Jun. 30, 2018
Document Fiscal Year Focus	2018
Document Fiscal Period Focus	FY
Trading Symbol	MESO
Entity Registrant Name	MESOBLAST LTD
Entity Central Index Key	0001345099
Current Fiscal Year End Date	--06-30
Entity Well-known Seasoned Issuer	No
Entity Current Reporting Status	Yes
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding	482,639,654

Consolidated Income Statement - USD ($) $ in Thousands	12 Months Ended
Consolidated Income Statement - USD ($) $ in Thousands	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2016
Income Statement [Abstract]
Revenue	$ 17,341	$ 2,412	$ 42,548
Research & development	(65,927)	(58,914)	(50,013)
Manufacturing commercialization	(5,508)	(12,065)	(29,763)
Management and administration	(21,907)	(23,007)	(22,500)
Fair value remeasurement of contingent consideration	10,541	(130)	28,112
Other operating income and expenses	1,312	1,489	2,714
Finance costs	(1,829)
Impairment of intangible assets			(61,919)
Loss before income tax	(65,977)	(90,215)	(90,821)
Income tax benefit/(expense)	30,687	13,400	86,694
Loss attributable to the owners of Mesoblast Limited	$ (35,290)	$ (76,815)	$ (4,127)
Losses per share from continuing operations attributable to the ordinary equity holders of the Group:
Basic - losses per share	$ (0.0758)	$ (0.1925)	$ (0.0113)
Diluted - losses per share	$ (0.0758)	$ (0.1925)	$ (0.0113)

Consolidated Statement of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2016
Statement Of Comprehensive Income [Abstract]
Loss for the year	$ (35,290)	$ (76,815)	$ (4,127)
Items that may be reclassified to profit and loss
Changes in the fair value of available-for-sale financial assets	324	31	(334)
Exchange differences on translation of foreign operations	(903)	316	(705)
Other comprehensive (loss)/income for the period, net of tax	(579)	347	(1,039)
Total comprehensive losses attributable to the owners of Mesoblast Limited	$ (35,869)	$ (76,468)	$ (5,166)

Consolidated Statement of Changes in Equity - USD ($) $ in Thousands	Total	Issued Capital	Share Option Reserve	Investment Revaluation Reserve	Foreign Currency Translation Reserve	Retained Earnings
Beginning balance at Jun. 30, 2015	$ 467,987	$ 709,191	$ 60,740		$ (37,984)	$ (263,960)
Loss for the period	(4,127)					(4,127)
Other comprehensive income (loss)	(1,039)			$ (334)	(705)
Total comprehensive profit/(loss) for the period	(5,166)			(334)	(705)	(4,127)
Transactions with owners in their capacity as owners:
Contributions of equity net of transaction costs	60,947	60,947
Transactions with owners in their capacity as owners	60,947	60,947
Transfer exercised options		134	(134)
Fair value of share-based payments	3,149		3,149
Reclassification of modified options to liability	1,244		1,244
Increase (decrease) in equity	4,393	134	4,259
Ending balance at Jun. 30, 2016	528,161	770,272	64,999	(334)	(38,689)	(268,087)
Loss for the period	(76,815)					(76,815)
Other comprehensive income (loss)	347			31	316
Total comprehensive profit/(loss) for the period	(76,468)			31	316	(76,815)
Transactions with owners in their capacity as owners:
Contributions of equity net of transaction costs	60,140	60,140
Transactions with owners in their capacity as owners	60,140	60,140
Transfer exercised options		13	(13)
Fair value of share-based payments	5,036		5,036
Reclassification of modified options to liability	(103)		(103)
Increase (decrease) in equity	4,933	13	4,920
Ending balance at Jun. 30, 2017	516,766	830,425	69,919	(303)	(38,373)	(344,902)
Loss for the period	(35,290)					(35,290)
Other comprehensive income (loss)	(579)			324	(903)
Total comprehensive profit/(loss) for the period	(35,869)			324	(903)	(35,290)
Transactions with owners in their capacity as owners:
Contributions of equity net of transaction costs	49,358	49,358
Transactions with owners in their capacity as owners	59,018	59,018
Transfer exercised options		38	(38)
Fair value of share-based payments	5,959		5,959
Reclassification of modified options to liability	134		134
Increase (decrease) in equity	6,093	38	6,055
Contributions of equity for unissued ordinary shares, net of transaction costs	9,660	9,660
Ending balance at Jun. 30, 2018	$ 546,008	$ 889,481	$ 75,974	$ 21	$ (39,276)	$ (380,192)

Consolidated Balance Sheet - USD ($) $ in Thousands	Jun. 30, 2018	Jun. 30, 2017
Current Assets
Cash & cash equivalents	$ 37,763	$ 45,761
Trade & other receivables	50,366	3,743
Prepayments	12,942	14,105
Total Current Assets	101,071	63,609
Non-Current Assets
Property, plant and equipment	1,084	1,814
Available-for-sale financial assets	2,321	1,997
Other non-current assets	3,361	1,916
Intangible assets	584,606	586,350
Total Non-Current Assets	591,372	592,077
Total Assets	692,443	655,686
Current Liabilities
Trade and other payables	18,921	21,805
Provisions	5,082	14,865
Total Current Liabilities	24,003	36,670
Non-Current Liabilities
Deferred tax liability	20,079	49,293
Provisions	42,956	52,957
Borrowings	59,397
Total Non-Current Liabilities	122,432	102,250
Total Liabilities	146,435	138,920
Net Assets	546,008	516,766
Equity
Issued Capital	889,481	830,425
Reserves	36,719	31,243
(Accumulated losses)/retained earnings	(380,192)	(344,902)
Total Equity	$ 546,008	$ 516,766

Consolidated Statement of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2016
Cash flows from operating activities
Commercialization revenue received	$ 3,019	$ 1,332	$ 99
Milestone payment received	7,125	500	3,500
Research and development tax incentive received		2,813	4,466
Payments to suppliers and employees (inclusive of goods and services tax)	(84,682)	(100,598)	(97,190)
Interest received	367	483	1,129
Interest paid	(816)
Income taxes (paid)/refunded	(25)	(1)
Net cash (outflows) in operating activities	(75,012)	(95,471)	(87,996)
Cash flows from investing activities
Payments for contingent consideration	(952)
Investment in fixed assets	(201)	(311)	(722)
Rental deposits received		453
Payments for investments			(805)
Payments for licenses			(200)
Net cash (outflows)/inflows in investing activities	(1,153)	142	(1,727)
Cash flows from financing activities
Proceeds from borrowings	31,704
Payments of transaction costs from borrowings	(392)
Proceeds from issue of shares	40,566	61,932	68,549
Payments for share issue costs	(3,265)	(1,927)	(6,483)
Net cash inflows by financing activities	68,613	60,005	62,066
Net decrease in cash and cash equivalents	(7,552)	(35,324)	(27,657)
Cash and cash equivalents at beginning of period	45,761	80,937	110,701
FX (losses)/gains on the translation of foreign bank accounts	(446)	148	(2,107)
Cash and cash equivalents at end of period	$ 37,763	$ 45,761	$ 80,937

Basis of preparation

12 Months Ended

Jun. 30, 2018

Basis Of Preparation [Abstract]

Basis of Preparation

1. Basis of preparation

The general purpose financial statements of Mesoblast Limited and its subsidiaries have been prepared in accordance with International Financial Reporting Standards, as issued by the International Accounting Standards Board and Australian equivalent International Financial Reporting Standards, as issued by the Australian Accounting Standards Board. Mesoblast Limited is a for-profit entity for the purpose of preparing the financial statements.

(i)	Going concern

For the fiscal years ended June 30, 2018, 2017 and 2016, the Group incurred a total comprehensive loss after income tax of $35.9 million, $76.5 million and $5.2 million, respectively, and had net cash outflows from operations of $75.0 million, $95.5 million and $88.0 million, respectively. As of June 30, 2018, the Group held total cash and cash equivalents of $37.8 million. As of June 30, 2018, the Group recognized funds receivable from debt financing and unissued capital of $39.0 million pursuant to a financing facility with NovaQuest Capital Management, L.L.C. (“NovaQuest”). On July 10, 2018 the net proceeds from the financing facility of $39.0 million were received and recognized in cash and cash equivalents. The Group will also receive $40.0 million from Tasly Pharmaceutical Group (“Tasly”) on closing of the strategic alliance that the two companies announced in July 2018 for cardiovascular therapies in China. This receipt is subject to filing with the State Administration of Foreign Exchange.

In addition to the strategic alliance with Tasly, the Group has committed to entering into non-dilutive commercial partnering transactions to fund operations. The Group also continues to work on various cost containment and deferment strategies. A fully discretionary equity facility remains for up to A$120 million/US$ 90 million over 12 months to provide additional funds as required. The Group may also consider equity-based financing or drawing further debt funding on current debt arrangements to fund future operational requirements.

There is uncertainty related to the Group’s ability to partner programs, raise capital or debt at terms to meet the Group’s requirements. Additionally, there is uncertainty related to the Group’s ability to sustainably maintain implemented cost reductions and further defer programs on a timely basis while achieving expected outcomes.

The continuing viability of the Group and its ability to continue as a going concern and meet its debts and commitments as they fall due are dependent upon the strategic alliance with Tasly, non-dilutive funding in the form of commercial partnering transactions or equity-based financing to fund future operations, together with maintaining implemented cost containment and deferment strategies.

Management and the directors believe that the Group will be successful in the above matters and, accordingly, have prepared the financial report on a going concern basis, notwithstanding that there is a material uncertainty that may cast significant doubt on the Group’s ability to continue as a going concern and that it may be unable to realize its assets and liabilities in the normal course of business.

References to matters that may cast significant doubt about the Group’s ability to continue as a going concern also raise substantial doubt as contemplated by the Public Company Accounting Oversight Board (“PCAOB”) standards.

(ii)Historical cost convention

These financial statements have been prepared under the historical cost convention, as modified by the revaluation of available-for-sale financial assets, financial assets and liabilities (including derivative instruments) at fair value through profit or loss, certain classes of property, plant and equipment and investment property.

(iii)

New and amended standards adopted by the Group

There were no new or amended accounting standards that were applicable to the Group for the June 30, 2018 reporting period.

(iv)	New accounting standards and interpretations not yet adopted

Certain new accounting standards and interpretations have been published that are not mandatory for the June 30, 2018 reporting period. The Group has not elected to apply any pronouncements before their operative date in the annual reporting period beginning July 1, 2017.

Initial application of the following Standards is not expected to materially impact the amounts recognized or disclosures made in the current financial report and management do not consider these new accounting standards to have a material impact on future transactions made in relation to the Group. The Group is in the process of assessing the impact of these new standards on its accounting policy.

The following standards applicable to the Group but are not yet adopted are summarized below:


Title of standard	IFRS 9 Financial Instruments
Key requirements	IFRS 9 introduced revisions in the following areas: • Classification and measurement – replacement of the existing complex rule-based requirements with a principle-based approach which is driven by cash flow characteristics and business model. • Impairment – a single impairment model to be applied to all financial instruments where expected credit losses must be accounted for from when the financial instruments are first recognized. This requirement lowers the threshold for recognition of full lifetime expected losses. • Hedge accounting – a reformed model for hedge accounting with enhanced disclosures about risk management activity.
Impact	The Group has reviewed its financial assets and liabilities and expects the following impact from the adoption of the new standard from July 1, 2018: • Accounting for non-trading equity investments – IFRS 9 requires investments in equity instruments to be recorded at fair value with changes recognized through profit or loss (FVTPL). There is an allowance for management to make an irrevocable election on initial recognition for fair value changes in non-trading equity investments to be recorded in other comprehensive income (FVOCI). The Group has an available-for-sale financial asset recorded at $2.3 million as at June 30, 2018, measured at FVOCI. On transition to IFRS 9 on July 1, 2018, the Group expects to make an election to record this investment in an equity instrument at FVOCI. Therefore, no material impact is expected on the measurement of the AFS financial asset on transition. • Accounting for financial liabilities – the Group has financial liabilities arising from contingent consideration of $42.1 million as at June 30, 2018, which is mandatorily carried at FVTPL, and financial liabilities carried at amortized cost of $59.4 million as at June 30, 2018. There is an allowance for management to make an irrevocable election on initial recognition for financial liabilities that are measured at amortized cost to be measured at FVTPL. The Group does not expect to designate any of its financial liabilities carried at amortized cost as FVTPL using the fair value option upon adoption of IFRS 9 on July 1, 2018. Therefore, the Group does not expect any material impact on transition to IFRS 9 from July 1, 2018.
Effective Date	IFRS 9 must be applied for financial years commencing on or after January 1, 2018. The Group has not adopted IFRS 9 before its mandatory date.


Title of standard	IFRS 15 Revenue from Contracts with Customers
Key requirements	IFRS 15 provides a single, principles based five-step model to be applied to all contracts with customers. The five steps in the model are as follows: • Identify the contract with the customer • Identify the performance obligations in the contract • Determine the transaction price • Allocate the transaction price to the performance obligations in the contracts • Recognize revenue when (or as) the entity satisfies a performance obligation. Guidance is provided on topics such as the point in which revenue is recognized, accounting for variable consideration, costs of fulfilling and obtaining a contract and various related matters. New disclosures about revenue are also introduced.
Impact	The Group has reviewed all relevant revenue arrangements and expects the following effects of applying the new standard on the Group’s financial statements: • Accounting for sales- or usage-based royalties – IFRS 15 contains an exception to the general principles for accounting for variable consideration for sales- or usage-based royalties arising from licenses of IP. Under this exception, royalties are recognized at the later of when underlying sales occur and all royalty-related performance obligations are satisfied. In the year ended June 30, 2018, the Group earned sales-based royalty and milestone income from licensing arrangement with JCR Pharmaceuticals Co., Ltd. (“JCR”) of $5.1 million. The Group estimates that the impact of applying the sales- or usage-based royalty exception will not have a material impact on transition to IFRS 15 from July 1, 2018. • Accounting for the licensing of intellectual property (“IP”) – IFRS 15 contains specific implementation guidance for the accounting for licenses of IP. In particular, the Group is required to determine whether a license granted to a customer provides a right to use IP or a right to access IP. This determination affects whether revenue is recognized at a point in time or over time, respectively. In the year ended June 30, 2018, the Group recognized milestone revenue relating to the non-refundable up-front payment of $5.9 million (€5.0 million) received upon execution of the Group’s patent license arrangement with Takeda Pharmaceutical Company Limited (“Takeda”) in December 2017 and $5.9 million (€5.0 million) in relation to further payments due within 12 months of the patent license agreement date for the product Alofisel®. The license of IP to Takeda is a license to use under IFRS 15 and therefore revenue is recognized at a point in time as performance obligations are satisfied. Since the performance obligations have been satisfied for the revenue recognized in the year ended June 30, 2018, the Group does not expect a material impact on transition to IFRS 15 on July 1, 2018. • Accounting for contracts with variable consideration – IFRS 15 contains a constraint that allows variable consideration to be included in the transaction price only to the extent that it is highly probable that a significant reversal of cumulative revenue recognized will not occur. Under the patent license arrangement with Takeda, the Group is entitled to up to €10.0 million in payments from Takeda when Alofisel® reaches certain product regulatory milestones. The product regulatory milestones are subject to the constraint over variable consideration and the Group has not recognized consideration in respect of these payments in the calculation of the transaction price for revenue recognized in the year to June 30, 2018. Therefore, we do not expect there to be a material impact on transition to IFRS 15 on July 1, 2018.
Effective Date	IFRS 15 must be applied for financial years commencing on or after January 1, 2018. The Group has not adopted IFRS 15 before its mandatory date and intends to adopt the standard using the modified retrospective approach which means that the cumulative impact of the adoption will be recognized in retained earnings as of July 1, 2018, and comparative disclosures will not be restated.


Title of standard	IFRS 16 Leases
Key requirements	IFRS 16 eliminates the classification of leases as either operating leases or finance leases for a lessee; they are recognized on the balance sheet as they are treated in a similar way to finance leases applying IAS 17. Leases are ‘capitalized’ by recognizing the present value of the lease payments and showing them either as lease assets (right-of-use assets) or together with property, plant and equipment. If lease payments are made over time, a financial liability is required to be recognized to represent the obligation to make future lease payments. There is little change for the accounting for a lessor.
Impact	Refer to Notes 14 (b) and (c) for the lease commitments the Group holds as a lessee and lessor. The Group is currently evaluating the effect that the updated IFRS 16 will have on the consolidated financial statements and related disclosures.
Effective Date	IFRS 16 must be applied on or after January 1, 2019. The Group does not intend to adopt IFRS 16 before its mandatory date.

Significant changes in the current reporting period

12 Months Ended

Jun. 30, 2018

Disclosure Of Significant Changes In Current Reporting Period [Abstract]

Significant changes in the current reporting period

2. Significant changes in the current reporting period

(i)	Significant events

The financial position and performance of the Group was affected by the following events during the year ended June 30, 2018:

•

On December 14, 2017, the Group entered into a patent license agreement with TiGenix NV, now a wholly owned subsidiary of Takeda, which granted Takeda exclusive access to certain of its patents to support global commercialization of the adipose-derived mesenchymal stem cell product Alofisel®, previously known as Cx601 for the local treatment of fistulae. The agreement includes the right for Takeda to grant sub-licenses to affiliates and third parties. As part of the agreement, the Group received $5.9 million (€5.0 million) as a non-refundable up-front payment. The Group will be entitled to further payments of €5.0 million within 12 months of the patent license agreement date, and up to €10.0 million when Takeda reaches certain product regulatory milestones. Additionally, the Group will receive single digit royalties on net sales of Alofisel®.

•

On December 22, 2017, the United States signed into law the Tax Cuts and Jobs Act (“the Tax Act”), which changed many aspects of U.S. corporate income taxation, including a reduction in the corporate income tax rate from 35% to 21%. The Group recognized the tax effects of the Tax Act, the most significant of which was a tax benefit resulting from the remeasurement of deferred tax balances to 21%, see Note 4.

•

On March 6, 2018, the Group entered into a $75.0 million non-dilutive, four year credit facility with Hercules Capital, Inc. (“Hercules”). The Group drew the first tranche of $35.0 million of the principal amount on closing. An additional $40.0 million may be drawn as certain milestones are met. The loan matures in March 2022 with principal repayments commencing in October 2019 with the ability to defer the commencement of principal repayments to October 2020 if certain milestones are met, see Note 5(f).

•

On June 29, 2018, the Group entered into a $40.0 million non-dilutive, eight year credit facility and a $10.0 million equity placement with NovaQuest. The Group drew the first tranche of $30.0 million of the principal amount on closing, with an additional tranche of $10.0 million becoming available on marketing approval of remestemcel-L (“MSC-100-IV”) by the United States Food and Drug Administration (“FDA”). The loan matures in July 2026 with principal repayments from net sales of MSC-100-IV and interest payments deferred until after the first commercial sale, see Note 5(f).

•

On July 17, 2018, the Group announced that it had entered into a strategic alliance with Tasly Pharmaceuticals Group (“Tasly”) for the development, manufacture and commercialization in China of the Group’s allogenic mesenchymal precursor cell products, MPC-150-IM for the treatment or prevention of chronic heart failure and MPC-25-IC for the treatment or prevention of acute myocardial infraction. Tasly will receive exclusive rights and will fund all development, manufacturing and commercialization activities in China for MPC-150-IM and MPC-25-IC.

The Group will receive $40.0 million from Tasly on closing of the strategic alliance, comprising a $20.0 million up-front technology access fee and $20.0 million in an equity purchase in Mesoblast Limited at A$1.86 per share, representing a 20% premium to a blended volume weighted average price calculated over three months, one month and one day. This receipt is subject to filing with the State Administration of Foreign Exchange. The Group is also entitled to receive $25.0 million on product regulatory approvals in China, double-digit escalating royalties on net product sales and is eligible to receive up to six escalating milestone payments upon the product candidates reaching certain sales thresholds in China, see Note 15.

Loss before income tax

12 Months Ended

Jun. 30, 2018

Disclosure Of Loss Before Income Tax [Abstract]

Loss before income tax

3. Loss before income tax

		Year Ended June 30,
(in U.S. dollars, in thousands)	Note	2018			2017			2016
Revenue
Commercialization Revenue			3,641			1,444			37,969
Milestone Revenue			13,334			500			3,500
Interest Revenue			366			468			1,079
Total Revenue			17,341			2,412			42,548

Clinical trial and research & development			(42,863	)		(38,141	)		(30,270	)
Manufacturing production & development			(3,640	)		(8,313	)		(21,506	)

Employee benefits
Salaries and employee benefits			(19,343	)		(20,039	)		(24,350	)
Defined contribution superannuation expenses			(374	)		(362	)		(362	)
Equity settled share-based payment transactions⁽¹⁾			(6,199	)		(5,276	)		(3,389	)
Total Employee benefits			(25,916	)		(25,677	)		(28,101	)

Depreciation and amortization of non-current assets
Plant and equipment depreciation			(909	)		(1,578	)		(1,625	)
Intellectual property amortization			(1,741	)		(1,479	)		(567	)
Total Depreciation and amortization of non-current assets			(2,650	)		(3,057	)		(2,192	)

Other Management & administration expenses
Overheads & administration			(8,477	)		(8,128	)		(10,361	)
Consultancy			(3,295	)		(3,329	)		(3,396	)
Legal, patent and other professional fees			(3,436	)		(4,452	)		(3,888	)
Intellectual property expenses (excluding the amount amortized above)			(3,065	)		(2,889	)		(2,562	)
Total Other Management & administration expenses			(18,273	)		(18,798	)		(20,207	)

Fair value remeasurement of contingent consideration
Remeasurement of contingent consideration	5(g)(iii)		10,541			(130	)		28,112
Total Fair value remeasurement of contingent consideration			10,541			(130	)		28,112

Impairment of intangible assets
Impairment of in-process research and development acquired	6(b)		—			—			(61,919	)
Total Impairment of intangible assets			—			—			(61,919	)

Other operating income and expenses
Research & development tax incentive⁽²⁾			1,807			1,532			3,840
Foreign exchange gains/(losses)			161			(43	)		(1,126	)
Foreign withholding tax paid			(656	)		—			—
Total Other operating income and expenses			1,312			1,489			2,714

Finance costs
Interest expense			(1,829	)		—			—
Total Finance costs			(1,829	)		—			—

Total loss before income tax			(65,977	)		(90,215	)		(90,821	)

(1)	Share-based payment transactions

For the year ended June 30, 2018, 2017 and 2016, share-based payment transactions have been reflected in the Consolidated Statement of Comprehensive Income functional expense categories as follows:

	Year Ended June 30,
(in U.S. dollars)	2018		2017		2016
Research and development		3,638,311		2,837,231		2,461,110
Manufacturing and commercialization		558,928		420,762		681,355
Management and administration		2,001,349		2,017,172		246,197
		6,198,588		5,275,165		3,388,662

(2)	Research and development tax incentive

The Group’s research and development activities are eligible under an Australian Government tax incentive for eligible expenditures from July 1, 2011. Management has assessed these activities and expenditures to determine which are likely to be eligible under the incentive scheme. At each period end management estimates the refundable tax offset available to the Group based on available information at the time. The Group uses the assistance of independent tax specialists to review, on an annual basis, the quantum of our previous research and development tax claim and our on-going eligibility to claim this tax incentive in Australia. For years ended June 30, 2018, 2017 and 2016, the Group has recognized income of $1.8 million, $1.5 million and $3.8 million, respectively.

Of the $1.8 million research and development tax incentive recorded in other income for the year ended June 30, 2018, $0.1 million relates to a change in the original estimate of the research and development tax incentive income the Group estimated it would receive from the Australian Government for the year ended June 30, 2017.

Of the $1.5 million research and development tax incentive recorded in other income for the year ended June 30, 2017, $(0.1) million relates to a change in the original estimate of the research and development tax incentive income the Group estimated it would receive from the Australian Government for the year ended June 30, 2016.

Of the $3.8 million research and development tax incentive recorded in other income for the year ended June 30, 2016, $1.1 million relates to a change in the original estimate of the research and development tax incentive income the Group estimated it would receive from the Australian Government for the year ended June 30, 2015.

Income tax benefit/(expense)

12 Months Ended

Jun. 30, 2018

Major Components Of Tax Expense Income [Abstract]

Income tax benefit/(expense)

4. Income tax benefit/(expense)

		Year Ended June 30,
	(in U.S. dollars, in thousands)	2018			2017			2016
(a)	Reconciliation of income tax to prima facie tax payable
	Loss from continuing operations before income tax		(65,977	)		(90,215	)		(90,821	)
	Tax benefit at the Australian tax rate of 30% (2017: 30%)		(19,793	)		(27,065	)		(27,246	)
	Tax effect of amounts which are not deductible/(exempt) in calculating taxable income:
	Share-based payments expense		1,544			1,488			884
	Research and development tax concessions		537			2,442			699
	Foreign exchange translation gains/(losses)		(242	)		—			—
	Contingent consideration		(3,162	)		39			(11,221	)
	Other sundry items		1,011			497			(1,873	)
	Current year tax expense/(benefit)		(20,105	)		(22,599	)		(38,757	)
	Adjustments for current tax of prior periods		(3,616	)		(5,870	)		(2,224	)
	Differences in overseas tax rates		5,259			7,797			9,192
	Tax benefit not recognized		11,065			7,272			5,851
	Change in tax rate on Deferred tax assets		27,471			—			—
	Change in tax rate on Deferred tax liability		(50,761	)		—			—
	Previously unrecognized tax losses now recouped to reduce deferred tax expense/(benefit)		—			—			(60,756	)
	Income tax expense/(benefit) attributable to loss before income tax		(30,687	)		(13,400	)		(86,694	)

		Year Ended June 30,
	(in U.S. dollars, in thousands)	2018			2017			2016
(b)	Income tax expense/(benefit)
	Current tax
	Current tax		—			—			—
	Total current tax expense/(benefit)		—			—			—

	Deferred tax
	(Increase)/decrease in deferred tax assets		20,183			(13,204	)		(65,022	)
	Decrease in deferred tax liabilities		(50,870	)		(196	)		(21,672	)
	Total deferred tax expense/(benefit)		(30,687	)		(13,400	)		(86,694	)
	Income tax expense/(benefit)		(30,687	)		(13,400	)		(86,694	)

Deferred tax assets have been brought to account only to the extent that it is foreseeable that they are recoverable against future tax liabilities.

Deferred tax assets are recognized for unused tax losses to the extent that it is probable that future taxable profit will be available against which the unused tax losses can be utilized. Deferred tax assets are offset against taxable temporary differences (deferred tax liabilities) when the deferred tax balances relate to the same tax jurisdiction in accordance with our accounting policy.

Deferred taxes are measured at the rate in which they are expected to settle within the respective jurisdictions, which can change based on factors such as new legislation or timing of utilization and reversal of associated assets and liabilities. On December 22, 2017, the United States signed into law the Tax Act, which changed many aspects of U.S. corporate income taxation, including a reduction in the corporate income tax rate from 35% to 21%. The Group recognized the tax effects of the Tax Act in the year ended June 30, 2018, the most significant of which was a tax benefit resulting from the remeasurement of deferred tax balances to 21%.

		Year Ended June 30,
	(in U.S. dollars, in thousands)	2018			2017			2016
(c)	Amounts that would be recognized directly in equity if brought to account
	Aggregate current and deferred tax arising in the reporting period and not recognized in net loss or other comprehensive income but which would have been directly applied to equity had it been brought to account:
	Current tax recorded in equity (if brought to account)		(1,059	)		(764	)		(148	)
	Deferred tax recorded in equity (if brought to account)		877			960			808
			(182	)		196			660

		Year Ended June 30,
	(in U.S. dollars, in thousands)	2018		2017		2016
(d)	Amounts recognized directly in equity
	Aggregate current and deferred tax arising in the reporting period and not recognized in net loss or other comprehensive income but debited/credited to equity
	Current tax recorded in equity		—		—		—
	Deferred tax recorded in equity		—		—		—

		As of June 30,
	(in U.S. dollars, in thousands)	2018		2017		2016
(e)	Deferred tax assets not brought to account
	Unused tax losses
	Potential tax benefit at local tax rates		41,501		34,896		27,060
	Other temporary differences
	Potential tax benefit at local tax rates		3,704		3,908		3,432
	Other tax credits
	Potential tax benefit at local tax rates		3,220		—		—
			48,425		38,804		30,492

As of June 30, 2018, 2017 and 2016, the Group has deferred tax assets not brought to account of $48.4 million, $38.8 million and $30.5 million, respectively. Deferred tax assets have been brought to account only to the extent that it is foreseeable that they are recoverable against future tax liabilities.

Financial assets and liabilities

12 Months Ended

Jun. 30, 2018

Disclosure Of Financial Assets And Liabilities [Abstract]

Financial assets and liabilities

5. Financial assets and liabilities

This note provides information about the Group's financial instruments, including:

•

an overview of all financial instruments held by the Group;

•

specific information about each type of financial instrument;

•

accounting policies; and

•

information used to determine the fair value of the instruments, including judgments and estimation uncertainty involved.

The Group holds the following financial instruments:

Financial assets (in U.S. dollars, in thousands)	Notes	Assets at FVOCI⁽¹⁾		Assets at FVTPL⁽²⁾		Assets at amortized cost		Total
As of June 30, 2018
Cash & cash equivalents	5(a)		—		—		37,763		37,763
Trade & other receivables	5(b)		—		—		50,366		50,366
Available-for-sale financial asset	5(c)		2,321		—		—		2,321
Other non-current assets	5(d)		—		—		3,361		3,361
			2,321		—		91,490		93,811
As of June 30, 2017
Cash & cash equivalents	5(a)		—		—		45,761		45,761
Trade & other receivables	5(b)		—		—		3,743		3,743
Available-for-sale financial asset	5(c)		1,997		—		—		1,997
Other non-current assets	5(d)		—		—		1,916		1,916
			1,997		—		51,420		53,417

(1)	Fair value through other comprehensive income

(2)	Fair value through profit or loss

Financial liabilities (in U.S. dollars, in thousands)	Notes	Liabilities at FVOCI⁽¹⁾		Liabilities at FVTPL⁽²⁾		Liabilities at amortized cost		Total
As of June 30, 2018
Trade and other payables	5(e)		—		—		18,921		18,921
Borrowings	5(f)		—		—		59,397		59,397
Contingent considerations	5(g)(iii)		—		42,070		—		42,070
			—		42,070		78,318		120,388
As of June 30, 2017
Trade and other payables	5(e)		—		—		21,805		21,805
Contingent considerations	5(g)(iii)		—		63,595		—		63,595
			—		63,595		21,805		85,400

(1)	Fair value through other comprehensive income

(2)	Fair value through profit or loss

The Group’s exposure to various risks associated with the financial instruments is discussed in Note 10. The maximum exposure to credit risk at the end of the reporting period is the carrying amount of each class of financial assets mentioned above.

a.	Cash and cash equivalents


	As of June 30,
(in U.S. dollars, in thousands)	2018		2017
Cash at bank		37,221		7,722
Deposits at call⁽¹⁾		542		38,039
		37,763		45,761

(1)	As of June 30, 2018 and June 30, 2017, interest-bearing deposits at call include amounts of $0.4 million and $0.5 million, respectively, held as security and are restricted for use.

(i)	Classification as cash equivalents

Term deposits are presented as cash equivalents if they have a maturity of three months or less from the date of acquisition.

b.	Trade and other receivables and prepayments

(i)	Trade receivables

	As of June 30,
(in U.S. dollars, in thousands)	2018		2017
Trade debtors		6,630		474
Funds receivable from debt financing and unissued capital⁽¹⁾		38,950		—
Income tax and tax incentives recoverable		3,305		1,631
Other receivables		615		698
Foreign withholding tax recoverable		471		471
Security deposit		250		250
Sundry debtors		81		120
Other recoverable taxes (Goods and services tax and value-added tax)		53		87
Interest receivables		11		12
Trade and other receivables		50,366		3,743

(1)

On July 2, 2018, the Group announced that the Group had entered into a financing agreement with NovaQuest on June 29, 2018 to develop and commercialize its allogeneic product candidate MSC-100-IV for pediatric patients with acute Graft versus Host Disease ("aGVHD”). The contractual terms of the agreement pertaining to the receipt of funds were binding and therefore the Group recognized a receivable of $39.0 million at June 30, 2018. On July 10, 2018 the net proceeds from the financing facility of $39.0 million were received and recognized in cash and cash equivalents.

(ii)	Prepayments

	As of June 30,
(in U.S. dollars, in thousands)	2018		2017
Clinical trial research and development expenditure		12,042		13,571
Other		759		340
Prepaid insurance and subscriptions		141		194
Prepayments		12,942		14,105

(iii) Classification as trade and other receivables

Interest receivables are amounts due at maturity of term deposits. All trade and other receivable balances are within their due dates and none are considered to be impaired as of June 30, 2018 and June 30, 2017.

(iv) Other receivables

These amounts generally arise from transactions outside the usual operating activities of the Group.

(v) Fair values of trade and other receivables

Due to the short-term nature of the current receivables, their carrying amount is assumed to be the same as their fair value.

(vi) Impairment and risk exposure

Information about the impairment of trade and other receivables, their credit quality and the Group’s exposure to credit risk, foreign currency risk and interest rate risk can be found in Note 10(a) and (b).

c.	Available-for-sale financial assets

Available-for-sale financial assets include the following classes of financial assets:

	As of June 30,
(in U.S. dollars, in thousands)	2018		2017
Unlisted securities:
Equity securities		2,321		1,997
		2,321		1,997

(i) Classification of financial assets as available-for-sale

Investments are designated as available-for-sale financial assets if they do not have fixed maturities and fixed or determinable payments, and management intends to hold them for the medium to long-term. Financial assets that are not classified into any of the other categories (at FVTPL, loans and receivables or held-to-maturity investments) are also included in the available-for-sale category.

The financial assets are presented as non-current assets unless they mature, or management intends to dispose of them within 12 months of the end of the reporting period.

(ii) Impairment indicators for available-for-sale financial assets

A security is considered to be impaired if there has been a significant or prolonged decline in the fair value below its cost. See Note 22(l)(v) for further details about the Group’s impairment policies for financial assets.

(iii) Amounts recognized in other comprehensive income

For the years ended June 30, 2018, 2017 and 2016, the Group recognized in statement of comprehensive income a gain of $0.3 million, a gain of $Nil and a loss of $0.3 million respectively, for change in fair value of the available-for-sale financial assets.

(iv) Fair value, impairment and risk exposure

Information about the methods and assumptions used in determining fair value is provided in Note 5(g). None of the available-for-sale financial assets are either past due or impaired.

All available-for-sale financial assets are denominated in USD.

d.	Other non-current assets

	As of June 30,
(in U.S. dollars, in thousands)	2018		2017
Bank Guarantee		710		738
Letter of Credit		1,178		1,178
U.S. Tax credits		1,473		—
		3,361		1,916

(i) Classification of financial assets as other non-current assets

Bank guarantee

These funds are held in an account named Mesoblast Limited at National Australia Bank according to the terms of a Bank Guarantee which is security for the sublease agreement for our occupancy of Level 38, 55 Collins Street, Melbourne, Victoria, Australia. The Bank Guarantee is security for the full and faithful performance and observance by the subtenant of the terms, covenants and conditions of the sublease. The Bank Guarantee continues in force until it is released by the lessor.

Letter of credit

These funds held in an account named Mesoblast, Inc. at the Bank of America according to the terms of an irrevocable standby letter of credit which is security for the sublease agreement for our occupancy of 505 Fifth Avenue, New York, New York, United States of America. The letter of credit is security for the full and faithful performance and observance by the subtenant of the terms, covenants and conditions of the sublease. The letter of credit is deemed to automatically extend without amendment for a period of one year at each anniversary but will not automatically extend beyond the final expiration of July 31, 2021.

U.S. Tax credits

These funds are receivable from the Internal Revenue Service (“IRS”) as a result of the changes in the U.S. corporate income tax legislation with the Tax Act which was signed into law in December 2017. Tax credits arising from the Alternative Minimum Tax (“AMT”) regime have become refundable in 2021.

(ii) Impairment and risk exposure

No other non-current assets are either past due or impaired.

e.	Trade and other payables

	As of June 30,
(in U.S. dollars, in thousands)	2018		2017
Trade payables and other payables		18,921		21,805
Trade and other payables		18,921		21,805

The carrying amounts of trade and other payables are assumed to be the same as their fair values, due to their short-term nature.

f.Borrowings

	As of June 30,
(in U.S. dollars, in thousands)	2018			2017
Current
Secured liabilities:
Borrowing arrangements		—			—
		—			—

Non-current
Secured liabilities:
Borrowing arrangements		65,000			—
Less: transaction costs		(6,328	)		—
Amortization of transaction costs		725			—
		59,397			—

(i) Borrowing arrangements

Hercules Capital, Inc.

On March 6, 2018, the Group drew the first tranche of $35.0 million of the principal amount from the $75.0 million 9.45% floating rate loan with Hercules. An additional $40.0 million may be drawn as certain milestones are met. The loan matures in March 2022 with principal repayments commencing in October 2019 with the ability to defer the commencement of principal repayments up to October 2020 if certain milestones are met. Interest on the loan is payable monthly in arrears on the 1^st day of the month. At closing date, the interest rate was 9.45%. On March 22, 2018 and June 14, 2018, in line with the increases in the U.S. prime rate, the interest rate on the loan increased to 9.70% and 9.95%, respectively.

The carrying amount of the non-current loan is secured by a first charge over the assets of the Group, excluding $0.7 million of bank guarantees and $1.2 million of letters of credit included in other non-current assets (refer to Note 5(d)), $0.5 million of interest-bearing deposits at call included in cash and cash equivalents (refer to Note 5(a)) and $0.2 million of cash held as security included in trade and other receivables (refer to Note 5(b)). These items have been used to secure liabilities other than the non-current loan.

NovaQuest Capital Management, L.L.C.

On June 29, 2018, we drew the first tranche of $30.0 million of the principal amount from the $40.0 million secured loan with NovaQuest. There is a four-year interest only period, until July 2022, with the principal repayable in equal quarterly instalments over the remaining period of the loan. The loan matures in July 2026. Interest on the loan will accrue at a fixed rate of 15% per annum.

All interest and principal payments will be deferred until after the first commercial sale of our allogeneic product candidate MSC-100-IV in pediatric patients with steroid refractory aGVHD, in the United States and other geographies excluding Asia (“pediatric aGVHD”). We can elect to prepay all outstanding amounts owing at any time prior to maturity, subject to a prepayment charge, and may decide to do so if net sales of pediatric aGVHD are significantly higher than current forecasts.

If there are no net sales of pediatric aGVHD, the loan is only repayable on maturity in 2026. If in any annual period 25% of net sales of pediatric aGVHD exceed the amount of accrued interest owing and, from 2022, principal and accrued interest owing (“the payment cap”), Mesoblast will pay the payment cap and an additional portion of excess sales which may be used for early prepayment of the loan. If in any annual period 25% of net sales of pediatric aGVHD is less than the payment cap, then the payment is limited to 25% of net sales of pediatric aGVHD. Any unpaid interest will be added to the principal amounts owing and shall accrue further interest. At maturity date, any unpaid loan balances are repaid.

Because of this relationship of net sales and repayments, changes in our estimated net sales may trigger an adjustment of the carrying amount of the financial liability to reflect the revised estimated cash flows. The carrying amount adjustment is recalculated by computing the present value of the revised estimated future cash flows at the financial instrument’s original effective interest rate. The adjustment is recognized in the Income Statement in the period the revision is made.

The carrying amount of the loan is subordinated to the senior creditor, Hercules.

(ii) Compliance with loan covenants

The Group has complied with the financial covenants of its borrowing facilities during the year ended June 30, 2018. There were no borrowings during the year ended June 30, 2017.

(iii) Net debt reconciliation

(in U.S. dollars, in thousands)	Current borrowings		Non-current borrowings			Total
As of June 30, 2017		—		—			—
Changes from financing cash flows
Proceeds from debt		—		31,704			31,704
Payment of transaction costs		—		(392	)		(392	)
Repayment of loans		—		—			—
Movement in short-term borrowings		—		—			—
Total changes in liabilities arising on financing cash flows		—		31,312			31,312
Non-cash changes
Funds receivable from debt financing		—		28,950			28,950
Accrued transaction costs		—		(1,590	)		(1,590	)
Amortization of transaction costs		—		725			725
As of June 30, 2018		—		59,397			59,397

(iv) Fair values of borrowing arrangements

The carrying amount of the borrowings at amortized cost in accordance with our accounting policy is a reasonable approximation of fair value.

g.Recognized fair value measurements

(i) Fair value hierarchy

The following table presents the Group's financial assets and financial liabilities measured and recognized at fair value as of June 30, 2018 and June 30, 2017 on a recurring basis, categorized by level according to the significance of the inputs used in making the measurements:

As of June 30, 2017
(in U.S. dollars, in thousands)	Notes	Level 1		Level 2		Level 3		Total
Financial Assets
Available-for-sale financial assets:
Equity securities - biotech sector	5(c)		—		—		1,997		1,997
Total Financial Assets			—		—		1,997		1,997

Financial Liabilities
Financial liabilities at fair value through profit or loss:
Contingent consideration	6(d)		—		—		63,595		63,595
Total Financial Liabilities			—		—		63,595		63,595

As of June 30, 2018
(in U.S. dollars, in thousands)	Notes	Level 1		Level 2		Level 3		Total
Financial Assets
Available-for-sale financial assets:
Equity securities - biotech sector	5(c)		—		—		2,321		2,321
Total Financial Assets			—		—		2,321		2,321

Financial Liabilities
Financial liabilities at fair value through profit or loss:
Contingent consideration	6(d)		—		—		42,070		42,070
Total Financial Liabilities			—		—		42,070		42,070

There were no transfers between any of the levels for recurring fair value measurements during the period.

The Group’s policy is to recognize transfers into and transfers out of fair value hierarchy levels as at the end of the reporting period.

Level 1: The fair value of financial instruments traded in active markets (such as publicly traded derivatives, and trading and available-for-sale securities) is based on quoted market prices at the end of the reporting period. The quoted market price used for financial assets held by the Group is the current bid price. These instruments are included in level 1.

