Document and Entity Information	9 Months Ended
Document and Entity Information	Mar. 31, 2019
Document And Entity Information [Abstract]
Document Type	6-K
Amendment Flag	false
Document Period End Date	Mar. 31, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q3
Trading Symbol	MESO
Entity Registrant Name	MESOBLAST LTD
Entity Central Index Key	0001345099
Current Fiscal Year End Date	--06-30

Consolidated Income Statement (unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2019	Mar. 31, 2018
Income Statement [Abstract]
Revenue	$ 1,249	$ 1,070	$ 14,755	$ 15,641
Research & development	(14,407)	(16,798)	(48,380)	(48,388)
Manufacturing commercialization	(3,193)	(1,709)	(12,910)	(3,387)
Management and administration	(5,256)	(6,033)	(15,998)	(16,688)
Fair value remeasurement of contingent consideration	(2,718)	(822)	(3,352)	7,880
Other operating income and expenses	(82)	152	(1,060)	1,243
Finance costs	(2,768)	(423)	(7,906)	(423)
Loss before income tax	(27,175)	(24,563)	(74,851)	(44,122)
Income tax benefit	2,205	3,426	5,778	29,666
Loss attributable to the owners of Mesoblast Limited	$ (24,970)	$ (21,137)	$ (69,073)	$ (14,456)
Losses per share from continuing operations attributable to the ordinary equity holders of the Group:
Basic - losses per share	$ (0.0500)	$ (0.0447)	$ (0.1402)	$ (0.0312)
Diluted - losses per share	$ (0.0500)	$ (0.0447)	$ (0.1402)	$ (0.0312)

Consolidated Statement of Comprehensive Income (unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2019	Mar. 31, 2018
Statement Of Comprehensive Income [Abstract]
Loss for the period	$ (24,970)	$ (21,137)	$ (69,073)	$ (14,456)
Items that may be reclassified to profit and loss
Changes in the fair value of financial assets	85	74	280	141
Exchange differences on translation of foreign operations	79	(69)	(104)	(569)
Other comprehensive (loss)/income for the period, net of tax	164	5	176	(428)
Total comprehensive losses attributable to the owners of Mesoblast Limited	$ (24,806)	$ (21,132)	$ (68,897)	$ (14,884)

Consolidated Statement of Changes in Equity (unaudited) - USD ($) $ in Thousands	Total	Issued Capital	Share Option Reserve	Investment Revaluation Reserve	Foreign?Currency Translation Reserve	Retained Earnings
Beginning balance at Jun. 30, 2017	$ 516,766	$ 830,425	$ 69,919	$ (303)	$ (38,373)	$ (344,902)
Profit/(loss) for the period	(14,456)					(14,456)
Other comprehensive income/(loss)	(428)			141	(569)
Total comprehensive profit/(loss) for the period	(14,884)			141	(569)	(14,456)
Transactions with owners in their capacity as owners:
Contributions of equity net of transaction costs	49,019	49,019
Transactions with owners in their capacity as owners	49,019	49,019
Transfer of exercised options		38	(38)
Fair value of share-based payments	5,109		5,109
Reclassification of modified options to liability	125		125
Increase (decrease) in equity	5,234	38	5,196
Ending balance at Mar. 31, 2018	556,135	879,482	75,115	(162)	(38,942)	(359,358)
Beginning balance at Dec. 31, 2017	575,605	878,989	73,946	(236)	(38,873)	(338,221)
Profit/(loss) for the period	(21,137)					(21,137)
Other comprehensive income/(loss)	5			74	(69)
Total comprehensive profit/(loss) for the period	(21,132)			74	(69)	(21,137)
Transactions with owners in their capacity as owners:
Contributions of equity net of transaction costs	455	455
Transactions with owners in their capacity as owners	455	455
Transfer of exercised options		38	(38)
Fair value of share-based payments	1,200		1,200
Reclassification of modified options to liability	7		7
Increase (decrease) in equity	1,207	38	1,169
Ending balance at Mar. 31, 2018	556,135	879,482	75,115	(162)	(38,942)	(359,358)
Beginning balance at Jun. 30, 2018	546,008	889,481	75,974	21	(39,276)	(380,192)
Profit/(loss) for the period	(69,073)					(69,073)
Other comprehensive income/(loss)	176			280	(104)
Total comprehensive profit/(loss) for the period	(68,897)			280	(104)	(69,073)
Transactions with owners in their capacity as owners:
Contributions of equity net of transaction costs	19,441	19,441
Transactions with owners in their capacity as owners	19,441	19,441
Transfer of services rendered in shares		1,170	(1,170)
Transfer of exercised options		313	(313)
Fair value of share-based payments	4,386		4,386
Reclassification of modified options to liability	4		4
Increase (decrease) in equity	4,390	1,483	2,907
Ending balance at Mar. 31, 2019	500,942	910,405	78,881	301	(39,380)	(449,265)
Beginning balance at Dec. 31, 2018	524,557	909,235	78,860	216	(39,459)	(424,295)
Profit/(loss) for the period	(24,970)					(24,970)
Other comprehensive income/(loss)	164			85	79
Total comprehensive profit/(loss) for the period	(24,806)			85	79	(24,970)
Transactions with owners in their capacity as owners:
Transfer of services rendered in shares		1,170	(1,170)
Fair value of share-based payments	1,191		1,191
Increase (decrease) in equity	1,191	1,170	21
Ending balance at Mar. 31, 2019	$ 500,942	$ 910,405	$ 78,881	$ 301	$ (39,380)	$ (449,265)