Level 2: The fair value of financial instruments that are not traded in an active market (for example, foreign exchange contracts) is determined using valuation techniques which maximize the use of observable market data and rely as little as possible on entity-specific estimates. If all significant inputs required to fair value an instrument are observable, the instrument is included in level 2.

Level 3: If one or more of the significant inputs is not based on observable market data, the instrument is included in level 3. This is the case for provisions (contingent consideration) and equity securities (unlisted).

(ii) Valuation techniques used.

The Group used the discounted cash flow analysis to determine the fair value measurements of level 3 instruments.

(iii) Fair value measurements using significant unobservable inputs (level 3)

The following table presents the changes in level 3 instruments for the years ended June 30, 2018 and June 30, 2017:

(in U.S. dollars, in thousands)	Contingent consideration provision
Opening balance - July 1, 2016		63,716
Amount used during the year		(251	)
Charged/(credited) to consolidated income statement:
Remeasurement⁽¹⁾		130
Closing balance - June 30, 2017		63,595

Opening balance - July 1, 2017		63,595
Amount used during the year		(10,984	)
Charged/(credited) to consolidated income statement:
Remeasurement⁽²⁾		(10,541	)
Closing balance - June 30, 2018		42,070

(1)

In the year ended June 30, 2017 a loss of $0.1 million was recognized on the remeasurement of contingent consideration pertaining to the acquisition of assets from Osiris. This loss is a net result of changes to the key assumptions of the contingent consideration valuation such as developmental timelines, probability of success, market penetration, market population and the increase in valuation as the time period shortens between the valuation date and the potential settlement dates of contingent consideration.

(2)

In the year ended June 30, 2018 a gain of $10.5 million was recognized on the remeasurement of contingent consideration pertaining to the acquisition of assets from Osiris. This gain is a net result of changes to the key assumptions of the contingent consideration valuation such as developmental timelines, product pricing, market population, market penetration and the increase in valuation as the time period shortens between the valuation date and the potential settlement dates of contingent consideration.

(iv) Valuation inputs and relationship to fair value

The following table summarizes the quantitative information about the significant unobservable inputs used in level 3 fair value measurements:

Range of inputs

(weighted average)

(in U.S. dollars, in thousands, except percent data)

Fair value as of

June 30,

Valuation

Unobservable

Year Ended

June 30,

Relationship of

unobservable inputs to

Description

2018

2017

technique

inputs⁽¹⁾

2018

2017

fair value

Contingent consideration provision

42,070

63,595

Discounted cash flows

Risk adjusted

discount rate

11%-13%

(12.5%)

11%-13%

(12.5%)

Year ended June 30, 2018: A change in the discount rate by 0.5% would increase/decrease the fair value by 1%.

Year ended June 30, 2017: A change in the discount rate by 0.5% would increase/decrease the fair value by 1%.

Expected unit

revenues

n/a

Year ended June 30, 2018: A 10% increase/decrease in the price assumptions adopted would increase/decrease the fair value by 4%.

Year ended June 30, 2017: A 10% increase/decrease in the price assumptions adopted would increase/decrease the fair value by 5%.

Expected sales volumes

n/a

Year ended June 30, 2018: A 10% increase/decrease in sales volume assumptions adopted would increase/decrease the fair value by 4%.

Year ended June 30, 2017: A 10% increase/decrease in sales volume assumptions adopted would increase/decrease the fair value by 5%.

(1)	There were no significant inter-relationships between unobservable inputs that materially affect fair values.

(v) Valuation processes

In connection with the Osiris acquisition, on October 11, 2013 (the “acquisition date”), an independent valuation of the contingent consideration was carried out by an independent valuer.

For the years ended June 30, 2018 and 2017, the Group has adopted a process to value contingent consideration internally. This valuation has been completed by the Group’s internal valuation team and reviewed by the Chief Financial Officer (the "CFO"). The valuation team is responsible for the valuation model. The valuation team also manages a process to continually refine the key assumptions within the model. This is done with input from the relevant business units. The key assumptions in the model have been clearly defined and the responsibility for refining those assumptions has been assigned to the most relevant business units. The remeasurement charged to the consolidated income statement was a net result of changes to key assumptions such as developmental timelines, product pricing, market population, market penetration, probability of success and the increase in valuation as the time period shortens between the valuation date and the potential settlement dates of contingent consideration.

The fair value of contingent consideration	As of June 30,
(in U.S. dollars, in thousands)	2018		2017
Fair value of cash or stock payable, dependent on achievement of future late-stage clinical or regulatory targets		23,674		34,501
Fair value of royalty payments from commercialization of the intellectual property acquired		18,396		29,094
		42,070		63,595

The main level 3 inputs used by the Group are evaluated as follows:

Risk adjusted discount rate:

The discount rate used in the valuation has been determined based on required rates of returns of listed companies in the biotechnology industry (having regards to their stage of development, their size and number of projects) and the indicative rates of return required by suppliers of venture capital for investments with similar technical and commercial risks. This assumption is reviewed as part of the valuation process outlined above.

Expected unit revenues:

Expected market sale price of the most comparable products currently available in the market place. This assumption is reviewed as part of the valuation process outlined above.

Expected sales volumes: Expected sales volumes of the most comparable products currently available in the market place. This assumption is reviewed as part of the valuation process outlined above.

Non-financial Assets and Liabilities

12 Months Ended

Jun. 30, 2018

Disclosure Of Non Financial Assets And Liabilities [Abstract]

Non-financial Assets and Liabilities

6. Non-financial assets and liabilities

a.	Property, plant and equipment

(in U.S. dollars, in thousands)	Plant and Equipment			Office Furniture and Equipment			Computer Hardware and Software			Total
Year Ended June 30, 2017
Opening net book amount		1,752			706			605			3,063
Additions		17			—			296			313
Exchange differences		31			(25	)		13			19
Disposals		—			—			(3	)		(3	)
Depreciation charge		(1,049	)		(134	)		(395	)		(1,578	)
Closing net book value		751			547			516			1,814

As of June 30, 2017
Cost		4,139			1,255			3,105			8,499
Accumulated depreciation		(3,388	)		(708	)		(2,589	)		(6,685	)
Net book value		751			547			516			1,814

Year ended June 30, 2018
Opening net book amount		751			547			516			1,814
Additions		16			2			176			194
Exchange differences		(1	)		(1	)		(12	)		(14	)
Disposals		—			—			(1	)		(1	)
Depreciation charge		(460	)		(134	)		(315	)		(909	)
Closing net book value		306			414			364			1,084

As of June 30, 2018
Cost		4,152			1,249			3,199			8,600
Accumulated depreciation		(3,846	)		(835	)		(2,835	)		(7,516	)
Net book value		306			414			364			1,084

(i) Depreciation methods and useful lives

Depreciation is calculated using the straight-line method to allocate their cost or revalued amounts, net of their residual values, over the estimated useful lives. The estimated useful lives are:

•

Plant and equipment 3 – 15 years

•

Office furniture and equipment 3 – 10 years

•

Computer hardware and software 3 – 4 years

See Note 22(n) for other accounting policies relevant to property, plant and equipment.

b.	Intangible assets

(in U.S. dollars, in thousands)	Goodwill		Acquired licenses to patents			In-process research and development acquired			Current marketed products			Total
Year Ended June 30, 2017
Opening net book value		134,453		2,036			427,779			23,555			587,823
Exchange differences		—		6			—			—			6
Amortization charge		—		(144	)		—			(1,335	)		(1,479	)
Closing net book value		134,453		1,898			427,779			22,220			586,350

As of June 30, 2017
Cost		134,453		2,770			489,698			23,999			650,920
Accumulated amortization		—		(872	)		—			(1,779	)		(2,651	)
Accumulated impairment		—		—			(61,919	)		—			(61,919	)
Net book amount		134,453		1,898			427,779			22,220			586,350


Year Ended June 30, 2018
Opening net book value		134,453		1,898			427,779			22,220			586,350
Exchange differences		—		(3	)		—			—			(3	)
Amortization charge		—		(125	)		—			(1,616	)		(1,741	)
Closing net book value		134,453		1,770			427,779			20,604			584,606

As of June 30, 2018
Cost		134,453		2,749			489,698			23,999			650,899
Accumulated amortization		—		(979	)		—			(3,395	)		(4,374	)
Accumulated impairment		—		—			(61,919	)		—			(61,919	)
Net book amount		134,453		1,770			427,779			20,604			584,606

(i) Carrying value of in-process research and development acquired by product

	As of June 30,
(in U.S. dollars, in thousands)	2018		2017
Cardiovascular products		254,351		254,351
Intravenous products for metabolic diseases and inflammatory/immunologic conditions		70,730		70,730
Osiris MSC products		102,698		102,698
		427,779		427,779

For all products included within the above balances, the underlying currency of each item recorded is USD.

(ii) Amortization methods and useful lives

The Group amortizes intangible assets with a finite useful life using the straight-line method over the following periods:

•

Acquired licenses to patents 7 – 16 years

•

Current marketed products 15 – 20 years

See Note 22(o) for the other accounting policies relevant to intangible assets and Note 22(i) for the Group’s policy regarding impairments.

(iii) Significant estimate: Impairment of goodwill and assets with an indefinite useful life

The Group tests annually whether goodwill and its assets with indefinite useful lives have suffered any impairment in accordance with its accounting policy stated in Note 22(i). The recoverable amounts of these assets and cash-generating units have been determined based on fair value less costs to dispose calculations, which require the use of certain assumptions.

(iv) Impairment tests for goodwill and intangible assets with and indefinite useful life

In-process research and development acquired is considered to be an indefinite life intangible asset on the basis that it is incomplete and cannot be used in its current form (see Note 22(o)(iii)). The intangible asset’s life will remain indefinite until such time it is completed and commercialized or impaired. The carrying value of in-process research and development is a separate asset which has been subject to impairment testing at the cash generating unit level, which has been determined to be at the product level.

On acquisition, goodwill was not able to be allocated to the cash generating unit (“CGU”) level or to a group of CGU given the synergies of the underlying research and development. For the purpose of impairment testing, goodwill is monitored by management at the operating segment level. The Group is managed as one operating segment, being the development of adult stem cell technology platform for commercialization. The carrying value of goodwill has been allocated to the appropriate operating segment for the purpose of impairment testing.

The recoverable amount of both goodwill and in-process research and development was assessed as of June 30, 2018 based on the fair value less costs to dispose.

(v) Key assumptions used for fair value less costs to dispose calculations

In determining the fair value less costs to dispose we have given consideration to the following internal and external indicators:

•

discounted expected future cash flows of programs valued by the Group’s internal valuation team and reviewed by the CFO. The valuation team is responsible for the valuation model. The valuation team also manages a process to continually refine the key assumptions within the model. This is done with input from the relevant business units. The key assumptions in the model have been clearly defined and the responsibility for refining those assumptions has been assigned to the most relevant business units. When determining key assumptions, the business units refer to both external sources and past experience as appropriate. The valuation is considered to be level 3 in the fair value hierarchy due to unobservable inputs used in the valuation;

•

the scientific results and progress of the trials since acquisition;

•

the valuation of the Group that was applicable to the July 10, 2018 equity placement undertaken with NovaQuest through issuing of the Group’s securities on the ASX;

•

the valuation of the Group that was applicable to the January 6, 2017 equity placement undertaken with Mallinckrodt Pharmaceuticals (NYSE: MNK) through issuing of the Group’s securities on the ASX;

•

the valuation of the Group that was applicable to the March 31, 2017 equity placement undertaken with institutional investors through issuing of the Group’s securities on the ASX;

•

the market capitalization of the Group on the ASX (ASX:MSB) on the impairment testing date of June 30, 2018; and

•

the valuation of the Group’s assets from an independent valuation as of June 30, 2017.

Costs of disposal were assumed to be immaterial at June 30, 2018.

Discounted cash-flows used a real pre-tax discount rate range of 14.4% to 21.0%, and include estimated real cash inflows and outflows for each program through to patent expiry, at which point a terminal value is assigned to the program.

In relation to cash outflows consideration has been given to cost of goods sold, selling costs and clinical trial schedules including estimates of numbers of patients and per patient costs. Associated expenses such as regulatory fees and patent maintenance have been included as well as any further preclinical development if applicable.

The assessment of goodwill showed the recoverable amount of the Group’s operating segment, including goodwill and remaining in-process research and development, exceeds the carrying amounts, and therefore there is no impairment. Additionally the recoverable amount of remaining in-process research and development also exceeds the carrying amounts, and therefore there is no impairment.

There are no standard growth rates applied, other than our estimates of market penetration which increase initially, plateau and then decline.

The assessment of the recoverable amount of each product has been made in accordance with the discounted cash-flow assumptions outlined above. The assessment showed that the recoverable amount of each product exceeds the carrying amount and therefore there is no impairment.

(vi) Impact of possible changes in key assumptions

The Group has considered and assessed reasonably possible changes in the key assumptions and has not identified any instances that could cause the carrying amount of our intangible assets at June 30, 2018 to exceed its recoverable amount.

Whilst there is no impairment, the key sensitivities in the valuation remain the continued successful development of our technology platform.

c.	Provisions

	As of						As of
	June 30, 2018						June 30, 2017
(in U.S. dollars, in thousands)	Current		Non-current		Total		Current		Non-current		Total
Contingent consideration		724		41,346		42,070		11,054		52,541		63,595
Employee benefits		4,358		101		4,459		3,811		416		4,227
Provision for license agreements		—		1,509		1,509		—		—		—
		5,082		42,956		48,038		14,865		52,957		67,822

(i) Information about individual provisions and significant estimates

Contingent consideration

The contingent consideration provision relates to the Group’s liability for certain milestones and royalty achievements pertaining to the acquired MSC assets from Osiris. Further disclosures can be found in Note 5(g)(iii).

Employee benefits

The provision for employee benefits relates to the Group’s liability for annual leave, short term incentives and long service leave.

Employee benefits include accrued annual leave. As of June 30, 2018 and 2017, the entire amount of the accrual was $0.7 million and $0.7 million respectively, and is presented as current, since the Group does not have an unconditional right to defer settlement for any of these obligations. However, based on past experience, the Group expects all employees to take the full amount of the accrued leave or require payment within the next 12 months.

(ii) Movements

The contingent consideration provision relates to the Group’s liability for certain milestones and royalty achievements. Refer to Note 5(g)(iii) for movements in contingent consideration for the years ended June 30, 2018 and 2017.

d.	Deferred tax balances

(i) Deferred tax balances

	As of June 30,
(in U.S. dollars, in thousands)	2018		2017
Deferred tax assets
The balance comprises temporary differences attributable to:
Tax losses		55,904		74,660
Other temporary differences		669		3,566
Total deferred tax assets		56,573		78,226

Deferred tax liabilities
The balance comprises temporary differences attributable to:
Intangible assets		76,652		127,519
Total deferred tax liabilities		76,652		127,519
Net deferred tax liabilities		20,079		49,293

Deferred tax assets expected to be settled within 12 months		—		—
Deferred tax assets expected to be settled after 12 months		56,573		78,226

Deferred tax liabilities expected to be settled within 12 months		147		147
Deferred tax liabilities expected to be settled after 12 months		76,505		127,372

(ii) Movements

(in U.S. dollars, in thousands)	Tax losses⁽¹⁾ (DTA)			Other temporary differences⁽¹⁾ (DTA)			Intangible assets (DTL)			Total (DTL)
As of June 30, 2016		(57,650	)		(7,372	)		127,715			62,693
Charged/(credited) to:
- profit or loss		(17,010	)		3,806			(196	)		(13,400	)
As of June 30, 2017		(74,660	)		(3,566	)		127,519			49,293
Reclassifications		1,473			—			—			1,473
Charged/(credited) to:
- profit or loss		17,283			2,897			(50,867	)		(30,687	)
As of June 30, 2018		(55,904	)		(669	)		76,652			20,079

(1)	Deferred tax assets are netted against deferred tax liabilities.

Equity

12 Months Ended

Jun. 30, 2018

Disclosure Of Classes Of Share Capital [Abstract]

Equity

7. Equity

a.	Contributed equity

(i) Share capital

	As of June 30,
	2018			2017			2016			2018		2017		2016
	Shares No.									(U.S. dollars, in thousands)
Contributed equity
(i) Share capital
Ordinary shares⁽¹⁾		482,639,654			428,221,398			381,373,137			889,481		830,425		770,272
Less: Treasury Shares		(3,500,000	)		(3,500,000	)		(3,500,000	)		—		—		—
Total Contributed Equity		479,139,654			424,721,398			377,873,137			889,481		830,425		770,272

(1)	As of June 30, 2018, total ordinary shares include 2,000,000 unpaid shares issued to Kentgrove Capital on January 19, 2018.

(ii) Movements in ordinary share capital

	As of June 30,						As of June 30,
	2018		2017		2016		2018			2017			2016
	Shares No.						(U.S. dollars, in thousands)
Opening balance		428,221,398		381,373,137		336,997,729		830,425			770,272			709,191
Issues of ordinary shares during the period
Exercise of share options⁽¹⁾		289,245		272,579		422,903		116			149			268
Share issue for Nasdaq IPO		—		—		42,675,295		—			—			68,280
Consideration for available-for-sale financial assets		—		—		1,277,210		—			—			1,495
Share based compensation for services rendered		540,051		280,911		—		662			240			—
Payment for contingent consideration		6,029,545		—		—		10,000			—			—
Entitlement offer to existing eligible shareholders		36,191,982		—		—		40,449			—			—
Placement of shares under an equity facility agreement⁽²⁾		2,000,000		—		—		—			—			—
Placement of shares under a share placement agreement		—		46,294,771		—		—			61,710			—
Placement of shares under a license agreement		892,857		—		—		1,000			—			—
Transaction costs arising on share issue								(2,869	)		(1,959	)		(9,096	)
		45,943,680		46,848,261		44,375,408		49,358			60,140			60,947
Unissued ordinary shares during the period
Placement of shares under a share placement agreement⁽³⁾		8,474,576		—		—		10,000			—			—
Transaction costs arising on share issue								(340	)		—			—
		8,474,576		—		—		9,660			—			—
Total contributions of equity during the period		54,418,256		46,848,261		44,375,408		59,018			60,140			60,947
Share options reserve transferred to equity on exercise of options								38			13			134
Ending balance		482,639,654		428,221,398		381,373,137		889,481			830,425			770,272

(1)	Options are issued to employees, directors and consultants in accordance with the Mesoblast Employee Share Options Plan (“ESOP”). The shares issued and share capital received upon the exercise of options are recorded above.

(2)	These shares were issued to Kentgrove Capital on January 19, 2018 in accordance with contractual obligations to maintain Mesoblast’s existing established equity facility.

(3)	These shares were issued to NovaQuest on July 10, 2018, under a placement agreement entered into prior to June 30, 2018 pursuant to which NovaQuest purchased US$10.0 million of Mesoblast common shares.

(iii) Ordinary shares

Ordinary shares participate in dividends and the proceeds on winding up of the Group in equal proportion to the number of shares held. At shareholders meetings each ordinary share is entitled to one vote when a poll is called, otherwise each shareholder has one vote on a show of hands. Ordinary shares have no par value and the Company does not have a limited amount of authorized capital.

(iv) Employee share options

Information relating to the Group’s employee share option plan, including details of shares issued under the scheme, is set out in Note 17.

Reserves

(i) Reserves

	As at June 30,
(in U.S. dollars, in thousands)	2018			2017
Share-based payments reserve		75,974			69,919
Investment revaluation reserve		21			(303	)
Foreign currency translation reserve		(39,276	)		(38,373	)
		36,719			31,243

(ii) Reconciliation of reserves

(in U.S. dollars, in thousands)	As at June 30,
Share-based payments reserve	2018			2017
Opening balance		69,919			64,999
Transfer to ordinary shares on exercise of options		(38	)		(13	)
Share option expense for the year		5,959			5,036
Reclassification of modified options to/(from) liability		134			(103	)
Closing Balance		75,974			69,919

Investment Revaluation Reserve
Opening balance		(303	)		(334	)
Changes in the fair value of available-for-sale financial assets		324			31
Closing Balance		21			(303	)

Foreign currency translation reserve
Opening balance		(38,373	)		(38,689	)
Currency (loss)/gain on translation of foreign operations net assets		(903	)		316
Closing Balance		(39,276	)		(38,373	)

(iii) Nature and purpose of reserves

Share-based payment reserve

The share-based payments reserve is used to recognize:

•

the fair value⁽¹⁾ of options issued but not exercised; and

•

the fair value⁽¹⁾ of deferred shares granted but not yet vested.

(1)	The fair value recognized is determined at the acceptance date, which is the date at which the entity and the employee agree to a share-based payment arrangement, being when the entity and the employee have a shared understanding of the terms and conditions of the arrangement.

Foreign currency translation reserve

Exchange differences arising on translation of a foreign controlled entity are recognized in other comprehensive income and accumulated in a separate reserve within equity. The cumulative amount is reclassified to profit or loss when the net investment is disposed of.

Cash flow information

12 Months Ended

Jun. 30, 2018

Statement Of Cash Flows [Abstract]

Cash flow information

8. Cash flow information

(in U.S. dollars, in thousands)	As of June 30,
(a) Reconciliation of cash and cash equivalents	2018		2017		2016
Cash at bank		37,221		7,722		21,860
Deposits at call		542		38,039		59,077
		37,763		45,761		80,937

(in U.S. dollars, in thousands)	Year Ended June 30,
(b) Reconciliation of net cash flows used in operations with loss after income tax	2018			2017			2016
Loss for the period		(35,290	)		(76,815	)		(4,127	)
Add/(deduct) net loss for non-cash items as follows:
Depreciation and amortization		2,650			3,057			2,192
Foreign exchange (gains)/losses		(160	)		38			1,090
Finance costs		725			—			—
Remeasurement of contingent consideration		(10,541	)		130			(28,112	)
Payment under a license agreement paid in shares		1,000			—			—
Equity settled share-based payment		6,199			5,276			3,389
Deferred tax benefit		(30,664	)		(13,400	)		(86,694	)
Impairment of intangible assets		—			—			61,919
Commercialization revenue		—			—			(37,509	)
Change in operating assets and liabilities:
(Increase)/decrease in trade and other receivables		(6,093	)		(859	)		(531	)
Decrease/(increase) in prepayments		1,503			(10,201	)		495
(Increase)/decrease in tax assets		(1,807	)		1,282			626
(Decrease)/increase in trade creditors and accruals		(4,464	)		(5,740	)		2,425
(Decrease)/increase in provisions		1,930			1,761			(3,159	)
Net cash outflows used in operations		(75,012	)		(95,471	)		(87,996	)

Significant estimates, judgments and errors

12 Months Ended

Jun. 30, 2018

Disclosure Of Significant Estimates Judgments And Errors [Abstract]

Significant estimates, judgments and errors

9. Significant estimates, judgments and errors

The preparation of financial statements requires the use of accounting estimates which, by definition, will seldom equal the actual results. Management also needs to exercise judgment in applying the Group’s accounting policies.

This note provides an overview of the areas that involved a higher degree of judgment or complexity, and of items which are more likely to be materially adjusted due to estimates and assumptions turning out to be wrong. Detailed information about each of these estimates and judgments is included in Notes 1 to 8 together with information about the basis of calculation for each affected line item in the financial statements. In addition, this note also explains where there have been actual adjustments this year as a result of an error and of changes to previous estimates.

Significant estimates and judgments

The areas involving significant estimates or judgments are:

•

recognition of revenue (Note 3);

•

fair value of contingent liabilities and contingent purchase consideration in a business combination (Note 5(g) and 12);

•

fair value of goodwill and other intangible assets including in-process research and development (Note 6(b));

•

useful life of intangible assets (Note 6(b));

•

recognition of deferred tax assets and deferred tax liabilities (Note 4(b));

•

accrued research and development and manufacturing commercialization expenses (Note 5(e)); and

•

fair value of share-based payments (Note 17).

Estimates and judgments are continually evaluated. They are based on historical experience and other factors, including expectations of future events that may have a financial impact on the entity and that are believed to be reasonable under the circumstances.

Financial Risk Management

12 Months Ended

Jun. 30, 2018

Disclosure Of Financial Risk Management [Abstract]

Financial Risk Management

10. Financial risk management

This note explains the Group’s exposure to financial risks and how these risks could affect the Group’s future financial performance. Current year profit and loss information has been included where relevant to add further context.

Risk	Exposure arising from	Measurement	Management
Market risk – currency risk	Future commercial transactions Recognized financial assets and liabilities not denominated in the functional currency of each entity within the Group	Cash flow forecasting Sensitivity analysis	The future cash flows of each currency are forecast and the quantum of cash reserves held for each currency are managed in line with future forecasted requirements. Cross currency swaps are undertaken as required.

Market risk – interest rate risk	Long-term borrowings at floating rates	Sensitivity analysis	The facility can be refinanced and/or repaid. Interest rate swaps can be entered into to convert the floating interest rate to a fixed interest rate as required.

	Term deposits at fixed rates	Sensitivity analysis	Vary length of term deposits.

Market risk – price risk	Long-term borrowings	Sensitivity analysis	Forecasts of net sales of the product underlying the NovaQuest borrowing arrangement are updated on a quarterly basis to evaluate the impact on the carrying amount of the financial liability.

Credit risk	Cash and cash equivalents, and trade and other receivables	Aging analysis Credit ratings	Only transact with the best risk rated banks available in each region giving consideration to the products required.

Liquidity risk	Cash and cash equivalents Borrowings	Rolling cash flow forecasts	Future cash flows requirements are forecasted and capital raising strategies are planned to ensure sufficient cash balances are maintained to meet the Group’s future commitments.

a.	Market risk

(i) Currency risk

The Group has foreign currency amounts owing primarily in USD in Mesoblast Limited (AUD functional currency) relating to clinical, regulatory and overhead activities as well as Euro deposits and Euro receivables held in the Swiss and Singapore entities, respectively (USD functional currency) primarily relating to revenue recognized from its patent license agreement with Takeda entered into in December 2017. The Group also has foreign currency amounts owing in various other non-USD currencies in USD functional currency entities in the Group relating to clinical, regulatory and overhead activities. These foreign currency balances give rise to a currency risk, which is the risk of the exchange rate moving, in either direction, and the impact it may have on the Group’s financial performance.

Currency risk is minimized by ensuring the proportion of cash reserves held in each currency matches the expected rate of spend of each currency.

As of June 30, 2018, the Group held 92% of its cash in USD, and 8% in AUD. As of June 30, 2017 the Group held 95% of its cash in USD, and 5% in AUD.

The balances held at the end of the year that give rise to currency risk exposure are presented in USD in the following table, together with a sensitivity analysis which assesses the impact that a change of +/-20% in the exchange rate as of June 30, 2018 and June 30, 2017 would have had on the Group’s reported net profits/(losses) and/or equity balance.

		+20%			-20%
(in U.S. dollars, in thousands) As of June 30, 2018	Foreign currency balance held	Profit/(Loss) USD			Profit/(Loss) USD
Bank accounts - USD	USD 81	$	(14	)	$	20
Bank accounts - CHF	CHF 157	$	31		$	(31	)
Bank accounts - SGD	SGD 178	$	49		$	(49	)
Bank accounts - EUR	EUR 2	$	0		$	(0	)
Trade and other receivables - SGD	SGD 29	$	8		$	(8	)
Trade and other receivables - USD	USD 10,000	$	(1,667	)	$	2,500
Trade and other receivables - CHF	CHF 6	$	1		$	(1	)
Trade and other receivables - EUR	EUR 4,750	$	815		$	(815	)
Trade payables and accruals - USD	(USD 1,797)	$	300		$	(449	)
Trade payables and accruals - AUD	(AUD 446)	$	(121	)	$	121
Trade payables and accruals - SGD	(SGD 176)	$	(48	)	$	48
Trade payables and accruals - GBP	(GBP 52)	$	(0	)	$	(2	)
Trade payables and accruals - EUR	(EUR 1)	$	(0	)	$	0
Trade payables and accruals - CHF	(CHF 50)	$	(10	)	$	10
Trade payables and accruals - SEK	(SEK 118)	$	2		$	(3	)
Provisions - SGD	(SGD 74)	$	(20	)	$	20
Provisions - CHF	(CHF 2)	$	(0	)	$	0
		$	(674	)	$	1,361

		+20%			-20%
(in U.S. dollars, in thousands) As of June 30, 2017	Foreign currency balance held	Profit/(Loss) USD			Profit/(Loss) USD
Bank accounts - USD	USD 447	$	(74	)	$	112
Bank accounts - CHF	CHF 183	$	35		$	(35	)
Bank accounts - SGD	SGD 325	$	90		$	(90	)
Trade and other receivables - SGD	SGD 48	$	13		$	(13	)
Trade and other receivables - USD	USD 40	$	(7	)	$	10
Trade and other receivables - CHF	CHF 1	$	0		$	(0	)
Trade payables and accruals - USD	(USD 2,016)	$	336		$	(504	)
Trade payables and accruals - AUD	(AUD 441)	$	(115	)	$	115
Trade payables and accruals - SGD	(SGD 197)	$	(54	)	$	54
Trade payables and accruals - EUR	(EUR 42)	$	(7	)	$	7
Trade payables and accruals - CHF	(CHF 19)	$	(4	)	$	4
Provisions - SGD	(SGD 65)	$	(18	)	$	18
		$	195		$	(322	)

(ii) Cash flow and fair value interest rate risk

The Group’s main interest rate risk arises from long-term borrowings with a floating interest rate under our loan facility with Hercules, which exposes the Group to cash flow interest rate risk. As interest rates fluctuate, the amount of interest payable on financing where the interest rate is not fixed will also fluctuate. This interest rate risk can be managed by interest rate swaps which can be entered into to convert the floating interest rate to a fixed interest rate as required. Additionally, the Group can repay its loan facility at its discretion and can also refinance if the terms are suitable in the marketplace or from the existing lender.

The Group did not enter into any interest rate swaps during the year ended June 30, 2018.

The exposure of the Group’s borrowing to interest rate changes are as follows:

	As of					As of
	June 30, 2018					June 30, 2017
(in U.S. dollars, in thousands, except percent data)	Total		% of total loans			Total		% of total loans
Financial liabilities
Non-current borrowings
Variable rate borrowings - Hercules		31,966		54	%		—		—
		31,966		54	%		—		—

An analysis by maturities is provided in Note 10(c) below. The percentage of total loans shows the proportion of loans that are currently at variable rates in relation to the total amount of borrowings.

The borrowings which expose the Group to interest rate risk are described in the table below, together with the maximum and minimum interest rates being earned as of June 30, 2018 and June 30, 2017. The effect on profit is shown if interest rates change by 5%, in either direction, is as follows:

	As of									As of
	June 30, 2018									June 30, 2017
(in U.S. dollars, in thousands, except percent data)	Low			High						Low		High
Borrowings - USD		9.95	%		9.95	%	USD 31,966⁽²⁾				—		—	—
Rate increase by 5%		10.45	%		10.45	%		USD 159			—		—	—
Rate decrease by 5%⁽¹⁾		9.45	%		9.45	%		(USD 159	)		—		—	—

(1)	The interest rate will not decrease to below 9.45% per the terms of the loan agreement.

(2)	The effect on profit/loss of interest rate changes is based on the loan carrying value of $32.0 million with principal payments commencing in October 2019.

The Group is also exposed to interest rate movements which impacts interest income earned on its deposits. The interest income derived from these balances can fluctuate due to interest rate changes. This interest rate risk is managed by spreading the maturity date of our deposits across various periods. The Group ensures that sufficient funds are available, in at call accounts, to meet the working capital requirements of the Group.

The deposits held which derive interest revenue are described in the table below, together with the maximum and minimum interest rates being earned as of June 30, 2018 and June 30, 2017 The effect on profit is shown if interest rates change by 10%, in either direction, is as follows:

	As of								As of
	June 30, 2018								June 30, 2017
(in U.S. dollars, in thousands, except percent data)	Low			High					Low			High
Funds invested - USD		0.80	%		0.80	%	USD 99			0.55	%		0.55	%	USD 37,577
Rate increase by 10%		0.88	%		0.88	%	USD 0			0.61	%		0.61	%	USD 21
Rate decrease by 10%		0.72	%		0.72	%	(USD 0	)		0.50	%		0.50	%	(USD 21	)


AUD	Low			High					Low			High
Funds invested - AUD		2.72	%		2.72	%	AUD 600			2.42	%		2.42	%	AUD 600
Rate increase by 10%		2.99	%		2.99	%	AUD 2			2.66	%		2.66	%	AUD 1
Rate decrease by 10%		2.45	%		2.45	%	(AUD 2	)		2.18	%		2.18	%	(AUD 1	)

(iii) Price risk

Price risk is the risk that future cash flows derived from financial instruments will be altered as a result of a market price movement, which is defined as movements other than foreign currency rates and interest rates. The Group is exposed to price risk which arises from long-term borrowings under its facility with NovaQuest, where the timing and amounts of principal and interest payments is dependent on net sales of product candidate MSC-100-IV for the treatment of aGVHD in pediatric patients in the United States and other territories excluding Asia. As net sales of MSC-100-IV for the treatment of aGVHD in pediatric patients in these territories increase/decrease, the timing and amount of principal and interest payments relating to this type of financing arrangement will also fluctuate, resulting in an adjustment to the carrying amount of financial liability. The adjustment is recognized in the Income Statement as income or expense in the period the revision is made.

The exposure of the Group’s borrowing to price rate changes are as follows:

	As of					As of
	June 30, 2018					June 30, 2017
(in U.S. dollars, in thousands, except percent data)	Total		% of total loans			Total		% of total loans
Financial liabilities
Non-current borrowings
Borrowings - NovaQuest		27,431		46	%		—		—
		27,431		46	%		—		—

As at June 30, 2018, all other factors held constant, a 20% increase in the forecast net sales of MSC-100-IV for the treatment of aGVHD in pediatric patients in the United States and other territories excluding Asia would increase non-current borrowing and decrease profit by $2.3 million, whereas a 20% decrease in the net sales of MSC-100-IV for the treatment of aGVHD in pediatric patients in the United States and other territories excluding Asia would decrease non-current borrowings and increase profit by $1.3 million.

The Group does not consider it has any exposure to price risk other than those already described above.

b.	Credit risk

Credit risk is the risk that one party to a financial instrument will fail to discharge its obligation and cause financial loss to the other party. The Group does not generally have trade receivables. The Group’s receivables are tabled below.

	As of June 30,
(in U.S. dollars, in thousands)	2018		2017
Cash and cash equivalents
Deposits at call (Note 5(a)) - minimum A rated		542		38,039
Cash at bank (Note 5(a)) - minimum A rated		37,221		7,722
Trade and other receivables
Receivable from other parties (non-rated)		45,745		1,067
Receivable from the Australian Government (Income Tax)		3,305		1,631
Receivable from the Australian Government (Foreign Withholding Tax)		400		—
Receivable from minimum A rated bank deposits (interest)		262		12
Receivable from the Australian Government (Goods and Services Tax)		48		86
Receivable from the United States Government (Income Tax)		24		27
Receivable from the Swiss Government (Value-Added Tax)		6		1
Other non-current assets
Receivable from the United States Government (U.S. tax credits)		1,473		—

c.	Liquidity risk

Liquidity risk is the risk that the Group will not be able to pay its debts as and when they fall due. Liquidity risk has been assessed in Note 1(i).

All financial liabilities, excluding contingent consideration, held by the Group as of June 30, 2018 and June 30, 2017 are non-interest bearing and mature within 6 months. The total contractual cash flows associated with these liabilities equate to the carrying amount disclosed within the financial statements.

As of June 30, 2018, the maturity profile of the anticipated future contractual cash flows including interest in relation to the Group’s borrowings, on an undiscounted basis and which, therefore differs from the carrying value, is as follows:

(in U.S. dollars, in thousands)

Within

1 year

Between

1-2 years

Between

2-5 years

Over

5 years

Total

contractual

cash flows

Carrying

amount

Borrowings⁽¹⁾⁽²⁾

(3,928

)

(15,495

)

(54,826

)

(49,228

)

(123,477

)

(59,397

)

(3,928

)

(15,495

)

(54,826

)

(49,228

)

(123,477

)

(59,397

)

(1)	Contractual cash flows include payments of principal, interest and other charges. Interest is calculated based on debt held at June 30, 2018 without taking account drawdowns of further tranches.

(2)	In relation to the contractual maturities of the NovaQuest borrowings, there is variability in the maturity profile of the anticipated future contractual cash flows given the timing and amount of payments are calculated based on our estimated net sales of pediatric aGVHD.

Interests in other entities

12 Months Ended

Jun. 30, 2018

Disclosure Of Significant Investments In Subsidiaries [Abstract]

Interests in other entities

12. Interests in other entities

The Group’s subsidiaries as of June 30, 2018 and 2017 are set out below. Unless otherwise stated, they have share capital consisting solely of ordinary shares that are held directly by the Group, and the proportion of ownership interests held equals the voting rights held by the Group. The country of incorporation or registration is also their principal place of business.

	Country of	Class of
	incorporation	shares	Equity holding
			As of June 30,
			2018		2017
			%		%
Mesoblast, Inc.	USA	Ordinary		100		100
Mesoblast International Sàrl (includes Mesoblast International Sàrl Singapore Branch)	Switzerland	Ordinary		100		100
Mesoblast Australia Pty Ltd	Australia	Ordinary		100		100
Mesoblast UK Ltd	United Kingdom	Ordinary		100		100
Mesoblast International (UK) Ltd	United Kingdom	Ordinary		100		100

Contingent assets and liabilities

12 Months Ended

Jun. 30, 2018

Disclosure Of Contingent Assets And Liabilities [Abstract]

Contingent assets and liabilities

13. Contingent assets and liabilities

a.	Contingent assets

The Group did not have any contingent assets outstanding as of June 30, 2018 and June 30, 2017.

b.	Contingent liabilities

(i) Central Adelaide Local Health Network Incorporated (“CALHNI”) (formerly Medvet)

The Group acquired certain intellectual property relating to our MPCs, or Medvet IP, pursuant to an Intellectual Property Assignment Deed, or IP Deed, with Medvet Science Pty Ltd, or Medvet. Medvet’s rights under the IP Deed were transferred to Central Adelaide Local Health Network Incorporated, or CALHNI, in November 2011. In connection with its use of the Medvet IP, on completion of certain milestones the Group will be obligated to pay CALHNI, as successor in interest to Medvet, (i) certain aggregated milestone payments of up to $2.2 million and single-digit royalties on net sales of products covered by the Medvet IP, for cardiac muscle and blood vessel applications and bone and cartilage regeneration and repair applications, subject to minimum annual royalties beginning in the first year of commercial sale of those products and (ii) single-digit royalties on net sales of the specified products for applications outside the specified fields.

(ii) Other contingent liabilities

The Group has entered into a number of other agreements with other third parties pertaining to intellectual property. Contingent liabilities may arise in the future if certain events or developments occur in relation to these agreements. As of June 30, 2018 the Group has assessed these contingent liabilities to be remote and specific disclosure is not required.

Commitments

12 Months Ended

Jun. 30, 2018

Commitments [Abstract]

Commitments

14. Commitments

a.	Capital commitments

The Group did not have any commitments for future capital expenditure outstanding as of June 30, 2018 and June 30, 2017.

b.	Lease commitments: Group as lessee

The Group leases various offices under non-cancellable operating leases expiring within 1 to 4 years. The leases have varying terms, escalation clauses and renewal rights. On renewal, the terms of the leases are renegotiated. Excess office space is sub-let to a third party also under a non-cancellable operating lease.

Later than

Later than one

three years

year but no

but no later

Within one

later than

than five

Later than

(in U.S. dollars, in thousands)

Total

year

three years

years

five years

Operating leases

3,926

1,651

2,240

—

Total commitments

3,926

1,651

2,240

—

Lease commitments include amounts in AUD and Singapore dollars which have been translated to USD as of June 30, 2018 foreign exchange rates published by the Reserve Bank of Australia.

c.	Lease commitments: Group as lessor

The Group sub-leases under non-cancellable operating leases expiring within 2 years. Future minimum lease payments expected to be received in relation to non-cancellable operating sub-leases are set out below:

Later than

Later than one

three years

year but no

but no later

Within one

later than

than five

Later than

(in U.S. dollars, in thousands)

Total

year

three years

years

five years

Operating leases

220

155

—

Total commitments

220

155

—

d.	Purchase commitments

The Group did not have any purchase commitments as of June 30, 2018.

Events occurring after the reporting period	12 Months Ended
Events occurring after the reporting period	Jun. 30, 2018
Disclosure Of Nonadjusting Events After Reporting Period [Abstract]
Events occurring after the reporting period	15. Events occurring after the reporting period In July 2018, the Group entered into a strategic alliance with Tasly Pharmaceuticals Group (“Tasly”) for the development, manufacture and commercialization in China of the Group’s allogenic mesenchymal precursor cell products, MPC-150-IM for the treatment or prevention of chronic heart failure and MPC-25-IC for the treatment or prevention of acute myocardial infraction. Tasly will receive exclusive rights and will fund all development, manufacturing and commercialization activities in China for MPC-150-IM and MPC-25-IC. The Group will receive $40.0 million from Tasly on closing of the strategic alliance, comprising a $20.0 million up-front technology access fee and $20.0 million in an equity purchase in Mesoblast Limited at A$1.86 per share, representing a 20% premium to a blended volume weight average price calculated over three months, one month and one day. This receipt is subject to filing with the State Administration of Foreign Exchange. The Group is also entitled to receive $25.0 million on product regulatory approvals in China, double-digit escalating royalties on net product sales and is eligible to receive up to six escalating milestone payments upon the product candidates reaching certain sales thresholds in China. On closing of the strategic alliance, the Group expects to recognize the amount relating to the up-front technology access fee in revenue and the amount relating to the equity purchase in issued capital. There were no other events that have occurred after June 30, 2018 and prior to the signing of this financial report that would likely have a material impact on the financial results presented.

Related party transactions

12 Months Ended

Jun. 30, 2018

Disclosure Of Key Management Personnel Compensation [Abstract]

Related party transactions

16. Related party transactions

a.	Parent entity

The parent entity within the Group is Mesoblast Limited.

b.	Subsidiaries

Details of interests in subsidiaries are disclosed in Note 12 to the financial statements.

c.	Key management personnel compensation

The aggregate compensation made to Directors and other members of key management personnel of the Group is set out below:

	Year Ended June 30,
(in U.S. dollars)	2018			2017
Short-term employee benefits		2,577,166			2,592,456
Long-term employee benefits		5,648			17,742
Post-employment benefits		66,539			70,915
Share based payments		(60,858	)		552,174
		2,588,495			3,233,287

d.	Transactions with other related parties

Accounts receivable from revenues, accounts payable to expenses and loans from subsidiaries as at the end of the fiscal year have been eliminated on consolidation of the Group.

e.	Terms and conditions

All other transactions were made on normal commercial terms and conditions and at market rates, except that there are no fixed terms for the repayment of loans between the parties.

Outstanding balances are unsecured and are repayable in cash.

Share-based payments

12 Months Ended

Jun. 30, 2018

Disclosure Of Sharebased Payment Arrangements [Abstract]

Share-based payments

17. Share-based payments

The Company has adopted an Employee Share Option Plan (“ESOP”) and a Loan Funded Share Plan (“LFSP”) (together, “the Plans”) to foster an ownership culture within the Company and to motivate senior management and consultants to achieve performance targets. Selected directors, employees and consultants may be eligible to participate in the Plans at the absolute discretion of the board of directors, and in the case of directors, upon approval by shareholders. Due to changes in the Australian taxation regime, the Company no longer issues new LFSP since July 1, 2015.

Grant policy

In accordance with the Company’s policy, options and loan funded shares are typically issued in three equal tranches. For issues granted prior to July 1, 2015 the length of time from grant date to expiry date was typically 5 years. Grants since July 1, 2015, are issued with a seven year term.

Options issued to employees generally vest based on service or time conditions. In the year ended June 30, 2018, senior executives were issued options that vest based on performance conditions. For time based vesting options, the first tranche typically vests 12 months after grant date, the second tranche 24 months after grant date, and the third tranche 36 months after grant date.

The exercise price is determined by reference to the Company policy which is generally the volume weighted market price of a share sold on the ASX on the 5 trading days immediately before the Board approval date. In the case of options that have time based vesting conditions, the board of directors adds a 10% premium. Options with performance based vesting conditions are issued with no premium. No new options were issued to the directors during the year. The board of directors’ policy is not to issue options at a discount to the market price. The same approach is used to determine the purchase price to acquire a loan-funded share for the purposes of the LFSP.

The aggregate number of options which may be issued pursuant to the ESOP must not exceed 10,000,000 with respect to US incentive stock options, and with respect to Australian residents, the limit imposed under the Australian Securities and Investments Commission Class Order 14/1000.

In addition, the LFSP which has not been issued since July 1, 2015, has the following characteristics:

On grant date, the Company issues new equity (rather than purchasing shares on market), and the loan funded shares are placed in a trust which holds the shares on behalf of the employee. The trustee issues a limited recourse, interest free, loan to the employee which is equal to the number of shares multiplied by the price. A limited-recourse loan means that the repayment amount will be the lesser of the outstanding loan value (the loan value less any amounts that may have already been repaid) and the market value of the shares that are subject to the loan. The price is the amount the employee must pay for each loan funded share if exercised.

The trustee continues to hold the shares on behalf of the employee until the employee chooses to settle the loan pertaining to the shares and all vesting conditions have been satisfied, at which point ownership of the shares is fully transferred to the employee.

Any dividends paid by the Company, while the shares are held by the trustee, are applied as a repayment of the loan at the after-tax value of the dividend.

a.	Reconciliation of outstanding share based payments

Series	Grant Date	Expiry Date	Exercise Price		Opening Balance		Granted No. (during the year)		Exercised No. (during the year)			Lapsed/Cancelled No. (during the year)			Closing Balance		Vested and exercisable No (end of year)
INC	7/12/2010	26/10/2018		USD 0.305		154,064		—		(127,956	)		—			26,108		26,108
INC	7/12/2010	26/10/2019		USD 0.340		447,848		—		(127,956	)		—			319,892		319,892
17/LF3	9/07/2012	8/07/2018		AUD 6.67		150,000		—		—			—			150,000		150,000
19/LF5	25/01/2013-29/01/2013	24/01/2018-28/01/2018		AUD 6.27		50,000		—		—			(50,000	)		—		—
20/LF6	24/05/2013	23/05/2018		AUD 6.34		425,000		—		—			(425,000	)		—		—
21/LF7	3/09/2013	30/06/2018		AUD 5.90		1,865,000		—		—			(1,865,000	)		—		—
22/LF8	4/09/2013	27/08/2018		AUD 6.26		225,000		—		—			—			225,000		225,000
25a (i&ii)	1/01/2014	31/12/2018		AUD 6.36		650,000		—		—			—			650,000		650,000
25b	12/12/2014	31/10/2019		AUD 4.49		50,000		—		—			—			50,000		50,000
27/LF12	5/09/2014	30/06/2019		AUD 4.69		2,070,000		—		—			(25,000	)		2,045,000		2,045,000
27(iv)	25/08/2014	24/08/2019		AUD 4.65		75,000		—		—			(75,000	)		—		—
28/LF13	9/10/2014	8/10/2019		AUD 4.52		85,000		—		—			(10,000	)		75,000		75,000
29	25/11/2014	24/11/2019		AUD 4.00		240,000		—		—			—			240,000		240,000
30a(1)	25/03/2015	30/06/2018		AUD 4.98		650,000		—		—			(650,000	)		—		—
30b(1)	25/03/2015	25/01/2018		AUD 4.98		235,000		—		—			(235,000	)		—		—
30c(1)	25/03/2015	20/01/2019		AUD 4.98		135,000		—		—			—			135,000		135,000
30d(1)	25/03/2015	25/01/2019		AUD 4.98		300,000		—		—			—			300,000		300,000
30e(1)	25/03/2015	25/01/2018		AUD 4.98		165,000		—		—			(165,000	)		—		—
30f(1)	25/03/2015	25/01/2019		AUD 4.98		200,000		—		—			—			200,000		200,000
30g(1)	25/03/2015	23/07/2019		AUD 4.69		300,000		—		—			(300,000	)		—		—
30h(1)	25/03/2015	30/06/2019		AUD 4.69		400,000		—		—			—			400,000		400,000
30i(1)	25/03/2015	30/06/2019		AUD 4.44		600,000		—		—			—			600,000		600,000
30j	25/03/2015	23/07/2019		AUD 4.69		150,000		—		—			(150,000	)		—		—
LF14	6/01/2015	16/12/2019		AUD 4.66		150,000		—		—			—			150,000		150,000
31b	12/05/2015	16/02/2020		AUD 4.28		200,000		—		—			—			200,000		200,000
32	10/07/2015	30/06/2022		AUD 4.20		2,620,000		—		—			(161,666	)		2,458,334		1,683,336
33	26/08/2015	16/08/2022		AUD 4.05		91,667		—		—			(16,667	)		75,000		50,000
34	27/04/2016	6/03/2023		AUD 2.80		3,621,667		—		—			(241,667	)		3,380,000		2,299,982
34a	27/04/2016	17/04/2023		AUD 2.74		200,000		—		—			—			200,000		133,334
34b	31/10/2016	6/03/2023		AUD 2.80		200,000		—		—			—			200,000		200,000
35	30/06/2016	18/01/2021		AUD 2.20		1,500,000		—		—			—			1,500,000		1,500,000
36	6/12/2016	5/12/2023		AUD 1.31		2,045,000		—		(33,333	)		(126,667	)		1,885,000		611,666
36a	6/12/2016	5/12/2023		AUD 1.19		4,400,000		—		—			—			4,400,000		1,495,002
36b	13/01/2017	12/01/2024		AUD 1.65		450,000		—		—			(150,000	)		300,000		300,000
37	28/06/2017	27/06/2024		AUD 2.23		—		300,000		—			—			300,000		100,000
38	16/09/2017	15/09/2024		AUD 1.54		—		100,000		—			—			100,000		—
38a	16/09/2017	15/09/2024		AUD 1.40		—		150,000		—			—			150,000		—
39	13/10/2017	12/10/2024		AUD 1.94		—		2,310,000		—			(95,000	)		2,215,000		—
39a	13/10/2017	12/10/2024		AUD 1.76		—		2,000,000		—			(100,000	)		1,900,000		200,000
40	24/11/2017	23/11/2024		AUD 1.41		—		750,000		—			—			750,000		—
40a	24/11/2017	23/11/2024		AUD 1.28		—		750,000		—			—			750,000		—
June 30, 2018						25,100,246		6,360,000		(289,245	)		(4,841,667	)		26,329,334		14,339,320
Weighted average share purchase price						AUD 3.35		AUD 1.74		AUD 0.52			AUD 4.97			AUD 2.68		AUD 3.39

(1)	30a to 30i were granted as a remuneration for the repurchase and cancellation of 2,985,000 LFSP during the year ended 30 June 2015 (see Note 17(b)).

Series	Grant Date	Expiry Date	Exercise Price		Opening Balance		Granted No. (during the year)		Exercised No. (during the year)			Lapsed/Cancelled No. (during the year)			Closing Balance		Vested and exercisable No (end of year)
INC	7/12/2010	26/10/2018		USD 0.305		154,064		—		—			—			154,064		154,064
INC	7/12/2010	26/10/2019		USD 0.340		447,848		—		—			—			447,848		447,848
INC	7/12/2010	25/04/2017		USD 0.444		127,956		—		(127,956	)		—			—		—
INC	7/12/2010	2/05/2017		USD 0.444		127,956		—		(127,956	)		—			—		—
16/LF2	24/02/2012	23/02/2017		AUD 8.48		340,000		—		—			(340,000	)		—		—
17/LF3	9/07/2012	8/07/2018		AUD 6.69		250,000		—		—			(100,000	)		150,000		150,000
18/LF4	21/09/2012-29/10/2012	30/06/2017		AUD 6.70		1,948,333		—		—			(1,948,333	)		—		—
19/LF5	25/01/2013-29/01/2013	24/01/2018-28/01/2018		AUD 6.29		100,000		—		—			(50,000	)		50,000		50,000
20/LF6	24/05/2013	23/05/2018		AUD 6.36		595,000		—		—			(170,000	)		425,000		425,000
21/LF7	3/09/2013	30/06/2018		AUD 5.92		2,430,000		—		—			(565,000	)		1,865,000		1,865,000
22/LF8	4/09/2013	27/08/2018		AUD 6.28		225,000		—		—			—			225,000		225,000
23a	26/11/2013	10/10/2018		AUD 6.20		33,333		—		—			(33,333	)		—		—
24	17/12/2013	16/12/2018		AUD 6.25		25,000		—		—			(25,000	)		—		—
25a (i&ii)	1/01/2014	31/12/2018		AUD 6.38		650,000		—		—			—			650,000		650,000
25b	12/12/2014	31/10/2019		AUD 4.51		50,000		—		—			—			50,000		33,334
25	1/07/2014	6/04/2019		AUD 5.80		10,000		—		—			(10,000	)		—		—
26/LF11	24/07/2014	23/07/2019		AUD 4.71		125,000		—		—			(125,000	)		—		—
27/LF12	5/09/2014	30/06/2019		AUD 4.71		2,865,000		—		—			(795,000	)		2,070,000		1,380,004
27(ii)	4/08/2014	3/08/2019		AUD 4.60		50,000		—		—			(50,000	)		—		—
27(iv)	25/08/2014	24/08/2019		AUD 4.67		75,000		—		—			—			75,000		50,000
28/LF13	9/10/2014	8/10/2019		AUD 4.54		235,000		—		—			(150,000	)		85,000		56,666
29	25/11/2014	24/11/2019		AUD 4.02		240,000		—		—			—			240,000		160,002
30a(1)	25/03/2015	30/06/2018		AUD 5.00		650,000		—		—			—			650,000		650,000
30b(1)	25/03/2015	25/01/2018		AUD 5.00		235,000		—		—			—			235,000		235,000
30c(1)	25/03/2015	20/01/2019		AUD 5.00		135,000		—		—			—			135,000		135,000
30d(1)	25/03/2015	25/01/2019		AUD 5.00		300,000		—		—			—			300,000		300,000
30e(1)	25/03/2015	25/01/2018		AUD 5.00		165,000		—		—			—			165,000		165,000
30f(1)	25/03/2015	25/01/2019		AUD 5.00		200,000		—		—			—			200,000		200,000
30g(1)	25/03/2015	23/07/2019		AUD 4.71		300,000		—		—			—			300,000		200,000
30h(1)	25/03/2015	30/06/2019		AUD 4.71		400,000		—		—			—			400,000		266,668
30i(1)	25/03/2015	30/06/2019		AUD 4.46		600,000		—		—			—			600,000		600,000
30j	25/03/2015	23/07/2019		AUD 4.71		150,000		—		—			—			150,000		100,000
LF14	6/01/2015	16/12/2019		AUD 4.66		150,000		—		—			—			150,000		100,000
31a	27/04/2015	16/02/2020		AUD 4.73		20,000		—		—			(20,000	)		—		—
31b	12/05/2015	16/02/2020		AUD 4.30		200,000		—		—			—			200,000		200,000
32	10/07/2015	30/06/2022		AUD 4.22		3,840,000		—		—			(1,220,000	)		2,620,000		873,334
33	26/08/2015	16/08/2022		AUD 4.07		125,000		—		—			(33,333	)		91,667		41,667
34	27/04/2016	6/03/2023		AUD 2.82		5,140,000		—		(16,667	)		(1,501,666	)		3,621,667		1,218,324
34a	27/04/2016	17/04/2023		AUD 2.76		200,000		—		—			—			200,000		66,667
34b	31/10/2016	6/03/2023		AUD 2.82		—		200,000		—			—			200,000		200,000
35	30/06/2016	18/01/2021		AUD 2.22		1,500,000		—		—			—			1,500,000		—
36	6/12/2016	5/12/2023		AUD 1.33		—		2,095,000		—			(50,000	)		2,045,000		—
36a	6/12/2016	5/12/2023		AUD 1.21		—		4,400,000		—			—			4,400,000		816,667
36b	13/01/2017	12/01/2024		AUD 1.67		—		450,000		—			—			450,000		150,000
June 30, 2017						25,414,490		7,145,000		(272,579	)		(7,186,665	)		25,100,246		12,165,245
Weighted average share purchase price						AUD 4.39		AUD 1.32		AUD 0.72			AUD 5.10			AUD 3.35		AUD 4.36

(1)	30a to 30i were granted as a remuneration for the repurchase and cancellation of 2,985,000 LFSP during the year ended 30 June 2015 (see Note 17(b)).

Series	Grant Date	Expiry Date	Exercise Price		Opening Balance		Granted No. (during the year)		Exercised No. (during the year)			Lapsed/Cancelled No. (during the year)			Closing Balance		Vested and exercisable No (end of year)
INC	7/12/2010	7/07/2015		USD 0.046		287,903		—		(287,903	)		—			—		—
INC	7/12/2010	26/10/2018		USD 0.305		154,064		—		—			—			154,064		154,064
INC	7/12/2010	26/10/2019		USD 0.340		447,848		—		—			—			447,848		447,848
INC	7/12/2010	25/04/2017		USD 0.444		127,956		—		—			—			127,956		127,956
INC	7/12/2010	2/05/2017		USD 0.444		127,956		—		—			—			127,956		127,956
13	22/09/2010	21/09/2015		AUD 2.64		135,000		—		(135,000	)		—			—		—
14	29/11/2010	29/11/2015		AUD 3.48		1,453,350		—		—			(1,453,350	)		—		—
15/LF1	22/12/2011	30/06/2016		AUD 7.99		3,413,334		—		—			(3,413,334	)		—		—
16/LF2	24/02/2012	23/02/2017		AUD 8.48		340,000		—		—			—			340,000		340,000
17/LF3	9/07/2012	8/07/2018		AUD 6.69		250,000		—		—			—			250,000		250,000
18/LF4	21/09/2012-29/10/2012	30/06/2017		AUD 6.70		2,276,667		—		—			(328,334	)		1,948,333		1,948,333
19/LF5	25/01/2013-29/01/2013	24/01/2018-28/01/2018		AUD 6.29		100,000		—		—			—			100,000		100,000
20/LF6	24/05/2013	23/05/2018		AUD 6.36		865,000		—		—			(270,000	)		595,000		595,000
21/LF7	3/09/2013	30/06/2018		AUD 5.92		2,741,667		—		—			(311,667	)		2,430,000		1,878,336
22/LF8	4/09/2013	27/08/2018		AUD 6.28		275,000		—		—			(50,000	)		225,000		150,002
23a	26/11/2013	10/10/2018		AUD 6.20		50,000		—		—			(16,667	)		33,333		33,333
24	17/12/2013	16/12/2018		AUD 6.25		148,333		—		—			(123,333	)		25,000		16,666
25a (i&ii)	1/01/2014	31/12/2018		AUD 6.38		650,000		—		—			—			650,000		650,000
25b	12/12/2014	31/10/2019		AUD 4.51		50,000		—		—			—			50,000		16,667
25	1/07/2014	6/04/2019		AUD 5.80		15,000		—		—			(5,000	)		10,000		10,000
26/LF11	24/07/2014	23/07/2019		AUD 4.71		215,000		—		—			(90,000	)		125,000		41,667
27/LF12	5/09/2014	30/06/2019		AUD 4.71		3,380,000		—		—			(515,000	)		2,865,000		961,670
27(ii)	4/08/2014	3/08/2019		AUD 4.60		50,000		—		—			—			50,000		16,667
27(iv)	25/08/2014	24/08/2019		AUD 4.67		75,000		—		—			—			75,000		25,000
28/LF13	9/10/2014	8/10/2019		AUD 4.54		235,000		—		—			—			235,000		78,333
29	25/11/2014	24/11/2019		AUD 4.02		240,000		—		—			—			240,000		80,001
30a(1)	25/03/2015	30/06/2018		AUD 5.00		650,000		—		—			—			650,000		650,000
30b(1)	25/03/2015	25/01/2018		AUD 5.00		235,000		—		—			—			235,000		235,000
30c(1)	25/03/2015	20/01/2019		AUD 5.00		135,000		—		—			—			135,000		135,000
30d(1)	25/03/2015	25/01/2019		AUD 5.00		300,000		—		—			—			300,000		200,000
30e(1)	25/03/2015	25/01/2018		AUD 5.00		165,000		—		—			—			165,000		165,000
30f(1)	25/03/2015	25/01/2019		AUD 5.00		200,000		—		—			—			200,000		200,000
30g(1)	25/03/2015	23/07/2019		AUD 4.71		300,000		—		—			—			300,000		100,000
30h(1)	25/03/2015	30/06/2019		AUD 4.71		400,000		—		—			—			400,000		133,334
30i(1)	25/03/2015	30/06/2019		AUD 4.46		600,000		—		—			—			600,000		400,000
30j	25/03/2015	23/07/2019		AUD 4.71		150,000		—		—			—			150,000		50,000
LF14	6/01/2015	16/12/2019		AUD 4.66		150,000		—		—			—			150,000		50,000
31	16/03/2015	16/02/2020		AUD 4.73		60,000		—		—			(60,000	)		—		—
31a	27/04/2015	16/02/2020		AUD 4.73		20,000		—		—			—			20,000		6,667
31b	12/05/2015	16/02/2020		AUD 4.30		400,000		—		—			(200,000	)		200,000		200,000
32	10/07/2015	30/06/2022		AUD 4.22		—		4,800,000		—			(960,000	)		3,840,000		—
33	26/08/2015	16/08/2022		AUD 4.07		—		125,000		—			—			125,000		—
34	27/04/2016	6/03/2023		AUD 2.82		—		5,255,000		—			(115,000	)		5,140,000		—
34a	27/04/2016	17/04/2023		AUD 2.76		—		200,000		—			—			200,000		—
35	30/06/2016	18/01/2021		AUD 2.22		—		1,500,000		—			—			1,500,000		—
June 30, 2016						21,869,078		11,880,000		(422,903	)		(7,911,685	)		25,414,490		10,574,500
Weighted average share purchase price						AUD 5.49		AUD 3.32		AUD 0.88			AUD 5.93			AUD 4.39		AUD 5.38

(1)	30a to 30i were granted as a remuneration for the repurchase and cancellation of 2,985,000 LFSP during the year ended 30 June 2015 (see Note 17(b)).

The weighted average share price at the date of exercise of options exercised during the years ended June 30, 2018, 2017 and 2016 were AUD 1.46, AUD 3.28 and AUD 3.68 respectively.

The weighted average remaining contractual life of share options and loan funded shares outstanding as of June 30, 2018, 2017 and 2016 were 4.24 years, 4.09 years and 3.85 years, respectively.

b.	Existing share-based payment arrangements

General terms and conditions attached to share based payments

Share options pursuant to the employee share option plan and shares pursuant to loan funded share plan are generally granted in three equal tranches. For issues granted prior to July 1, 2015 the length of time from grant date to expiry date was typically 5 years. Grants since July 1, 2015, are issued with a seven year term. Vesting occurs either based on achievement of performance conditions or progressively over the life of the option/share with the first tranche vesting one year from grant date, the second tranche two years from grant date, and the third tranche three years from grant date. On cessation of employment the Company’s board of directors determines if a leaver is a bad leaver or not. If a participant is deemed a bad leaver, all rights, entitlements and interests in any unexercised options or shares (pursuant to the loan funded share plan) held by the participant will be forfeited and will lapse immediately. If a leaver is not a bad leaver they may retain vested options and shares (pursuant to the loan funded share plan), however, they must be exercised within 60 days of cessation of employment (or within a longer period if so determined by the Company’s board of directors), after which time they will lapse. Unvested options will normally be forfeited and lapse.

This policy applies to all issues shown in the above table with the exception of the following:

Series 10		Options granted to the Chairman were approved by shareholders at the Annual General Meeting held on November 30, 2010. The options were granted in four equal tranches vesting on the achievement of certain milestones, being the date on which:
		• Mesoblast signs a commercial partnering contract, e.g. a commercial license to one of its products (vested December 7, 2010); • Mesoblast receives IND clearance from the FDA for its first clinical trial for Intervertebral Disc Repair (vested March 17, 2011); • Mesoblast completes patient enrollment for its first clinical trial under IND for Intervertebral Disc Repair (vested October 12, 2012); • Mesoblast obtains a license from the Therapeutics Goods Administration (TGA) for the manufacture (vested July 20, 2010). All the remaining options under series 10 were exercised during the years ended June 30, 2015 and 2014.

25a(i&ii)		Options were granted in two equal tranches and vested on the date that the option holder had direct involvement (to the reasonable satisfaction of the Company’s board of directors) in the Company achieving certain confidential commercial objectives.

INC.		As part of the acquisition of Mesoblast, Inc., Mesoblast, Inc. options were converted to options of the Company at a conversion ratio of 63.978. The Mesoblast, Inc. option exercise price per option was adjusted using the same conversion ratio. All options vested on acquisition date (December 7, 2010), and will expire according to their original expiry dates (with the exception of options held by directors which were limited to an expiry date not exceeding four years from acquisition).

31b 35		Options were granted in two equal tranches and will vest on the date that the option holder has direct involvement (to the reasonable satisfaction of the Company’s board of directors) in the Company achieving certain confidential commercial objectives. Incentive rights granted pursuant to the Equity Facility Agreement with Kentgrove Capital, dated June 30, 2016, had fully vested on the agreement date and will expire thirty six months after the date of the issue of the incentive right.
36 (a&b)		Options were granted in two or three equal tranches and will vest on the date that the option holder has direct involvement (to the reasonable satisfaction of the Company’s board of directors) in the Company achieving certain confidential commercial objectives.
38a & 40a		Options were granted in one tranche and will vest on the date that the option holder has direct involvement (to the reasonable satisfaction of the Company’s board of directors) in the Company achieving certain confidential commercial objectives.

39a

Options were granted in one or two equal tranches and will vest on the date that the option holder has direct involvement (to the reasonable satisfaction of the Company’s board of directors) in the Company achieving certain confidential commercial objectives.

Modifications to share-based payment arrangements

During the year ended June 30, 2015, the Company repurchased an aggregate amount of $13.9 million (AUD 17.7 million) of loans under LFSP and correspondingly cancelled 2,985,000 of the Company’s ordinary shares held in trust for certain employees of the Company. As remuneration for the repurchase of loans and cancellation of these ordinary shares under LFSP, the Company granted options to purchase 2,985,000 of the Company’s ordinary shares at exercise prices ranging from AUD 4.44 to AUD 4.98 under ESOP 30a to 30i. As of March 25, 2015 (the “modification date”), the total incremental fair value granted as a result of these modifications was $0.6 million. During the year ended June 30, 2018, as a result of a fully underwritten institutional and retail entitlement offer to existing eligible shareholders (on a 1 for 12 basis) in September 2017, the exercise price of all outstanding options at the time was reduced by A$0.02 per option subject to the ESOP plan under clause 7.3. There were no modifications made to share-based payment arrangements during the year ended June 30, 2017.

c.	Fair values of share based payments

The weighted average fair value of share options granted during the years ended June 30, 2018, 2017 and 2016 were AUD 0.61, AUD 1.46 and AUD 1.07, respectively.

The fair value of all shared-based payments made has been calculated using the Black-Scholes model. This model requires the following inputs:

Share price at acceptance date

The share price used in valuation is the share price at the date at which the entity and the employee agree to a share-based payment arrangement, being when the entity and the employee have a shared understanding of the terms and conditions of the arrangement. This price is generally the volume weighted average share price for the five trading days leading up to the date.

Exercise price

The exercise price is a known value that is contained in the agreements.

Share price volatility

The model requires the Company’s share price volatility to be measured. In estimating the expected volatility of the underlying shares our objective is to approximate the expectations that would be reflected in a current market or negotiated exchange price for the option or loan funded share. Historical volatility data is considered in determining expected future volatility.

Life of the option/share

The life is generally the time period from grant date through to expiry. Certain assumptions have been made regarding “early exercise” i.e. options exercised ahead of the expiry date, with respect to option series 14 and later. These assumptions have been based on historical trends for option exercises within the Company and take into consideration exercise trends that are also evident as a result of local taxation laws.

Dividend yield

The Company has yet to pay a dividend so it has been assumed the dividend yield on the shares underlying the options will be 0%.

Risk free interest rate

This has been sourced from the Reserve Bank of Australia historical interest rate tables for government bonds.

Model inputs

The model inputs for the valuations of options approved and granted during the year ended June 30, 2018 are as follows:

Series	Financial year of grant	Exercise/Loan price per share AUD		Share price at acceptance date AUD		Expected share price volatility	Life⁽¹⁾	Dividend yield	Risk-free interest rate
37	2018		2.23		2.02	52.21%	5.8 yrs	0%	2.22%
38	2018		1.54		1.37	52.04%	5.8 yrs	0%	2.41%
38a	2018		1.40		1.37	52.56%	5.8 yrs	0%	2.27%
39	2018		1.94		1.34	52.49%	5.9 yrs	0%	2.16%
39a	2018		1.76		1.34	52.49%	5.9 yrs	0%	2.16%
40	2018		1.41		1.32	52.35%	5.8 yrs	0%	2.43%
40a	2018		1.28		1.32	52.35%	5.8 yrs	0%	2.43%

(1)	Expected life after factoring likely early exercise.

The closing share market price of an ordinary share of Mesoblast Limited on the ASX as of June 30, 2018 was AUD 1.48.

The model inputs for the valuations of options approved and granted during the year ended June 30, 2017 are as follows:

Series	Financial year of grant	Exercise/Loan price per share AUD		Share price at acceptance date AUD		Expected share price volatility	Life⁽¹⁾	Dividend yield	Risk-free interest rate
34b	2017		2.82		1.24	51.13%	4.6 yrs	0%	2.16%
36	2017		1.33		2.32	51.63%	5.5 yrs	0%	2.15%
36a	2017		1.21		2.32	51.63%	5.5 yrs	0%	2.15%
36b	2017		1.67		2.32	51.63%	5.6 yrs	0%	2.15%

(1)	Expected life after factoring likely early exercise.

The closing share market price of an ordinary share of Mesoblast Limited on the ASX as of June 30, 2017 was AUD 2.08.

The model inputs for the valuations of options approved and granted during the year ended June 30, 2016 are as follows:

Series	Financial year of grant	Exercise/Loan price per share AUD		Share price at acceptance date AUD		Expected share price volatility	Life⁽¹⁾	Dividend yield	Risk-free interest rate
32	2016		4.22		3.87	40.38%	5.2 yrs	0%	2.22%
33	2016		4.07		3.19	40.38%	5.1 yrs	0%	2.00%
34	2016		2.82		2.41	53.33%	5.0 yrs	0%	2.13%
34a	2016		2.76		2.41	53.33%	5.1 yrs	0%	2.13%
35	2016		2.22		1.05	53.33%	3.0 yrs	0%	1.65%

(1)	Expected life after factoring likely early exercise.

The closing share market price of an ordinary share of Mesoblast Limited on the ASX as of June 30, 2016 was AUD 1.08.

Remuneration of auditors

12 Months Ended

Jun. 30, 2018

Auditors Remuneration [Abstract]

Remuneration of auditors

18. Remuneration of auditors

During the year the following fees were paid or payable for services provided by the auditor of the parent entity, its related practices and non-related audit firms:

	Year Ended June 30,
(in U.S. dollars)	2018		2017		2016
a. PricewaterhouseCoopers Australia
Audit and other assurance services
Audit and review of financial reports		620,837		729,598		437,373
Other audit services⁽¹⁾		92,403		42,306		345,965
Total remuneration of PricewaterhouseCoopers Australia		713,240		771,904		783,338

b. Network firms of PricewaterhouseCoopers Australia
Audit and other assurance services
Audit and review of financial reports		93,839		77,723		95,315
Total remuneration of Network firms of PricewaterhouseCoopers Australia		93,839		77,723		95,315
Total auditors' remuneration⁽²⁾		807,079		849,627		878,653

(1)	Audit and review of financial reports and registration statements in connection with the United States initial public offering, filing on Form S-8, F-3 and related Australian prospectuses.

(2)	All services provided are considered audit services for the purpose of SEC classification.

Losses per share

12 Months Ended

Jun. 30, 2018

Earnings Per Share [Abstract]

Losses per share

19. Losses per share

	Year Ended June 30,
	2018			2017			2016
Losses per share
(in cents)
(a) Basic losses per share
From continuing operations attributable to the ordinary equity holders of the company		(7.58	)		(19.25	)		(1.13	)
Total basic losses per share attributable to the ordinary equity holders of the company		(7.58	)		(19.25	)		(1.13	)

(b) Diluted losses per share
From continuing operations attributable to the ordinary equity holders of the company		(7.58	)		(19.25	)		(1.13	)
Total basic losses per share attributable to the ordinary equity holders of the company		(7.58	)		(19.25	)		(1.13	)

(c) Reconciliation of losses used in calculating losses per share
(in U.S. dollars, in thousands)
Basic losses per share
Losses attributable to the ordinary equity holders of the company used in calculating basic losses per share:
From continuing operations		(35,290	)		(76,815	)		(4,127	)

Diluted losses per share
Losses from continuing operations attributable to the ordinary equity holders of the company:
Used in calculating basic losses per share		(35,290	)		(76,815	)		(4,127	)
Losses attributable to the ordinary equity holders of the company used in calculating diluted losses per share		(35,290	)		(76,815	)		(4,127	)

	2018 Number			2017 Number			2016 Number
Weighted average number of ordinary shares used as the denominator in calculating basic losses per share		465,688,997			399,042,172			364,208,554
Weighted average number of ordinary shares and potential ordinary shares used in calculating diluted losses per share		465,688,997			399,042,172			364,208,554

Options granted to employees (see Note 17) are considered to be potential ordinary shares. These securities have been excluded from the determination of basic losses per shares. They have also been excluded from the calculation of diluted losses per share because they are anti-dilutive for the years ended June 30, 2018, 2017 and 2016. Shares that may be paid as contingent consideration (see Note 13(b)) have also been excluded from basic losses per share. They have also been excluded from the calculation of diluted losses per share because they are anti-dilutive for the years ended June 30, 2018, 2017 and 2016.

The calculations for the years ended June 20, 2018, 2017 and 2016 have been adjusted to reflect the bonus element in the entitlement offer to existing eligible shareholders which occurred during September 2017.

Parent entity financial information

12 Months Ended

Jun. 30, 2018

Disclosure Of Parent Entity Financial Information [Abstract]

Parent entity financial information

20. Parent entity financial information

a.	Summary financial information

The parent entity financial information disclosure is an Australian Disclosure Requirement as required by Corporations Regulations 2001. The individual financial statements for the parent entity show the following aggregate amounts:

	As of June 30,
(in U.S. dollars, in thousands)	2018			2017
Balance Sheet
Current Assets		19,499			7,276
Total Assets		676,385			666,357

Current Liabilities		6,086			6,400
Total Liabilities		6,186			6,815

Shareholders' Equity
Issued Capital		889,480			830,424
Reserves
Foreign Currency Translation Reserve		(174,948	)		(146,840	)
Share Options Reserve		61,320			55,265
(Accumulated losses)		(105,653	)		(79,307	)
		670,199			659,542

Loss for the period		(26,346	)		(24,216	)
Total comprehensive loss for the period		(26,346	)		(24,216	)

b.	Contingent liabilities of the parent entity

(i) Central Adelaide Local Health Network Incorporated (“CALHNI”) (formerly Medvet)

Mesoblast Limited acquired certain intellectual property relating to our MPCs, or Medvet IP, pursuant to an Intellectual Property Assignment Deed, or IP Deed, with Medvet Science Pty Ltd, or Medvet. Medvet’s rights under the IP Deed were transferred to Central Adelaide Local Health Network Incorporated, or CALHNI, in November 2011. In connection with its use of the Medvet IP, on completion of certain milestones Mesoblast Limited will be obligated to pay CALHNI, as successor in interest to Medvet, (i) certain aggregated milestone payments of up to $2.2 million and single-digit royalties on net sales of products covered by the Medvet IP, for cardiac muscle and blood vessel applications and bone and cartilage regeneration and repair applications, subject to minimum annual royalties beginning in the first year of commercial sale of those products and (ii) single-digit royalties on net sales of the specified products for applications outside the specified fields.

Segment information	12 Months Ended
Segment information	Jun. 30, 2018
Disclosure Of Operating Segments [Abstract]
Segment information	21. Segment information Operating segments are identified on the basis of whether the allocation of resources and/or the assessment of performance of a particular component of the Company’s activities are regularly reviewed by the Company’s chief operating decision maker as a separate operating segment. By these criteria, the activities of the Company are considered to be one segment being the development of adult stem cell technology platform for commercialization, and the segmental analysis is the same as the analysis for the Company as a whole. The chief operating decision maker (Chief Executive Officer) reviews the consolidated income statement, balance sheet, and statement of cash flows regularly to make decisions about the Company’s resources and to assess overall performance.

Summary of Significant Accounting Policies

12 Months Ended

Jun. 30, 2018

Disclosure Of Summary Of Significant Accounting Policies [Abstract]

Summary of significant accounting policies

22. Summary of significant accounting policies

This note provides the principal accounting policies adopted in the preparation of these consolidated financial statements as set out below. These policies have been consistently applied to all the years presented, unless otherwise stated. The financial statements are for the consolidated entity consisting of Mesoblast Limited and its subsidiaries.

a.	Principles of consolidation

i.	Subsidiaries

The consolidated financial statements incorporate the assets and liabilities of all subsidiaries of Mesoblast Limited (“Company” or “Parent Entity”) as of June 30, 2018 and the results of all subsidiaries for the year then ended. Mesoblast Limited and its subsidiaries together are referred to in this financial report as the Group or the consolidated entity.

Subsidiaries are all entities (including structured entities) over which the Group has control. The Group controls an entity when the Group is exposed to, or has rights to, variable returns from its involvement with the entity and has the ability to affect those returns through its power to direct the activities of the entity.

Subsidiaries are fully consolidated from the date on which control is transferred to the Group. They are deconsolidated from the date that control ceases.

The acquisition method of accounting is used to account for business combinations by the Group.

Intercompany transactions, balances and unrealized gains on transactions between Group companies are eliminated. Unrealized losses are also eliminated unless the transaction provides evidence of the impairment of the asset transferred. Accounting policies of subsidiaries have been changed where necessary to ensure consistency with the policies adopted by the Group.

ii.	Employee share trust

The Group has formed a trust to administer the Group’s employee share scheme. This trust is consolidated, as the substance of the relationship is that the trust is controlled by the Group.

b.	Segment reporting

The Group predominately operates in one segment as set out in Note 21.

c.	Foreign currency translation

(i)	Functional and presentation currency

Items included in the financial statements of each of the Group’s entities are measured using the currency of the primary economic environment in which the entity operates (the “functional currency”). The functional currency of Mesoblast Limited is the AUD. The consolidated financial statements are presented in USD, which is the Group’s presentation currency.

(ii)	Translations and balances

Foreign currency transactions are translated into the functional currency using the exchange rates prevailing at the dates of the transactions. Foreign exchange gains and losses resulting from the settlement of such transactions and from the transaction at period end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognized in net loss, except when they are deferred in equity as qualifying cash flow hedges and qualifying net investment hedges or attributable to part of the net investment in a foreign operation.

Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. Translation differences on assets and liabilities carried at fair value are reported as part of the fair value gain or loss. For example, translation differences on non-monetary assets and liabilities such as equities held at fair value through profit or loss are recognized in net loss as part of the fair value gain or loss and translation differences on non-monetary assets such as equities classified as available for sale financial assets are recognized in other comprehensive income.

(iii)

Group companies

The results and financial position of all the Group entities (none of which has the currency of a hyperinflationary economy) that have a functional currency different from the presentation currency are translated into the presentation currency as follows:

•

assets and liabilities for the balance sheets presented are translated at the closing rate at the date of that balance sheets;

•

income and expenses for the statements of comprehensive income are translated at average exchange rates (unless this is not a reasonable approximation of the cumulative effect of the rates prevailing on the transaction dates, in which case income and expenses are translated at the dates of the transactions); and all resulting exchange differences are recognized in other comprehensive income.

(iv)

Other

On consolidation, exchange differences arising from the translation of any net investment in foreign entities, and of borrowings and other financial instruments designated as hedges of such investments, are recognized in other comprehensive income. When a foreign operation is sold or any borrowings forming part of the net investment are repaid, the associated exchange differences are reclassified to net loss, as part of the gain or loss on sale.

Goodwill and fair value adjustments arising on the acquisition of a foreign entity are treated as assets and liabilities of the foreign entities and translated at the closing rate.

d.	Revenue recognition

Revenue is measured at the fair value of the consideration received or receivable. Amounts disclosed as revenue are net of returns, trade allowances, rebates and amounts collected on behalf of third parties.

The Group recognizes revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the Group’s activities as described below. The Group bases its estimates on historical results, taking into consideration the type of customer, the type of transaction and the specifics of each arrangement.

Revenue is recognized for the major business activities as follows:

(i)	Commercialization and milestone revenue

Commercialization and milestone revenue generally includes non-refundable up-front license and collaboration fees; milestone payments, the receipt of which is dependent upon the achievement of certain clinical, regulatory or commercial milestones; as well as royalties on product sales of licensed products, if and when such product sales occur; and revenue from the supply of products.

Where such arrangements can be divided into separately identifiable components (each component constituting a separate earnings process), the arrangement consideration is allocated to the different components based on their relative fair values and recognized over the respective performance period in accordance with IAS 18 Revenue. Where the components of the arrangement cannot be divided into separate units, the individual deliverables are combined as a single unit of accounting and the total arrangement consideration is recognized over the estimated collaboration period. Such analysis requires considerable estimates and judgments to be made by us, including the relative fair values of the various elements included in such agreements and the estimated length of the respective performance periods.

Amounts received prior to satisfying the revenue recognition criteria are recorded as deferred revenue in our consolidated balance sheets. Amounts expected to be recognized as revenue within the 12 months following the balance sheet date are classified as deferred revenue, within current liabilities. Amounts not expected to be recognized as revenue within the 12 months following the balance sheet date are classified as deferred revenue, within non-current liabilities.

TiGenix arrangement

In December 2017, the Group entered into a patent license agreement with TiGenix NV, now a wholly owned subsidiary of Takeda Pharmaceutical Company Limited (“Takeda”), which granted Takeda exclusive access to certain of our patents to support global commercialization of the adipose-derived mesenchymal stem cell product, Alofisel®, previously known as Cx601, a product candidate of Takeda, for the local treatment of fistulae. The agreement includes the right for Takeda to grant sub-licenses to affiliates and third parties.

As part of the agreement, the Group received $5.9 million (€5.0 million) as a non-refundable up-front payment. The Group is entitled to further payments of €5.0 million within 12 months of the patent license agreement date, and up to €10.0 million when Takeda reaches certain product regulatory milestones. Additionally, the Group will receive single digit royalties on net sales of Alofisel®.

In the year ended June 30, 2018, the Group recognized $11.8 million in milestone revenue in relation to the Group’s patent license agreement with Takeda. Within this $11.8 million, $5.9 million (€5.0 million) was recognized in relation to the non-refundable up-front payment received upon execution of the Group’s patent license agreement with Takeda in December 2017 and $5.9 million (€5.0 million) was recognized in relation to further payments due within 12 months of the patent license agreement date for product Alofisel®. These amounts were recorded in revenue as there are no further performance obligations required in regards to these milestones.

On the basis that this agreement was entered into in December 2017, there was no milestone revenue recognized in the year ended June 30, 2017 in relation to this agreement.

JCR arrangement

In October 2013, the Group acquired all of Osiris’ culture-expanded, MSC-based assets. These assets included assumption of a collaboration agreement with JCR, a research and development oriented pharmaceutical company in Japan. Revenue recognized under this model is limited to the amount of cash received or for which the Group is entitled to, as JCR has the right to terminate the agreement at any time.

JCR is responsible for all development and manufacturing costs including sales and marketing expenses. Under the JCR Agreement, JCR has the right to develop the Group’s MSCs in two fields for the Japanese market: exclusive in conjunction with the treatment of hematological malignancies by the use of hematopoietic stem cells derived from peripheral blood, cord blood or bone marrow, or the First JCR Field; and non-exclusive for developing assays that use liver cells for non-clinical drug screening and evaluation, or the Second JCR Field. With respect to the First JCR Field, the Group is entitled to payments when JCR reaches certain development and commercial milestones and to escalating double-digit royalties. These royalties are subject to possible renegotiation downward in the event of competition from non-infringing products in Japan. With respect to the Second JCR Field, the Group is entitled to a double digit profit share. Royalty revenue is recognized upon the sale of the related products provided the Group has no remaining performance obligations under the arrangement.