Consolidated Balance Sheet (unaudited) - USD ($) $ in Thousands	Mar. 31, 2019	Jun. 30, 2018
Current Assets
Cash & cash equivalents	$ 70,385	$ 37,763
Trade & other receivables	3,508	50,366
Prepayments	11,634	12,942
Total Current Assets	85,527	101,071
Non-Current Assets
Property, plant and equipment	825	1,084
Financial assets at fair value through other comprehensive income	2,601	2,321
Other non-current assets	3,331	3,361
Intangible assets	583,421	584,606
Total Non-Current Assets	590,178	591,372
Total Assets	675,705	692,443
Current Liabilities
Trade and other payables	18,551	18,921
Provisions	6,592	5,082
Borrowings	9,359
Deferred consideration	10,000
Total Current Liabilities	44,502	24,003
Non-Current Liabilities
Deferred tax liability	14,301	20,079
Provisions	45,742	42,956
Borrowings	70,218	59,397
Total Non-Current Liabilities	130,261	122,432
Total Liabilities	174,763	146,435
Net Assets	500,942	546,008
Equity
Issued Capital	910,405	889,481
Reserves	39,802	36,719
(Accumulated losses)/retained earnings	(449,265)	(380,192)
Total Equity	$ 500,942	$ 546,008

Consolidated Statement of Cash Flows (unaudited) - USD ($) $ in Thousands	9 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Cash flows from operating activities
Commercialization revenue received	$ 3,321	$ 2,529
Milestone payment received	26,409	6,125
Research and development tax incentive received	1,654
Payments to suppliers and employees (inclusive of goods and services tax)	(67,672)	(63,719)
Interest received	493	266
Interest paid	(2,906)
Income taxes (paid)	(3)	(25)
Net cash (outflows) in operating activities	(38,704)	(54,824)
Cash flows from investing activities
Investment in fixed assets	(202)	(174)
Payments for contingent consideration		(543)
Net cash (outflows) in investing activities	(202)	(717)
Cash flows from financing activities
Proceeds from borrowings	43,572	31,704
Payments of transaction costs from borrowings	(1,582)	(40)
Proceeds from issue of shares	30,258	40,566
Payments for share issue costs	(607)	(2,604)
Net cash inflows by financing activities	71,641	69,626
Net increase in cash and cash equivalents	32,735	14,085
Cash and cash equivalents at beginning of period	37,763	45,761
FX (losses) on the translation of foreign bank accounts	(113)	(307)
Cash and cash equivalents at end of period	$ 70,385	$ 59,539

Basis of preparation

9 Months Ended

Mar. 31, 2019

Basis Of Preparation [Abstract]

Basis of Preparation

1. Basis of preparation

Mesoblast Limited is a for-profit entity for the purpose of preparing the financial statements. The condensed financial statements of Mesoblast Limited and its subsidiaries have been prepared in accordance with International Accounting Standard IAS 34 Interim Financial Reporting, as issued by the International Accounting Standards Board (“IASB”), and are unaudited. These interim financial statements do not include all of the notes and disclosures required by International Financial Reporting Standards, as issued by the IASB, for annual consolidated financial statements and should therefore be read in conjunction with our annual report on Form 20-F for the year ended June 30, 2018.

(i) Going concern

For the nine months ended March 31, 2019, and 2018, the Group incurred a total comprehensive loss after income tax of $68.9 million and loss after income tax of $14.9 million, respectively, and had net cash outflows from operations of $38.7 million, and $54.8 million, respectively. As of March 31, 2019, the Group held total cash and cash equivalents of $70.4 million.