For the years ended June 30, 2018 and 2017, the Group recognized $3.6 million and $1.4 million, respectively, in commercialization revenue relating to royalty income earned on sales of TEMCELL in Japan, by our licensee JCR. These amounts were recorded in revenue as there are no further performance obligations required in regards to these items.

For the year ended June 30, 2018, the Group recognized $1.5 million in cumulative net sales milestone revenue upon licensee, JCR, reaching milestones for sales of TEMCELL in Japan. For the year ended June 30, 2017, the Group recognized $0.5 million of milestone revenue from JCR. These amounts were recorded in revenue as there are no further performance obligations required in regards to these item.

(ii)	Interest revenue

Interest revenue is accrued on a time basis by reference to the principal outstanding and at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset’s net carrying amount.

(iii)

Research and development tax incentive

The Australian Government replaced the research and development tax concession with the research and development tax incentive from July 1, 2011. The provisions provide refundable or non-refundable tax offsets.

The research and development tax incentive applies to expenditure incurred and the use of depreciating assets in an income year commencing on or after July 1, 2011. The research and development tax incentive credit is available for our research and development activities in Australia as well as research and development activities outside of Australia to the extent such non-Australian based activities relate to intellectual property owned by our Australian resident entities do not exceed half the expenses for the relevant activities and are approved by the Australian government. A refundable tax offset is available to eligible companies with an annual aggregate turnover of less than A$20.0 million. Eligible companies can receive a refundable tax offset for a percentage of their research and development spending. For the years ended June 30, 2018 and 2017, the rate of the refundable tax offset is 43.5%. The Group recognized income of $1.8 million and $1.5 million, from the Research and Development Tax Incentive program for the years ended June 30, 2018 and 2017, respectively.

The Group’s research and development activities are eligible under an Australian government tax incentive for eligible expenditure from July 1, 2011. Management has assessed these activities and expenditure to determine which are likely to be eligible under the incentive scheme. At each period end management estimates and recognizes the refundable tax offset available to the Group based on available information at the time.

The receivable for reimbursable amounts that have not been collected is reflected in trade and other receivables in the Group’s consolidated balance sheets. Income associated with the research and development tax incentive is recorded in the Group’s other operating income and expenses in the Group’s consolidated income statement.

e.	Research and development undertaken internally

The Group currently does not have any capitalized development costs. Research expenditure is recognized as an expense as incurred. Costs incurred on development projects, which consist of preclinical and clinical trials, manufacturing development, and general research, are recognized as intangible assets when it is probable that the project will, after considering its commercial and technical feasibility, be completed and generate future economic benefits and its costs can be measured reliably.

The expenditure capitalized comprises all directly attributable costs, including costs of materials, services, direct labor and an appropriate proportion of overheads. Other development costs that do not meet these criteria are expensed as incurred. Development costs previously recognized as expenses, are not recognized as an asset in a subsequent period, and will remain expensed. Capitalized development costs are recorded as intangible assets and amortized from the point at which the asset is ready for use on a straight-line basis over its useful life.

f.	Income tax

The income tax expense or benefit for the period is the tax payable on the current period’s taxable income based on the applicable income tax rate for each jurisdiction adjusted by changes in deferred tax assets and liabilities attributable to temporary differences and to unused tax losses.

The current income tax charge is calculated on the basis of the tax laws enacted or substantively enacted at the end of the reporting period in the countries where the Group’s subsidiaries and associates operate and generate taxable income. Management periodically evaluates positions taken in tax returns with respect to situations in which applicable tax regulation is subject to interpretation. It establishes provisions where appropriate on the basis of amounts expected to be paid to the tax authorities.

Deferred income tax is provided in full, using the liability method, on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the consolidated financial statements. However, the deferred income tax is not accounted for if it arises from initial recognition of an asset or liability in a transaction other than a business combination that at the time of the transaction affects neither accounting, nor taxable profit or loss. Deferred income tax is determined using tax rates (and laws) that have been enacted or substantially enacted by the end of the reporting period and are expected to apply when the related deferred income tax asset is realized or the deferred income tax liability is settled.

Deferred tax assets are recognized for deductible temporary differences and unused tax losses only if it is probable that future taxable amounts will be available to utilize those temporary differences and losses. Deferred tax assets are only recognized to the extent that there are sufficient deferred tax liabilities unwinding.

Deferred tax liabilities and assets are not recognized for temporary differences between the carrying amount and tax bases of investments in controlled entities where the parent entity is able to control the timing of the reversal of the temporary differences and it is probable that the differences will not reverse in the foreseeable future.

Deferred tax assets and liabilities are offset when there is a legally enforceable right to offset current tax assets and liabilities and when the deferred tax balances relate to the same taxation authority. Current tax assets and tax liabilities are offset where the entity has a legally enforceable right to offset and intends either to settle on a net basis, or to realize the asset and settle the liability simultaneously.

Current and deferred tax is recognized in net loss, except to the extent that it relates to items recognized in other comprehensive income or directly in equity. In this case, the tax is also recognized in other comprehensive income or directly in equity, respectively.

Leases

Leases in which a significant portion of the risks and rewards of ownership are not transferred to the Group as lessee are classified as operating leases (Note 14). Payments made under operating leases (net of any incentives received from the lessor) are charged to profit or loss on a straight-line basis over the period of the lease.

Lease income from operating leases where the Group is sub-leasing to a third party is recognized in income on a straight-line basis over the lease term.

h.	Business combinations

The acquisition method of accounting is used to account for all business combinations, regardless of whether equity instruments or other assets are acquired. The consideration transferred for the acquisition of a subsidiary comprises the fair values of the assets transferred, the liabilities incurred and the equity interests issued by the Group. The consideration transferred also includes the fair value of any asset or liability resulting from a contingent consideration arrangement and the fair value of any pre-existing equity interest in the subsidiary. Acquisition-related costs are expensed as incurred. Identifiable assets acquired and liabilities and contingent liabilities assumed in a business combination are, with limited exceptions, measured initially at their fair values at the acquisition date. On an acquisition-by-acquisition basis, the Group recognizes any noncontrolling interest in the acquiree either at fair value or at the non-controlling interest’s proportionate share of the acquiree’s net identifiable assets.

The excess of the consideration transferred and the amount of any non-controlling interest in the acquiree over the fair value of the net identifiable assets acquired is recorded as goodwill. If those amounts are less than the fair value of the net identifiable assets of the subsidiary acquired and the measurement of all amounts has been reviewed, the difference is recognized directly in net loss as a bargain purchase.

Where settlement of any part of cash consideration is deferred, the amounts payable in the future are discounted to their present value as at the date of exchange. The discount rate used is the entity’s incremental borrowing rate, being the rate at which a similar borrowing could be obtained from an independent financier under comparable terms and conditions.

Contingent consideration is classified either as equity or a financial liability. Amounts classified as a financial liability are subsequently remeasured to fair value with changes in fair value recognized in profit or loss.

i.	Impairment of assets

Goodwill and intangible assets that have an indefinite useful life are not subject to amortization and are tested annually for impairment or more frequently if events or changes in circumstances indicate that they might be impaired. Other assets are tested for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable.

An impairment loss is recognized for the amount by which the asset’s carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset’s fair value less costs to dispose and value in use. For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash inflows which are largely independent of the cash inflows from other assets or groups of assets (cash-generating units). Non-financial assets (other than goodwill) that have suffered impairment are reviewed for possible reversal of the impairment at the end of each reporting period.

j.	Cash and cash equivalents

For the purpose of presentation in the statement of cash flows, cash and cash equivalents includes cash on hand, deposits held at call with financial institutions, other short-term and highly liquid investments with original maturities of three months or less that are readily convertible to known amounts of cash and which are subject to an insignificant risk of changes in value.

k.	Trade and other receivables

Trade receivables and other receivables represent the principal amounts due at balance date less, where applicable, any provision for doubtful debts. An estimate for doubtful debts is made when collection of the full amount is no longer probable and there is objective evidence of impairment. Debts which are known to be uncollectible are written off in the statement of comprehensive income. All trade receivables and other receivables are recognized at the value of the amounts receivable, as they are due for settlement within 60 days and therefore do not require remeasurement.

l.	Investments and other financial assets

(i)	Classification

The Group classifies its financial assets in the following categories:

•

financial assets at fair value through profit or loss,

•

available-for-sale financial assets,

•

loans and receivables, and

•

held-to-maturity investments.

The classification depends on the purpose for which the investments were acquired. Management determines the classification of its investments at initial recognition and, in the case of assets classified as held-to-maturity, re-evaluates this designation at the end of each reporting period. See Note 5 for details about each type of financial asset.

(ii)	Reclassification

The Group may choose to reclassify a non-derivative trading financial asset out of the held for trading category if the financial asset is no longer held for the purpose of selling it in the near term. Financial assets other than loans and receivables are permitted to be reclassified out of the held for trading category only in rare circumstances arising from a single event that is unusual and highly unlikely to recur in the near term. In addition, the Group may choose to reclassify financial assets that would meet the definition of loans and receivables out of the held for trading or available-for-sale categories if the Group has the intention and ability to hold these financial assets for the foreseeable future or until maturity at the date of reclassification

Reclassifications are made at fair value as of the reclassification date. Fair value becomes the new cost or amortized cost as applicable, and no reversals of fair value gains or losses recorded before reclassification date are subsequently made. Effective interest rates for financial assets reclassified to loans and receivables and held-to-maturity categories are determined at the reclassification date. Further increases in estimates of cash flows adjust effective interest rates prospectively.

(iii)

Recognition and derecognition

Regular way purchases and sales of financial assets are recognized on trade-date, the date on which the Group commits to purchase or sell the asset. Financial assets are derecognized when the rights to receive cash flows from the financial assets have expired or have been transferred and the Group has transferred substantially all the risks and rewards of ownership.

When securities classified as available-for-sale are sold, the accumulated fair value adjustments recognized in other comprehensive income are reclassified to profit or loss as gains and losses from investment securities.

(iv)	Measurement

At initial recognition, the Group measures a financial asset at its fair value plus, in the case of a financial asset not at fair value through profit or loss, transaction costs that are directly attributable to the acquisition of the financial asset. Transaction costs of financial assets carried at fair value through profit or loss are expensed in profit or loss.

Loans and receivables and held-to-maturity investments are subsequently carried at amortized cost using the effective interest method. Available-for-sale financial assets and financial assets at fair value through profit or loss are subsequently carried at fair value. Gains or losses arising from changes in the fair value are recognized as follows:

•

for ‘financial assets at fair value through profit or loss’ – in profit or loss within other income or other expenses

•

for available for sale financial assets that are monetary securities denominated in a foreign currency – translation differences related to changes in the amortized cost of the security are recognized in profit or loss and other changes in the carrying amount are recognized in other comprehensive income

•

for other monetary and non-monetary securities classified as available for sale in other comprehensive income.

Dividends on financial assets at fair value through profit or loss and available-for-sale equity instruments are recognized in profit or loss as part of revenue from continuing operations when the Group’s right to receive payments is established.

Interest income from financial assets at fair value through profit or loss is included in the net gains/(losses). Interest on available-for-sale securities calculated using the effective interest method is recognized in the income statement as part of revenue from continuing operations.

Details on how the fair value of financial instruments is determined are disclosed in Note 5(g).

(v)	Impairment

The Group assesses at the end of each reporting period whether there is objective evidence that a financial asset or a group of financial assets is impaired. A financial asset or a group of financial assets is impaired and impairment losses are incurred only if there is objective evidence of impairment as a result of one or more events that occurred after the initial recognition of the asset (a ‘loss event’) and that loss event (or events) has an impact on the estimated future cash flows of the financial asset or group of financial assets that can be reliably estimated. In the case of equity investments classified as available-for-sale, a significant or prolonged decline in the fair value of the security below its cost is considered an indicator that the assets are impaired.

Assets carried at amortized cost

For loans and receivables, the amount of the loss is measured as the difference between the asset’s carrying amount and the present value of estimated future cash flows (excluding future credit losses that have not been incurred) discounted at the financial asset’s original effective interest rate. The carrying amount of the asset is reduced and the amount of the loss is recognized in profit or loss. If a loan or held-to-maturity investment has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract. As a practical expedient, the Group may measure impairment on the basis of an instrument’s fair value using an observable market price.

If, in a subsequent period, the amount of the impairment loss decreases and the decrease can be related objectively to an event occurring after the impairment was recognized (such as an improvement in the debtor’s credit rating), the reversal of the previously recognized impairment loss is recognized in profit or loss.

Assets classified as available-for-sale

If there is objective evidence of impairment for available-for-sale financial assets, the cumulative loss –measured as the difference between the acquisition cost and the current fair value, less any impairment loss on that financial asset previously recognized in profit or loss – is removed from equity and recognized in profit or loss.

Impairment losses on equity instruments that were recognized in profit or loss are not reversed through profit or loss in a subsequent period.

If the fair value of a debt instrument classified as available-for-sale increases in a subsequent period and the increase can be objectively related to an event occurring after the impairment loss was recognized in profit or loss, the impairment loss is reversed through profit or loss

m.	Derivatives

Derivatives are initially recognized at fair value on the date a derivative contract is entered into and are subsequently remeasured to their fair value at the end of each reporting period.

Derivatives that do not qualify for hedge accounting

Certain derivative instruments do not qualify for hedge accounting. Changes in the fair value of any derivative instrument that does not qualify for hedge accounting are recognized immediately in profit or loss and are included in other income or other expenses.

n.	Property, plant and equipment

Plant and equipment are stated at historical cost less accumulated depreciation and impairment. Cost includes expenditure that is directly attributable to the acquisition of the item.

Subsequent cost are included in the asset’s carrying amount or recognized as a separate asset, as appropriate, only when it is probable that future economic benefits associates with the item will flow to the Group and the cost of the item can be measured reliably. All other repairs and maintenance are charged to profit and loss during the reporting period in which they are incurred.

Property, plant and equipment, other than freehold land, are depreciated over their estimated useful lives using the straight line method (see Note 6(a)).

The assets’ residual values and useful lives are reviewed, and adjusted if appropriate, at the end of each reporting period.

An asset’s carrying amount is written down immediately to its recoverable amount if the asset’s carrying amount is greater than its estimated recoverable amount.

Gains and losses on disposal of plant and equipment are taken into account in determining the profit for the year.

o.	Intangible assets

(i)

Goodwill

Goodwill is measured as described in Note 22(h). Goodwill on acquisition of subsidiaries is included in intangible assets (Note 6(b)). Goodwill is not amortized but it is tested for impairment annually or more frequently if events or changes in circumstances indicate that it might be impaired, and is carried at cost less accumulated impairment losses. Gains and losses on the disposal of an entity include the carrying amount of goodwill relating to the entity sold.

Goodwill is allocated to cash generating units for the purpose of impairment testing. The allocation is made to those cash generating units or groups of cash generating units that are expected to benefit from the business combination in which the goodwill arose, identified according to operating segments (Note 21).

(ii)	Trademarks and licenses

Trademarks and licenses have a finite useful life and are carried at cost less accumulated amortization and impairment losses.

(iii)

In-process research and development acquired

In-process research and development that has been acquired as part of a business acquisition is considered to be an indefinite life intangible asset on the basis that it is incomplete and cannot be used in its current form. Indefinite life intangible assets are not amortized but rather are tested for impairment annually in the fourth quarter of each year, or whenever events or circumstances present an indication of impairment.

In-process research and development will continue to be tested for impairment until the related research and development efforts are either completed or abandoned. Upon completion of the related research and development efforts, management determines the remaining useful life of the intangible assets and amortizes them accordingly. In order for management to determine the remaining useful life of the asset, management would consider the expected flow of future economic benefits to the entity with reference to the product life cycle, competitive landscape, obsolescence, market demand, any remaining patent useful life and various other relevant factors.

In the case of abandonment, the related research and development efforts are considered impaired and the asset is fully expensed.

(iv)	Current marketed products

Current marketed products contain products that are currently being marketed. The assets are recognized on our balance sheet as a result of business acquisitions or reclassifications from In-process research and development upon completion. Upon completion, when assets become available for use, assets are reclassified from in-process research and development to current marketed products at the historical value that they were recognized at within the in-process research and development category.

Upon reclassification to the current market products category management determines the remaining useful life of the intangible assets and amortizes them from the date they become available for use. In order for management to determine the remaining useful life of the asset, management would consider the expected flow of future economic benefits to the entity with reference to the product life cycle, competitive landscape, obsolescence, market demand, any remaining patent useful life and any other relevant factors.

Management have chosen to amortize all intangible assets with a finite useful life on a straight-line basis over the useful life of the asset. Current marketed products are tested for impairment in accordance with IAS 36 Impairment of Assets which requires testing whenever there is an indication that an asset may be impaired.

p.	Trade and other payables

Payables represent the principal amounts outstanding at balance date plus, where applicable, any accrued interest. Liabilities for payables and other amounts are carried at cost which approximates fair value of the consideration to be paid in the future for goods and services received, whether or not billed. The amounts are unsecured and are usually paid within 30 to 60 days of recognition.

q.	Borrowings

Borrowings are initially recognized at fair value, net of transaction costs incurred. Borrowings are subsequently measured at amortized cost. Any difference between the proceeds (net of transaction costs) and the redemption amount is recognized in profit or loss over the period of the borrowings using the effective interest method. Fees paid on the establishment of loan facilities are recognized as transaction costs of the loan to the extent that it is probable that some or all of the facility will be drawn down. If it is not probable, the fee is deferred until the draw down occurs. To the extent there is no evidence that it is probable that some or all of the facility will be drawn down, the fee is capitalized as a prepayment for liquidity services and amortized over the period of the facility to which it relates.

Borrowings are removed from the balance sheet when the obligation specified in the contract is discharged, cancelled or expired. The difference between the carrying amount of a financial liability that has been extinguished or transferred to another party and the consideration paid, including any non-cash assets transferred of liabilities assumed, is recognized in profit or loss as other income or finance costs.

Borrowings are classified as current liabilities unless the Group has an unconditional right to defer settlement of the liability for at least 12 months after the reporting period.

Hercules

On March 6, 2018, the Group entered into a loan and security agreement with Hercules, for a $75.0 million non-dilutive, four-year credit facility. The Group drew the first tranche of $35.0 million on closing. An additional $40.0 million may be drawn as certain milestones are met. The loan matures in March 2022 with principal repayments commencing in October 2019 with the ability to defer the commencement of principal repayments to October 2020 if certain milestones are met. Interest on the loan is payable monthly in arrears on the 1^st day of the month. At closing date, the interest rate was 9.45%. On June 14, 2018, in line with the increase in the U.S. prime rate, the interest rate on the loan increased to 9.95%.

NovaQuest

The carrying amount of the loan is subordinated to the senior creditor, Hercules.

r.	Provisions

Provisions are recognized when the Group has a present legal obligation as a result of a past event, it is probable that the Group will be required to settle the obligation, and a reliable estimate can be made of the amount of the obligation.

Provisions are measured at the present value of management’s best estimate of the expenditure required to settle the present obligation at the end of the reporting period. The discount rate used to determine the present value is a pre-tax rate that reflects current market assessments of the time value of money and the risks specific to the liability. The increase in the provision due to the passage of time is recognized as interest expense.

Provisions are recorded on acquisition of a subsidiary, to the extent they relate to a subsidiary’s contingent liabilities, if it relates to a past event, regardless of whether it is probable the amount will be paid.

s.	Employee benefits

A liability is recognized for benefits accruing to employees in respect of wages and salaries, bonuses, annual leave and long service leave.

Liabilities recognized in respect of employee benefits which are expected to be settled within 12 months after the end of the period in which the employees render the related services are measured at their nominal values using the remuneration rates expected to apply at the time of settlement.

Liabilities recognized in respect of employee benefits which are not expected to be settled within 12 months after the end of the period in which the employees render the related services are measured as the present value of the estimated future cash outflows to be made by the Group in respect of services provided by employees up to reporting date.

The obligations are presented as current liabilities in the balance sheet if the entity does not have an unconditional right to defer settlement for at least twelve months after the reporting period, regardless of when the actual settlement is expected to occur.

Termination benefits are payable when employment is terminated by the Group before the normal retirement date, or when an employee accepts voluntary redundancy in exchange for these benefits. The Group recognizes termination benefits at the earlier of the following dates: when the Group can no longer withdraw the offer of those benefits and when the entity recognizes costs for a restructuring that is within the scope of IAS 37 and involves the payment of termination benefits.

t.	Share-based payments

Share-based payments are provided to eligible employees, directors and consultants via the Employee Share Option Plan (“ESOP”) and the Australian Loan Funded Share Plan (“LFSP”). The terms and conditions of the LFSP are in substance the same as the employee share options and therefore they are accounted for on the same basis.

Equity-settled share-based payments with employees and others providing similar services are measured at the fair value of the equity instrument at acceptance date. Fair value is measured using the Black-Scholes model. The expected life used in the model has been adjusted, based on management’s best estimate, for the effects of non-transferability, exercise restrictions, and behavioral considerations. It does not make any allowance for the impact of any service and non-market performance vesting conditions. Further details on how the fair value of equity-settled share-based transactions has been determined can be found in Note 17.

The fair value determined at the acceptance date of the equity-settled share-based payments is expensed on a straight-line basis over the vesting period, based on management’s estimate of shares that will eventually vest, with a corresponding increase in equity. At the end of each period, the entity revises its estimates of the number of shared-based payments that are expected to vest based on the non-market vesting conditions. It recognizes the impact of the revision to original estimates, if any, in profit or loss, with a corresponding adjustment to equity.

u.	Contributed equity

Ordinary shares are classified as equity.

Transaction costs arising on the issue of equity instruments are recognized separately in equity. Transaction costs are the costs that are incurred directly in connection with the issue of those equity instruments and which would not have been incurred had those instruments not been issued.

v.	Loss per share

(i)	Basic losses per share

Basic losses per share is calculated by dividing:

•

the loss attributable to equity holders of the Group, excluding any costs of servicing equity other than ordinary shares;

•

by the weighted average number of ordinary shares outstanding during the fiscal year, adjusted for bonus elements in ordinary shares issued during the year.

(ii)	Diluted losses per share

Diluted losses per share adjusts the figures used in the determination of basic earnings per share to take into account

•

the after income tax effect of interest and other financing costs associated with dilutive potential ordinary shares; and

•

the weighted average number of shares assumed to have been issued for no consideration in relation to dilutive potential ordinary shares.

w.	Goods and services tax (“GST”)

Revenues, expenses and assets are recognized net of the amount of GST except where the GST incurred on a purchase of goods and services is not recoverable from the taxation authority, in which case the GST is recognized as part of the cost of acquisition of the asset or as part of the expense.

Receivables and payables are stated with the amount of GST included. The net amount of GST recoverable from, or payable to, the taxation authority is included as part of receivables or payables in the Balance Sheet.

Cash flows are included in the statement of cash flow on a gross basis. The GST component of cash flows arising from investing and financing activities, which is recoverable from, or payable to, the taxation authority, are classified as operating cash flows.

x.	Rounding of amounts

Amounts in the financial statements have been rounded off to the nearest thousand dollars, or in certain cases, the nearest dollar, unless mentioned otherwise.

Summary of Significant Accounting Policies (Policies)

12 Months Ended

Jun. 30, 2018

Disclosure Of Summary Of Significant Accounting Policies [Abstract]

Basis of Preparation

1. Basis of preparation

(i)	Going concern

(ii)Historical cost convention

(iii)

New and amended standards adopted by the Group

There were no new or amended accounting standards that were applicable to the Group for the June 30, 2018 reporting period.

(iv)	New accounting standards and interpretations not yet adopted

The following standards applicable to the Group but are not yet adopted are summarized below:


Title of standard	IFRS 9 Financial Instruments
Key requirements	IFRS 9 introduced revisions in the following areas: • Classification and measurement – replacement of the existing complex rule-based requirements with a principle-based approach which is driven by cash flow characteristics and business model. • Impairment – a single impairment model to be applied to all financial instruments where expected credit losses must be accounted for from when the financial instruments are first recognized. This requirement lowers the threshold for recognition of full lifetime expected losses. • Hedge accounting – a reformed model for hedge accounting with enhanced disclosures about risk management activity.
Impact	The Group has reviewed its financial assets and liabilities and expects the following impact from the adoption of the new standard from July 1, 2018: • Accounting for non-trading equity investments – IFRS 9 requires investments in equity instruments to be recorded at fair value with changes recognized through profit or loss (FVTPL). There is an allowance for management to make an irrevocable election on initial recognition for fair value changes in non-trading equity investments to be recorded in other comprehensive income (FVOCI). The Group has an available-for-sale financial asset recorded at $2.3 million as at June 30, 2018, measured at FVOCI. On transition to IFRS 9 on July 1, 2018, the Group expects to make an election to record this investment in an equity instrument at FVOCI. Therefore, no material impact is expected on the measurement of the AFS financial asset on transition. • Accounting for financial liabilities – the Group has financial liabilities arising from contingent consideration of $42.1 million as at June 30, 2018, which is mandatorily carried at FVTPL, and financial liabilities carried at amortized cost of $59.4 million as at June 30, 2018. There is an allowance for management to make an irrevocable election on initial recognition for financial liabilities that are measured at amortized cost to be measured at FVTPL. The Group does not expect to designate any of its financial liabilities carried at amortized cost as FVTPL using the fair value option upon adoption of IFRS 9 on July 1, 2018. Therefore, the Group does not expect any material impact on transition to IFRS 9 from July 1, 2018.
Effective Date	IFRS 9 must be applied for financial years commencing on or after January 1, 2018. The Group has not adopted IFRS 9 before its mandatory date.


Title of standard	IFRS 15 Revenue from Contracts with Customers
Key requirements	IFRS 15 provides a single, principles based five-step model to be applied to all contracts with customers. The five steps in the model are as follows: • Identify the contract with the customer • Identify the performance obligations in the contract • Determine the transaction price • Allocate the transaction price to the performance obligations in the contracts • Recognize revenue when (or as) the entity satisfies a performance obligation. Guidance is provided on topics such as the point in which revenue is recognized, accounting for variable consideration, costs of fulfilling and obtaining a contract and various related matters. New disclosures about revenue are also introduced.
Impact	The Group has reviewed all relevant revenue arrangements and expects the following effects of applying the new standard on the Group’s financial statements: • Accounting for sales- or usage-based royalties – IFRS 15 contains an exception to the general principles for accounting for variable consideration for sales- or usage-based royalties arising from licenses of IP. Under this exception, royalties are recognized at the later of when underlying sales occur and all royalty-related performance obligations are satisfied. In the year ended June 30, 2018, the Group earned sales-based royalty and milestone income from licensing arrangement with JCR Pharmaceuticals Co., Ltd. (“JCR”) of $5.1 million. The Group estimates that the impact of applying the sales- or usage-based royalty exception will not have a material impact on transition to IFRS 15 from July 1, 2018. • Accounting for the licensing of intellectual property (“IP”) – IFRS 15 contains specific implementation guidance for the accounting for licenses of IP. In particular, the Group is required to determine whether a license granted to a customer provides a right to use IP or a right to access IP. This determination affects whether revenue is recognized at a point in time or over time, respectively. In the year ended June 30, 2018, the Group recognized milestone revenue relating to the non-refundable up-front payment of $5.9 million (€5.0 million) received upon execution of the Group’s patent license arrangement with Takeda Pharmaceutical Company Limited (“Takeda”) in December 2017 and $5.9 million (€5.0 million) in relation to further payments due within 12 months of the patent license agreement date for the product Alofisel®. The license of IP to Takeda is a license to use under IFRS 15 and therefore revenue is recognized at a point in time as performance obligations are satisfied. Since the performance obligations have been satisfied for the revenue recognized in the year ended June 30, 2018, the Group does not expect a material impact on transition to IFRS 15 on July 1, 2018. • Accounting for contracts with variable consideration – IFRS 15 contains a constraint that allows variable consideration to be included in the transaction price only to the extent that it is highly probable that a significant reversal of cumulative revenue recognized will not occur. Under the patent license arrangement with Takeda, the Group is entitled to up to €10.0 million in payments from Takeda when Alofisel® reaches certain product regulatory milestones. The product regulatory milestones are subject to the constraint over variable consideration and the Group has not recognized consideration in respect of these payments in the calculation of the transaction price for revenue recognized in the year to June 30, 2018. Therefore, we do not expect there to be a material impact on transition to IFRS 15 on July 1, 2018.
Effective Date	IFRS 15 must be applied for financial years commencing on or after January 1, 2018. The Group has not adopted IFRS 15 before its mandatory date and intends to adopt the standard using the modified retrospective approach which means that the cumulative impact of the adoption will be recognized in retained earnings as of July 1, 2018, and comparative disclosures will not be restated.


Title of standard	IFRS 16 Leases
Key requirements	IFRS 16 eliminates the classification of leases as either operating leases or finance leases for a lessee; they are recognized on the balance sheet as they are treated in a similar way to finance leases applying IAS 17. Leases are ‘capitalized’ by recognizing the present value of the lease payments and showing them either as lease assets (right-of-use assets) or together with property, plant and equipment. If lease payments are made over time, a financial liability is required to be recognized to represent the obligation to make future lease payments. There is little change for the accounting for a lessor.
Impact	Refer to Notes 14 (b) and (c) for the lease commitments the Group holds as a lessee and lessor. The Group is currently evaluating the effect that the updated IFRS 16 will have on the consolidated financial statements and related disclosures.
Effective Date	IFRS 16 must be applied on or after January 1, 2019. The Group does not intend to adopt IFRS 16 before its mandatory date.

Principles of consolidation

a.	Principles of consolidation

i.	Subsidiaries

Subsidiaries are fully consolidated from the date on which control is transferred to the Group. They are deconsolidated from the date that control ceases.

The acquisition method of accounting is used to account for business combinations by the Group.

ii.	Employee share trust

The Group has formed a trust to administer the Group’s employee share scheme. This trust is consolidated, as the substance of the relationship is that the trust is controlled by the Group.

Segment reporting

b.	Segment reporting

The Group predominately operates in one segment as set out in Note 21.

Foreign currency translation

c.	Foreign currency translation

(i)	Functional and presentation currency

(ii)	Translations and balances

(iii)

Group companies

•

assets and liabilities for the balance sheets presented are translated at the closing rate at the date of that balance sheets;

•

(iv)

Other

Goodwill and fair value adjustments arising on the acquisition of a foreign entity are treated as assets and liabilities of the foreign entities and translated at the closing rate.

Revenue recognition

d.	Revenue recognition

Revenue is recognized for the major business activities as follows:

(i)	Commercialization and milestone revenue

TiGenix arrangement

On the basis that this agreement was entered into in December 2017, there was no milestone revenue recognized in the year ended June 30, 2017 in relation to this agreement.

JCR arrangement

(ii)	Interest revenue

(iii)

Research and development tax incentive

Research and development undertaken internally

e.	Research and development undertaken internally

Income tax

f.	Income tax

Leases

Lease income from operating leases where the Group is sub-leasing to a third party is recognized in income on a straight-line basis over the lease term.

Business combinations

h.	Business combinations

Impairment of assets

i.	Impairment of assets

Cash and cash equivalents

j.	Cash and cash equivalents

Trade and other receivables

k.	Trade and other receivables

Investments and other financial assets

l.	Investments and other financial assets

(i)	Classification

The Group classifies its financial assets in the following categories:

•

financial assets at fair value through profit or loss,

•

available-for-sale financial assets,

•

loans and receivables, and

•

held-to-maturity investments.

(ii)	Reclassification

(iii)

Recognition and derecognition

(iv)	Measurement

•

for ‘financial assets at fair value through profit or loss’ – in profit or loss within other income or other expenses

•

for other monetary and non-monetary securities classified as available for sale in other comprehensive income.

Details on how the fair value of financial instruments is determined are disclosed in Note 5(g).

(v)	Impairment

Assets carried at amortized cost

Assets classified as available-for-sale

Impairment losses on equity instruments that were recognized in profit or loss are not reversed through profit or loss in a subsequent period.

Derivatives

m.	Derivatives

Derivatives are initially recognized at fair value on the date a derivative contract is entered into and are subsequently remeasured to their fair value at the end of each reporting period.

Derivatives that do not qualify for hedge accounting

Property, plant and equipment

n.	Property, plant and equipment

Plant and equipment are stated at historical cost less accumulated depreciation and impairment. Cost includes expenditure that is directly attributable to the acquisition of the item.

Property, plant and equipment, other than freehold land, are depreciated over their estimated useful lives using the straight line method (see Note 6(a)).

The assets’ residual values and useful lives are reviewed, and adjusted if appropriate, at the end of each reporting period.

An asset’s carrying amount is written down immediately to its recoverable amount if the asset’s carrying amount is greater than its estimated recoverable amount.

Gains and losses on disposal of plant and equipment are taken into account in determining the profit for the year.

Intangible assets

o.	Intangible assets

(i)

Goodwill

(ii)	Trademarks and licenses

Trademarks and licenses have a finite useful life and are carried at cost less accumulated amortization and impairment losses.

(iii)

In-process research and development acquired

In the case of abandonment, the related research and development efforts are considered impaired and the asset is fully expensed.

(iv)	Current marketed products

Trade and other payables

p.	Trade and other payables

Borrowings

q.	Borrowings

Borrowings are classified as current liabilities unless the Group has an unconditional right to defer settlement of the liability for at least 12 months after the reporting period.

Hercules

NovaQuest

The carrying amount of the loan is subordinated to the senior creditor, Hercules.

Provisions

r.	Provisions

Employee benefits

s.	Employee benefits

A liability is recognized for benefits accruing to employees in respect of wages and salaries, bonuses, annual leave and long service leave.

Share-based payments

t.	Share-based payments

Contributed equity

u.	Contributed equity

Ordinary shares are classified as equity.

Loss per share

v.	Loss per share

(i)	Basic losses per share

Basic losses per share is calculated by dividing:

•

the loss attributable to equity holders of the Group, excluding any costs of servicing equity other than ordinary shares;

•

by the weighted average number of ordinary shares outstanding during the fiscal year, adjusted for bonus elements in ordinary shares issued during the year.

(ii)	Diluted losses per share

Diluted losses per share adjusts the figures used in the determination of basic earnings per share to take into account

•

the after income tax effect of interest and other financing costs associated with dilutive potential ordinary shares; and

•

the weighted average number of shares assumed to have been issued for no consideration in relation to dilutive potential ordinary shares.

Goods and services tax (“GST”)

w.	Goods and services tax (“GST”)

Rounding of amounts

x.	Rounding of amounts

Amounts in the financial statements have been rounded off to the nearest thousand dollars, or in certain cases, the nearest dollar, unless mentioned otherwise.

Loss before income tax (Tables)

12 Months Ended

Jun. 30, 2018

Disclosure Of Loss Before Income Tax [Abstract]

Summary of Loss Before Income Tax

		Year Ended June 30,
(in U.S. dollars, in thousands)	Note	2018			2017			2016
Revenue
Commercialization Revenue			3,641			1,444			37,969
Milestone Revenue			13,334			500			3,500
Interest Revenue			366			468			1,079
Total Revenue			17,341			2,412			42,548

Clinical trial and research & development			(42,863	)		(38,141	)		(30,270	)
Manufacturing production & development			(3,640	)		(8,313	)		(21,506	)

Employee benefits
Salaries and employee benefits			(19,343	)		(20,039	)		(24,350	)
Defined contribution superannuation expenses			(374	)		(362	)		(362	)
Equity settled share-based payment transactions⁽¹⁾			(6,199	)		(5,276	)		(3,389	)
Total Employee benefits			(25,916	)		(25,677	)		(28,101	)

Depreciation and amortization of non-current assets
Plant and equipment depreciation			(909	)		(1,578	)		(1,625	)
Intellectual property amortization			(1,741	)		(1,479	)		(567	)
Total Depreciation and amortization of non-current assets			(2,650	)		(3,057	)		(2,192	)

Other Management & administration expenses
Overheads & administration			(8,477	)		(8,128	)		(10,361	)
Consultancy			(3,295	)		(3,329	)		(3,396	)
Legal, patent and other professional fees			(3,436	)		(4,452	)		(3,888	)
Intellectual property expenses (excluding the amount amortized above)			(3,065	)		(2,889	)		(2,562	)
Total Other Management & administration expenses			(18,273	)		(18,798	)		(20,207	)

Fair value remeasurement of contingent consideration
Remeasurement of contingent consideration	5(g)(iii)		10,541			(130	)		28,112
Total Fair value remeasurement of contingent consideration			10,541			(130	)		28,112

Impairment of intangible assets
Impairment of in-process research and development acquired	6(b)		—			—			(61,919	)
Total Impairment of intangible assets			—			—			(61,919	)

Other operating income and expenses
Research & development tax incentive⁽²⁾			1,807			1,532			3,840
Foreign exchange gains/(losses)			161			(43	)		(1,126	)
Foreign withholding tax paid			(656	)		—			—
Total Other operating income and expenses			1,312			1,489			2,714

Finance costs
Interest expense			(1,829	)		—			—
Total Finance costs			(1,829	)		—			—

Total loss before income tax			(65,977	)		(90,215	)		(90,821	)

(1)	Share-based payment transactions

For the year ended June 30, 2018, 2017 and 2016, share-based payment transactions have been reflected in the Consolidated Statement of Comprehensive Income functional expense categories as follows:

	Year Ended June 30,
(in U.S. dollars)	2018		2017		2016
Research and development		3,638,311		2,837,231		2,461,110
Manufacturing and commercialization		558,928		420,762		681,355
Management and administration		2,001,349		2,017,172		246,197
		6,198,588		5,275,165		3,388,662

(2)	Research and development tax incentive

Income Tax Benefit/(Expense) (Tables)

12 Months Ended

Jun. 30, 2018

Major Components Of Tax Expense Income [Abstract]

Summary of Reconciliation of Income Tax to Prima Facie Tax Payable

		Year Ended June 30,
	(in U.S. dollars, in thousands)	2018			2017			2016
(a)	Reconciliation of income tax to prima facie tax payable
	Loss from continuing operations before income tax		(65,977	)		(90,215	)		(90,821	)
	Tax benefit at the Australian tax rate of 30% (2017: 30%)		(19,793	)		(27,065	)		(27,246	)
	Tax effect of amounts which are not deductible/(exempt) in calculating taxable income:
	Share-based payments expense		1,544			1,488			884
	Research and development tax concessions		537			2,442			699
	Foreign exchange translation gains/(losses)		(242	)		—			—
	Contingent consideration		(3,162	)		39			(11,221	)
	Other sundry items		1,011			497			(1,873	)
	Current year tax expense/(benefit)		(20,105	)		(22,599	)		(38,757	)
	Adjustments for current tax of prior periods		(3,616	)		(5,870	)		(2,224	)
	Differences in overseas tax rates		5,259			7,797			9,192
	Tax benefit not recognized		11,065			7,272			5,851
	Change in tax rate on Deferred tax assets		27,471			—			—
	Change in tax rate on Deferred tax liability		(50,761	)		—			—
	Previously unrecognized tax losses now recouped to reduce deferred tax expense/(benefit)		—			—			(60,756	)
	Income tax expense/(benefit) attributable to loss before income tax		(30,687	)		(13,400	)		(86,694	)

Summary of Income tax benefit/(expense)

		Year Ended June 30,
	(in U.S. dollars, in thousands)	2018			2017			2016
(b)	Income tax expense/(benefit)
	Current tax
	Current tax		—			—			—
	Total current tax expense/(benefit)		—			—			—

	Deferred tax
	(Increase)/decrease in deferred tax assets		20,183			(13,204	)		(65,022	)
	Decrease in deferred tax liabilities		(50,870	)		(196	)		(21,672	)
	Total deferred tax expense/(benefit)		(30,687	)		(13,400	)		(86,694	)
	Income tax expense/(benefit)		(30,687	)		(13,400	)		(86,694	)

Summary of Amounts That Would Be Recognized Directly in Equity if Brought to Account

		Year Ended June 30,
	(in U.S. dollars, in thousands)	2018			2017			2016
(c)	Amounts that would be recognized directly in equity if brought to account
	Aggregate current and deferred tax arising in the reporting period and not recognized in net loss or other comprehensive income but which would have been directly applied to equity had it been brought to account:
	Current tax recorded in equity (if brought to account)		(1,059	)		(764	)		(148	)
	Deferred tax recorded in equity (if brought to account)		877			960			808
			(182	)		196			660

Summary of Amounts That Would Be Recognized Directly in Equity

		Year Ended June 30,
	(in U.S. dollars, in thousands)	2018		2017		2016
(d)	Amounts recognized directly in equity
	Aggregate current and deferred tax arising in the reporting period and not recognized in net loss or other comprehensive income but debited/credited to equity
	Current tax recorded in equity		—		—		—
	Deferred tax recorded in equity		—		—		—

Summary of Deferred Tax Assets Not Brought to Account

		As of June 30,
	(in U.S. dollars, in thousands)	2018		2017		2016
(e)	Deferred tax assets not brought to account
	Unused tax losses
	Potential tax benefit at local tax rates		41,501		34,896		27,060
	Other temporary differences
	Potential tax benefit at local tax rates		3,704		3,908		3,432
	Other tax credits
	Potential tax benefit at local tax rates		3,220		—		—
			48,425		38,804		30,492

Financial assets and liabilities (Tables)

12 Months Ended

Jun. 30, 2018

Disclosure Of Financial Assets And Liabilities [Abstract]

Summary of Financial Instruments

The Group holds the following financial instruments:

Financial assets (in U.S. dollars, in thousands)	Notes	Assets at FVOCI⁽¹⁾		Assets at FVTPL⁽²⁾		Assets at amortized cost		Total
As of June 30, 2018
Cash & cash equivalents	5(a)		—		—		37,763		37,763
Trade & other receivables	5(b)		—		—		50,366		50,366
Available-for-sale financial asset	5(c)		2,321		—		—		2,321
Other non-current assets	5(d)		—		—		3,361		3,361
			2,321		—		91,490		93,811
As of June 30, 2017
Cash & cash equivalents	5(a)		—		—		45,761		45,761
Trade & other receivables	5(b)		—		—		3,743		3,743
Available-for-sale financial asset	5(c)		1,997		—		—		1,997
Other non-current assets	5(d)		—		—		1,916		1,916
			1,997		—		51,420		53,417

(1)	Fair value through other comprehensive income

(2)	Fair value through profit or loss

Financial liabilities (in U.S. dollars, in thousands)	Notes	Liabilities at FVOCI⁽¹⁾		Liabilities at FVTPL⁽²⁾		Liabilities at amortized cost		Total
As of June 30, 2018
Trade and other payables	5(e)		—		—		18,921		18,921
Borrowings	5(f)		—		—		59,397		59,397
Contingent considerations	5(g)(iii)		—		42,070		—		42,070
			—		42,070		78,318		120,388
As of June 30, 2017
Trade and other payables	5(e)		—		—		21,805		21,805
Contingent considerations	5(g)(iii)		—		63,595		—		63,595
			—		63,595		21,805		85,400

(1)	Fair value through other comprehensive income

(2)	Fair value through profit or loss

Summary of Cash and Cash Equivalents

a.	Cash and cash equivalents


	As of June 30,
(in U.S. dollars, in thousands)	2018		2017
Cash at bank		37,221		7,722
Deposits at call⁽¹⁾		542		38,039
		37,763		45,761

(1)	As of June 30, 2018 and June 30, 2017, interest-bearing deposits at call include amounts of $0.4 million and $0.5 million, respectively, held as security and are restricted for use.

Summary of Trade and Other Receivables and Prepayments

b.	Trade and other receivables and prepayments

(i)	Trade receivables

	As of June 30,
(in U.S. dollars, in thousands)	2018		2017
Trade debtors		6,630		474
Funds receivable from debt financing and unissued capital⁽¹⁾		38,950		—
Income tax and tax incentives recoverable		3,305		1,631
Other receivables		615		698
Foreign withholding tax recoverable		471		471
Security deposit		250		250
Sundry debtors		81		120
Other recoverable taxes (Goods and services tax and value-added tax)		53		87
Interest receivables		11		12
Trade and other receivables		50,366		3,743

(1)

(ii)	Prepayments

	As of June 30,
(in U.S. dollars, in thousands)	2018		2017
Clinical trial research and development expenditure		12,042		13,571
Other		759		340
Prepaid insurance and subscriptions		141		194
Prepayments		12,942		14,105

Summary of Available-for-Sale Financial Assets

Available-for-sale financial assets include the following classes of financial assets:

	As of June 30,
(in U.S. dollars, in thousands)	2018		2017
Unlisted securities:
Equity securities		2,321		1,997
		2,321		1,997

Summary of Other Non-current Assets

Other non-current assets

	As of June 30,
(in U.S. dollars, in thousands)	2018		2017
Bank Guarantee		710		738
Letter of Credit		1,178		1,178
U.S. Tax credits		1,473		—
		3,361		1,916

Summary of Trade and Other Payables

Trade and other payables

	As of June 30,
(in U.S. dollars, in thousands)	2018		2017
Trade payables and other payables		18,921		21,805
Trade and other payables		18,921		21,805

Summary of Borrowings

f.Borrowings

	As of June 30,
(in U.S. dollars, in thousands)	2018			2017
Current
Secured liabilities:
Borrowing arrangements		—			—
		—			—

Non-current
Secured liabilities:
Borrowing arrangements		65,000			—
Less: transaction costs		(6,328	)		—
Amortization of transaction costs		725			—
		59,397			—

Summary of Net Debt Reconciliation

(iii) Net debt reconciliation

(in U.S. dollars, in thousands)	Current borrowings		Non-current borrowings			Total
As of June 30, 2017		—		—			—
Changes from financing cash flows
Proceeds from debt		—		31,704			31,704
Payment of transaction costs		—		(392	)		(392	)
Repayment of loans		—		—			—
Movement in short-term borrowings		—		—			—
Total changes in liabilities arising on financing cash flows		—		31,312			31,312
Non-cash changes
Funds receivable from debt financing		—		28,950			28,950
Accrued transaction costs		—		(1,590	)		(1,590	)
Amortization of transaction costs		—		725			725
As of June 30, 2018		—		59,397			59,397

Summary of Financial Assets and Liabilities Measured and Recognized at Fair Value

As of June 30, 2017
(in U.S. dollars, in thousands)	Notes	Level 1		Level 2		Level 3		Total
Financial Assets
Available-for-sale financial assets:
Equity securities - biotech sector	5(c)		—		—		1,997		1,997
Total Financial Assets			—		—		1,997		1,997

Financial Liabilities
Financial liabilities at fair value through profit or loss:
Contingent consideration	6(d)		—		—		63,595		63,595
Total Financial Liabilities			—		—		63,595		63,595

As of June 30, 2018
(in U.S. dollars, in thousands)	Notes	Level 1		Level 2		Level 3		Total
Financial Assets
Available-for-sale financial assets:
Equity securities - biotech sector	5(c)		—		—		2,321		2,321
Total Financial Assets			—		—		2,321		2,321

Financial Liabilities
Financial liabilities at fair value through profit or loss:
Contingent consideration	6(d)		—		—		42,070		42,070
Total Financial Liabilities			—		—		42,070		42,070

Summary of Changes in Fair Value of Level 3 Instruments

The following table presents the changes in level 3 instruments for the years ended June 30, 2018 and June 30, 2017:

(in U.S. dollars, in thousands)	Contingent consideration provision
Opening balance - July 1, 2016		63,716
Amount used during the year		(251	)
Charged/(credited) to consolidated income statement:
Remeasurement⁽¹⁾		130
Closing balance - June 30, 2017		63,595

Opening balance - July 1, 2017		63,595
Amount used during the year		(10,984	)
Charged/(credited) to consolidated income statement:
Remeasurement⁽²⁾		(10,541	)
Closing balance - June 30, 2018		42,070

(1)

(2)

Summary of Quantitative Information About the Significant Unobservable Inputs Used in Level 3 Fair Value Measurements

The following table summarizes the quantitative information about the significant unobservable inputs used in level 3 fair value measurements:

Range of inputs

(weighted average)

(in U.S. dollars, in thousands, except percent data)

Fair value as of

June 30,

Valuation

Unobservable

Year Ended

June 30,

Relationship of

unobservable inputs to

Description

2018

2017

technique

inputs⁽¹⁾

2018

2017

fair value

Contingent consideration provision

42,070

63,595

Discounted cash flows

Risk adjusted

discount rate

11%-13%

(12.5%)

11%-13%

(12.5%)

Year ended June 30, 2018: A change in the discount rate by 0.5% would increase/decrease the fair value by 1%.

Year ended June 30, 2017: A change in the discount rate by 0.5% would increase/decrease the fair value by 1%.

Expected unit

revenues

n/a

Year ended June 30, 2018: A 10% increase/decrease in the price assumptions adopted would increase/decrease the fair value by 4%.

Year ended June 30, 2017: A 10% increase/decrease in the price assumptions adopted would increase/decrease the fair value by 5%.

Expected sales volumes

n/a

Year ended June 30, 2018: A 10% increase/decrease in sales volume assumptions adopted would increase/decrease the fair value by 4%.

Year ended June 30, 2017: A 10% increase/decrease in sales volume assumptions adopted would increase/decrease the fair value by 5%.

(1)	There were no significant inter-relationships between unobservable inputs that materially affect fair values.

Disclosure of Detailed Information About Valuation Processes of Contingent Consideration at Fair Value Explanatory

The fair value of contingent consideration	As of June 30,
(in U.S. dollars, in thousands)	2018		2017
Fair value of cash or stock payable, dependent on achievement of future late-stage clinical or regulatory targets		23,674		34,501
Fair value of royalty payments from commercialization of the intellectual property acquired		18,396		29,094
		42,070		63,595

Non-financial Assets and Liabilities (Tables)

12 Months Ended

Jun. 30, 2018

Disclosure Of Non Financial Assets And Liabilities [Abstract]

Summary of Property, Plant and Equipment

a.	Property, plant and equipment

(in U.S. dollars, in thousands)	Plant and Equipment			Office Furniture and Equipment			Computer Hardware and Software			Total
Year Ended June 30, 2017
Opening net book amount		1,752			706			605			3,063
Additions		17			—			296			313
Exchange differences		31			(25	)		13			19
Disposals		—			—			(3	)		(3	)
Depreciation charge		(1,049	)		(134	)		(395	)		(1,578	)
Closing net book value		751			547			516			1,814

As of June 30, 2017
Cost		4,139			1,255			3,105			8,499
Accumulated depreciation		(3,388	)		(708	)		(2,589	)		(6,685	)
Net book value		751			547			516			1,814

Year ended June 30, 2018
Opening net book amount		751			547			516			1,814
Additions		16			2			176			194
Exchange differences		(1	)		(1	)		(12	)		(14	)
Disposals		—			—			(1	)		(1	)
Depreciation charge		(460	)		(134	)		(315	)		(909	)
Closing net book value		306			414			364			1,084

As of June 30, 2018
Cost		4,152			1,249			3,199			8,600
Accumulated depreciation		(3,846	)		(835	)		(2,835	)		(7,516	)
Net book value		306			414			364			1,084

Summary of Intangible Assets

b.	Intangible assets

(in U.S. dollars, in thousands)	Goodwill		Acquired licenses to patents			In-process research and development acquired			Current marketed products			Total
Year Ended June 30, 2017
Opening net book value		134,453		2,036			427,779			23,555			587,823
Exchange differences		—		6			—			—			6
Amortization charge		—		(144	)		—			(1,335	)		(1,479	)
Closing net book value		134,453		1,898			427,779			22,220			586,350

As of June 30, 2017
Cost		134,453		2,770			489,698			23,999			650,920
Accumulated amortization		—		(872	)		—			(1,779	)		(2,651	)
Accumulated impairment		—		—			(61,919	)		—			(61,919	)
Net book amount		134,453		1,898			427,779			22,220			586,350


Year Ended June 30, 2018
Opening net book value		134,453		1,898			427,779			22,220			586,350
Exchange differences		—		(3	)		—			—			(3	)
Amortization charge		—		(125	)		—			(1,616	)		(1,741	)
Closing net book value		134,453		1,770			427,779			20,604			584,606

As of June 30, 2018
Cost		134,453		2,749			489,698			23,999			650,899
Accumulated amortization		—		(979	)		—			(3,395	)		(4,374	)
Accumulated impairment		—		—			(61,919	)		—			(61,919	)
Net book amount		134,453		1,770			427,779			20,604			584,606

Summary of Carrying Value of In Process Research and Development Acquired by Product

Carrying value of in-process research and development acquired by product

	As of June 30,
(in U.S. dollars, in thousands)	2018		2017
Cardiovascular products		254,351		254,351
Intravenous products for metabolic diseases and inflammatory/immunologic conditions		70,730		70,730
Osiris MSC products		102,698		102,698
		427,779		427,779

Summary of Provisions

	As of						As of
	June 30, 2018						June 30, 2017
(in U.S. dollars, in thousands)	Current		Non-current		Total		Current		Non-current		Total
Contingent consideration		724		41,346		42,070		11,054		52,541		63,595
Employee benefits		4,358		101		4,459		3,811		416		4,227
Provision for license agreements		—		1,509		1,509		—		—		—
		5,082		42,956		48,038		14,865		52,957		67,822

Summary of Deferred Tax Balances

(i) Deferred tax balances

	As of June 30,
(in U.S. dollars, in thousands)	2018		2017
Deferred tax assets
The balance comprises temporary differences attributable to:
Tax losses		55,904		74,660
Other temporary differences		669		3,566
Total deferred tax assets		56,573		78,226

Deferred tax liabilities
The balance comprises temporary differences attributable to:
Intangible assets		76,652		127,519
Total deferred tax liabilities		76,652		127,519
Net deferred tax liabilities		20,079		49,293

Deferred tax assets expected to be settled within 12 months		—		—
Deferred tax assets expected to be settled after 12 months		56,573		78,226

Deferred tax liabilities expected to be settled within 12 months		147		147
Deferred tax liabilities expected to be settled after 12 months		76,505		127,372

Schedule of Movements Related to Deferred Tax Assets and Liabilities

(ii) Movements

(in U.S. dollars, in thousands)	Tax losses⁽¹⁾ (DTA)			Other temporary differences⁽¹⁾ (DTA)			Intangible assets (DTL)			Total (DTL)
As of June 30, 2016		(57,650	)		(7,372	)		127,715			62,693
Charged/(credited) to:
- profit or loss		(17,010	)		3,806			(196	)		(13,400	)
As of June 30, 2017		(74,660	)		(3,566	)		127,519			49,293
Reclassifications		1,473			—			—			1,473
Charged/(credited) to:
- profit or loss		17,283			2,897			(50,867	)		(30,687	)
As of June 30, 2018		(55,904	)		(669	)		76,652			20,079

(1)	Deferred tax assets are netted against deferred tax liabilities.

Equity (Tables)

12 Months Ended

Jun. 30, 2018

Disclosure Of Classes Of Share Capital [Abstract]

Schedule of Share Capital

(i) Share capital

	As of June 30,
	2018			2017			2016			2018		2017		2016
	Shares No.									(U.S. dollars, in thousands)
Contributed equity
(i) Share capital
Ordinary shares⁽¹⁾		482,639,654			428,221,398			381,373,137			889,481		830,425		770,272
Less: Treasury Shares		(3,500,000	)		(3,500,000	)		(3,500,000	)		—		—		—
Total Contributed Equity		479,139,654			424,721,398			377,873,137			889,481		830,425		770,272

(1)	As of June 30, 2018, total ordinary shares include 2,000,000 unpaid shares issued to Kentgrove Capital on January 19, 2018.

Summary of Movements in Ordinary Share Capital

(ii) Movements in ordinary share capital

	As of June 30,						As of June 30,
	2018		2017		2016		2018			2017			2016
	Shares No.						(U.S. dollars, in thousands)
Opening balance		428,221,398		381,373,137		336,997,729		830,425			770,272			709,191
Issues of ordinary shares during the period
Exercise of share options⁽¹⁾		289,245		272,579		422,903		116			149			268
Share issue for Nasdaq IPO		—		—		42,675,295		—			—			68,280
Consideration for available-for-sale financial assets		—		—		1,277,210		—			—			1,495
Share based compensation for services rendered		540,051		280,911		—		662			240			—
Payment for contingent consideration		6,029,545		—		—		10,000			—			—
Entitlement offer to existing eligible shareholders		36,191,982		—		—		40,449			—			—
Placement of shares under an equity facility agreement⁽²⁾		2,000,000		—		—		—			—			—
Placement of shares under a share placement agreement		—		46,294,771		—		—			61,710			—
Placement of shares under a license agreement		892,857		—		—		1,000			—			—
Transaction costs arising on share issue								(2,869	)		(1,959	)		(9,096	)
		45,943,680		46,848,261		44,375,408		49,358			60,140			60,947
Unissued ordinary shares during the period
Placement of shares under a share placement agreement⁽³⁾		8,474,576		—		—		10,000			—			—
Transaction costs arising on share issue								(340	)		—			—
		8,474,576		—		—		9,660			—			—
Total contributions of equity during the period		54,418,256		46,848,261		44,375,408		59,018			60,140			60,947
Share options reserve transferred to equity on exercise of options								38			13			134
Ending balance		482,639,654		428,221,398		381,373,137		889,481			830,425			770,272

(1)	Options are issued to employees, directors and consultants in accordance with the Mesoblast Employee Share Options Plan (“ESOP”). The shares issued and share capital received upon the exercise of options are recorded above.

(2)	These shares were issued to Kentgrove Capital on January 19, 2018 in accordance with contractual obligations to maintain Mesoblast’s existing established equity facility.

(3)	These shares were issued to NovaQuest on July 10, 2018, under a placement agreement entered into prior to June 30, 2018 pursuant to which NovaQuest purchased US$10.0 million of Mesoblast common shares.

Summary of Reserves

(i) Reserves

	As at June 30,
(in U.S. dollars, in thousands)	2018			2017
Share-based payments reserve		75,974			69,919
Investment revaluation reserve		21			(303	)
Foreign currency translation reserve		(39,276	)		(38,373	)
		36,719			31,243

Summary of Reconciliation of Reserves

(ii) Reconciliation of reserves

(in U.S. dollars, in thousands)	As at June 30,
Share-based payments reserve	2018			2017
Opening balance		69,919			64,999
Transfer to ordinary shares on exercise of options		(38	)		(13	)
Share option expense for the year		5,959			5,036
Reclassification of modified options to/(from) liability		134			(103	)
Closing Balance		75,974			69,919

Investment Revaluation Reserve
Opening balance		(303	)		(334	)
Changes in the fair value of available-for-sale financial assets		324			31
Closing Balance		21			(303	)

Foreign currency translation reserve
Opening balance		(38,373	)		(38,689	)
Currency (loss)/gain on translation of foreign operations net assets		(903	)		316
Closing Balance		(39,276	)		(38,373	)

Cash flow information (Tables)

12 Months Ended

Jun. 30, 2018

Statement Of Cash Flows [Abstract]

Summary of Cash Flow Information

(in U.S. dollars, in thousands)	As of June 30,
(a) Reconciliation of cash and cash equivalents	2018		2017		2016
Cash at bank		37,221		7,722		21,860
Deposits at call		542		38,039		59,077
		37,763		45,761		80,937

(in U.S. dollars, in thousands)	Year Ended June 30,
(b) Reconciliation of net cash flows used in operations with loss after income tax	2018			2017			2016
Loss for the period		(35,290	)		(76,815	)		(4,127	)
Add/(deduct) net loss for non-cash items as follows:
Depreciation and amortization		2,650			3,057			2,192
Foreign exchange (gains)/losses		(160	)		38			1,090
Finance costs		725			—			—
Remeasurement of contingent consideration		(10,541	)		130			(28,112	)
Payment under a license agreement paid in shares		1,000			—			—
Equity settled share-based payment		6,199			5,276			3,389
Deferred tax benefit		(30,664	)		(13,400	)		(86,694	)
Impairment of intangible assets		—			—			61,919
Commercialization revenue		—			—			(37,509	)
Change in operating assets and liabilities:
(Increase)/decrease in trade and other receivables		(6,093	)		(859	)		(531	)
Decrease/(increase) in prepayments		1,503			(10,201	)		495
(Increase)/decrease in tax assets		(1,807	)		1,282			626
(Decrease)/increase in trade creditors and accruals		(4,464	)		(5,740	)		2,425
(Decrease)/increase in provisions		1,930			1,761			(3,159	)
Net cash outflows used in operations		(75,012	)		(95,471	)		(87,996	)

Financial Risk Management (Tables)

12 Months Ended

Jun. 30, 2018

Disclosure Of Financial Risk Management [Abstract]

Schedule of Balances Held at the End of Year with an Analysis which Assesses Impact on Profit and Loss Due to Change in Exchange Rate

		+20%			-20%
(in U.S. dollars, in thousands) As of June 30, 2018	Foreign currency balance held	Profit/(Loss) USD			Profit/(Loss) USD
Bank accounts - USD	USD 81	$	(14	)	$	20
Bank accounts - CHF	CHF 157	$	31		$	(31	)
Bank accounts - SGD	SGD 178	$	49		$	(49	)
Bank accounts - EUR	EUR 2	$	0		$	(0	)
Trade and other receivables - SGD	SGD 29	$	8		$	(8	)
Trade and other receivables - USD	USD 10,000	$	(1,667	)	$	2,500
Trade and other receivables - CHF	CHF 6	$	1		$	(1	)
Trade and other receivables - EUR	EUR 4,750	$	815		$	(815	)
Trade payables and accruals - USD	(USD 1,797)	$	300		$	(449	)
Trade payables and accruals - AUD	(AUD 446)	$	(121	)	$	121
Trade payables and accruals - SGD	(SGD 176)	$	(48	)	$	48
Trade payables and accruals - GBP	(GBP 52)	$	(0	)	$	(2	)
Trade payables and accruals - EUR	(EUR 1)	$	(0	)	$	0
Trade payables and accruals - CHF	(CHF 50)	$	(10	)	$	10
Trade payables and accruals - SEK	(SEK 118)	$	2		$	(3	)
Provisions - SGD	(SGD 74)	$	(20	)	$	20
Provisions - CHF	(CHF 2)	$	(0	)	$	0
		$	(674	)	$	1,361

		+20%			-20%
(in U.S. dollars, in thousands) As of June 30, 2017	Foreign currency balance held	Profit/(Loss) USD			Profit/(Loss) USD
Bank accounts - USD	USD 447	$	(74	)	$	112
Bank accounts - CHF	CHF 183	$	35		$	(35	)
Bank accounts - SGD	SGD 325	$	90		$	(90	)
Trade and other receivables - SGD	SGD 48	$	13		$	(13	)
Trade and other receivables - USD	USD 40	$	(7	)	$	10
Trade and other receivables - CHF	CHF 1	$	0		$	(0	)
Trade payables and accruals - USD	(USD 2,016)	$	336		$	(504	)
Trade payables and accruals - AUD	(AUD 441)	$	(115	)	$	115
Trade payables and accruals - SGD	(SGD 197)	$	(54	)	$	54
Trade payables and accruals - EUR	(EUR 42)	$	(7	)	$	7
Trade payables and accruals - CHF	(CHF 19)	$	(4	)	$	4
Provisions - SGD	(SGD 65)	$	(18	)	$	18
		$	195		$	(322	)

Summary of Borrowings of Interest Rate Changes

The exposure of the Group’s borrowing to interest rate changes are as follows:

	As of					As of
	June 30, 2018					June 30, 2017
(in U.S. dollars, in thousands, except percent data)	Total		% of total loans			Total		% of total loans
Financial liabilities
Non-current borrowings
Variable rate borrowings - Hercules		31,966		54	%		—		—
		31,966		54	%		—		—

Schedule of Borrowings which Expose Interest Rate Risk Together with the Maximum and Minimum Interest Rates Being Earned

The effect on profit is shown if interest rates change by 5%, in either direction, is as follows:

	As of									As of
	June 30, 2018									June 30, 2017
(in U.S. dollars, in thousands, except percent data)	Low			High						Low		High
Borrowings - USD		9.95	%		9.95	%	USD 31,966⁽²⁾				—		—	—
Rate increase by 5%		10.45	%		10.45	%		USD 159			—		—	—
Rate decrease by 5%⁽¹⁾		9.45	%		9.45	%		(USD 159	)		—		—	—

(1)	The interest rate will not decrease to below 9.45% per the terms of the loan agreement.

(2)	The effect on profit/loss of interest rate changes is based on the loan carrying value of $32.0 million with principal payments commencing in October 2019.

Schedule of Deposits Held which Derive Interest Revenue with Maximum and Minimum Interest Rates Being Earned

	As of								As of
	June 30, 2018								June 30, 2017
(in U.S. dollars, in thousands, except percent data)	Low			High					Low			High
Funds invested - USD		0.80	%		0.80	%	USD 99			0.55	%		0.55	%	USD 37,577
Rate increase by 10%		0.88	%		0.88	%	USD 0			0.61	%		0.61	%	USD 21
Rate decrease by 10%		0.72	%		0.72	%	(USD 0	)		0.50	%		0.50	%	(USD 21	)


AUD	Low			High					Low			High
Funds invested - AUD		2.72	%		2.72	%	AUD 600			2.42	%		2.42	%	AUD 600
Rate increase by 10%		2.99	%		2.99	%	AUD 2			2.66	%		2.66	%	AUD 1
Rate decrease by 10%		2.45	%		2.45	%	(AUD 2	)		2.18	%		2.18	%	(AUD 1	)

Summary of Borrowing to Price Rate Changes

The exposure of the Group’s borrowing to price rate changes are as follows:

	As of					As of
	June 30, 2018					June 30, 2017
(in U.S. dollars, in thousands, except percent data)	Total		% of total loans			Total		% of total loans
Financial liabilities
Non-current borrowings
Borrowings - NovaQuest		27,431		46	%		—		—
		27,431		46	%		—		—

Schedule of Group's Receivables

	As of June 30,
(in U.S. dollars, in thousands)	2018		2017
Cash and cash equivalents
Deposits at call (Note 5(a)) - minimum A rated		542		38,039
Cash at bank (Note 5(a)) - minimum A rated		37,221		7,722
Trade and other receivables
Receivable from other parties (non-rated)		45,745		1,067
Receivable from the Australian Government (Income Tax)		3,305		1,631
Receivable from the Australian Government (Foreign Withholding Tax)		400		—
Receivable from minimum A rated bank deposits (interest)		262		12
Receivable from the Australian Government (Goods and Services Tax)		48		86
Receivable from the United States Government (Income Tax)		24		27
Receivable from the Swiss Government (Value-Added Tax)		6		1
Other non-current assets
Receivable from the United States Government (U.S. tax credits)		1,473		—

Schedule of Maturity Profile of Anticipated Future Contractual Cash Flows Borrowings and Carrying Value

(in U.S. dollars, in thousands)

Within

1 year

Between

1-2 years

Between

2-5 years

Over

5 years

Total

contractual

cash flows

Carrying

amount

Borrowings⁽¹⁾⁽²⁾

(3,928

)

(15,495

)

(54,826

)

(49,228

)

(123,477

)

(59,397

)

(3,928

)

(15,495

)

(54,826

)

(49,228

)

(123,477

)

(59,397

)

(1)	Contractual cash flows include payments of principal, interest and other charges. Interest is calculated based on debt held at June 30, 2018 without taking account drawdowns of further tranches.

(2)	In relation to the contractual maturities of the NovaQuest borrowings, there is variability in the maturity profile of the anticipated future contractual cash flows given the timing and amount of payments are calculated based on our estimated net sales of pediatric aGVHD.

Interests in other entities (Tables)

12 Months Ended

Jun. 30, 2018

Disclosure Of Significant Investments In Subsidiaries [Abstract]

Summary of Group's Principal Subsidiaries

	Country of	Class of
	incorporation	shares	Equity holding
			As of June 30,
			2018		2017
			%		%
Mesoblast, Inc.	USA	Ordinary		100		100
Mesoblast International Sàrl (includes Mesoblast International Sàrl Singapore Branch)	Switzerland	Ordinary		100		100
Mesoblast Australia Pty Ltd	Australia	Ordinary		100		100
Mesoblast UK Ltd	United Kingdom	Ordinary		100		100
Mesoblast International (UK) Ltd	United Kingdom	Ordinary		100		100

Commitments (Tables)

12 Months Ended

Jun. 30, 2018

Commitments [Abstract]

Schedule of Lease Commitments, Group as Lessee

b.	Lease commitments: Group as lessee

Later than

Later than one

three years

year but no

but no later

Within one

later than

than five

Later than

(in U.S. dollars, in thousands)

Total

year

three years

years

five years

Operating leases

3,926

1,651

2,240

—

Total commitments

3,926

1,651

2,240

—

Schedule of Lease Commitments, Group as Lessor

c.	Lease commitments: Group as lessor

Later than

Later than one

three years

year but no

but no later

Within one

later than

than five

Later than

(in U.S. dollars, in thousands)

Total

year

three years

years

five years

Operating leases

220

155

—

Total commitments

220

155

—

Related party transactions (Tables)

12 Months Ended

Jun. 30, 2018

Disclosure Of Key Management Personnel Compensation [Abstract]

Summary of Aggregate Compensation made to Directors and other Members of key Management Personnel

The aggregate compensation made to Directors and other members of key management personnel of the Group is set out below:

	Year Ended June 30,
(in U.S. dollars)	2018			2017
Short-term employee benefits		2,577,166			2,592,456
Long-term employee benefits		5,648			17,742
Post-employment benefits		66,539			70,915
Share based payments		(60,858	)		552,174
		2,588,495			3,233,287

Share-based payments (Tables)

12 Months Ended

Jun. 30, 2018

Disclosure Of Sharebased Payment Arrangements [Abstract]

Reconciliation of Outstanding Share Based Payments

a.	Reconciliation of outstanding share based payments

Series	Grant Date	Expiry Date	Exercise Price		Opening Balance		Granted No. (during the year)		Exercised No. (during the year)			Lapsed/Cancelled No. (during the year)			Closing Balance		Vested and exercisable No (end of year)
INC	7/12/2010	26/10/2018		USD 0.305		154,064		—		(127,956	)		—			26,108		26,108
INC	7/12/2010	26/10/2019		USD 0.340		447,848		—		(127,956	)		—			319,892		319,892
17/LF3	9/07/2012	8/07/2018		AUD 6.67		150,000		—		—			—			150,000		150,000
19/LF5	25/01/2013-29/01/2013	24/01/2018-28/01/2018		AUD 6.27		50,000		—		—			(50,000	)		—		—
20/LF6	24/05/2013	23/05/2018		AUD 6.34		425,000		—		—			(425,000	)		—		—
21/LF7	3/09/2013	30/06/2018		AUD 5.90		1,865,000		—		—			(1,865,000	)		—		—
22/LF8	4/09/2013	27/08/2018		AUD 6.26		225,000		—		—			—			225,000		225,000
25a (i&ii)	1/01/2014	31/12/2018		AUD 6.36		650,000		—		—			—			650,000		650,000
25b	12/12/2014	31/10/2019		AUD 4.49		50,000		—		—			—			50,000		50,000
27/LF12	5/09/2014	30/06/2019		AUD 4.69		2,070,000		—		—			(25,000	)		2,045,000		2,045,000
27(iv)	25/08/2014	24/08/2019		AUD 4.65		75,000		—		—			(75,000	)		—		—
28/LF13	9/10/2014	8/10/2019		AUD 4.52		85,000		—		—			(10,000	)		75,000		75,000
29	25/11/2014	24/11/2019		AUD 4.00		240,000		—		—			—			240,000		240,000
30a(1)	25/03/2015	30/06/2018		AUD 4.98		650,000		—		—			(650,000	)		—		—
30b(1)	25/03/2015	25/01/2018		AUD 4.98		235,000		—		—			(235,000	)		—		—
30c(1)	25/03/2015	20/01/2019		AUD 4.98		135,000		—		—			—			135,000		135,000
30d(1)	25/03/2015	25/01/2019		AUD 4.98		300,000		—		—			—			300,000		300,000
30e(1)	25/03/2015	25/01/2018		AUD 4.98		165,000		—		—			(165,000	)		—		—
30f(1)	25/03/2015	25/01/2019		AUD 4.98		200,000		—		—			—			200,000		200,000
30g(1)	25/03/2015	23/07/2019		AUD 4.69		300,000		—		—			(300,000	)		—		—
30h(1)	25/03/2015	30/06/2019		AUD 4.69		400,000		—		—			—			400,000		400,000
30i(1)	25/03/2015	30/06/2019		AUD 4.44		600,000		—		—			—			600,000		600,000
30j	25/03/2015	23/07/2019		AUD 4.69		150,000		—		—			(150,000	)		—		—
LF14	6/01/2015	16/12/2019		AUD 4.66		150,000		—		—			—			150,000		150,000
31b	12/05/2015	16/02/2020		AUD 4.28		200,000		—		—			—			200,000		200,000
32	10/07/2015	30/06/2022		AUD 4.20		2,620,000		—		—			(161,666	)		2,458,334		1,683,336
33	26/08/2015	16/08/2022		AUD 4.05		91,667		—		—			(16,667	)		75,000		50,000
34	27/04/2016	6/03/2023		AUD 2.80		3,621,667		—		—			(241,667	)		3,380,000		2,299,982
34a	27/04/2016	17/04/2023		AUD 2.74		200,000		—		—			—			200,000		133,334
34b	31/10/2016	6/03/2023		AUD 2.80		200,000		—		—			—			200,000		200,000
35	30/06/2016	18/01/2021		AUD 2.20		1,500,000		—		—			—			1,500,000		1,500,000
36	6/12/2016	5/12/2023		AUD 1.31		2,045,000		—		(33,333	)		(126,667	)		1,885,000		611,666
36a	6/12/2016	5/12/2023		AUD 1.19		4,400,000		—		—			—			4,400,000		1,495,002
36b	13/01/2017	12/01/2024		AUD 1.65		450,000		—		—			(150,000	)		300,000		300,000
37	28/06/2017	27/06/2024		AUD 2.23		—		300,000		—			—			300,000		100,000
38	16/09/2017	15/09/2024		AUD 1.54		—		100,000		—			—			100,000		—
38a	16/09/2017	15/09/2024		AUD 1.40		—		150,000		—			—			150,000		—
39	13/10/2017	12/10/2024		AUD 1.94		—		2,310,000		—			(95,000	)		2,215,000		—
39a	13/10/2017	12/10/2024		AUD 1.76		—		2,000,000		—			(100,000	)		1,900,000		200,000
40	24/11/2017	23/11/2024		AUD 1.41		—		750,000		—			—			750,000		—
40a	24/11/2017	23/11/2024		AUD 1.28		—		750,000		—			—			750,000		—
June 30, 2018						25,100,246		6,360,000		(289,245	)		(4,841,667	)		26,329,334		14,339,320
Weighted average share purchase price						AUD 3.35		AUD 1.74		AUD 0.52			AUD 4.97			AUD 2.68		AUD 3.39

(1)	30a to 30i were granted as a remuneration for the repurchase and cancellation of 2,985,000 LFSP during the year ended 30 June 2015 (see Note 17(b)).

Series	Grant Date	Expiry Date	Exercise Price		Opening Balance		Granted No. (during the year)		Exercised No. (during the year)			Lapsed/Cancelled No. (during the year)			Closing Balance		Vested and exercisable No (end of year)
INC	7/12/2010	26/10/2018		USD 0.305		154,064		—		—			—			154,064		154,064
INC	7/12/2010	26/10/2019		USD 0.340		447,848		—		—			—			447,848		447,848
INC	7/12/2010	25/04/2017		USD 0.444		127,956		—		(127,956	)		—			—		—
INC	7/12/2010	2/05/2017		USD 0.444		127,956		—		(127,956	)		—			—		—
16/LF2	24/02/2012	23/02/2017		AUD 8.48		340,000		—		—			(340,000	)		—		—
17/LF3	9/07/2012	8/07/2018		AUD 6.69		250,000		—		—			(100,000	)		150,000		150,000
18/LF4	21/09/2012-29/10/2012	30/06/2017		AUD 6.70		1,948,333		—		—			(1,948,333	)		—		—
19/LF5	25/01/2013-29/01/2013	24/01/2018-28/01/2018		AUD 6.29		100,000		—		—			(50,000	)		50,000		50,000
20/LF6	24/05/2013	23/05/2018		AUD 6.36		595,000		—		—			(170,000	)		425,000		425,000
21/LF7	3/09/2013	30/06/2018		AUD 5.92		2,430,000		—		—			(565,000	)		1,865,000		1,865,000
22/LF8	4/09/2013	27/08/2018		AUD 6.28		225,000		—		—			—			225,000		225,000
23a	26/11/2013	10/10/2018		AUD 6.20		33,333		—		—			(33,333	)		—		—
24	17/12/2013	16/12/2018		AUD 6.25		25,000		—		—			(25,000	)		—		—
25a (i&ii)	1/01/2014	31/12/2018		AUD 6.38		650,000		—		—			—			650,000		650,000
25b	12/12/2014	31/10/2019		AUD 4.51		50,000		—		—			—			50,000		33,334
25	1/07/2014	6/04/2019		AUD 5.80		10,000		—		—			(10,000	)		—		—
26/LF11	24/07/2014	23/07/2019		AUD 4.71		125,000		—		—			(125,000	)		—		—
27/LF12	5/09/2014	30/06/2019		AUD 4.71		2,865,000		—		—			(795,000	)		2,070,000		1,380,004
27(ii)	4/08/2014	3/08/2019		AUD 4.60		50,000		—		—			(50,000	)		—		—
27(iv)	25/08/2014	24/08/2019		AUD 4.67		75,000		—		—			—			75,000		50,000
28/LF13	9/10/2014	8/10/2019		AUD 4.54		235,000		—		—			(150,000	)		85,000		56,666
29	25/11/2014	24/11/2019		AUD 4.02		240,000		—		—			—			240,000		160,002
30a(1)	25/03/2015	30/06/2018		AUD 5.00		650,000		—		—			—			650,000		650,000
30b(1)	25/03/2015	25/01/2018		AUD 5.00		235,000		—		—			—			235,000		235,000
30c(1)	25/03/2015	20/01/2019		AUD 5.00		135,000		—		—			—			135,000		135,000
30d(1)	25/03/2015	25/01/2019		AUD 5.00		300,000		—		—			—			300,000		300,000
30e(1)	25/03/2015	25/01/2018		AUD 5.00		165,000		—		—			—			165,000		165,000
30f(1)	25/03/2015	25/01/2019		AUD 5.00		200,000		—		—			—			200,000		200,000
30g(1)	25/03/2015	23/07/2019		AUD 4.71		300,000		—		—			—			300,000		200,000
30h(1)	25/03/2015	30/06/2019		AUD 4.71		400,000		—		—			—			400,000		266,668
30i(1)	25/03/2015	30/06/2019		AUD 4.46		600,000		—		—			—			600,000		600,000
30j	25/03/2015	23/07/2019		AUD 4.71		150,000		—		—			—			150,000		100,000
LF14	6/01/2015	16/12/2019		AUD 4.66		150,000		—		—			—			150,000		100,000
31a	27/04/2015	16/02/2020		AUD 4.73		20,000		—		—			(20,000	)		—		—
31b	12/05/2015	16/02/2020		AUD 4.30		200,000		—		—			—			200,000		200,000
32	10/07/2015	30/06/2022		AUD 4.22		3,840,000		—		—			(1,220,000	)		2,620,000		873,334
33	26/08/2015	16/08/2022		AUD 4.07		125,000		—		—			(33,333	)		91,667		41,667
34	27/04/2016	6/03/2023		AUD 2.82		5,140,000		—		(16,667	)		(1,501,666	)		3,621,667		1,218,324
34a	27/04/2016	17/04/2023		AUD 2.76		200,000		—		—			—			200,000		66,667
34b	31/10/2016	6/03/2023		AUD 2.82		—		200,000		—			—			200,000		200,000
35	30/06/2016	18/01/2021		AUD 2.22		1,500,000		—		—			—			1,500,000		—
36	6/12/2016	5/12/2023		AUD 1.33		—		2,095,000		—			(50,000	)		2,045,000		—
36a	6/12/2016	5/12/2023		AUD 1.21		—		4,400,000		—			—			4,400,000		816,667
36b	13/01/2017	12/01/2024		AUD 1.67		—		450,000		—			—			450,000		150,000
June 30, 2017						25,414,490		7,145,000		(272,579	)		(7,186,665	)		25,100,246		12,165,245
Weighted average share purchase price						AUD 4.39		AUD 1.32		AUD 0.72			AUD 5.10			AUD 3.35		AUD 4.36

(1)	30a to 30i were granted as a remuneration for the repurchase and cancellation of 2,985,000 LFSP during the year ended 30 June 2015 (see Note 17(b)).

Series	Grant Date	Expiry Date	Exercise Price		Opening Balance		Granted No. (during the year)		Exercised No. (during the year)			Lapsed/Cancelled No. (during the year)			Closing Balance		Vested and exercisable No (end of year)
INC	7/12/2010	7/07/2015		USD 0.046		287,903		—		(287,903	)		—			—		—
INC	7/12/2010	26/10/2018		USD 0.305		154,064		—		—			—			154,064		154,064
INC	7/12/2010	26/10/2019		USD 0.340		447,848		—		—			—			447,848		447,848
INC	7/12/2010	25/04/2017		USD 0.444		127,956		—		—			—			127,956		127,956
INC	7/12/2010	2/05/2017		USD 0.444		127,956		—		—			—			127,956		127,956
13	22/09/2010	21/09/2015		AUD 2.64		135,000		—		(135,000	)		—			—		—
14	29/11/2010	29/11/2015		AUD 3.48		1,453,350		—		—			(1,453,350	)		—		—
15/LF1	22/12/2011	30/06/2016		AUD 7.99		3,413,334		—		—			(3,413,334	)		—		—
16/LF2	24/02/2012	23/02/2017		AUD 8.48		340,000		—		—			—			340,000		340,000
17/LF3	9/07/2012	8/07/2018		AUD 6.69		250,000		—		—			—			250,000		250,000
18/LF4	21/09/2012-29/10/2012	30/06/2017		AUD 6.70		2,276,667		—		—			(328,334	)		1,948,333		1,948,333
19/LF5	25/01/2013-29/01/2013	24/01/2018-28/01/2018		AUD 6.29		100,000		—		—			—			100,000		100,000
20/LF6	24/05/2013	23/05/2018		AUD 6.36		865,000		—		—			(270,000	)		595,000		595,000
21/LF7	3/09/2013	30/06/2018		AUD 5.92		2,741,667		—		—			(311,667	)		2,430,000		1,878,336
22/LF8	4/09/2013	27/08/2018		AUD 6.28		275,000		—		—			(50,000	)		225,000		150,002
23a	26/11/2013	10/10/2018		AUD 6.20		50,000		—		—			(16,667	)		33,333		33,333
24	17/12/2013	16/12/2018		AUD 6.25		148,333		—		—			(123,333	)		25,000		16,666
25a (i&ii)	1/01/2014	31/12/2018		AUD 6.38		650,000		—		—			—			650,000		650,000
25b	12/12/2014	31/10/2019		AUD 4.51		50,000		—		—			—			50,000		16,667
25	1/07/2014	6/04/2019		AUD 5.80		15,000		—		—			(5,000	)		10,000		10,000
26/LF11	24/07/2014	23/07/2019		AUD 4.71		215,000		—		—			(90,000	)		125,000		41,667
27/LF12	5/09/2014	30/06/2019		AUD 4.71		3,380,000		—		—			(515,000	)		2,865,000		961,670
27(ii)	4/08/2014	3/08/2019		AUD 4.60		50,000		—		—			—			50,000		16,667
27(iv)	25/08/2014	24/08/2019		AUD 4.67		75,000		—		—			—			75,000		25,000
28/LF13	9/10/2014	8/10/2019		AUD 4.54		235,000		—		—			—			235,000		78,333
29	25/11/2014	24/11/2019		AUD 4.02		240,000		—		—			—			240,000		80,001
30a(1)	25/03/2015	30/06/2018		AUD 5.00		650,000		—		—			—			650,000		650,000
30b(1)	25/03/2015	25/01/2018		AUD 5.00		235,000		—		—			—			235,000		235,000
30c(1)	25/03/2015	20/01/2019		AUD 5.00		135,000		—		—			—			135,000		135,000
30d(1)	25/03/2015	25/01/2019		AUD 5.00		300,000		—		—			—			300,000		200,000
30e(1)	25/03/2015	25/01/2018		AUD 5.00		165,000		—		—			—			165,000		165,000
30f(1)	25/03/2015	25/01/2019		AUD 5.00		200,000		—		—			—			200,000		200,000
30g(1)	25/03/2015	23/07/2019		AUD 4.71		300,000		—		—			—			300,000		100,000
30h(1)	25/03/2015	30/06/2019		AUD 4.71		400,000		—		—			—			400,000		133,334
30i(1)	25/03/2015	30/06/2019		AUD 4.46		600,000		—		—			—			600,000		400,000
30j	25/03/2015	23/07/2019		AUD 4.71		150,000		—		—			—			150,000		50,000
LF14	6/01/2015	16/12/2019		AUD 4.66		150,000		—		—			—			150,000		50,000
31	16/03/2015	16/02/2020		AUD 4.73		60,000		—		—			(60,000	)		—		—
31a	27/04/2015	16/02/2020		AUD 4.73		20,000		—		—			—			20,000		6,667
31b	12/05/2015	16/02/2020		AUD 4.30		400,000		—		—			(200,000	)		200,000		200,000
32	10/07/2015	30/06/2022		AUD 4.22		—		4,800,000		—			(960,000	)		3,840,000		—
33	26/08/2015	16/08/2022		AUD 4.07		—		125,000		—			—			125,000		—
34	27/04/2016	6/03/2023		AUD 2.82		—		5,255,000		—			(115,000	)		5,140,000		—
34a	27/04/2016	17/04/2023		AUD 2.76		—		200,000		—			—			200,000		—
35	30/06/2016	18/01/2021		AUD 2.22		—		1,500,000		—			—			1,500,000		—
June 30, 2016						21,869,078		11,880,000		(422,903	)		(7,911,685	)		25,414,490		10,574,500
Weighted average share purchase price						AUD 5.49		AUD 3.32		AUD 0.88			AUD 5.93			AUD 4.39		AUD 5.38

(1)	30a to 30i were granted as a remuneration for the repurchase and cancellation of 2,985,000 LFSP during the year ended 30 June 2015 (see Note 17(b)).