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$120.0 million/US$90.0 million over the next 3 months to provide additional funds as required. The Group may also consider equity-based financing and 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 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 standards.

(ii) New and amended standards adopted by the Group

Revenue recognition

The Group adopted IFRS 15 Revenue from Contracts with Customers on July 1, 2018, using the modified retrospective approach. Revenue from contracts with customers is measured and recognized in accordance with the five step model prescribed by the standard.

First, contracts with customers within the scope of IFRS 15 are identified. Distinct promises within the contract are identified as performance obligations. The transaction price of the contract is measured based on the amount of consideration the Group expects to be entitled from the customer in exchange for goods or services. Factors such as requirements around variable consideration, significant financing components, noncash consideration, or amounts payable to customers also determine the transaction price. The transaction is then allocated to separate performance obligations in the contract based on relative standalone selling prices. Revenue is recognized when, or as, performance obligations are satisfied, which is when control of the promised good or service is transferred to the customer. Revenues comprise commercialization and milestone revenue, research and development tax incentives and interest revenue.

There was no cumulative impact of the adoption of IFRS 15 Revenue from Contracts with Customers on July 1, 2018.

Revenues from contracts with customers comprise commercialization and milestone revenue. The Group also has revenue from research and development tax incentives and interest revenue.

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 on 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. Payment is generally due on standard terms of 30 to 60 days.

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

Milestone revenue

The Group applies the five-step method under the standard to measure and recognize milestone revenue.

The receipt of milestone payments is often contingent on meeting certain clinical, regulatory or commercial targets, and is therefore considered variable consideration. The Group estimate the transaction price of the contingent milestone using the most likely amount method. The Group includes in the transaction price some or all of the amount of the contingent milestone only to the extent that it is highly probable that a significant reversal in the amount of cumulative revenue recognized will not occur when the uncertainty associated with the contingent milestone is subsequently resolved. Milestone payments that are not within the control of the Group, such as regulatory approvals, are not considered highly probable of being achieved until those approvals are received. Any changes in the transaction price are allocated to all performance obligations in the contract unless the variable consideration relates only to one or more, but not all, of the performance obligations.

When consideration for milestones is a sale-based or usage-based royalty that arises from licenses of IP (such as cumulative net sales targets), revenue is recognized at the later of when (or as) the subsequent sale or usage occurs, or when the performance obligation to which some or all of the royalty has been allocated has been satisfied (or partially satisfied).

Licenses of intellectual property

When licenses of IP are distinct from other goods or services promised in the contract, the Group recognizes the transaction price allocated to the license as revenue upon transfer of control of the license to the customer. The Group evaluates all other promised goods or services in the license agreement to determine if they are distinct. If they are not distinct, they are combined with other promised goods or services to create a bundle of promised goods or services that is distinct.

The transaction price allocated to the license performance obligation is recognized based on the nature of the license arrangement. The transaction price is recognized over time if the nature of the license is a “right to access” license. This is when the Group undertakes activities that significantly affect the IP to which the customer has rights, the rights granted by the license directly expose the customer to any positive or negative effects of the Group’s activities, and those activities do not result in the transfer of a good or service to the customer as those activities occur. When licenses do not meet the criteria to be a right to access license, the license is a “right to use” license, and the transaction price is recognized at the point in time when the customer obtains control over the license.

Sales-based or usage-based royalties

Licenses of IP can include royalties that are based on the customer’s usage of the IP or sale of products that contain the IP. The Group applies the specific exception to the general requirements of variable consideration and the constraint on variable consideration for sales-based or usage-based royalties promised in a license of IP. The exception requires such revenue to be recognized at the later of when (or as) the subsequent sale or usage occurs and the performance obligation to which some or all of the sales-based or usage-based royalty has been allocated has been satisfied (or partially satisfied).

Tasly arrangement

In July 2018, the Group entered into a strategic alliance with Tasly Pharmaceutical Group (“Tasly”) for the development, manufacture and commercialization in China of the Group’s allogeneic mesenchymal precursor cell (“MPC”) products, MPC-150-IM and MPC-25-IC. Tasly received all exclusive rights for MPC-150-IM and MPC-25-IC in China and Tasly will fund all development, manufacturing and commercialization activities in China.

The Group received a $20.0 million up-front technology access fee from Tasly upon closing of this strategic alliance in October 2018. 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 up to six escalating milestone payments when the product candidates reach certain sales thresholds in China.

Under IFRS 15, upon completion of this strategic alliance on September 14, 2018, the Group recognized $10.0 million in milestone revenue from the $20.0 million up-front technology access fee received from Tasly in October 2018 as this is the portion of revenue that control has been transferred to Tasly. The Group recognized the remaining $10.0 million from the $20.0 million up-front payment as deferred consideration on the consolidated balance sheet. The deferred consideration amount will be recognized in revenue when and if control transfers to Tasly based on the Group’s decision regarding the exercise of the Group’s rights in the terms and conditions of the agreement.

For the comparative period, being the nine months ended March 31, 2018 no milestone revenue was recognized in relation to this strategic alliance with Tasly.

TiGenix arrangement

In December 2017, the Group entered into a patent license agreement with TiGenix NV (“TiGenix”), 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 (“MSC") product, Alofisel® a registered trademark of TiGenix, 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 license agreement, the Group received $5.9 million (€5.0 million) as a non-refundable up-front payment and recognized this amount in revenue in December 2017 upon receipt. In December 2018, the Group received a milestone payment of €5.0 million, the Group recognized revenue of $5.9 million (€5.0 million) pertaining to this milestone in December 2017 as all performance obligations had been satisfied at that time. The Group is entitled to further payments 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®.

milestone revenue was recognized in relation to the patent license agreement with Takeda in the .

In the nine months ended March 31, 2018, we recognized $11.8 million in milestone revenue in relation to our 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 December 2017 in relation to further payments received in December 2018 for product Alofisel®, as all performance obligations had been satisfied at that time. These amounts were recorded in revenue as there were no further performance obligations required in regards to these milestones.

No milestone revenue was recognized in relation to the patent license agreement with Takeda in the . JCR arrangement

In October 2013, the Group acquired all of the culture-expanded, MSC-based assets, from Osiris Therapeutics, Inc. (“Osiris”). These assets included assumption of a collaboration agreement (the “JCR Agreement”) with JCR Pharmaceuticals Co., Ltd. (“JCR”), a pharmaceutical company in Japan. Revenue recognized under this model is limited to the amount of cash received or for which the Group are entitled, as JCR has the right to terminate the agreement at any time.

Under the JCR Agreement, JCR is responsible for all development and manufacturing costs including sales and marketing expenses. Under the JCR Agreement, JCR has the right to develop our 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 are entitled to payments when JCR reaches certain 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 are entitled to a double digit profit share. In October 2018, the Group expanded its partnership with JCR in Japan for wound healing in patients with Epidermolysis Bullosa (“EB”). The Group will receive royalties on TEMCELL® Hs. Inj. (“TEMCELL”), a registered trademark of JCR product sales for EB. The Group applies the sales-based and usage-based royalty exception for licenses of intellectual property and therefore recognizes royalty revenue at the later of when the subsequent sale or usage occurs and the associated performance obligation has been satisfied.

In the nine months ended March 31, 2019, the Group recognized $3.3 million in commercialization revenue relating to royalty income earned on sales of TEMCELL in Japan by our licensee JCR, compared with $2.5 million for the nine months ended March 31, 2018. These amounts were recorded in revenue as there are no further performance obligations required in regards to these items.

In the nine months ended March 31, 2019 and 2018, the Group recognized $1.0 million in milestone revenue upon our licensee, JCR, reaching cumulative net sales milestones for sales of TEMCELL in Japan. These amounts were recorded in revenue as there are no further performance obligations required in regards to these items.

Financial Instruments

The Group adopted IFRS 9 Financial Instruments on July 1, 2018. IFRS 9 introduced revisions in the classification and measurement of financial instruments with a principle-based approach which is driven by cash flow characteristics and business model.

The Group has had following impacts on its financial assets and liabilities from the adoption of the new standard on 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). On transition to IFRS 9, the Group has made an election to record its available-for-sale financial asset measured at FVOCI in an equity instrument at FVOCI. Therefore there has been no impact on the measurement of the available-for-sale financial asset on transition.

•

Accounting for financial liabilities – Under IFRS 9 there is an allowance for managing to make an irrevocable election on initial recognition for financial liabilities that are measured at amortized cost to be measured at FVTPL. The Group has not designated 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, there has been no impact on the transition to IFRS 9 from July 1, 2018.

In the opinion of management, the interim financial data includes all adjustments, consisting only of normal recurring adjustments, necessary to a fair statement of the results for the interim periods. Other than the new and amended standards adopted by the Group above these interim financial statements follow the same accounting policies as compared to the June 30, 2018 consolidated financial statements and related notes as filed with the Australian Securities Exchange and the Securities and Exchange Commission.