Summary of Valuations of Options Approved and Granted

The model inputs for the valuations of options approved and granted during the year ended June 30, 2018 are as follows:

Series	Financial year of grant	Exercise/Loan price per share AUD		Share price at acceptance date AUD		Expected share price volatility	Life⁽¹⁾	Dividend yield	Risk-free interest rate
37	2018		2.23		2.02	52.21%	5.8 yrs	0%	2.22%
38	2018		1.54		1.37	52.04%	5.8 yrs	0%	2.41%
38a	2018		1.40		1.37	52.56%	5.8 yrs	0%	2.27%
39	2018		1.94		1.34	52.49%	5.9 yrs	0%	2.16%
39a	2018		1.76		1.34	52.49%	5.9 yrs	0%	2.16%
40	2018		1.41		1.32	52.35%	5.8 yrs	0%	2.43%
40a	2018		1.28		1.32	52.35%	5.8 yrs	0%	2.43%

(1)	Expected life after factoring likely early exercise.

The model inputs for the valuations of options approved and granted during the year ended June 30, 2017 are as follows:

Series	Financial year of grant	Exercise/Loan price per share AUD		Share price at acceptance date AUD		Expected share price volatility	Life⁽¹⁾	Dividend yield	Risk-free interest rate
34b	2017		2.82		1.24	51.13%	4.6 yrs	0%	2.16%
36	2017		1.33		2.32	51.63%	5.5 yrs	0%	2.15%
36a	2017		1.21		2.32	51.63%	5.5 yrs	0%	2.15%
36b	2017		1.67		2.32	51.63%	5.6 yrs	0%	2.15%

(1)	Expected life after factoring likely early exercise.

The model inputs for the valuations of options approved and granted during the year ended June 30, 2016 are as follows:

Series	Financial year of grant	Exercise/Loan price per share AUD		Share price at acceptance date AUD		Expected share price volatility	Life⁽¹⁾	Dividend yield	Risk-free interest rate
32	2016		4.22		3.87	40.38%	5.2 yrs	0%	2.22%
33	2016		4.07		3.19	40.38%	5.1 yrs	0%	2.00%
34	2016		2.82		2.41	53.33%	5.0 yrs	0%	2.13%
34a	2016		2.76		2.41	53.33%	5.1 yrs	0%	2.13%
35	2016		2.22		1.05	53.33%	3.0 yrs	0%	1.65%

(1)	Expected life after factoring likely early exercise.

Remuneration of auditors (Tables)

12 Months Ended

Jun. 30, 2018

Auditors Remuneration [Abstract]

Summary of Fees were Paid or Payable for Services Provided by the Auditor of the Parent Entity

During the year the following fees were paid or payable for services provided by the auditor of the parent entity, its related practices and non-related audit firms:

	Year Ended June 30,
(in U.S. dollars)	2018		2017		2016
a. PricewaterhouseCoopers Australia
Audit and other assurance services
Audit and review of financial reports		620,837		729,598		437,373
Other audit services⁽¹⁾		92,403		42,306		345,965
Total remuneration of PricewaterhouseCoopers Australia		713,240		771,904		783,338

b. Network firms of PricewaterhouseCoopers Australia
Audit and other assurance services
Audit and review of financial reports		93,839		77,723		95,315
Total remuneration of Network firms of PricewaterhouseCoopers Australia		93,839		77,723		95,315
Total auditors' remuneration⁽²⁾		807,079		849,627		878,653

(1)	Audit and review of financial reports and registration statements in connection with the United States initial public offering, filing on Form S-8, F-3 and related Australian prospectuses.

(2)	All services provided are considered audit services for the purpose of SEC classification.

Losses per share (Tables)

12 Months Ended

Jun. 30, 2018

Earnings Per Share [Abstract]

Summary of Loss Per Share

	Year Ended June 30,
	2018			2017			2016
Losses per share
(in cents)
(a) Basic losses per share
From continuing operations attributable to the ordinary equity holders of the company		(7.58	)		(19.25	)		(1.13	)
Total basic losses per share attributable to the ordinary equity holders of the company		(7.58	)		(19.25	)		(1.13	)

(b) Diluted losses per share
From continuing operations attributable to the ordinary equity holders of the company		(7.58	)		(19.25	)		(1.13	)
Total basic losses per share attributable to the ordinary equity holders of the company		(7.58	)		(19.25	)		(1.13	)

(c) Reconciliation of losses used in calculating losses per share
(in U.S. dollars, in thousands)
Basic losses per share
Losses attributable to the ordinary equity holders of the company used in calculating basic losses per share:
From continuing operations		(35,290	)		(76,815	)		(4,127	)

Diluted losses per share
Losses from continuing operations attributable to the ordinary equity holders of the company:
Used in calculating basic losses per share		(35,290	)		(76,815	)		(4,127	)
Losses attributable to the ordinary equity holders of the company used in calculating diluted losses per share		(35,290	)		(76,815	)		(4,127	)

	2018 Number			2017 Number			2016 Number
Weighted average number of ordinary shares used as the denominator in calculating basic losses per share		465,688,997			399,042,172			364,208,554
Weighted average number of ordinary shares and potential ordinary shares used in calculating diluted losses per share		465,688,997			399,042,172			364,208,554

Parent entity financial information (Tables)

12 Months Ended

Jun. 30, 2018

Disclosure Of Parent Entity Financial Information [Abstract]

Summary of Parent Entity Financial Information

	As of June 30,
(in U.S. dollars, in thousands)	2018			2017
Balance Sheet
Current Assets		19,499			7,276
Total Assets		676,385			666,357

Current Liabilities		6,086			6,400
Total Liabilities		6,186			6,815

Shareholders' Equity
Issued Capital		889,480			830,424
Reserves
Foreign Currency Translation Reserve		(174,948	)		(146,840	)
Share Options Reserve		61,320			55,265
(Accumulated losses)		(105,653	)		(79,307	)
		670,199			659,542

Loss for the period		(26,346	)		(24,216	)
Total comprehensive loss for the period		(26,346	)		(24,216	)

Basis of Preparation - Additional Information (Details) € in Millions			12 Months Ended
	Jul. 17, 2018 USD ($)	Jul. 10, 2018 USD ($)	Jun. 30, 2018 USD ($)	Jun. 30, 2018 AUD ($)	Dec. 31, 2017 USD ($)	Dec. 31, 2017 EUR (€)	Jun. 30, 2017 USD ($)	Jun. 30, 2016 USD ($)	Jun. 30, 2018 EUR (€)	Jun. 30, 2015 USD ($)
Basis of Preparation [Line Items]
Comprehensive loss after income tax			$ (35,869,000)				$ (76,468,000)	$ (5,166,000)
Net cash (outflows) in operating activities			(75,012,000)				(95,471,000)	(87,996,000)
Cash & cash equivalents			37,763,000				$ 45,761,000	$ 80,937,000		$ 110,701,000
Maximum available additional funds on equity facility			$ 90,000,000	$ 120,000,000
Additional equity facility available duration			12 months	12 months
Available-for-sale financial asset measured at FVOCI			$ 2,300,000
Financial liabilities arising from contingent consideration			42,100,000
Financial liabilities carried at amortized cost			59,400,000
Royalties receivable under sales-based milestones			5,900,000						€ 5.0
Milestone revenue relating to non-refundable up-front payment					$ 5,900,000	€ 5.0
NovaQuest
Basis of Preparation [Line Items]
Proceeds from funds receivable from debt financing and unissued capital			39,000,000
JCR Pharmaceuticals Co. Ltd
Basis of Preparation [Line Items]
Royalties receivable under sales-based milestones			5,100,000
Alofisel
Basis of Preparation [Line Items]
Payment from related parties for certain product regulatory milestones			$ 10,000,000
Strategic Alliance \| NovaQuest
Basis of Preparation [Line Items]
Net proceeds from the entitlement offer recognized in cash and cash equivalents		$ 39,000,000
Strategic Alliance \| Tasly
Basis of Preparation [Line Items]
Discontinued operation, consideration	$ 40,000,000

Significant Changes in the Current Reporting Period - Additional Information (Details) € in Millions						12 Months Ended
	Jul. 17, 2018 USD ($) Milestone	Jun. 29, 2018 USD ($)	Mar. 06, 2018 USD ($)	Dec. 14, 2017 USD ($)	Dec. 14, 2017 EUR (€)	Jun. 30, 2018 USD ($)	Jun. 30, 2017 USD ($)	Jul. 17, 2018 $ / shares
Disclosure Of Significant Changes In Current Reporting Period [Line Items]
Remeasurement of deferred tax balances							21.00%
Borrowings							$ 0
Commencing period of principal repayments						October 2019
Deferred commencing period of principal repayments						October 2020
Hercules Capital, Inc. \| Floating Interest Rate
Disclosure Of Significant Changes In Current Reporting Period [Line Items]
Borrowings principal amount			$ 75,000,000
Borrowings, maturity			March 2022			March 2022
Hercules Capital, Inc. \| Floating Interest Rate \| Tranche One
Disclosure Of Significant Changes In Current Reporting Period [Line Items]
Borrowings			$ 35,000,000
Hercules Capital, Inc. \| Floating Interest Rate \| Tranche Two
Disclosure Of Significant Changes In Current Reporting Period [Line Items]
Borrowings			$ 40,000,000			$ 40,000,000
NovaQuest \| Fixed interest rate [member]
Disclosure Of Significant Changes In Current Reporting Period [Line Items]
Borrowings principal amount		$ 40,000,000
Borrowings, maturity		July 2026
Line of credit facility expiration period		8 years
NovaQuest \| Fixed interest rate [member] \| Equity Placement
Disclosure Of Significant Changes In Current Reporting Period [Line Items]
Borrowings principal amount		$ 10,000,000
NovaQuest \| Fixed interest rate [member] \| Tranche One
Disclosure Of Significant Changes In Current Reporting Period [Line Items]
Borrowings		30,000,000
NovaQuest \| Fixed interest rate [member] \| Tranche Two
Disclosure Of Significant Changes In Current Reporting Period [Line Items]
Borrowings		$ 10,000,000
Tasly \| Strategic Alliance
Disclosure Of Significant Changes In Current Reporting Period [Line Items]
Proceeds from closing of strategic alliance	$ 40,000,000
Number of escalating milestone payments \| Milestone	6
Tasly \| Technology Access Fee \| Strategic Alliance
Disclosure Of Significant Changes In Current Reporting Period [Line Items]
Proceeds from closing of strategic alliance	$ 20,000,000
Tasly \| Equity Purchase Fee \| Strategic Alliance
Disclosure Of Significant Changes In Current Reporting Period [Line Items]
Proceeds from closing of strategic alliance	$ 20,000,000
Sale of equity price per share \| $ / shares								$ 1.86
Premium percentage used to calculate equity purchase price per share	20.00%
Tasly \| Product Regulatory Approval \| Strategic Alliance
Disclosure Of Significant Changes In Current Reporting Period [Line Items]
Proceeds from closing of strategic alliance	$ 25,000,000
U.S. Corporate income tax rate
Disclosure Of Significant Changes In Current Reporting Period [Line Items]
Corporate income tax rate						21.00%	35.00%
Ti Genix NV
Disclosure Of Significant Changes In Current Reporting Period [Line Items]
Amount of non-refundable up-front payment				$ 5,900,000	€ 5.0
Additional amount of non-refundable up-front payment \| €					5.0
Maximum receipt on non refundable upfront payment upon reaching product Rrgulatory milestone \| €					€ 10.0

Loss before income tax - Summary of Loss Before Income Tax (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2016
Revenue
Commercialization Revenue	$ 3,641	$ 1,444	$ 37,969
Milestone Revenue	13,334	500	3,500
Interest Revenue	366	468	1,079
Total Revenue	17,341	2,412	42,548
Clinical trial and research & development	(42,863)	(38,141)	(30,270)
Manufacturing production & development	(3,640)	(8,313)	(21,506)
Employee benefits
Salaries and employee benefits	(19,343)	(20,039)	(24,350)
Defined contribution superannuation expenses	(374)	(362)	(362)
Equity settled share-based payment transactions	(6,199)	(5,276)	(3,389)
Total Employee benefits	(25,916)	(25,677)	(28,101)
Depreciation and amortization of non-current assets
Plant and equipment depreciation	(909)	(1,578)	(1,625)
Intellectual property amortization	(1,741)	(1,479)	(567)
Total Depreciation and amortization of non-current assets	(2,650)	(3,057)	(2,192)
Other Management & administration expenses
Overheads & administration	(8,477)	(8,128)	(10,361)
Consultancy	(3,295)	(3,329)	(3,396)
Legal, patent and other professional fees	(3,436)	(4,452)	(3,888)
Intellectual property expenses (excluding the amount amortized above)	(3,065)	(2,889)	(2,562)
Total Other Management & administration expenses	(18,273)	(18,798)	(20,207)
Fair value remeasurement of contingent consideration
Remeasurement of contingent consideration	10,541	(130)	28,112
Total Fair value remeasurement of contingent consideration	10,541	(130)	28,112
Impairment of intangible assets
Impairment of in-process research and development acquired			(61,919)
Total Impairment of intangible assets			(61,919)
Other operating income and expenses
Research & development tax incentive	1,807	1,532	3,840
Foreign exchange gains/(losses)	161	(43)	(1,126)
Foreign withholding tax paid	(656)
Total Other operating income and expenses	1,312	1,489	2,714
Finance costs
Interest expense	(1,829)
Total Finance costs	(1,829)
Loss before income tax	$ (65,977)	$ (90,215)	$ (90,821)

Loss before income tax - Summary of Loss Before Income Tax (Parenthetical) (Details) - USD ($)	12 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2016
Disclosure Of Loss Before Income Tax Line Item
Total share-based payment transactions	$ 6,198,588	$ 5,275,165	$ 3,388,662
Research and Development
Disclosure Of Loss Before Income Tax Line Item
Total share-based payment transactions	3,638,311	2,837,231	2,461,110
Manufacturing and Commercialization
Disclosure Of Loss Before Income Tax Line Item
Total share-based payment transactions	558,928	420,762	681,355
Management and Administration
Disclosure Of Loss Before Income Tax Line Item
Total share-based payment transactions	2,001,349	2,017,172	246,197
Research and Development Tax Incentive \| Australian Government
Disclosure Of Loss Before Income Tax Line Item
Other income	1,800,000	1,500,000	3,800,000
Research and Development Tax Incentive \| Australian Government \| Change In Original Estimated Receivable Amount
Disclosure Of Loss Before Income Tax Line Item
Other income	$ 100,000	$ (100,000)	$ 1,100,000

Income Tax Benefit/(Expense) - Summary of Reconciliation of Income Tax to Prima Facie Tax Payable (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2016
Disclosure Of Reconciliation Of Effective Income Tax Expense [Line Items]
Loss from continuing operations before income tax	$ (65,977)	$ (90,215)	$ (90,821)
Share-based payments expense	1,544	1,488	884
Research and development tax concessions	537	2,442	699
Foreign exchange translation gains/(losses)	(242)
Contingent consideration	(3,162)	39	(11,221)
Other sundry items	1,011	497	(1,873)
Current year tax expense/(benefit)	(20,105)	(22,599)	(38,757)
Adjustments for current tax of prior periods	(3,616)	(5,870)	(2,224)
Differences in overseas tax rates	5,259	7,797	9,192
Tax benefit not recognized	11,065	7,272	5,851
Change in tax rate on Deferred tax assets	27,471
Change in tax rate on Deferred tax liability	(50,761)
Previously unrecognized tax losses now recouped to reduce deferred tax expense/(benefit)			(60,756)
Income tax expense/(benefit) attributable to loss before income tax	(30,687)	(13,400)	(86,694)
Australian Government
Disclosure Of Reconciliation Of Effective Income Tax Expense [Line Items]
Tax benefit at the Australian tax rate of 30% (2017: 30%)	$ (19,793)	$ (27,065)	$ (27,246)

Income Tax Benefit/(Expense) - Summary of Income Tax Expense/(Benefit) (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2016
Current tax
Adjustments for current tax of prior periods	$ (3,616)	$ (5,870)	$ (2,224)
Deferred tax
(Increase)/decrease in deferred tax assets	20,183	(13,204)	(65,022)
Decrease in deferred tax liabilities	(50,870)	(196)	(21,672)
Total deferred tax expense/(benefit)	(30,687)	(13,400)	(86,694)
Income tax expense/(benefit) attributable to loss before income tax	$ (30,687)	$ (13,400)	$ (86,694)

- Definition

The aggregate amount included in the determination of profit (loss) for the period in respect of current tax and deferred tax that relate to continuing operations. [Refer: Continuing operations [member]; Current tax expense (income); Deferred tax expense (income)]

+ References + Details

Income Tax Benefit/(Expense) - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2016
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items]
Deferred tax assets not brought to account	$ 48,425	$ 38,804	$ 30,492
U.S. Corporate income tax rate
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items]
Corporate income tax rate	21.00%	35.00%

Income Tax Benefit/(Expense) - Summary of Amounts That Would Be Recognized Directly in Equity if Brought to Account (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2016
Amounts that would be recognized directly in equity if brought to account
Current tax recorded in equity (if brought to account)	$ (1,059)	$ (764)	$ (148)
Deferred tax recorded in equity (if brought to account)	877	960	808
Current and deferred tax relating to items credited (charged) directly to equity	$ (182)	$ 196	$ 660

Income Tax Benefit/(Expense) - Summary of Deferred Tax Assets Not Brought to Account (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2016
Unused tax losses
Potential tax benefit at local tax rates ,Unused tax losses	$ 41,501	$ 34,896	$ 27,060
Other temporary differences
Potential tax benefit at local tax rates ,Other temporary differences	3,704	3,908	3,432
Other tax credits
Potential tax benefit at local tax rates ,Other tax credit	3,220
Deferred tax assets not brought to account	$ 48,425	$ 38,804	$ 30,492

Financial Assets and Liabilities - Summary of Financial Instruments (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2015
Disclosure Of Financial Assets And Liabilities [Line Items]
Cash & cash equivalents	$ 37,763	$ 45,761	$ 80,937	$ 110,701
Trade & other receivables	50,366	3,743
Available-for-sale financial asset	2,321	1,997
Other non-current assets	3,361	1,916
Financial assets, Total	93,811	53,417
Trade and other payables	18,921	21,805
Borrowings	59,397
Contingent considerations	42,070	63,595
Financial liabilities, Total	120,388	85,400
Liabilities at Amortized Cost
Disclosure Of Financial Assets And Liabilities [Line Items]
Trade and other payables	18,921	21,805
Borrowings	59,397
Financial liabilities, Total	78,318	21,805
Liabilities at FVTPL
Disclosure Of Financial Assets And Liabilities [Line Items]
Contingent considerations	42,070	63,595
Financial liabilities, Total	42,070	63,595
Assets at Amortized Cost
Disclosure Of Financial Assets And Liabilities [Line Items]
Cash & cash equivalents	37,763	45,761
Trade & other receivables	50,366	3,743
Other non-current assets	3,361	1,916
Financial assets, Total	91,490	51,420
Assets at FVOCI
Disclosure Of Financial Assets And Liabilities [Line Items]
Available-for-sale financial asset	2,321	1,997
Financial assets, Total	$ 2,321	$ 1,997

Financial Assets and Liabilities - Summary of Cash and Cash Equivalents (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2015
Disclosure Of Financial Assets And Liabilities [Abstract]
Cash at bank	$ 37,221	$ 7,722	$ 21,860
Deposits at call	542	38,039	59,077
Cash and cash equivalents	$ 37,763	$ 45,761	$ 80,937	$ 110,701

Financial Assets and Liabilities - Summary of Trade and Other Receivables (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Jun. 30, 2017
Disclosure Of Financial Assets And Liabilities [Abstract]
Trade debtors	$ 6,630	$ 474
Funds receivable from debt financing and unissued capital	38,950
Income tax and tax incentives recoverable	3,305	1,631
Other receivables	615	698
Foreign withholding tax recoverable	471	471
Security deposit	250	250
Sundry debtors	81	120
Other recoverable taxes (Goods and services tax and value-added tax)	53	87
Interest receivables	11	12
Trade and other receivables	$ 50,366	$ 3,743

Financial Assets and Liabilities - Summary of Trade and Other Receivables (Parenthetical) (Details) - USD ($) $ in Thousands		12 Months Ended
	Jul. 10, 2018	Jun. 30, 2018
Disclosure Of Financial Assets And Liabilities [Line Items]
Receivable from financing agreement		$ 38,950
Net proceeds from financing facility, recognized in cash and cash equivalents		31,704
NovaQuest
Disclosure Of Financial Assets And Liabilities [Line Items]
Receivable from financing agreement		$ 39,000
NovaQuest \| Financing Facility
Disclosure Of Financial Assets And Liabilities [Line Items]
Net proceeds from financing facility, recognized in cash and cash equivalents	$ 39,000

Financial Assets and Liabilities - Summary of Prepayments (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Jun. 30, 2017
Disclosure Of Financial Assets And Liabilities [Abstract]
Clinical trial research and development expenditure	$ 12,042	$ 13,571
Other	759	340
Prepaid insurance and subscriptions	141	194
Prepayments	$ 12,942	$ 14,105

Financial Assets and Liabilities - Summary of Available-for-Sale Financial Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Jun. 30, 2017
Disclosure Of Financial Assets And Liabilities [Line Items]
Available-for-sale financial assets	$ 2,321	$ 1,997
Equity Securities
Disclosure Of Financial Assets And Liabilities [Line Items]
Available-for-sale financial assets	$ 2,321	$ 1,997

Financial Assets and Liabilities - Additional Information (Details) - USD ($)			12 Months Ended
	Jun. 29, 2018	Mar. 06, 2018	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2016	Jun. 14, 2018	Mar. 22, 2018
Disclosure Of Financial Assets And Liabilities [Line Items]
Gain (loss) recognized in comprehensive income, for change in fair value of financial assets			$ 300,000	$ 0	$ (300,000)
Borrowings				0
Other non-current assets			3,361,000	1,916,000
Interest-bearing deposits at call held as security			400,000	500,000
Security deposit			250,000	250,000
Bank Guarantee
Disclosure Of Financial Assets And Liabilities [Line Items]
Other non-current assets			710,000	738,000
Letter of Credit
Disclosure Of Financial Assets And Liabilities [Line Items]
Other non-current assets			1,178,000	$ 1,178,000
Hercules Capital, Inc.
Disclosure Of Financial Assets And Liabilities [Line Items]
Interest-bearing deposits at call held as security			500,000
Security deposit			200,000
Hercules Capital, Inc. \| Bank Guarantee
Disclosure Of Financial Assets And Liabilities [Line Items]
Other non-current assets			700,000
Hercules Capital, Inc. \| Letter of Credit
Disclosure Of Financial Assets And Liabilities [Line Items]
Other non-current assets			$ 1,200,000
Hercules Capital, Inc. \| Floating Interest Rate
Disclosure Of Financial Assets And Liabilities [Line Items]
Borrowings principal amount		$ 75,000,000
Borrowings, interest rate		9.45%	9.45%			9.95%	9.70%
Borrowings, maturity		March 2022	March 2022
Hercules Capital, Inc. \| Tranche One \| Floating Interest Rate
Disclosure Of Financial Assets And Liabilities [Line Items]
Borrowings		$ 35,000,000
Hercules Capital, Inc. \| Tranche Two \| Floating Interest Rate
Disclosure Of Financial Assets And Liabilities [Line Items]
Borrowings		$ 40,000,000	$ 40,000,000
NovaQuest Capital Management, L.L.C.
Disclosure Of Financial Assets And Liabilities [Line Items]
Description of repayment of borrowings			If there are no net sales of pediatric aGVHD, the loan is only repayable on maturity in 2026. If in any annual period 25% of net sales of pediatric aGVHD exceed the amount of accrued interest owing and, from 2022, principal and accrued interest owing (“the payment cap”), Mesoblast will pay the payment cap and an additional portion of excess sales which may be used for early prepayment of the loan. If in any annual period 25% of net sales of pediatric aGVHD is less than the payment cap, then the payment is limited to 25% of net sales of pediatric aGVHD. Any unpaid interest will be added to the principal amounts owing and shall accrue further interest. At maturity date, any unpaid loan balances are repaid.
NovaQuest Capital Management, L.L.C. \| Fixed interest rate [member]
Disclosure Of Financial Assets And Liabilities [Line Items]
Borrowings	$ 40,000,000
Borrowings principal amount	$ 40,000,000
Borrowings, interest rate	15.00%
Borrowings, maturity	July 2026		July 2026
Borrowings, interest rate basis	There is a four-year interest only period, until July 2022, with the principal repayable in equal quarterly instalments over the remaining period of the loan. The loan matures in July 2026. Interest on the loan will accrue at a fixed rate of 15% per annum.		There is a four-year interest only period, until July 2022, with the principal repayable in equal quarterly instalments over the remaining period of the loan. The loan matures in July 2026. Interest on the loan will accrue at a fixed rate of 15% per annum.
NovaQuest Capital Management, L.L.C. \| Tranche One \| Fixed interest rate [member]
Disclosure Of Financial Assets And Liabilities [Line Items]
Borrowings	$ 30,000,000
Borrowings principal amount	$ 30,000,000

Financial Assets and Liabilities - Summary of Other Non-current Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Jun. 30, 2017
Disclosure Of Financial Assets And Liabilities [Line Items]
Other non-current assets	$ 3,361	$ 1,916
Bank Guarantee
Disclosure Of Financial Assets And Liabilities [Line Items]
Other non-current assets	710	738
Letter of Credit
Disclosure Of Financial Assets And Liabilities [Line Items]
Other non-current assets	1,178	$ 1,178
U.S. Tax Credits
Disclosure Of Financial Assets And Liabilities [Line Items]
Other non-current assets	$ 1,473

Financial Assets and Liabilities - Summary of Trade and Other Payables (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Jun. 30, 2017
Disclosure Of Financial Assets And Liabilities [Abstract]
Trade and other payables	$ 18,921	$ 21,805
Trade and other payables	$ 18,921	$ 21,805

Financial Assets and Liabilities - Summary of Borrowings (Details) $ in Thousands	12 Months Ended
	Jun. 30, 2018 USD ($)
Non-current
Borrowing arrangements	$ 65,000
Less: transaction costs	(6,328)
Amortization of transaction costs	725
Borrowings	$ 59,397

Financial Assets and Liabilities - Summary of Net Debt Reconciliation (Details) $ in Thousands	12 Months Ended
	Jun. 30, 2018 USD ($)
Changes from financing cash flows
Proceeds from borrowings	$ 31,704
Payments of transaction costs from borrowings	(392)
Total changes in liabilities arising on financing cash flows	31,312
Funds receivable from debt financing	28,950
Accrued transaction costs	(1,590)
Amortization of transaction costs	725
As of June 30, 2018	59,397
Non-current Borrowings
Changes from financing cash flows
Proceeds from borrowings	31,704
Payments of transaction costs from borrowings	(392)
Total changes in liabilities arising on financing cash flows	31,312
Funds receivable from debt financing	28,950
Accrued transaction costs	(1,590)
Amortization of transaction costs	725
As of June 30, 2018	$ 59,397

Financial Assets and Liabilities - Summary of Financial Assets and Liabilities Measured and Recognized at Fair Value (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Jun. 30, 2017
Available-for-sale financial assets:
Total Financial Assets	$ 2,321	$ 1,997
Financial liabilities at fair value through profit or loss:
Contingent considerations	42,070	63,595
Total Financial Liabilities	42,070	63,595
Level 3
Available-for-sale financial assets:
Total Financial Assets	2,321	1,997
Financial liabilities at fair value through profit or loss:
Contingent considerations	42,070	63,595
Total Financial Liabilities	42,070	63,595
Equity Securities
Available-for-sale financial assets:
Total Financial Assets	2,321	1,997
Equity Securities \| Level 3
Available-for-sale financial assets:
Total Financial Assets	$ 2,321	$ 1,997

Financial Assets and Liabilities - Summary of Changes in Fair Value of Level 3 Instruments (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2016
Disclosure Of Financial Instruments [Line Items]
Remeasurement	$ (10,541)	$ 130	$ (28,112)
Level 3
Disclosure Of Financial Instruments [Line Items]
Opening balance	63,595	63,716
Amount used during the year	(10,984)	(251)
Remeasurement	(10,541)	130
Closing balance	$ 42,070	$ 63,595	$ 63,716

Financial Assets and Liabilities - Summary of Quantitative Information About the Significant Unobservable Inputs Used in Level 3 Fair Value Measurements (Details) - Level 3 - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2016
Disclosure Of Financial Instruments [Line Items]
Contingent consideration provision	$ 42,070	$ 63,595	$ 63,716
Unobservable inputs	Expected unit revenues
Relationship of unobservable inputs to fair value	Year ended June 30, 2018: A 10% increase/decrease in the price assumptions adopted would increase/decrease the fair value by 4%. Year ended June 30, 2017: A 10% increase/decrease in the price assumptions adopted would increase/decrease the fair value by 5%.
Discounted cash flow [member]
Disclosure Of Financial Instruments [Line Items]
Contingent consideration provision	$ 42,070	$ 63,595
Valuation technique	Discounted cash flows
Unobservable inputs	Risk adjusted discount rate
Relationship of unobservable inputs to fair value	Year ended June 30, 2018: A change in the discount rate by 0.5% would increase/decrease the fair value by 1%. Year ended June 30, 2017: A change in the discount rate by 0.5% would increase/decrease the fair value by 1%.
Discounted cash flow [member] \| Weighted Average
Disclosure Of Financial Instruments [Line Items]
Range of inputs (weighted average)	(12.50%)	(12.50%)
Discounted cash flow [member] \| Bottom of Range
Disclosure Of Financial Instruments [Line Items]
Range of inputs (weighted average)	11.00%	11.00%
Discounted cash flow [member] \| Top of Range
Disclosure Of Financial Instruments [Line Items]
Range of inputs (weighted average)	13.00%	13.00%
Expected Sales Volume
Disclosure Of Financial Instruments [Line Items]
Unobservable inputs	Expected sales volumes
Relationship of unobservable inputs to fair value	Year ended June 30, 2018: A 10% increase/decrease in sales volume assumptions adopted would increase/decrease the fair value by 4%. Year ended June 30, 2017: A 10% increase/decrease in sales volume assumptions adopted would increase/decrease the fair value by 5%.

Financial Assets and Liabilities - Summary of Valuation Processes of Contingent Consideration at Fair Value (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Jun. 30, 2017
Disclosure Of Financial Instruments [Abstract]
Fair value of cash or stock payable, dependent on achievement of future late-stage clinical or regulatory targets	$ 23,674	$ 34,501
Fair value of royalty payments from commercialization of the intellectual property acquired	18,396	29,094
Contingent Consideration	$ 42,070	$ 63,595

Non-financial Assets and Liabilities - Summary of Property, Plant and Equipment (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2016
Disclosure Of Property Plant And Equipment [Line Items]
Property Plant and Equipment, Beginning Balance	$ 1,814	$ 3,063
Additions	194	313
Exchange differences	(14)	19
Disposals	(1)	(3)
Plant and equipment depreciation	(909)	(1,578)	$ (1,625)
Property Plant and Equipment, Ending Balance	1,084	1,814	3,063
Cost
Disclosure Of Property Plant And Equipment [Line Items]
Property Plant and Equipment, Beginning Balance	8,499
Property Plant and Equipment, Ending Balance	8,600	8,499
Accumulated depreciation
Disclosure Of Property Plant And Equipment [Line Items]
Property Plant and Equipment, Beginning Balance	(6,685)
Property Plant and Equipment, Ending Balance	(7,516)	(6,685)
Plant and Equipment
Disclosure Of Property Plant And Equipment [Line Items]
Property Plant and Equipment, Beginning Balance	751	1,752
Additions	16	17
Exchange differences	(1)	31
Plant and equipment depreciation	(460)	(1,049)
Property Plant and Equipment, Ending Balance	306	751	1,752
Plant and Equipment \| Cost
Disclosure Of Property Plant And Equipment [Line Items]
Property Plant and Equipment, Beginning Balance	4,139
Property Plant and Equipment, Ending Balance	4,152	4,139
Plant and Equipment \| Accumulated depreciation
Disclosure Of Property Plant And Equipment [Line Items]
Property Plant and Equipment, Beginning Balance	(3,388)
Property Plant and Equipment, Ending Balance	(3,846)	(3,388)
Office Furniture and Equipment
Disclosure Of Property Plant And Equipment [Line Items]
Property Plant and Equipment, Beginning Balance	547	706
Additions	2
Exchange differences	(1)	(25)
Plant and equipment depreciation	(134)	(134)
Property Plant and Equipment, Ending Balance	414	547	706
Office Furniture and Equipment \| Cost
Disclosure Of Property Plant And Equipment [Line Items]
Property Plant and Equipment, Beginning Balance	1,255
Property Plant and Equipment, Ending Balance	1,249	1,255
Office Furniture and Equipment \| Accumulated depreciation
Disclosure Of Property Plant And Equipment [Line Items]
Property Plant and Equipment, Beginning Balance	(708)
Property Plant and Equipment, Ending Balance	(835)	(708)
Computer Hardware and Software
Disclosure Of Property Plant And Equipment [Line Items]
Property Plant and Equipment, Beginning Balance	516	605
Additions	176	296
Exchange differences	(12)	13
Disposals	(1)	(3)
Plant and equipment depreciation	(315)	(395)
Property Plant and Equipment, Ending Balance	364	516	$ 605
Computer Hardware and Software \| Cost
Disclosure Of Property Plant And Equipment [Line Items]
Property Plant and Equipment, Beginning Balance	3,105
Property Plant and Equipment, Ending Balance	3,199	3,105
Computer Hardware and Software \| Accumulated depreciation
Disclosure Of Property Plant And Equipment [Line Items]
Property Plant and Equipment, Beginning Balance	(2,589)
Property Plant and Equipment, Ending Balance	$ (2,835)	$ (2,589)

Non-financial Assets and Liabilities - Additional Information (Details)	12 Months Ended
	Jun. 30, 2018 USD ($) Segment	Jun. 30, 2017 USD ($)
Disclosure Of Non Financial Assets And Liabilities [Line Items]
Depreciation method, property, plant and equipment	Depreciation is calculated using the straight-line method to allocate their cost or revalued amounts, net of their residual values, over the estimated useful lives.
Number of reportable operating segment \| Segment	1
Impairment on intangible assets	$ 0
Employee Benefits
Disclosure Of Non Financial Assets And Liabilities [Line Items]
Current provisions for accrued annual leave	$ 700,000	$ 700,000
Discounted Cash Flow \| Bottom of Range
Disclosure Of Non Financial Assets And Liabilities [Line Items]
Real pre-tax discount rate	14.40%
Discounted Cash Flow \| Top of Range
Disclosure Of Non Financial Assets And Liabilities [Line Items]
Real pre-tax discount rate	21.00%
Licenses to Patents
Disclosure Of Non Financial Assets And Liabilities [Line Items]
Intangible assets finite useful life	7 – 16 years
Current Marketed Products
Disclosure Of Non Financial Assets And Liabilities [Line Items]
Intangible assets finite useful life	15 – 20 years
Plant and Equipment
Disclosure Of Non Financial Assets And Liabilities [Line Items]
Estimated useful lives	3 – 15 years
Office Furniture and Equipment
Disclosure Of Non Financial Assets And Liabilities [Line Items]
Estimated useful lives	3 – 10 years
Computer Hardware and Software
Disclosure Of Non Financial Assets And Liabilities [Line Items]
Estimated useful lives	3 – 4 years

Non-financial Assets and Liabilities - Summary of Intangible Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Disclosure Of Intangible Assets [Line Items]
Opening net book value	$ 586,350	$ 587,823
Exchange differences	(3)	6
Amortization charge	(1,741)	(1,479)
Closing net book value	584,606	586,350
Cost
Disclosure Of Intangible Assets [Line Items]
Opening net book value	650,920
Closing net book value	650,899	650,920
Accumulated Amortization
Disclosure Of Intangible Assets [Line Items]
Opening net book value	(2,651)
Closing net book value	(4,374)	(2,651)
Accumulated Impairment
Disclosure Of Intangible Assets [Line Items]
Opening net book value	(61,919)
Closing net book value	(61,919)	(61,919)
Goodwill
Disclosure Of Intangible Assets [Line Items]
Opening net book value	134,453	134,453
Closing net book value	134,453	134,453
Goodwill \| Cost
Disclosure Of Intangible Assets [Line Items]
Opening net book value	134,453
Closing net book value	134,453	134,453
Acquired Licenses to Patents
Disclosure Of Intangible Assets [Line Items]
Opening net book value	1,898	2,036
Exchange differences	(3)	6
Amortization charge	(125)	(144)
Closing net book value	1,770	1,898
Acquired Licenses to Patents \| Cost
Disclosure Of Intangible Assets [Line Items]
Opening net book value	2,770
Closing net book value	2,749	2,770
Acquired Licenses to Patents \| Accumulated Amortization
Disclosure Of Intangible Assets [Line Items]
Opening net book value	(872)
Closing net book value	(979)	(872)
In-process Research and Development Acquired
Disclosure Of Intangible Assets [Line Items]
Opening net book value	427,779	427,779
Closing net book value	427,779	427,779
In-process Research and Development Acquired \| Cost
Disclosure Of Intangible Assets [Line Items]
Opening net book value	489,698
Closing net book value	489,698	489,698
In-process Research and Development Acquired \| Accumulated Impairment
Disclosure Of Intangible Assets [Line Items]
Opening net book value	(61,919)
Closing net book value	(61,919)	(61,919)
Current Marketed Products
Disclosure Of Intangible Assets [Line Items]
Opening net book value	22,220	23,555
Amortization charge	(1,616)	(1,335)
Closing net book value	20,604	22,220
Current Marketed Products \| Cost
Disclosure Of Intangible Assets [Line Items]
Opening net book value	23,999
Closing net book value	23,999	23,999
Current Marketed Products \| Accumulated Amortization
Disclosure Of Intangible Assets [Line Items]
Opening net book value	(1,779)
Closing net book value	$ (3,395)	$ (1,779)

Non-financial Assets and Liabilities - Summary of Carrying Value of In Process Research and Development Acquired by Product (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2016
Disclosure Of Intangible Assets [Line Items]
Carrying value of in process research and development	$ 584,606	$ 586,350	$ 587,823
In-process Research and Development Acquired
Disclosure Of Intangible Assets [Line Items]
Carrying value of in process research and development	427,779	427,779	$ 427,779
In-process Research and Development Acquired \| Cardiovascular Products
Disclosure Of Intangible Assets [Line Items]
Carrying value of in process research and development	254,351	254,351
In-process Research and Development Acquired \| Intravenous Products
Disclosure Of Intangible Assets [Line Items]
Carrying value of in process research and development	70,730	70,730
In-process Research and Development Acquired \| Osiris MSC Products
Disclosure Of Intangible Assets [Line Items]
Carrying value of in process research and development	$ 102,698	$ 102,698

Non-financial Assets and Liabilities - Summary of Provisions (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Jun. 30, 2017
Disclosure Of Other Provisions [Line Items]
Current provisions	$ 5,082	$ 14,865
Non-current provisions	42,956	52,957
Total provisions	48,038	67,822
Contingent Consideration
Disclosure Of Other Provisions [Line Items]
Current provisions	724	11,054
Non-current provisions	41,346	52,541
Total provisions	42,070	63,595
Employee Benefits
Disclosure Of Other Provisions [Line Items]
Current provisions	4,358	3,811
Non-current provisions	101	416
Total provisions	4,459	$ 4,227
Provision for License Agreements
Disclosure Of Other Provisions [Line Items]
Non-current provisions	1,509
Total provisions	$ 1,509

Non-financial Assets and Liabilities - Summary of Deferred Tax Balances (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Jun. 30, 2017
Deferred tax assets
Tax losses	$ 55,904	$ 74,660
Other temporary differences	669	3,566
Total deferred tax assets	56,573	78,226
Deferred tax liabilities
Intangible assets	76,652	127,519
Total deferred tax liabilities	76,652	127,519
Net deferred tax liabilities	20,079	49,293
Deferred tax assets expected to be settled after 12 months	56,573	78,226
Deferred tax liabilities expected to be settled within 12 months	147	147
Deferred tax liabilities expected to be settled after 12 months	$ 76,505	$ 127,372

Non-financial Assets and Liabilities - Schedule of Movements Related to Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Deferred Tax Assets And Liabilities [Line Items]
Beginning balance	$ 49,293	$ 62,693
Reclassifications	1,473
Charged/(credited) to:
- profit or loss	(30,687)	(13,400)
Ending balance	20,079	49,293
Tax losses (DTA)
Deferred Tax Assets And Liabilities [Line Items]
Beginning balance	(74,660)	(57,650)
Reclassifications	1,473
Charged/(credited) to:
- profit or loss	17,283	(17,010)
Ending balance	(55,904)	(74,660)
Other Temporary Differences (DTA)
Deferred Tax Assets And Liabilities [Line Items]
Beginning balance	(3,566)	(7,372)
Charged/(credited) to:
- profit or loss	2,897	3,806
Ending balance	(669)	(3,566)
Intangible Assets (DTL)
Deferred Tax Assets And Liabilities [Line Items]
Beginning balance	127,519	127,715
Charged/(credited) to:
- profit or loss	(50,867)	(196)
Ending balance	$ 76,652	$ 127,519

Equity - Schedule of Share Capital (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2015
Contributed equity
Ordinary shares(1)	482,639,654	428,221,398	381,373,137	336,997,729
Total Equity	$ 546,008	$ 516,766	$ 528,161	$ 467,987
Ordinary Shares
Contributed equity
Ordinary shares(1)	482,639,654	428,221,398	381,373,137
Less: Treasury Shares	(3,500,000)	(3,500,000)	(3,500,000)
Total Contributed Equity	479,139,654	424,721,398	377,873,137
Ordinary shares(1)	$ 889,481	$ 830,425	$ 770,272
Total Equity	$ 889,481	$ 830,425	$ 770,272	$ 709,191

- Definition

The amount of residual interest in the assets of the entity after deducting all its liabilities.