(iii) New accounting standards and interpretations not yet adopted by the Group

Certain new accounting standards and interpretations have been published that are not mandatory for the nine months ended March 31, 2019. The Group has not elected to apply any pronouncements before their operative date in the reporting period beginning July 1, 2018.

Initial application of the standards is not expected to affect any of the amounts recognized or disclosures made in the current financial report and management do not consider these new 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 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	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 for annual reporting periods beginning 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

9 Months Ended

Mar. 31, 2019

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 nine months ended March 31, 2019:

•

On July 17, 2018, the Group announced that it had entered into a strategic alliance with Tasly for the development, manufacture and commercialization in China of the Group’s allogeneic MPC products, MPC-150-IM and MPC-25-IC, subject to governmental approvals from the PRC.

•

In September 2018, the Group announced that Tasly had received all necessary approvals for the transaction. On September 14, 2018, the Group recognized revenue of $10.0 million from the $20.0 million up-front payment received in October 2018 as this is the portion of revenue that control has been transferred to Tasly. The Group recognized the remaining $10.0 million from the $20.0 million up-front payment receivable from Tasly as deferred consideration on the consolidated balance sheet. The deferred consideration amount will be recognized in revenue when and if control transfers to Tasly based on the Group’s decision regarding the exercise of the Group’s rights in the terms and conditions of the agreement.

Loss before income tax

9 Months Ended

Mar. 31, 2019

Disclosure Of Loss Before Income Tax [Abstract]

Loss before income tax

3. Loss before income tax

		Three Months Ended March 31,						Nine Months Ended March 31,
(in U.S. dollars, in thousands)	Note	2019			2018			2019			2018
Revenue
Commercialization Revenue			1,042			991			3,264			2,546
Milestone Revenue			—			—			11,000			12,834
Interest Revenue			207			79			491			261
Total Revenue			1,249			1,070			14,755			15,641

Clinical trial and research & development			(9,366	)		(11,068	)		(31,295	)		(30,525	)
Manufacturing production & development			(2,017	)		(1,154	)		(9,656	)		(1,916	)

Employee benefits
Salaries and employee benefits			(5,115	)		(5,023	)		(15,035	)		(14,560	)
Defined contribution superannuation expenses			(80	)		(92	)		(264	)		(284	)
Equity settled share-based payment transactions⁽¹⁾			(1,191	)		(1,260	)		(3,217	)		(5,289	)
Total Employee benefits			(6,386	)		(6,375	)		(18,516	)		(20,133	)

Depreciation and amortization of non-current assets
Plant and equipment depreciation			(135	)		(214	)		(446	)		(718	)
Intellectual property amortization			(395	)		(618	)		(1,183	)		(1,346	)
Total Depreciation and amortization of non-current assets			(530	)		(832	)		(1,629	)		(2,064	)

Other Management & administration expenses
Overheads & administration			(2,318	)		(2,578	)		(8,762	)		(6,405	)
Consultancy			(808	)		(778	)		(2,453	)		(2,494	)
Legal, patent and other professional fees⁽¹⁾			(565	)		(979	)		(2,816	)		(2,362	)
Intellectual property expenses (excluding the amount amortized above)			(866	)		(776	)		(2,161	)		(2,564	)
Total Other Management & administration expenses			(4,557	)		(5,111	)		(16,192	)		(13,825	)

Fair value remeasurement of contingent consideration
Remeasurement of contingent consideration			(2,718	)		(822	)		(3,352	)		7,880
Total Fair value remeasurement of contingent consideration			(2,718	)		(822	)		(3,352	)		7,880

Other operating income and expenses
Remeasurement of borrowing arrangements			—			—			(752	)		—
Research & development tax incentive⁽²⁾			(74	)		513			(74	)		1,423
Foreign exchange gains/(losses)			(8	)		289			(182	)		470
Foreign withholding tax paid			—			(650	)		(52	)		(650	)
Total Other operating income and expenses			(82	)		152			(1,060	)		1,243

Finance (costs)/gains
Remeasurement of borrowing arrangements			376			—			376			—
Interest expense			(3,144	)		(423	)		(8,282	)		(423	)
Total Finance costs			(2,768	)		(423	)		(7,906	)		(423	)

Total loss before income tax			(27,175	)		(24,563	)		(74,851	)		(44,122	)

(1)	Share-based payment transactions

For the three and nine months ended March 31, 2019 and 2018, the share-based payment transactions have been reflected in the Consolidated Income Statement functional expense categories as follows:

	Three Months Ended March 31,				Nine Months Ended March 31,
(in U.S. dollars)	2019		2018		2019		2018
Research and development		639,245		680,343		1,789,049		3,023,049
Manufacturing and commercialization		89,460		96,246		244,698		485,820
Management and administration		462,329		483,588		1,183,225		1,780,502
Equity settled share-based payment transactions		1,191,034		1,260,177		3,216,972		5,289,371
Legal, patent and other professional fees		—		—		620,000		—
Total equity settled share-based payment transactions in the profit and loss		1,191,034		1,260,177		3,836,972		5,289,371

(2)	Research and development tax incentive

The Group’s research and development activities are not eligible from July 1, 2018 to June 30, 2019 for the refundable tax offset, under an Australian Government tax incentive as a result of the Group earning revenues in excess of A$20.0 million for the year ended June 30, 2019. At each period end management estimates the refundable tax offset available to the Group based on available information at the time. The Group engages 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 the nine months ended March 31, 2019, the Group has recognized loss of $0.1 million due to an adjustment of management’s estimate of revenue for the year ended June 30, 2018.

Income tax benefit/(expense)

9 Months Ended

Mar. 31, 2019

Major Components Of Tax Expense Income [Abstract]

Income tax benefit/(expense)

4. Income tax benefit/(expense)

		Three Months Ended March 31,						Nine Months Ended March 31,
	(in U.S. dollars, in thousands)	2019			2018			2019			2018
(a)	Income tax expense
	Current tax
	Current tax		—			—			—			—
	Total current tax expense		—			—			—			—

	Deferred tax
	(Increase)/decrease in deferred tax assets		(2,180	)		(3,262	)		(5,707	)		21,177
	(Decrease)/increase in deferred tax liabilities		(25	)		(164	)		(71	)		(50,843	)
	Total deferred tax (benefit)		(2,205	)		(3,426	)		(5,778	)		(29,666	)
	Income tax (benefit)		(2,205	)		(3,426	)		(5,778	)		(29,666	)

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 Cuts and Jobs Act, which changed many aspects of U.S. corporate income taxation, including a reduction in the corporate income tax rate from 35% to 21%.

		As of		As of
	(in U.S. dollars, in thousands)	March 31, 2019		June 30, 2018
(b)	Deferred tax assets not brought to account
	Unused tax losses
	Potential tax benefit at local tax rates		50,288		41,501
	Other temporary differences
	Potential tax benefit at local tax rates		3,283		3,704
	Other tax credits
	Potential tax benefit at local tax rates		3,220		3,220
			56,791		48,425

As of March 31, 2019 and June 30, 2018, the Group has deferred tax assets not brought to account of $56.8 million and $48.4 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

9 Months Ended

Mar. 31, 2019

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 March 31, 2019
Cash & cash equivalents	5(a)		—		—		70,385		70,385
Trade & other receivables	5(b)		—		—		3,508		3,508
Financial assets at fair value through other comprehensive income	5(e)		2,601		—		—		2,601
Other non-current assets			—		—		3,331		3,331
			2,601		—		77,224		79,825
As of June 30, 2018
Cash & cash equivalents	5(a)		—		—		37,763		37,763
Trade & other receivables	5(b)		—		—		50,366		50,366
Financial assets at fair value through other comprehensive income	5(e)		2,321		—		—		2,321
Other non-current assets			—		—		3,361		3,361
			2,321		—		91,490		93,811

(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 March 31, 2019
Trade and other payables	5(c)		—		—		18,551		18,551
Borrowings	5(d)		—		—		79,577		79,577
Contingent considerations	5(e)(iii)		—		44,898		—		44,898
			—		44,898		98,128		143,026
As of June 30, 2018
Trade and other payables	5(c)		—		—		18,921		18,921
Borrowings	5(d)		—		—		59,397		59,397
Contingent considerations	5(e)(iii)		—		42,070		—		42,070
			—		42,070		78,318		120,388

(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 9.

a.	Cash and cash equivalents

(in U.S. dollars, in thousands)	As of March 31, 2019		As of June 30, 2018
Cash at bank		69,960		37,221
Deposits at call⁽¹⁾		425		542
		70,385		37,763

(1)	As of March 31, 2019 and June 30, 2018, interest-bearing deposits at call include amounts of $0.4 million and $0.4 million, respectively, held as security and 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