+ References + Details

Summary of Movements in Ordinary Share Capital (Details) $ in Thousands	12 Months Ended
	Jun. 30, 2018 USD ($) shares	Jun. 30, 2017 USD ($) shares	Jun. 30, 2016 USD ($) shares
Disclosure Of Classes Of Share Capital [Line Items]
Beginning balance, Shares \| shares	428,221,398	381,373,137	336,997,729
Transactions with owners in their capacity as owners:
Exercise of share options \| shares	289,245	272,579	422,903
Consideration for available-for-sale financial assets \| shares			1,277,210
Share based compensation for services rendered \| shares	540,051	280,911
Payment for contingent consideration \| shares	6,029,545
Entitlement offer to existing eligible shareholders \| shares	36,191,982
Issues of ordinary shares during the period \| shares	45,943,680	46,848,261	44,375,408
Unissued ordinary shares during the period \| shares	8,474,576
Total contributions of equity during the period \| shares	54,418,256	46,848,261	44,375,408
Ending balance, Shares \| shares	482,639,654	428,221,398	381,373,137
Beginning balance	$ 516,766	$ 528,161	$ 467,987
Ending balance	$ 546,008	$ 516,766	528,161
Ordinary Shares
Disclosure Of Classes Of Share Capital [Line Items]
Beginning balance, Shares \| shares	428,221,398	381,373,137
Transactions with owners in their capacity as owners:
Exercise of share options	$ 116	$ 149	268
Consideration for available-for-sale financial assets			1,495
Share based compensation for services rendered	662	240
Payment for contingent consideration	10,000
Entitlement offer to existing eligible shareholders	40,449
Transaction costs arising on share issue	(2,869)	(1,959)	(9,096)
Issues of ordinary shares during the period	49,358	60,140	60,947
Issues of ordinary shares during the period	9,660
Total contributions of equity during the period	$ 59,018	$ 60,140	$ 60,947
Ending balance, Shares \| shares	482,639,654	428,221,398	381,373,137
Beginning balance	$ 830,425	$ 770,272	$ 709,191
Share options reserve transferred to equity on exercise of options	38	13	134
Ending balance	889,481	$ 830,425	$ 770,272
Unissued Ordinary Shares \| Ordinary Shares
Transactions with owners in their capacity as owners:
Transaction costs arising on share issue	$ (340)
Placement Agreement
Transactions with owners in their capacity as owners:
Placement of shares \| shares		46,294,771
Placement Agreement \| Ordinary Shares
Transactions with owners in their capacity as owners:
Placement of shares		$ 61,710
Placement Agreement \| Unissued Ordinary Shares
Transactions with owners in their capacity as owners:
Placement of shares \| shares	8,474,576
Placement Agreement \| Unissued Ordinary Shares \| Ordinary Shares
Transactions with owners in their capacity as owners:
Placement of shares	$ 10,000
Equity Facility Agreement
Transactions with owners in their capacity as owners:
Placement of shares \| shares	2,000,000
License Agreement
Transactions with owners in their capacity as owners:
Placement of shares \| shares	892,857
License Agreement \| Ordinary Shares
Transactions with owners in their capacity as owners:
Placement of shares	$ 1,000
Nasdaq IPO
Transactions with owners in their capacity as owners:
Share issue for Nasdaq IPO \| shares			42,675,295
Nasdaq IPO \| Ordinary Shares
Transactions with owners in their capacity as owners:
Share issue for Nasdaq IPO			$ 68,280

Equity - Summary of Reserves (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2016
Disclosure Of Reserves Within Equity [Line Items]
Reserves	$ 36,719	$ 31,243
Share-Based Payments Reserve
Disclosure Of Reserves Within Equity [Line Items]
Reserves	75,974	69,919	$ 64,999
Investment Revaluation Reserve
Disclosure Of Reserves Within Equity [Line Items]
Reserves	21	(303)	(334)
Foreign Currency Translation Reserve
Disclosure Of Reserves Within Equity [Line Items]
Reserves	$ (39,276)	$ (38,373)	$ (38,689)

Equity - Summary of Reconciliation of Reserves (Details) - USD ($) $ in Thousands		12 Months Ended
	Mar. 25, 2015	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2016
Disclosure Of Reserves Within Equity [Line Items]
Opening balance		$ 31,243
Fair value of share-based payments		5,959	$ 5,036	$ 3,149
Reclassification of modified options to liability	$ 600	134	(103)	1,244
Currency gain/(loss) on translation of foreign operations		(903)	316
Closing Balance		36,719	31,243
Share-Based Payments Reserve
Disclosure Of Reserves Within Equity [Line Items]
Opening balance		69,919	64,999
Transfer to ordinary shares on exercise of options		(38)	(13)
Fair value of share-based payments		5,959	5,036
Reclassification of modified options to liability		134	(103)
Closing Balance		75,974	69,919	64,999
Investment Revaluation Reserve
Disclosure Of Reserves Within Equity [Line Items]
Opening balance		(303)	(334)
Changes in the fair value of available-for-sale financial assets		324	31
Closing Balance		21	(303)	(334)
Foreign Currency Translation Reserve
Disclosure Of Reserves Within Equity [Line Items]
Opening balance		(38,373)	(38,689)
Closing Balance		$ (39,276)	$ (38,373)	$ (38,689)

Cash Flow Information - Summary of Cash Flow Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2015
Reconciliation of cash and cash equivalents
Cash at bank	$ 37,221	$ 7,722	$ 21,860
Deposits at call	542	38,039	59,077
Cash and cash equivalents	37,763	45,761	80,937	$ 110,701
Cash flows from operating activities
Loss for the year	(35,290)	(76,815)	(4,127)
Add/(deduct) net loss for non-cash items as follows:
Depreciation and amortization	2,650	3,057	2,192
Foreign exchange (gains)/losses	(160)	38	1,090
Finance costs	725
Remeasurement of contingent consideration	(10,541)	130	(28,112)
Payment under a license agreement paid in shares	1,000
Equity settled share-based payment	6,199	5,276	3,389
Deferred tax benefit	(30,664)	(13,400)	(86,694)
Impairment of intangible assets			61,919
Commercialization revenue			(37,509)
Change in operating assets and liabilities:
(Increase)/decrease in trade and other receivables	(6,093)	(859)	(531)
Decrease/(increase) in prepayments	1,503	(10,201)	495
(Increase)/decrease in tax assets	(1,807)	1,282	626
(Decrease)/increase in trade creditors and accruals	(4,464)	(5,740)	2,425
(Decrease)/increase in provisions	1,930	1,761	(3,159)
Net cash (outflows) in operating activities	$ (75,012)	$ (95,471)	$ (87,996)

Financial Risk Management - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Disclosure of Financial Risk Management [Line Items]
Change in interest rate effect on profit loss	5.00%
Disclosure - Financial Risk Management - Additional Information (Details) [Line Items]
Percentage of forecast net sales	20.00%
Increase non-current borrowing	$ 2.3
Decrease in profit	2.3
Decrease non-current borrowings	1.3
Increase in profit	$ 1.3
Percentage of decrease in net sales	20.00%
Currency Risk \| USD
Disclosure of Financial Risk Management [Line Items]
Percentage of cash held	92.00%	95.00%
Currency Risk \| AUD
Disclosure of Financial Risk Management [Line Items]
Percentage of cash held	8.00%	5.00%
Interest Rate Risk
Disclosure of Financial Risk Management [Line Items]
Effect on profit from change in tax rate	10.00%	10.00%
Liquidity Risk
Disclosure of Financial Risk Management [Line Items]
Non-interest bearing financial liabilities maturing period	6 months	6 months

Financial Risk Management - Summary of Borrowings of Interest Rate Changes (Details) $ in Thousands	Jun. 30, 2018 USD ($)
Disclosure of Financial Risk Management [Line Items]
Variable rate borrowings	$ 32,000
Interest Rate Risk
Disclosure of Financial Risk Management [Line Items]
Variable rate borrowings	$ 31,966
Percentage of loans	54.00%
Interest Rate Risk \| Hercules Capital, Inc.
Disclosure of Financial Risk Management [Line Items]
Variable rate borrowings	$ 31,966
Percentage of loans	54.00%

Financial Risk Management - Schedule of Borrowings which Expose Interest Rate Risk Together with the Maximum and Minimum Interest Rates Being Earned (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Disclosure of Financial Risk Management [Line Items]
Variable rate borrowings	$ 32,000
Bottom of Range
Disclosure of Financial Risk Management [Line Items]
Rate decrease	9.45%
Interest Rate Risk
Disclosure of Financial Risk Management [Line Items]
Variable rate borrowings	$ 31,966
Interest Rate Risk \| USD
Disclosure of Financial Risk Management [Line Items]
Variable rate borrowings	31,966
Rate increase on borrowings	159
Rate decrease on borrowings	$ (159)
Interest Rate Risk \| USD \| Bottom of Range
Disclosure of Financial Risk Management [Line Items]
Borrowings Interest rate	9.95%
Rate increase	0.88%	0.61%
Rate decrease	0.72%	0.50%
Interest Rate Risk \| USD \| Bottom of Range \| Borrowings
Disclosure of Financial Risk Management [Line Items]
Rate increase	10.45%
Rate decrease	9.45%
Interest Rate Risk \| USD \| Top of Range
Disclosure of Financial Risk Management [Line Items]
Borrowings Interest rate	9.95%
Rate increase	0.88%	0.61%
Rate decrease	0.72%	0.50%
Interest Rate Risk \| USD \| Top of Range \| Borrowings
Disclosure of Financial Risk Management [Line Items]
Rate increase	10.45%
Rate decrease	9.45%

Financial Risk Management - Schedule of Borrowings which Expose Interest Rate Risk Together with the Maximum and Minimum Interest Rates Being Earned (Parenthetical) (Details) $ in Millions	12 Months Ended
	Jun. 30, 2018 USD ($)
Disclosure of Financial Risk Management [Line Items]
Variable rate borrowings	$ 32.0
Bottom of Range
Disclosure of Financial Risk Management [Line Items]
Rate decrease	9.45%

Financial Risk Management - Schedule of Deposits Held which Derive Interest Revenue Together with the Maximum and Minimum Interest Rates Being Earned (Details) $ in Thousands, $ in Thousands	12 Months Ended
	Jun. 30, 2018 USD ($)	Jun. 30, 2018 AUD ($)	Jun. 30, 2017 USD ($)	Jun. 30, 2017 AUD ($)
Bottom of Range
Disclosure of Financial Risk Management [Line Items]
Rate decrease	9.45%	9.45%
Interest Rate Risk \| USD
Disclosure of Financial Risk Management [Line Items]
Funds invested	$ 99		$ 37,577
Rate increase on funds invested	0		21
Rate decrease on funds invested	$ 0		$ (21)
Interest Rate Risk \| AUD
Disclosure of Financial Risk Management [Line Items]
Funds invested		$ 600		$ 600
Rate increase on funds invested		2		1
Rate decrease on funds invested		$ (2)		$ (1)
Interest Rate Risk \| Bottom of Range \| USD
Disclosure of Financial Risk Management [Line Items]
Funds invested percentage	0.80%	0.80%	0.55%	0.55%
Rate increase	0.88%	0.88%	0.61%	0.61%
Rate decrease	0.72%	0.72%	0.50%	0.50%
Interest Rate Risk \| Bottom of Range \| AUD
Disclosure of Financial Risk Management [Line Items]
Funds invested percentage	2.72%	2.72%	2.42%	2.42%
Rate increase	2.99%	2.99%	2.66%	2.66%
Rate decrease	2.45%	2.45%	2.18%	2.18%
Interest Rate Risk \| Top of Range \| USD
Disclosure of Financial Risk Management [Line Items]
Funds invested percentage	0.80%	0.80%	0.55%	0.55%
Rate increase	0.88%	0.88%	0.61%	0.61%
Rate decrease	0.72%	0.72%	0.50%	0.50%
Interest Rate Risk \| Top of Range \| AUD
Disclosure of Financial Risk Management [Line Items]
Funds invested percentage	2.72%	2.72%	2.42%	2.42%
Rate increase	2.99%	2.99%	2.66%	2.66%
Rate decrease	2.45%	2.45%	2.18%	2.18%

Financial Risk Management - Schedule of Deposits Held which Derive Interest Revenue Together with the Maximum and Minimum Interest Rates Being Earned (Parenthetical) (Details) - Interest Rate Risk	12 Months Ended
	Jun. 30, 2018	Dec. 31, 2017
USD
Disclosure of Financial Risk Management [Line Items]
Effect on profit from change in interest rate increase or decrease	10.00%	10.00%
AUD
Disclosure of Financial Risk Management [Line Items]
Effect on profit from change in interest rate increase or decrease	10.00%	10.00%

Financial Risk Management - Summary of Borrowing to Price Rate Changes (Details) $ in Thousands	Jun. 30, 2018 USD ($)
Disclosure of Financial Risk Management [Line Items]
Borrowings	$ 59,397
Price Risk
Disclosure of Financial Risk Management [Line Items]
Borrowings	$ 27,431
Percent of total loans	46.00%
NovaQuest \| Price Risk
Disclosure of Financial Risk Management [Line Items]
Borrowings	$ 27,431
Percent of total loans	46.00%

Financial Risk Management - Summary of Group's Receivables (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2016
Reconciliation of cash and cash equivalents
Deposits at call	$ 542	$ 38,039	$ 59,077
Cash at bank	37,221	7,722	$ 21,860
Trade and other receivables
Other recoverable taxes (Goods and services tax and value-added tax)	53	87
Credit Risk \| Minimum A Rated
Reconciliation of cash and cash equivalents
Deposits at call	542	38,039
Cash at bank	37,221	7,722
Trade and other receivables
Receivable from minimum A rated bank deposits (interest)	262	12
Credit Risk \| Non-Rated
Trade and other receivables
Receivable from other parties (non-rated)	45,745	1,067
Credit Risk \| Australian Government
Trade and other receivables
Receivable from the Australian Government (Income Tax)	3,305	1,631
Receivable from the Australian Government (Foreign Withholding Tax)	400
Other recoverable taxes (Goods and services tax and value-added tax)	48	86
Credit Risk \| U.S. Corporate income tax rate
Trade and other receivables
Receivable from the Australian Government (Income Tax)	24	27
Other non-current assets
Receivable from the United States Government (U.S. tax credits)	1,473
Credit Risk \| Swiss Government
Trade and other receivables
Receivable from the Swiss Government (Value-Added Tax)	$ 6	$ 1

Financial Risk Management - Schedule of Maturity Profile of Anticipated Future Contractual Cash Flows Borrowings and Carrying Value (Details) $ in Thousands	Jun. 30, 2018 USD ($)
Disclosure Of Maturity Analysis For Derivative Financial Liabilities [Line Items]
Total contractual cash flows	$ (123,477)
Carrying amount	(59,397)
Within 1 year [Member]
Disclosure Of Maturity Analysis For Derivative Financial Liabilities [Line Items]
Total contractual cash flows	(3,928)
Between 1-2 years [Member]
Disclosure Of Maturity Analysis For Derivative Financial Liabilities [Line Items]
Total contractual cash flows	(15,495)
Between 2-5 years [Member]
Disclosure Of Maturity Analysis For Derivative Financial Liabilities [Line Items]
Total contractual cash flows	(54,826)
Over 5 years [Member]
Disclosure Of Maturity Analysis For Derivative Financial Liabilities [Line Items]
Total contractual cash flows	(49,228)
Borrowings
Disclosure Of Maturity Analysis For Derivative Financial Liabilities [Line Items]
Total contractual cash flows	(123,477)
Carrying amount	(59,397)
Borrowings \| Within 1 year [Member]
Disclosure Of Maturity Analysis For Derivative Financial Liabilities [Line Items]
Total contractual cash flows	(3,928)
Borrowings \| Between 1-2 years [Member]
Disclosure Of Maturity Analysis For Derivative Financial Liabilities [Line Items]
Total contractual cash flows	(15,495)
Borrowings \| Between 2-5 years [Member]
Disclosure Of Maturity Analysis For Derivative Financial Liabilities [Line Items]
Total contractual cash flows	(54,826)
Borrowings \| Over 5 years [Member]
Disclosure Of Maturity Analysis For Derivative Financial Liabilities [Line Items]
Total contractual cash flows	$ (49,228)

Interests in Other Entities - Summary of Group's Principal Subsidiaries (Details) - Ordinary Shares	12 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Mesoblast, Inc.
Disclosure Of Significant Investments In Subsidiaries [Line Items]
Name of subsidiary	Mesoblast, Inc.
Country of incorporation	USA
Equity holding	100.00%	100.00%
Mesoblast International Sàrl
Disclosure Of Significant Investments In Subsidiaries [Line Items]
Name of subsidiary	Mesoblast International Sàrl (includes Mesoblast International Sàrl Singapore Branch)
Country of incorporation	Switzerland
Equity holding	100.00%	100.00%
Mesoblast Australia Pty Ltd
Disclosure Of Significant Investments In Subsidiaries [Line Items]
Name of subsidiary	Mesoblast Australia Pty Ltd
Country of incorporation	Australia
Equity holding	100.00%	100.00%
Mesoblast UK Ltd
Disclosure Of Significant Investments In Subsidiaries [Line Items]
Name of subsidiary	Mesoblast UK Ltd
Country of incorporation	United Kingdom
Equity holding	100.00%	100.00%
Mesoblast International (UK) Ltd
Disclosure Of Significant Investments In Subsidiaries [Line Items]
Name of subsidiary	Mesoblast International (UK) Ltd
Country of incorporation	United Kingdom
Equity holding	100.00%	100.00%

Contingent Assets and Liabilities - Additional Information (Details) - USD ($)	12 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Disclosure Of Contingent Assets And Liabilities [Line Items]
Contingent assets outstanding	$ 0	$ 0
CALHNI \| Top of Range
Disclosure Of Contingent Assets And Liabilities [Line Items]
Aggregated milestone payments	$ 2,200,000

Commitments - Additional Information (Details) - USD ($)	12 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Commitments [Line Items]
Future capital expenditure commitments outstanding	$ 0	$ 0
Operating leases expiration term	2 years
Purchase commitments	$ 0
Bottom of Range
Commitments [Line Items]
Operating leases expiration term	1 years
Top of Range
Commitments [Line Items]
Operating leases expiration term	4 years

Commitments - Schedule of Lease Commitments, Group as Lessee (Details) - Lessee $ in Thousands	12 Months Ended
	Jun. 30, 2018 USD ($)
Disclosure Of Finance Lease And Operating Lease By Lessee [Line Items]
Operating leases	$ 3,926
Total commitments	3,926
Within One Year
Disclosure Of Finance Lease And Operating Lease By Lessee [Line Items]
Operating leases	1,651
Total commitments	1,651
Later Than One Year But No Later Than Three Years
Disclosure Of Finance Lease And Operating Lease By Lessee [Line Items]
Operating leases	2,240
Total commitments	2,240
Later Than Three Years But No Later Than Five Years
Disclosure Of Finance Lease And Operating Lease By Lessee [Line Items]
Operating leases	35
Total commitments	$ 35

Commitments - Schedule of Lease Commitments, Group as Lessor (Details) - Lessor $ in Thousands	12 Months Ended
	Jun. 30, 2018 USD ($)
Disclosure Of Finance Lease And Operating Lease By Lessor [Line Items]
Operating leases	$ 220
Total commitments	220
Within One Year
Disclosure Of Finance Lease And Operating Lease By Lessor [Line Items]
Operating leases	155
Total commitments	155
Later Than One Year But No Later Than Three Years
Disclosure Of Finance Lease And Operating Lease By Lessor [Line Items]
Operating leases	65
Total commitments	$ 65

Events Occurring After the Reporting Period - Additional Information (Details) - Jul. 17, 2018 - Strategic Alliance - Tasly $ in Millions	USD ($) Milestone	$ / shares
Disclosure Of Nonadjusting Events After Reporting Period [Line Items]
Proceeds from closing of strategic alliance	$ 40.0
Number of escalating milestone payments \| Milestone	6
Technology Access Fee
Disclosure Of Nonadjusting Events After Reporting Period [Line Items]
Proceeds from closing of strategic alliance	$ 20.0
Equity Purchase Fee
Disclosure Of Nonadjusting Events After Reporting Period [Line Items]
Proceeds from closing of strategic alliance	$ 20.0
Sale of equity price per share \| $ / shares		$ 1.86
Premium percentage used to calculate equity purchase price per share	20.00%
Product Regulatory Approval
Disclosure Of Nonadjusting Events After Reporting Period [Line Items]
Proceeds from closing of strategic alliance	$ 25.0

Related party transactions - Summary of Aggregate Compensation made to Directors and other Members of key Management Personnel (Details) - USD ($)	12 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Disclosure Of Key Management Personnel Compensation [Abstract]
Short-term employee benefits	$ 2,577,166	$ 2,592,456
Long-term employee benefits	5,648	17,742
Post-employment benefits	66,539	70,915
Share based payments	(60,858)	552,174
Key management personnel compensation	$ 2,588,495	$ 3,233,287

Share-Based Payments - Additional Information (Details)		12 Months Ended
Share-Based Payments - Additional Information (Details)	Mar. 25, 2015 USD ($)	Jun. 30, 2018 USD ($) shares Tranche	Jun. 30, 2018 AUD ($) shares Tranche	Dec. 31, 2017	Jun. 30, 2017 USD ($) shares	Jun. 30, 2017 AUD ($) shares	Jun. 30, 2016 USD ($) shares	Jun. 30, 2016 AUD ($) shares	Jun. 30, 2015 USD ($) shares	Jun. 30, 2015 AUD ($) shares	Jun. 30, 2018 $ / shares	Jun. 30, 2017 $ / shares	Jun. 30, 2016 $ / shares
Disclosure Of Sharebased Payment Arrangements [Line Items]
Description of grant date and expiry term of options and loan funded shares		In accordance with the Company’s policy, options and loan funded shares are typically issued in three equal tranches. For issues granted prior to July 1, 2015 the length of time from grant date to expiry date was typically 5 years. Grants since July 1, 2015, are issued with a seven year term.	In accordance with the Company’s policy, options and loan funded shares are typically issued in three equal tranches. For issues granted prior to July 1, 2015 the length of time from grant date to expiry date was typically 5 years. Grants since July 1, 2015, are issued with a seven year term.
Description of vesting requirements of options issued		Options issued to employees generally vest based on service or time conditions. In the year ended June 30, 2018, senior executives were issued options that vest based on performance conditions. For time based vesting options, the first tranche typically vests 12 months after grant date, the second tranche 24 months after grant date, and the third tranche 36 months after grant date.	Options issued to employees generally vest based on service or time conditions. In the year ended June 30, 2018, senior executives were issued options that vest based on performance conditions. For time based vesting options, the first tranche typically vests 12 months after grant date, the second tranche 24 months after grant date, and the third tranche 36 months after grant date.
Percentage of premium attached with time based vesting condition options		10.00%	10.00%
Percentage of premium attached with performance based vesting condition options		0.00%	0.00%
Stock options issued during period shares new issues to directors \| shares		0	0
Employee share option plan, maximum number of options available for issuance \| shares		10,000,000	10,000,000
Weighted average remaining contractual life of outstanding share options and loan funded		4 years 2 months 26 days	4 years 2 months 26 days		4 years 1 month 2 days	4 years 1 month 2 days	3 years 10 months 6 days	3 years 10 months 6 days
Number of tranches \| Tranche		3	3
Option exercise term in connection with cessation of employment		60 days	60 days
Number of equal tranches vesting on achievement of milestones \| Tranche		4
Commercial license vested date				Dec. 07, 2010
Intervertebral disc repair vested date				Mar. 17, 2011
Repurchased aggregate loan amount									$ 13,900,000	$ 17,700,000
Cancellation of ordinary shares \| shares									2,985,000	2,985,000
Exercise of share options \| shares		289,245	289,245		272,579	272,579	422,903	422,903
Reclassification of modified options to liability	$ 600,000	$ 134,000			$ (103,000)		$ 1,244,000
Exercise price of outstanding options		$ 0.02
Modification made to share based payment arrangements					no	no
Weighted average share purchase price, Granted No. (during the year)			$ 0.61			$ 1.46		$ 1.07
Dividend yield on shares underlying options		0.00%	0.00%
Closing share market price of ordinary share \| $ / shares											$ 1.48	$ 2.08	$ 1.08
Bottom of Range
Disclosure Of Sharebased Payment Arrangements [Line Items]
Exercise of share options										4.44
Top of Range
Disclosure Of Sharebased Payment Arrangements [Line Items]
Exercise of share options										4.98
Issues Granted Prior to July 1, 2015
Disclosure Of Sharebased Payment Arrangements [Line Items]
Expiry term of options		5 years	5 years
Issues Granted Since July 1, 2015
Disclosure Of Sharebased Payment Arrangements [Line Items]
Expiry term of options		7 years	7 years
Tranche One
Disclosure Of Sharebased Payment Arrangements [Line Items]
Tranche vesting term		1 year	1 year
Tranche Two
Disclosure Of Sharebased Payment Arrangements [Line Items]
Tranche vesting term		2 years	2 years
Tranche Three
Disclosure Of Sharebased Payment Arrangements [Line Items]
Tranche vesting term		3 years	3 years
Patient Enrollment
Disclosure Of Sharebased Payment Arrangements [Line Items]
Intervertebral disc repair vested date				Oct. 12, 2012
TGA [Member]
Disclosure Of Sharebased Payment Arrangements [Line Items]
License vested date				Jul. 20, 2010
Series INC
Disclosure Of Sharebased Payment Arrangements [Line Items]
Options conversion ratio		63.978	63.978
Options vested on acquisition date		Dec. 07, 2010	Dec. 07, 2010
Series 31b
Disclosure Of Sharebased Payment Arrangements [Line Items]
Number of equal tranches vest on date \| Tranche		2
Series 36(a&b) \| Bottom of Range
Disclosure Of Sharebased Payment Arrangements [Line Items]
Number of equal tranches vest on date \| Tranche		2
Series 36(a&b) \| Top of Range
Disclosure Of Sharebased Payment Arrangements [Line Items]
Number of equal tranches vest on date \| Tranche		3
38a & 40a
Disclosure Of Sharebased Payment Arrangements [Line Items]
Number of tranches \| Tranche		1	1
Series 39a \| Bottom of Range
Disclosure Of Sharebased Payment Arrangements [Line Items]
Number of equal tranches vesting on achievement of milestones \| Tranche		1
Series 39a \| Top of Range
Disclosure Of Sharebased Payment Arrangements [Line Items]
Number of equal tranches vesting on achievement of milestones \| Tranche		2
AUD
Disclosure Of Sharebased Payment Arrangements [Line Items]
Weighted average exercise price of share options exercised in share-based payment arrangement		$ 1.46			$ 3.28		3.68
Weighted average share purchase price, Granted No. (during the year)		$ 1.74			$ 1.32		$ 3.32
AUD \| Series 31b
Disclosure Of Sharebased Payment Arrangements [Line Items]
Description of grant date and expiry term of options and loan funded shares		12/05/2015	12/05/2015		12/05/2015	12/05/2015	12/05/2015	12/05/2015
Exercise price of outstanding options		$ 4.28			$ 4.30		$ 4.30
AUD \| Series 39a
Disclosure Of Sharebased Payment Arrangements [Line Items]
Description of grant date and expiry term of options and loan funded shares		13/10/2017	13/10/2017
Exercise price of outstanding options		$ 1.76