(in U.S. dollars, in thousands)	As of March 31, 2019		As of June 30, 2018
Trade debtors		1,038		6,630
Funds receivable from debt financing and unissued capital⁽¹⁾		—		38,950
Income tax and tax incentives recoverable		1,525		3,305
Other receivables		134		615
Foreign withholding tax recoverable		471		471
Security deposit		250		250
Sundry debtors		40		81
Other recoverable taxes (Goods and services tax and value-added tax)		43		53
Interest receivables		7		11
Trade and other receivables		3,508		50,366

(1)

On July 2, 2018, the Group announced that the Group had entered into a financing agreement with NovaQuest Capital Management, L.L.C. (“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

(in U.S. dollars, in thousands)	As of March 31, 2019		As of June 30, 2018
Clinical trial research and development expenditure		8,657		12,042
Prepaid insurance and subscriptions		1,513		141
Other		1,464		759
Prepayments		11,634		12,942

(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 March 31, 2019 and June 30, 2018.

(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.

c.	Trade and other payables

(in U.S. dollars, in thousands)

As of

March 31, 2019

As of

June 30,

2018

Trade payables and other payables

18,551

18,921

Trade and other payables

18,551

18,921

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

d.	Borrowings

(in U.S. dollars, in thousands)	As of March 31, 2019			As of June 30, 2018
Current
Secured liabilities:
Borrowing arrangements		9,359			—
		9,359			—

Non-current
Secured liabilities:
Borrowing arrangements		70,641			65,000
Less: transaction costs		(6,738	)		(6,328	)
Amortization of carrying amount, net of payments made		6,315			725
		70,218			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 Capital, Inc (“Hercules”). An additional tranche of $15.0 million was drawn by the Group on January 14, 2019, which resulted in 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. In the nine months ended March 31, 2019, a $0.4 million gain has been recognized by the Group in the Income Statement as remeasurement of borrowing arrangements within finance costs.

An additional $25.0 million may be drawn by the Group as certain milestones are met. The loan matures in March 2022 with principal repayments commencing in October 2019, as a result we have recognized $9.0 million of the borrowings as a current liability. If certain milestones are met before September 30, 2019 the requirement to commence principal repayments will be deferred, potentially until October 2020. 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, June 14, 2018, September 27, 2018 and December 20, 2018, in line with the increases in the U.S. prime rate, the interest rate on the loan increased to 9.70%, 9.95%, 10.20% and 10.45%, respectively.

The carrying amount of the 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) in “Item 18 Financial Statements” included in our Form 20-F), $0.4 million of interest-bearing deposits at call included in cash and cash equivalents (refer to Note 5(a)) and $0.3 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 loan and security agreement 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. A $0.4 million loan administration fee is payable annually with first payment on June 2019 and is recognized as a current liability. 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. In the nine months ended March 31, 2019, a $0.7 million loss has been recognized by the Group in the Income Statement as remeasurement of borrowing arrangements within other operating income and expenses.

The carrying amount of the loan and security agreement with NovaQuest is subordinated to the Group’s floating rate loan with the senior creditor, Hercules.

(ii) Compliance with loan covenants

The Group has complied with the financial covenants of its borrowing facilities during the nine months ended March 31, 2019 and during the year ended June 30, 2018.

(iii) Net debt reconciliation

(in U.S. dollars, in thousands)	Current borrowings		Non-current borrowings			Total
Cashflows from financing activities - as of June 30, 2018		3,095		28,217			31,312
Changes from financing cash flows
Proceeds from debt		6,264		37,308			43,572
Payment of transaction costs		—		(1,582	)		(1,582	)
Repayment of loans		—		—			—
Movement in short-term borrowings		—		—			—
Total changes in liabilities arising on financing cash flows		6,264		35,726			41,990
Other changes
Accrued transaction costs		—		(39	)		(39	)
Amortization of carrying amount, net of payments made		—		6,314			6,314
Carrying value - as of March 31, 2019		9,359		70,218			79,577

(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.

e.	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 March 31, 2019 and June 30, 2018 on a recurring basis, categorized by level according to the significance of the inputs used in making the measurements:

As of June 30, 2018
(in U.S. dollars, in thousands)	Notes	Level 1		Level 2		Level 3		Total
Financial Assets
Financial assets at fair value through other comprehensive income:
Equity securities - biotech sector			—		—		2,321		2,321
Total Financial Assets			—		—		2,321		2,321

Financial Liabilities
Financial liabilities at fair value through profit or loss:
Contingent consideration	5(e)(iii)		—		—		42,070		42,070
Total Financial Liabilities			—		—		42,070		42,070

As of March 31, 2019
(in U.S. dollars, in thousands)	Notes	Level 1		Level 2		Level 3		Total
Financial Assets
Financial assets at fair value through other comprehensive income:
Equity securities - biotech sector			—		—		2,601		2,601
Total Financial Assets			—		—		2,601		2,601