Share-Based Payments - Reconciliation of Outstanding Share Based Payments (Details)	12 Months Ended
	Jun. 30, 2018 USD ($) shares	Jun. 30, 2018 AUD ($) shares	Dec. 31, 2017 USD ($)	Jun. 30, 2017 USD ($) shares	Jun. 30, 2017 AUD ($) shares	Jun. 30, 2016 USD ($) shares	Jun. 30, 2016 AUD ($) shares	Jun. 30, 2015 USD ($) shares
Disclosure Of Reconciliation Of Outstanding Share Based Payments [Line Items]
Grant Date	In accordance with the Company’s policy, options and loan funded shares are typically issued in three equal tranches. For issues granted prior to July 1, 2015 the length of time from grant date to expiry date was typically 5 years. Grants since July 1, 2015, are issued with a seven year term.	In accordance with the Company’s policy, options and loan funded shares are typically issued in three equal tranches. For issues granted prior to July 1, 2015 the length of time from grant date to expiry date was typically 5 years. Grants since July 1, 2015, are issued with a seven year term.
Exercise Price \| $	$ 0.02
Opening Balance	25,100,246	25,100,246		25,414,490	25,414,490	21,869,078	21,869,078
Granted No. (during the year)	6,360,000	6,360,000		7,145,000	7,145,000	11,880,000	11,880,000
Exercised No. (during the year)	(289,245)	(289,245)		(272,579)	(272,579)	(422,903)	(422,903)
Lapsed/Cancelled No. (during the year)	(4,841,667)	(4,841,667)		(7,186,665)	(7,186,665)	(7,911,685)	(7,911,685)
Closing Balance	26,329,334	26,329,334		25,100,246	25,100,246	25,414,490	25,414,490	21,869,078
Vested and exercisable No (end of year)	14,339,320			12,165,245		10,574,500
Weighted average share purchase price, Granted No. (during the year) \| $		$ 0.61			$ 1.46		$ 1.07
AUD
Disclosure Of Reconciliation Of Outstanding Share Based Payments [Line Items]
Weighted average share purchase price, Opening balance \| $	$ 2.68		$ 3.35	$ 3.35		$ 4.39		$ 5.49
Weighted average share purchase price, Granted No. (during the year) \| $	1.74			1.32		3.32
Weighted average share purchase price, Exercised No. (during the year) \| $	0.52			0.72		0.88
Weighted average share purchase price, Lapsed/Cancelled No. (during the year) \| $	4.97			5.10		5.93
Weighted average share purchase price, Vested and exercisable No (end of year) \| $	$ 3.39			$ 4.36		$ 5.38
Series INC \| USD
Disclosure Of Reconciliation Of Outstanding Share Based Payments [Line Items]
Grant Date	7/12/2010	7/12/2010		7/12/2010	7/12/2010	7/12/2010	7/12/2010
Expiry Date	26/10/2018	26/10/2018		26/10/2018	26/10/2018	26/10/2018	26/10/2018
Exercise Price \| $	$ 0.305			$ 0.305		$ 0.305
Opening Balance	154,064	154,064		154,064	154,064	154,064	154,064
Exercised No. (during the year)	(127,956)	(127,956)
Closing Balance	26,108	26,108		154,064	154,064	154,064	154,064	154,064
Vested and exercisable No (end of year)	26,108			154,064		154,064
Series INC \| USD
Disclosure Of Reconciliation Of Outstanding Share Based Payments [Line Items]
Grant Date	7/12/2010	7/12/2010		7/12/2010	7/12/2010	7/12/2010	7/12/2010
Expiry Date	26/10/2019	26/10/2019		26/10/2019	26/10/2019	26/10/2019	26/10/2019
Exercise Price \| $	$ 0.340			$ 0.340		$ 0.340
Opening Balance	447,848	447,848		447,848	447,848	447,848	447,848
Exercised No. (during the year)	(127,956)	(127,956)
Closing Balance	319,892	319,892		447,848	447,848	447,848	447,848	447,848
Vested and exercisable No (end of year)	319,892			447,848		447,848
Series 17/LF3 \| AUD
Disclosure Of Reconciliation Of Outstanding Share Based Payments [Line Items]
Grant Date	9/07/2012	9/07/2012		9/07/2012	9/07/2012	9/07/2012	9/07/2012
Expiry Date	8/07/2018	8/07/2018		8/07/2018	8/07/2018	8/07/2018	8/07/2018
Exercise Price \| $	$ 6.67			$ 6.69		$ 6.69
Opening Balance	150,000	150,000		250,000	250,000	250,000	250,000
Lapsed/Cancelled No. (during the year)				(100,000)	(100,000)
Closing Balance	150,000	150,000		150,000	150,000	250,000	250,000	250,000
Vested and exercisable No (end of year)	150,000			150,000		250,000
Series 19/LF5 \| AUD
Disclosure Of Reconciliation Of Outstanding Share Based Payments [Line Items]
Grant Date	25/01/2013-29/01/2013	25/01/2013-29/01/2013		25/01/2013-29/01/2013	25/01/2013-29/01/2013	25/01/2013-29/01/2013	25/01/2013-29/01/2013
Expiry Date	24/01/2018-28/01/2018	24/01/2018-28/01/2018		24/01/2018-28/01/2018	24/01/2018-28/01/2018	24/01/2018-28/01/2018	24/01/2018-28/01/2018
Exercise Price \| $	$ 6.27			$ 6.29		$ 6.29
Opening Balance	50,000	50,000		100,000	100,000	100,000	100,000
Lapsed/Cancelled No. (during the year)	(50,000)	(50,000)		(50,000)	(50,000)
Closing Balance				50,000	50,000	100,000	100,000	100,000
Vested and exercisable No (end of year)				50,000		100,000
Series 20/LF6 \| AUD
Disclosure Of Reconciliation Of Outstanding Share Based Payments [Line Items]
Grant Date	24/05/2013	24/05/2013		24/05/2013	24/05/2013	24/05/2013	24/05/2013
Expiry Date	23/05/2018	23/05/2018		23/05/2018	23/05/2018	23/05/2018	23/05/2018
Exercise Price \| $	$ 6.34			$ 6.36		$ 6.36
Opening Balance	425,000	425,000		595,000	595,000	865,000	865,000
Lapsed/Cancelled No. (during the year)	(425,000)	(425,000)		(170,000)	(170,000)	(270,000)	(270,000)
Closing Balance				425,000	425,000	595,000	595,000	865,000
Vested and exercisable No (end of year)				425,000		595,000
Series 21/LF7 \| AUD
Disclosure Of Reconciliation Of Outstanding Share Based Payments [Line Items]
Grant Date	3/09/2013	3/09/2013		3/09/2013	3/09/2013	3/09/2013	3/09/2013
Expiry Date	30/06/2018	30/06/2018		30/06/2018	30/06/2018	30/06/2018	30/06/2018
Exercise Price \| $	$ 5.90			$ 5.92		$ 5.92
Opening Balance	1,865,000	1,865,000		2,430,000	2,430,000	2,741,667	2,741,667
Lapsed/Cancelled No. (during the year)	(1,865,000)	(1,865,000)		(565,000)	(565,000)	(311,667)	(311,667)
Closing Balance				1,865,000	1,865,000	2,430,000	2,430,000	2,741,667
Vested and exercisable No (end of year)				1,865,000		1,878,336
Series 22/LF8 \| AUD
Disclosure Of Reconciliation Of Outstanding Share Based Payments [Line Items]
Grant Date	4/09/2013	4/09/2013		4/09/2013	4/09/2013	4/09/2013	4/09/2013
Expiry Date	27/08/2018	27/08/2018		27/08/2018	27/08/2018	27/08/2018	27/08/2018
Exercise Price \| $	$ 6.26			$ 6.28		$ 6.28
Opening Balance	225,000	225,000		225,000	225,000	275,000	275,000
Lapsed/Cancelled No. (during the year)						(50,000)	(50,000)
Closing Balance	225,000	225,000		225,000	225,000	225,000	225,000	275,000
Vested and exercisable No (end of year)	225,000			225,000		150,002
Series 25b \| AUD
Disclosure Of Reconciliation Of Outstanding Share Based Payments [Line Items]
Grant Date	12/12/2014	12/12/2014		12/12/2014	12/12/2014	12/12/2014	12/12/2014
Expiry Date	31/10/2019	31/10/2019		31/10/2019	31/10/2019	31/10/2019	31/10/2019
Exercise Price \| $	$ 4.49			$ 4.51		$ 4.51
Opening Balance	50,000	50,000		50,000	50,000	50,000	50,000
Closing Balance	50,000	50,000		50,000	50,000	50,000	50,000	50,000
Vested and exercisable No (end of year)	50,000			33,334		16,667
Series 27/LF12 \| AUD
Disclosure Of Reconciliation Of Outstanding Share Based Payments [Line Items]
Grant Date	5/09/2014	5/09/2014		5/09/2014	5/09/2014	5/09/2014	5/09/2014
Expiry Date	30/06/2019	30/06/2019		30/06/2019	30/06/2019	30/06/2019	30/06/2019
Exercise Price \| $	$ 4.69			$ 4.71		$ 4.71
Opening Balance	2,070,000	2,070,000		2,865,000	2,865,000	3,380,000	3,380,000
Lapsed/Cancelled No. (during the year)	(25,000)	(25,000)		(795,000)	(795,000)	(515,000)	(515,000)
Closing Balance	2,045,000	2,045,000		2,070,000	2,070,000	2,865,000	2,865,000	3,380,000
Vested and exercisable No (end of year)	2,045,000			1,380,004		961,670
Series 27(iv) \| AUD
Disclosure Of Reconciliation Of Outstanding Share Based Payments [Line Items]
Grant Date	25/08/2014	25/08/2014		25/08/2014	25/08/2014	25/08/2014	25/08/2014
Expiry Date	24/08/2019	24/08/2019		24/08/2019	24/08/2019	24/08/2019	24/08/2019
Exercise Price \| $	$ 4.65			$ 4.67		$ 4.67
Opening Balance	75,000	75,000		75,000	75,000	75,000	75,000
Lapsed/Cancelled No. (during the year)	(75,000)	(75,000)
Closing Balance				75,000	75,000	75,000	75,000	75,000
Vested and exercisable No (end of year)				50,000		25,000
Series 28/LF13 \| AUD
Disclosure Of Reconciliation Of Outstanding Share Based Payments [Line Items]
Grant Date	9/10/2014	9/10/2014		9/10/2014	9/10/2014	9/10/2014	9/10/2014
Expiry Date	8/10/2019	8/10/2019		8/10/2019	8/10/2019	8/10/2019	8/10/2019
Exercise Price \| $	$ 4.52			$ 4.54		$ 4.54
Opening Balance	85,000	85,000		235,000	235,000	235,000	235,000
Lapsed/Cancelled No. (during the year)	(10,000)	(10,000)		(150,000)	(150,000)
Closing Balance	75,000	75,000		85,000	85,000	235,000	235,000	235,000
Vested and exercisable No (end of year)	75,000			56,666		78,333
Series 25a (i&ii) \| AUD
Disclosure Of Reconciliation Of Outstanding Share Based Payments [Line Items]
Grant Date	1/01/2014	1/01/2014		1/01/2014	1/01/2014	1/01/2014	1/01/2014
Expiry Date	31/12/2018	31/12/2018		31/12/2018	31/12/2018	31/12/2018	31/12/2018
Exercise Price \| $	$ 6.36			$ 6.38		$ 6.38
Opening Balance	650,000	650,000		650,000	650,000	650,000	650,000
Closing Balance	650,000	650,000		650,000	650,000	650,000	650,000	650,000
Vested and exercisable No (end of year)	650,000			650,000		650,000
Series 29 \| AUD
Disclosure Of Reconciliation Of Outstanding Share Based Payments [Line Items]
Grant Date	25/11/2014	25/11/2014		25/11/2014	25/11/2014	25/11/2014	25/11/2014
Expiry Date	24/11/2019	24/11/2019		24/11/2019	24/11/2019	24/11/2019	24/11/2019
Exercise Price \| $	$ 4.00			$ 4.02		$ 4.02
Opening Balance	240,000	240,000		240,000	240,000	240,000	240,000
Closing Balance	240,000	240,000		240,000	240,000	240,000	240,000	240,000
Vested and exercisable No (end of year)	240,000			160,002		80,001
Series 30a \| AUD
Disclosure Of Reconciliation Of Outstanding Share Based Payments [Line Items]
Grant Date	25/03/2015	25/03/2015		25/03/2015	25/03/2015	25/03/2015	25/03/2015
Expiry Date	30/06/2018	30/06/2018		30/06/2018	30/06/2018	30/06/2018	30/06/2018
Exercise Price \| $	$ 4.98			$ 5.00		$ 5.00
Opening Balance	650,000	650,000		650,000	650,000	650,000	650,000
Lapsed/Cancelled No. (during the year)	(650,000)	(650,000)
Closing Balance				650,000	650,000	650,000	650,000	650,000
Vested and exercisable No (end of year)				650,000		650,000
Series 30b \| AUD
Disclosure Of Reconciliation Of Outstanding Share Based Payments [Line Items]
Grant Date	25/03/2015	25/03/2015		25/03/2015	25/03/2015	25/03/2015	25/03/2015
Expiry Date	25/01/2018	25/01/2018		25/01/2018	25/01/2018	25/01/2018	25/01/2018
Exercise Price \| $	$ 4.98			$ 5.00		$ 5.00
Opening Balance	235,000	235,000		235,000	235,000	235,000	235,000
Lapsed/Cancelled No. (during the year)	(235,000)	(235,000)
Closing Balance				235,000	235,000	235,000	235,000	235,000
Vested and exercisable No (end of year)				235,000		235,000
Series 30c \| AUD
Disclosure Of Reconciliation Of Outstanding Share Based Payments [Line Items]
Grant Date	25/03/2015	25/03/2015		25/03/2015	25/03/2015	25/03/2015	25/03/2015
Expiry Date	20/01/2019	20/01/2019		20/01/2019	20/01/2019	20/01/2019	20/01/2019
Exercise Price \| $	$ 4.98			$ 5.00		$ 5.00
Opening Balance	135,000	135,000		135,000	135,000	135,000	135,000
Closing Balance	135,000	135,000		135,000	135,000	135,000	135,000	135,000
Vested and exercisable No (end of year)	135,000			135,000		135,000
Series 30d \| AUD
Disclosure Of Reconciliation Of Outstanding Share Based Payments [Line Items]
Grant Date	25/03/2015	25/03/2015		25/03/2015	25/03/2015	25/03/2015	25/03/2015
Expiry Date	25/01/2019	25/01/2019		25/01/2019	25/01/2019	25/01/2019	25/01/2019
Exercise Price \| $	$ 4.98			$ 5.00		$ 5.00
Opening Balance	300,000	300,000		300,000	300,000	300,000	300,000
Closing Balance	300,000	300,000		300,000	300,000	300,000	300,000	300,000
Vested and exercisable No (end of year)	300,000			300,000		200,000
Series 30e \| AUD
Disclosure Of Reconciliation Of Outstanding Share Based Payments [Line Items]
Grant Date	25/03/2015	25/03/2015		25/03/2015	25/03/2015	25/03/2015	25/03/2015
Expiry Date	25/01/2018	25/01/2018		25/01/2018	25/01/2018	25/01/2018	25/01/2018
Exercise Price \| $	$ 4.98			$ 5.00		$ 5.00
Opening Balance	165,000	165,000		165,000	165,000	165,000	165,000
Lapsed/Cancelled No. (during the year)	(165,000)	(165,000)
Closing Balance				165,000	165,000	165,000	165,000	165,000
Vested and exercisable No (end of year)				165,000		165,000
Series 30f \| AUD
Disclosure Of Reconciliation Of Outstanding Share Based Payments [Line Items]
Grant Date	25/03/2015	25/03/2015		25/03/2015	25/03/2015	25/03/2015	25/03/2015
Expiry Date	25/01/2019	25/01/2019		25/01/2019	25/01/2019	25/01/2019	25/01/2019
Exercise Price \| $	$ 4.98			$ 5.00		$ 5.00
Opening Balance	200,000	200,000		200,000	200,000	200,000	200,000
Closing Balance	200,000	200,000		200,000	200,000	200,000	200,000	200,000
Vested and exercisable No (end of year)	200,000			200,000		200,000
Series 30g \| AUD
Disclosure Of Reconciliation Of Outstanding Share Based Payments [Line Items]
Grant Date	25/03/2015	25/03/2015		25/03/2015	25/03/2015	25/03/2015	25/03/2015
Expiry Date	23/07/2019	23/07/2019		23/07/2019	23/07/2019	23/07/2019	23/07/2019
Exercise Price \| $	$ 4.69			$ 4.71		$ 4.71
Opening Balance	300,000	300,000		300,000	300,000	300,000	300,000
Lapsed/Cancelled No. (during the year)	(300,000)	(300,000)
Closing Balance				300,000	300,000	300,000	300,000	300,000
Vested and exercisable No (end of year)				200,000		100,000
Series 30h \| AUD
Disclosure Of Reconciliation Of Outstanding Share Based Payments [Line Items]
Grant Date	25/03/2015	25/03/2015		25/03/2015	25/03/2015	25/03/2015	25/03/2015
Expiry Date	30/06/2019	30/06/2019		30/06/2019	30/06/2019	30/06/2019	30/06/2019
Exercise Price \| $	$ 4.69			$ 4.71		$ 4.71
Opening Balance	400,000	400,000		400,000	400,000	400,000	400,000
Closing Balance	400,000	400,000		400,000	400,000	400,000	400,000	400,000
Vested and exercisable No (end of year)	400,000			266,668		133,334
Series 30i \| AUD
Disclosure Of Reconciliation Of Outstanding Share Based Payments [Line Items]
Grant Date	25/03/2015	25/03/2015		25/03/2015	25/03/2015	25/03/2015	25/03/2015
Expiry Date	30/06/2019	30/06/2019		30/06/2019	30/06/2019	30/06/2019	30/06/2019
Exercise Price \| $	$ 4.44			$ 4.46		$ 4.46
Opening Balance	600,000	600,000		600,000	600,000	600,000	600,000
Closing Balance	600,000	600,000		600,000	600,000	600,000	600,000	600,000
Vested and exercisable No (end of year)	600,000			600,000		400,000
Series 30j \| AUD
Disclosure Of Reconciliation Of Outstanding Share Based Payments [Line Items]
Grant Date	25/03/2015	25/03/2015		25/03/2015	25/03/2015	25/03/2015	25/03/2015
Expiry Date	23/07/2019	23/07/2019		23/07/2019	23/07/2019	23/07/2019	23/07/2019
Exercise Price \| $	$ 4.69			$ 4.71		$ 4.71
Opening Balance	150,000	150,000		150,000	150,000	150,000	150,000
Lapsed/Cancelled No. (during the year)	(150,000)	(150,000)
Closing Balance				150,000	150,000	150,000	150,000	150,000
Vested and exercisable No (end of year)				100,000		50,000
Series LF14 \| AUD
Disclosure Of Reconciliation Of Outstanding Share Based Payments [Line Items]
Grant Date	6/01/2015	6/01/2015		6/01/2015	6/01/2015	6/01/2015	6/01/2015
Expiry Date	16/12/2019	16/12/2019		16/12/2019	16/12/2019	16/12/2019	16/12/2019
Exercise Price \| $	$ 4.66			$ 4.66		$ 4.66
Opening Balance	150,000	150,000		150,000	150,000	150,000	150,000
Closing Balance	150,000	150,000		150,000	150,000	150,000	150,000	150,000
Vested and exercisable No (end of year)	150,000			100,000		50,000
Series 31b \| AUD
Disclosure Of Reconciliation Of Outstanding Share Based Payments [Line Items]
Grant Date	12/05/2015	12/05/2015		12/05/2015	12/05/2015	12/05/2015	12/05/2015
Expiry Date	16/02/2020	16/02/2020		16/02/2020	16/02/2020	16/02/2020	16/02/2020
Exercise Price \| $	$ 4.28			$ 4.30		$ 4.30
Opening Balance	200,000	200,000		200,000	200,000	400,000	400,000
Lapsed/Cancelled No. (during the year)						(200,000)	(200,000)
Closing Balance	200,000	200,000		200,000	200,000	200,000	200,000	400,000
Vested and exercisable No (end of year)	200,000			200,000		200,000
Series 32 \| AUD
Disclosure Of Reconciliation Of Outstanding Share Based Payments [Line Items]
Grant Date	10/07/2015	10/07/2015		10/07/2015	10/07/2015	10/07/2015	10/07/2015
Expiry Date	30/06/2022	30/06/2022		30/06/2022	30/06/2022	30/06/2022	30/06/2022
Exercise Price \| $	$ 4.20			$ 4.22		$ 4.22
Opening Balance	2,620,000	2,620,000		3,840,000	3,840,000
Granted No. (during the year)						4,800,000	4,800,000
Lapsed/Cancelled No. (during the year)	(161,666)	(161,666)		(1,220,000)	(1,220,000)	(960,000)	(960,000)
Closing Balance	2,458,334	2,458,334		2,620,000	2,620,000	3,840,000	3,840,000
Vested and exercisable No (end of year)	1,683,336			873,334
Series 33 \| AUD
Disclosure Of Reconciliation Of Outstanding Share Based Payments [Line Items]
Grant Date	26/08/2015	26/08/2015		26/08/2015	26/08/2015	26/08/2015	26/08/2015
Expiry Date	16/08/2022	16/08/2022		16/08/2022	16/08/2022	16/08/2022	16/08/2022
Exercise Price \| $	$ 4.05			$ 4.07		$ 4.07
Opening Balance	91,667	91,667		125,000	125,000
Granted No. (during the year)						125,000	125,000
Lapsed/Cancelled No. (during the year)	(16,667)	(16,667)		(33,333)	(33,333)
Closing Balance	75,000	75,000		91,667	91,667	125,000	125,000
Vested and exercisable No (end of year)	50,000			41,667
Series 34 \| AUD
Disclosure Of Reconciliation Of Outstanding Share Based Payments [Line Items]
Grant Date	27/04/2016	27/04/2016		27/04/2016	27/04/2016	27/04/2016	27/04/2016
Expiry Date	6/03/2023	6/03/2023		6/03/2023	6/03/2023	6/03/2023	6/03/2023
Exercise Price \| $	$ 2.80			$ 2.82		$ 2.82
Opening Balance	3,621,667	3,621,667		5,140,000	5,140,000
Granted No. (during the year)						5,255,000	5,255,000
Exercised No. (during the year)				(16,667)	(16,667)
Lapsed/Cancelled No. (during the year)	(241,667)	(241,667)		(1,501,666)	(1,501,666)	(115,000)	(115,000)
Closing Balance	3,380,000	3,380,000		3,621,667	3,621,667	5,140,000	5,140,000
Vested and exercisable No (end of year)	2,299,982			1,218,324
Series 34a \| AUD
Disclosure Of Reconciliation Of Outstanding Share Based Payments [Line Items]
Grant Date	27/04/2016	27/04/2016		27/04/2016	27/04/2016	27/04/2016	27/04/2016
Expiry Date	17/04/2023	17/04/2023		17/04/2023	17/04/2023	17/04/2023	17/04/2023
Exercise Price \| $	$ 2.74			$ 2.76		$ 2.76
Opening Balance	200,000	200,000		200,000	200,000
Granted No. (during the year)						200,000	200,000
Closing Balance	200,000	200,000		200,000	200,000	200,000	200,000
Vested and exercisable No (end of year)	133,334			66,667
Series 34b \| AUD
Disclosure Of Reconciliation Of Outstanding Share Based Payments [Line Items]
Grant Date	31/10/2016	31/10/2016		31/10/2016	31/10/2016
Expiry Date	6/03/2023	6/03/2023		6/03/2023	6/03/2023
Exercise Price \| $	$ 2.80			$ 2.82
Opening Balance	200,000	200,000
Granted No. (during the year)				200,000	200,000
Closing Balance	200,000	200,000		200,000	200,000
Vested and exercisable No (end of year)	200,000			200,000
Series 35 \| AUD
Disclosure Of Reconciliation Of Outstanding Share Based Payments [Line Items]
Grant Date	30/06/2016	30/06/2016		30/06/2016	30/06/2016	30/06/2016	30/06/2016
Expiry Date	18/01/2021	18/01/2021		18/01/2021	18/01/2021	18/01/2021	18/01/2021
Exercise Price \| $	$ 2.20			$ 2.22		$ 2.22
Opening Balance	1,500,000	1,500,000		1,500,000	1,500,000
Granted No. (during the year)						1,500,000	1,500,000
Closing Balance	1,500,000	1,500,000		1,500,000	1,500,000	1,500,000	1,500,000
Vested and exercisable No (end of year)	1,500,000
Series 36 \| AUD
Disclosure Of Reconciliation Of Outstanding Share Based Payments [Line Items]
Grant Date	6/12/2016	6/12/2016		6/12/2016	6/12/2016
Expiry Date	5/12/2023	5/12/2023		5/12/2023	5/12/2023
Exercise Price \| $	$ 1.31			$ 1.33
Opening Balance	2,045,000	2,045,000
Granted No. (during the year)				2,095,000	2,095,000
Exercised No. (during the year)	(33,333)	(33,333)
Lapsed/Cancelled No. (during the year)	(126,667)	(126,667)		(50,000)	(50,000)
Closing Balance	1,885,000	1,885,000		2,045,000	2,045,000
Vested and exercisable No (end of year)	611,666
Series 36a \| AUD
Disclosure Of Reconciliation Of Outstanding Share Based Payments [Line Items]
Grant Date	6/12/2016	6/12/2016		6/12/2016	6/12/2016
Expiry Date	5/12/2023	5/12/2023		5/12/2023	5/12/2023
Exercise Price \| $	$ 1.19			$ 1.21
Opening Balance	4,400,000	4,400,000
Granted No. (during the year)				4,400,000	4,400,000
Closing Balance	4,400,000	4,400,000		4,400,000	4,400,000
Vested and exercisable No (end of year)	1,495,002			816,667
Series 36b \| AUD
Disclosure Of Reconciliation Of Outstanding Share Based Payments [Line Items]
Grant Date	13/01/2017	13/01/2017		13/01/2017	13/01/2017
Expiry Date	12/01/2024	12/01/2024		12/01/2024	12/01/2024
Exercise Price \| $	$ 1.65			$ 1.67
Opening Balance	450,000	450,000
Granted No. (during the year)				450,000	450,000
Lapsed/Cancelled No. (during the year)	(150,000)	(150,000)
Closing Balance	300,000	300,000		450,000	450,000
Vested and exercisable No (end of year)	300,000			150,000
Series 37 \| AUD
Disclosure Of Reconciliation Of Outstanding Share Based Payments [Line Items]
Grant Date	28/06/2017	28/06/2017
Expiry Date	27/06/2024	27/06/2024
Exercise Price \| $	$ 2.23
Granted No. (during the year)	300,000	300,000
Closing Balance	300,000	300,000
Vested and exercisable No (end of year)	100,000
Series 38 \| AUD
Disclosure Of Reconciliation Of Outstanding Share Based Payments [Line Items]
Grant Date	16/09/2017	16/09/2017
Expiry Date	15/09/2024	15/09/2024
Exercise Price \| $	$ 1.54
Granted No. (during the year)	100,000	100,000
Closing Balance	100,000	100,000
Series 38 A \| AUD
Disclosure Of Reconciliation Of Outstanding Share Based Payments [Line Items]
Grant Date	16/09/2017	16/09/2017
Expiry Date	15/09/2024	15/09/2024
Exercise Price \| $	$ 1.40
Granted No. (during the year)	150,000	150,000
Closing Balance	150,000	150,000
Series 39 \| AUD
Disclosure Of Reconciliation Of Outstanding Share Based Payments [Line Items]
Grant Date	13/10/2017	13/10/2017
Expiry Date	12/10/2024	12/10/2024
Exercise Price \| $	$ 1.94
Granted No. (during the year)	2,310,000	2,310,000
Lapsed/Cancelled No. (during the year)	(95,000)	(95,000)
Closing Balance	2,215,000	2,215,000
Series 39 A \| AUD
Disclosure Of Reconciliation Of Outstanding Share Based Payments [Line Items]
Grant Date	13/10/2017	13/10/2017
Expiry Date	12/10/2024	12/10/2024
Exercise Price \| $	$ 1.76
Granted No. (during the year)	2,000,000	2,000,000
Lapsed/Cancelled No. (during the year)	(100,000)	(100,000)
Closing Balance	1,900,000	1,900,000
Vested and exercisable No (end of year)	200,000
Series 40 \| AUD
Disclosure Of Reconciliation Of Outstanding Share Based Payments [Line Items]
Grant Date	24/11/2017	24/11/2017
Expiry Date	23/11/2024	23/11/2024
Exercise Price \| $	$ 1.41
Granted No. (during the year)	750,000	750,000
Closing Balance	750,000	750,000
Series 40 A \| AUD
Disclosure Of Reconciliation Of Outstanding Share Based Payments [Line Items]
Grant Date	24/11/2017	24/11/2017
Expiry Date	23/11/2024	23/11/2024
Exercise Price \| $	$ 1.28
Granted No. (during the year)	750,000	750,000
Closing Balance	750,000	750,000
Series INC \| USD
Disclosure Of Reconciliation Of Outstanding Share Based Payments [Line Items]
Grant Date				7/12/2010	7/12/2010	7/12/2010	7/12/2010
Expiry Date				25/04/2017	25/04/2017	25/04/2017	25/04/2017
Exercise Price \| $				$ 0.444		$ 0.444
Opening Balance				127,956	127,956	127,956	127,956
Exercised No. (during the year)				(127,956)	(127,956)
Closing Balance						127,956	127,956	127,956
Vested and exercisable No (end of year)						127,956
Series INC \| USD
Disclosure Of Reconciliation Of Outstanding Share Based Payments [Line Items]
Grant Date				7/12/2010	7/12/2010	7/12/2010	7/12/2010
Expiry Date				2/05/2017	2/05/2017	2/05/2017	2/05/2017
Exercise Price \| $				$ 0.444		$ 0.444
Opening Balance				127,956	127,956	127,956	127,956
Exercised No. (during the year)				(127,956)	(127,956)
Closing Balance						127,956	127,956	127,956
Vested and exercisable No (end of year)						127,956
Series 16/LF2 \| AUD
Disclosure Of Reconciliation Of Outstanding Share Based Payments [Line Items]
Grant Date				24/02/2012	24/02/2012	24/02/2012	24/02/2012
Expiry Date				23/02/2017	23/02/2017	23/02/2017	23/02/2017
Exercise Price \| $				$ 8.480		$ 8.48
Opening Balance				340,000	340,000	340,000	340,000
Lapsed/Cancelled No. (during the year)				(340,000)	(340,000)
Closing Balance						340,000	340,000	340,000
Vested and exercisable No (end of year)						340,000
Series 18/LF4 \| AUD
Disclosure Of Reconciliation Of Outstanding Share Based Payments [Line Items]
Grant Date				21/09/2012-29/10/2012	21/09/2012-29/10/2012	21/09/2012-29/10/2012	21/09/2012-29/10/2012
Expiry Date				30/06/2017	30/06/2017	30/06/2017	30/06/2017
Exercise Price \| $				$ 6.70		$ 6.70
Opening Balance				1,948,333	1,948,333	2,276,667	2,276,667
Lapsed/Cancelled No. (during the year)				(1,948,333)	(1,948,333)	(328,334)	(328,334)
Closing Balance						1,948,333	1,948,333	2,276,667
Vested and exercisable No (end of year)						1,948,333
Series 23a \| AUD
Disclosure Of Reconciliation Of Outstanding Share Based Payments [Line Items]
Grant Date				26/11/2013	26/11/2013	26/11/2013	26/11/2013
Expiry Date				10/10/2018	10/10/2018	10/10/2018	10/10/2018
Exercise Price \| $				$ 6.20		$ 6.20
Opening Balance				33,333	33,333	50,000	50,000
Lapsed/Cancelled No. (during the year)				(33,333)	(33,333)	(16,667)	(16,667)
Closing Balance						33,333	33,333	50,000
Vested and exercisable No (end of year)						33,333
Series 24 \| AUD
Disclosure Of Reconciliation Of Outstanding Share Based Payments [Line Items]
Grant Date				17/12/2013	17/12/2013	17/12/2013	17/12/2013
Expiry Date				16/12/2018	16/12/2018	16/12/2018	16/12/2018
Exercise Price \| $				$ 6.25		$ 6.25
Opening Balance				25,000	25,000	148,333	148,333
Lapsed/Cancelled No. (during the year)				(25,000)	(25,000)	(123,333)	(123,333)
Closing Balance						25,000	25,000	148,333
Vested and exercisable No (end of year)						16,666
Series 25 \| AUD
Disclosure Of Reconciliation Of Outstanding Share Based Payments [Line Items]
Grant Date				1/07/2014	1/07/2014	1/07/2014	1/07/2014
Expiry Date				6/04/2019	6/04/2019	6/04/2019	6/04/2019
Exercise Price \| $				$ 5.80		$ 5.80
Opening Balance				10,000	10,000	15,000	15,000
Lapsed/Cancelled No. (during the year)				(10,000)	(10,000)	(5,000)	(5,000)
Closing Balance						10,000	10,000	15,000
Vested and exercisable No (end of year)						10,000
Series 26/LF11 \| AUD
Disclosure Of Reconciliation Of Outstanding Share Based Payments [Line Items]
Grant Date				24/07/2014	24/07/2014	24/07/2014	24/07/2014
Expiry Date				23/07/2019	23/07/2019	23/07/2019	23/07/2019
Exercise Price \| $				$ 4.71		$ 4.71
Opening Balance				125,000	125,000	215,000	215,000
Lapsed/Cancelled No. (during the year)				(125,000)	(125,000)	(90,000)	(90,000)
Closing Balance						125,000	125,000	215,000
Vested and exercisable No (end of year)						41,667
Series 27(ii) \| AUD
Disclosure Of Reconciliation Of Outstanding Share Based Payments [Line Items]
Grant Date				4/08/2014	4/08/2014	4/08/2014	4/08/2014
Expiry Date				3/08/2019	3/08/2019	3/08/2019	3/08/2019
Exercise Price \| $				$ 4.60		$ 4.60
Opening Balance				50,000	50,000	50,000	50,000
Lapsed/Cancelled No. (during the year)				(50,000)	(50,000)
Closing Balance						50,000	50,000	50,000
Vested and exercisable No (end of year)						16,667
Series 31a \| AUD
Disclosure Of Reconciliation Of Outstanding Share Based Payments [Line Items]
Grant Date				27/04/2015	27/04/2015	27/04/2015	27/04/2015
Expiry Date				16/02/2020	16/02/2020	16/02/2020	16/02/2020
Exercise Price \| $				$ 4.73		$ 4.73
Opening Balance				20,000	20,000	20,000	20,000
Lapsed/Cancelled No. (during the year)				(20,000)	(20,000)
Closing Balance						20,000	20,000	20,000
Vested and exercisable No (end of year)						6,667
Series INC \| USD
Disclosure Of Reconciliation Of Outstanding Share Based Payments [Line Items]
Grant Date						7/12/2010	7/12/2010
Expiry Date						7/07/2015	7/07/2015
Exercise Price \| $						$ 0.046
Opening Balance						287,903	287,903
Exercised No. (during the year)						(287,903)	(287,903)
Closing Balance								287,903
Series 13 \| AUD
Disclosure Of Reconciliation Of Outstanding Share Based Payments [Line Items]
Grant Date						22/09/2010	22/09/2010
Expiry Date						21/09/2015	21/09/2015
Exercise Price \| $						$ 2.64
Opening Balance						135,000	135,000
Exercised No. (during the year)						(135,000)	(135,000)
Closing Balance								135,000
Series 14 \| AUD
Disclosure Of Reconciliation Of Outstanding Share Based Payments [Line Items]
Grant Date						29/11/2010	29/11/2010
Expiry Date						29/11/2015	29/11/2015
Exercise Price \| $						$ 3.48
Opening Balance						1,453,350	1,453,350
Lapsed/Cancelled No. (during the year)						(1,453,350)	(1,453,350)
Closing Balance								1,453,350
Series 15/LF1 \| AUD
Disclosure Of Reconciliation Of Outstanding Share Based Payments [Line Items]
Grant Date						22/12/2011	22/12/2011
Expiry Date						30/06/2016	30/06/2016
Exercise Price \| $						$ 7.99
Opening Balance						3,413,334	3,413,334
Lapsed/Cancelled No. (during the year)						(3,413,334)	(3,413,334)
Closing Balance								3,413,334
Series 31 \| AUD
Disclosure Of Reconciliation Of Outstanding Share Based Payments [Line Items]
Grant Date						16/03/2015	16/03/2015
Expiry Date						16/02/2020	16/02/2020
Exercise Price \| $						$ 4.73
Opening Balance						60,000	60,000
Lapsed/Cancelled No. (during the year)						(60,000)	(60,000)
Closing Balance								60,000

Share-Based Payments - Reconciliation of Outstanding Share Based Payments (Parenthetical) (Details) - shares	12 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2016
Disclosure Of Reconciliation Of Outstanding Share Based Payments [Line Items]
Granted No. (during the year)	6,360,000	7,145,000	11,880,000
Loan Funded Share Plan
Disclosure Of Reconciliation Of Outstanding Share Based Payments [Line Items]
Granted No. (during the year)	2,985,000	2,985,000	2,985,000

Share-Based Payments - Summary of Valuations of Options Approved and Granted (Details) - $ / shares	12 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2016
Series 37
Disclosure Of Reconciliation Of Outstanding Share Based Payments [Line Items]
Financial year of grant	2018
Exercise/Loan price per share	$ 2.23
Share price at acceptance date	$ 2.02
Expected share price volatility	52.21%
Expected life after factoring	5 years 9 months 18 days
Dividend yield	0.00%
Risk-free interest rate	2.22%
Series 38
Disclosure Of Reconciliation Of Outstanding Share Based Payments [Line Items]
Financial year of grant	2018
Exercise/Loan price per share	$ 1.54
Share price at acceptance date	$ 1.37
Expected share price volatility	52.04%
Expected life after factoring	5 years 9 months 18 days
Dividend yield	0.00%
Risk-free interest rate	2.41%
Series 38 A
Disclosure Of Reconciliation Of Outstanding Share Based Payments [Line Items]
Financial year of grant	2018
Exercise/Loan price per share	$ 1.40
Share price at acceptance date	$ 1.37
Expected share price volatility	52.56%
Expected life after factoring	5 years 9 months 18 days
Dividend yield	0.00%
Risk-free interest rate	2.27%
Series 39
Disclosure Of Reconciliation Of Outstanding Share Based Payments [Line Items]
Financial year of grant	2018
Exercise/Loan price per share	$ 1.94
Share price at acceptance date	$ 1.34
Expected share price volatility	52.49%
Expected life after factoring	5 years 10 months 24 days
Dividend yield	0.00%
Risk-free interest rate	2.16%
Series 39 A
Disclosure Of Reconciliation Of Outstanding Share Based Payments [Line Items]
Financial year of grant	2018
Exercise/Loan price per share	$ 1.76
Share price at acceptance date	$ 1.34
Expected share price volatility	52.49%
Expected life after factoring	5 years 10 months 24 days
Dividend yield	0.00%
Risk-free interest rate	2.16%
Series 40
Disclosure Of Reconciliation Of Outstanding Share Based Payments [Line Items]
Financial year of grant	2018
Exercise/Loan price per share	$ 1.41
Share price at acceptance date	$ 1.32
Expected share price volatility	52.35%
Expected life after factoring	5 years 9 months 18 days
Dividend yield	0.00%
Risk-free interest rate	2.43%
Series 40 A
Disclosure Of Reconciliation Of Outstanding Share Based Payments [Line Items]
Financial year of grant	2018
Exercise/Loan price per share	$ 1.28
Share price at acceptance date	$ 1.32
Expected share price volatility	52.35%
Expected life after factoring	5 years 9 months 18 days
Dividend yield	0.00%
Risk-free interest rate	2.43%
Series 34b
Disclosure Of Reconciliation Of Outstanding Share Based Payments [Line Items]
Financial year of grant		2017
Exercise/Loan price per share		$ 2.82
Share price at acceptance date		$ 1.24
Expected share price volatility		51.13%
Expected life after factoring		4 years 7 months 6 days
Dividend yield		0.00%
Risk-free interest rate		2.16%
Series 36
Disclosure Of Reconciliation Of Outstanding Share Based Payments [Line Items]
Financial year of grant		2017
Exercise/Loan price per share		$ 1.33
Share price at acceptance date		$ 2.32
Expected share price volatility		51.63%
Expected life after factoring		5 years 6 months
Dividend yield		0.00%
Risk-free interest rate		2.15%
Series 36a
Disclosure Of Reconciliation Of Outstanding Share Based Payments [Line Items]
Financial year of grant		2017
Exercise/Loan price per share		$ 1.21
Share price at acceptance date		$ 2.32
Expected share price volatility		51.63%
Expected life after factoring		5 years 6 months
Dividend yield		0.00%
Risk-free interest rate		2.15%
Series 36b
Disclosure Of Reconciliation Of Outstanding Share Based Payments [Line Items]
Financial year of grant		2017
Exercise/Loan price per share		$ 1.67
Share price at acceptance date		$ 2.32
Expected share price volatility		51.63%
Expected life after factoring		5 years 7 months 6 days
Dividend yield		0.00%
Risk-free interest rate		2.15%
Series 32
Disclosure Of Reconciliation Of Outstanding Share Based Payments [Line Items]
Financial year of grant			2016
Exercise/Loan price per share			$ 4.22
Share price at acceptance date			$ 3.87
Expected share price volatility			40.38%
Expected life after factoring			5 years 2 months 12 days
Dividend yield			0.00%
Risk-free interest rate			2.22%
Series 33
Disclosure Of Reconciliation Of Outstanding Share Based Payments [Line Items]
Financial year of grant			2016
Exercise/Loan price per share			$ 4.07
Share price at acceptance date			$ 3.19
Expected share price volatility			40.38%
Expected life after factoring			5 years 1 month 6 days
Dividend yield			0.00%
Risk-free interest rate			2.00%
Series 34
Disclosure Of Reconciliation Of Outstanding Share Based Payments [Line Items]
Financial year of grant			2016
Exercise/Loan price per share			$ 2.82
Share price at acceptance date			$ 2.41
Expected share price volatility			53.33%
Expected life after factoring			5 years
Dividend yield			0.00%
Risk-free interest rate			2.13%
Series 34a
Disclosure Of Reconciliation Of Outstanding Share Based Payments [Line Items]
Financial year of grant			2016
Exercise/Loan price per share			$ 2.76
Share price at acceptance date			$ 2.41
Expected share price volatility			53.33%
Expected life after factoring			5 years 1 month 6 days
Dividend yield			0.00%
Risk-free interest rate			2.13%
Series 35
Disclosure Of Reconciliation Of Outstanding Share Based Payments [Line Items]
Financial year of grant			2016
Exercise/Loan price per share			$ 2.22
Share price at acceptance date			$ 1.05
Expected share price volatility			53.33%
Expected life after factoring			3 years
Dividend yield			0.00%
Risk-free interest rate			1.65%

Remuneration of auditors - Summary of Fees were Paid or Payable for Services Provided by the Auditor of the Parent Entity (Details) - USD ($)	12 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2016
Audit and other assurance services
Total auditors' remuneration	$ 807,079	$ 849,627	$ 878,653
Price Water House Coopers \| Australia
Audit and other assurance services
Audit and review of financial reports	620,837	729,598	437,373
Other audit services	92,403	42,306	345,965
Total auditors' remuneration	713,240	771,904	783,338
Network Firms Of Price Water House Coopers \| Australia
Audit and other assurance services
Audit and review of financial reports	93,839	77,723	95,315
Total auditors' remuneration	$ 93,839	$ 77,723	$ 95,315

Losses Per Share - Summary of Loss Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2016
(a) Basic losses per share
Basic - losses per share	$ (0.0758)	$ (0.1925)	$ (0.0113)
Total basic losses per share attributable to the ordinary equity holders of the company	(0.0758)	(0.1925)	(0.0113)
(b) Diluted losses per share
Diluted - losses per share	(0.0758)	(0.1925)	(0.0113)
Total basic losses per share attributable to the ordinary equity holders of the company	$ (0.0758)	$ (0.1925)	$ (0.0113)
(c) Reconciliation of losses used in calculating losses per share
From continuing operations	$ (35,290)	$ (76,815)	$ (4,127)
Used in calculating basic losses per share	(35,290)	(76,815)	(4,127)
Losses attributable to the ordinary equity holders of the company used in calculating diluted losses per share	$ (35,290)	$ (76,815)	$ (4,127)
Weighted average number of ordinary shares used as the denominator in calculating basic losses per share	465,688,997	399,042,172	364,208,554
Weighted average number of ordinary shares and potential ordinary shares used in calculating diluted losses per share	465,688,997	399,042,172	364,208,554

Parent Entity Financial Information - Summary of Parent Entity Financial Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2015
Disclosure Of Parent Entity Financial Information [Line Items]
Current Assets	$ 101,071	$ 63,609
Total Assets	692,443	655,686
Current Liabilities	24,003	36,670
Total Liabilities	146,435	138,920
Equity
Issued Capital	889,481	830,425
Reserves
(Accumulated losses)/retained earnings	(380,192)	(344,902)
Total Equity	546,008	516,766	$ 528,161	$ 467,987
Loss for the period	(35,290)	(76,815)	(4,127)
Total comprehensive loss for the period	(35,869)	(76,468)	$ (5,166)
Parent
Disclosure Of Parent Entity Financial Information [Line Items]
Current Assets	19,499	7,276
Total Assets	676,385	666,357
Current Liabilities	6,086	6,400
Total Liabilities	6,186	6,815
Equity
Issued Capital	889,480	830,424
Reserves
Foreign Currency Translation Reserve	(174,948)	(146,840)
Share Options Reserve	61,320	55,265
(Accumulated losses)/retained earnings	(105,653)	(79,307)
Total Equity	670,199	659,542
Loss for the period	(26,346)	(24,216)
Total comprehensive loss for the period	$ (26,346)	$ (24,216)

Summary of Significant Accounting Policies - Additional Information (Details) € in Millions, $ in Millions					1 Months Ended		12 Months Ended
	Jun. 29, 2018 USD ($)	Mar. 06, 2018 USD ($)	Dec. 14, 2017 USD ($)	Dec. 14, 2017 EUR (€)	Dec. 31, 2017 USD ($)	Dec. 31, 2017 EUR (€)	Jun. 30, 2018 USD ($) Segment	Jun. 30, 2018 AUD ($) Segment	Jun. 30, 2018 EUR (€) Segment	Jun. 30, 2017 USD ($)	Jun. 30, 2016 USD ($)	Jun. 14, 2018	Mar. 22, 2018
Disclosure of summary of significant accounting policies
Number of operating segment \| Segment							1	1	1
Milestone Revenue							$ 13,334,000			$ 500,000	$ 3,500,000
Annual aggregate turnover of eligible companies description							A refundable tax offset is available to eligible companies with an annual aggregate turnover of less than A$20.0 million. Eligible companies can receive a refundable tax offset for a percentage of their research and development spending. For the years ended June 30, 2018 and 2017, the rate of the refundable tax offset is 43.5%.	A refundable tax offset is available to eligible companies with an annual aggregate turnover of less than A$20.0 million. Eligible companies can receive a refundable tax offset for a percentage of their research and development spending. For the years ended June 30, 2018 and 2017, the rate of the refundable tax offset is 43.5%.	A refundable tax offset is available to eligible companies with an annual aggregate turnover of less than A$20.0 million. Eligible companies can receive a refundable tax offset for a percentage of their research and development spending. For the years ended June 30, 2018 and 2017, the rate of the refundable tax offset is 43.5%.
Percentage of research and development to receive a refundable tax offset							43.50%	43.50%	43.50%	43.50%
Income Recognized From Research and Development Tax Incentive program							$ 1,800,000			$ 1,500,000
Trade and other receivables due for settlement term							60 days	60 days	60 days
Borrowings										0
Hercules Capital, Inc. \| Floating Interest Rate
Disclosure of summary of significant accounting policies
Borrowings principal amount		$ 75,000,000
Credit facility, expiration period		4 years
Borrowings, maturity		March 2022					March 2022	March 2022	March 2022
Borrowings, interest rate		9.45%					9.45%					9.95%	9.70%
Hercules Capital, Inc. \| Tranche One \| Floating Interest Rate
Disclosure of summary of significant accounting policies
Borrowings		$ 35,000,000
Hercules Capital, Inc. \| Tranche Two \| Floating Interest Rate
Disclosure of summary of significant accounting policies
Borrowings		$ 40,000,000					$ 40,000,000
NovaQuest Capital Management, L.L.C.
Disclosure of summary of significant accounting policies
Description of repayment of borrowings							If there are no net sales of pediatric aGVHD, the loan is only repayable on maturity in 2026. If in any annual period 25% of net sales of pediatric aGVHD exceed the amount of accrued interest owing and, from 2022, principal and accrued interest owing (“the payment cap”), Mesoblast will pay the payment cap and an additional portion of excess sales which may be used for early prepayment of the loan. If in any annual period 25% of net sales of pediatric aGVHD is less than the payment cap, then the payment is limited to 25% of net sales of pediatric aGVHD. Any unpaid interest will be added to the principal amounts owing and shall accrue further interest. At maturity date, any unpaid loan balances are repaid.	If there are no net sales of pediatric aGVHD, the loan is only repayable on maturity in 2026. If in any annual period 25% of net sales of pediatric aGVHD exceed the amount of accrued interest owing and, from 2022, principal and accrued interest owing (“the payment cap”), Mesoblast will pay the payment cap and an additional portion of excess sales which may be used for early prepayment of the loan. If in any annual period 25% of net sales of pediatric aGVHD is less than the payment cap, then the payment is limited to 25% of net sales of pediatric aGVHD. Any unpaid interest will be added to the principal amounts owing and shall accrue further interest. At maturity date, any unpaid loan balances are repaid.	If there are no net sales of pediatric aGVHD, the loan is only repayable on maturity in 2026. If in any annual period 25% of net sales of pediatric aGVHD exceed the amount of accrued interest owing and, from 2022, principal and accrued interest owing (“the payment cap”), Mesoblast will pay the payment cap and an additional portion of excess sales which may be used for early prepayment of the loan. If in any annual period 25% of net sales of pediatric aGVHD is less than the payment cap, then the payment is limited to 25% of net sales of pediatric aGVHD. Any unpaid interest will be added to the principal amounts owing and shall accrue further interest. At maturity date, any unpaid loan balances are repaid.
NovaQuest Capital Management, L.L.C. \| Fixed interest rate [member]
Disclosure of summary of significant accounting policies
Borrowings principal amount	$ 40,000,000
Borrowings	$ 40,000,000
Borrowings, maturity	July 2026						July 2026	July 2026	July 2026
Borrowings, interest rate	15.00%
Borrowings, interest rate basis	There is a four-year interest only period, until July 2022, with the principal repayable in equal quarterly instalments over the remaining period of the loan. The loan matures in July 2026. Interest on the loan will accrue at a fixed rate of 15% per annum.						There is a four-year interest only period, until July 2022, with the principal repayable in equal quarterly instalments over the remaining period of the loan. The loan matures in July 2026. Interest on the loan will accrue at a fixed rate of 15% per annum.	There is a four-year interest only period, until July 2022, with the principal repayable in equal quarterly instalments over the remaining period of the loan. The loan matures in July 2026. Interest on the loan will accrue at a fixed rate of 15% per annum.	There is a four-year interest only period, until July 2022, with the principal repayable in equal quarterly instalments over the remaining period of the loan. The loan matures in July 2026. Interest on the loan will accrue at a fixed rate of 15% per annum.
NovaQuest Capital Management, L.L.C. \| Tranche One \| Fixed interest rate [member]
Disclosure of summary of significant accounting policies
Borrowings principal amount	$ 30,000,000
Borrowings	$ 30,000,000
TEMCELL
Disclosure of summary of significant accounting policies
Milestone Revenue							$ 1,500,000			500,000
Revenue relating to royalty							$ 3,600,000			1,400,000
Top of Range
Disclosure of summary of significant accounting policies
Amount of annual aggregate turnover								$ 20.0
Trade and other payables maturity period							60 days	60 days	60 days
Bottom of Range
Disclosure of summary of significant accounting policies
Trade and other payables maturity period							30 days	30 days	30 days
Licenses to Patents \| Within 1 year [Member]
Disclosure of summary of significant accounting policies
Amount of non-refundable up-front payment					$ 5,900,000	€ 5.0
TiGenix NV
Disclosure of summary of significant accounting policies
Amount of non-refundable up-front payment			$ 5,900,000	€ 5.0
TiGenix NV \| Licenses to Patents
Disclosure of summary of significant accounting policies
Amount of non-refundable up-front payment					$ 5,900,000	5.0	$ 5,900,000		€ 5.0
Milestone Revenue							$ 11,800,000			$ 0
TiGenix NV \| Licenses to Patents \| Within 1 year [Member]
Disclosure of summary of significant accounting policies
Amount of non-refundable up-front payment \| €						5.0
TiGenix NV \| Licenses to Patents \| Top of Range
Disclosure of summary of significant accounting policies
Amount of non-refundable up-front payment \| €						€ 10.0

Capital Management	12 Months Ended
Capital Management	Jun. 30, 2018
Capital Management [Abstract]
Capital Management	11. Capital management The Group’s objective when managing capital is to safeguard its ability to continue as a going concern, so that it can provide returns for shareholders and benefits for other stakeholders. See Note 5(a) for the cash reserves of the Group as at the end of the financial reporting period.

Financial Assets and Liabilities - Summary of Cash and Cash Equivalents (Parenthetical) (Details) - USD ($) $ in Millions	Jun. 30, 2018	Jun. 30, 2017
Disclosure Of Financial Assets And Liabilities [Abstract]
Interest-bearing deposits at call held as security	$ 0.4	$ 0.5

Equity - Schedule of Share Capital (Parenthetical) (Details)	Jun. 30, 2018 shares
Ordinary Shares
Disclosure Of Classes Of Share Capital [Line Items]
Unpaid shares issued to Kentgrove Capital	2,000,000

Summary of Movements in Ordinary Share Capital (Parenthetical) (Details) $ in Millions	Jul. 10, 2018 USD ($)
Placement Agreement \| Major ordinary share transactions [member]
Disclosure Of Classes Of Share Capital [Line Items]
Placement of shares	$ 10.0

Equity - Additional Information (Details)	Jun. 30, 2018 $ / shares
Ordinary Shares
Disclosure Of Classes Of Share Capital [Line Items]
Par value per share	$ 0

Segment Information - Additional Information (Details)	12 Months Ended
Segment Information - Additional Information (Details)	Jun. 30, 2018 Segment
Disclosure Of Operating Segments [Abstract]
Number of operating segment	1