Financial Liabilities
Financial liabilities at fair value through profit or loss:
Contingent consideration	5(e)(iii)		—		—		44,898		44,898
Total Financial Liabilities			—		—		44,898		44,898

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, trading and financial assets at fair value through other comprehensive income 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 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 nine months ended March 31, 2019 and the year ended June 30, 2018:

(in U.S. dollars, in thousands)	Contingent consideration provision
Opening balance - July 1, 2017		63,595
Amount used during the year		(10,984	)
Charged/(credited) to consolidated income statement:
Remeasurement⁽¹⁾		(10,541	)
Closing balance - June 30, 2018		42,070

Opening balance - July 1, 2018		42,070
Amount used during the period		(524	)
Charged/(credited) to consolidated income statement:
Remeasurement⁽²⁾		3,352
Closing balance - March 31, 2019		44,898

(1)

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.

(2)

In the nine months ended March 31, 2019 a loss of $3.3 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 probability of success, product pricing, development timelines, 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

March 31,

Fair value

as of

June 30,

Valuation

Unobservable

Nine Months

Ended March 31,

Year Ended

June 30,

Relationship of

unobservable inputs to

Description

2019

2018

technique

inputs⁽¹⁾

2019

2018

fair value

Contingent consideration provision

44,898

42,070

Discounted cash flows

Risk adjusted

discount rate

11%-13%

(12.5%)

11%-13%

(12.5%)

Nine months ended

March 31, 2019: A change in the discount rate by 0.5% would increase/decrease the fair value by 1%.

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

Expected unit

revenues

n/a

Nine months ended

March 31, 2019: A 10% increase/decrease in the price assumptions adopted would increase/decrease the fair value by 4%.

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

Expected sales

volumes

n/a

Nine months ended

March 31, 2019: A 10% increase/decrease in sales volume assumptions adopted would increase/decrease the fair value by 4%.

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

(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 nine months ended March 31, 2019 and the year ended June 30, 2018, 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 (in U.S. dollars, in thousands)	As of March 31, 2019		As of June 30, 2018
Fair value of cash or stock payable, dependent on achievement of future late-stage clinical or regulatory targets		24,228		23,674
Fair value of royalty payments from commercialization of the intellectual property acquired		20,670		18,396
		44,898		42,070

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

9 Months Ended

Mar. 31, 2019

Disclosure Of Non Financial Assets And Liabilities [Abstract]

Non-financial Assets and Liabilities

6. Non-financial assets and liabilities

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, 2018
Opening net book amount		134,453		1,898			427,779			22,220			586,350
Exchange differences		—		(3	)		—			—			(3	)
Amortization charge		—		(125	)		—			(1,616	)		(1,741	)
Closing net book amount		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

Nine Months Ended March 31, 2019
Opening net book amount		134,453		1,770			427,779			20,604			584,606
Exchange differences		—		(3	)		—			1			(2	)
Amortization charge		—		(92	)		—			(1,091	)		(1,183	)
Closing net book amount		134,453		1,675			427,779			19,514			583,421

As of March 31, 2019
Cost		134,453		2,727			489,698			23,999			650,877
Accumulated amortization		—		(1,052	)		—			(4,485	)		(5,537	)
Accumulated impairment		—		—			(61,919	)		—			(61,919	)
Net book amount		134,453		1,675			427,779			19,514			583,421

During the nine months ended March 31, 2019, we elected to change the annual impairment testing date from the fourth quarter to the third quarter of each year to align with industry best practice. A full assessment was performed at March 31, 2019 and no impairment of the in-process research and development and goodwill was identified.

c.	Deferred tax balances

(i) Deferred tax balances

(in U.S. dollars, in thousands)	As of March 31, 2019		As of June 30, 2018
Deferred tax assets
The balance comprises temporary differences attributable to:
Tax losses		57,602		55,904
Other temporary differences		4,678		669
Total deferred tax assets		62,280		56,573

Deferred tax liabilities
The balance comprises temporary differences attributable to:
Intangible assets		76,581		76,652
Total deferred tax liabilities		76,581		76,652
Net deferred tax liabilities		14,301		20,079

Deferred tax assets expected to be settled within 12 months		—		—
Deferred tax assets expected to be settled after 12 months		62,280		56,573

Deferred tax liabilities expected to be settled within 12 months		99		147
Deferred tax liabilities expected to be settled after 12 months		76,482		76,505

(ii) Movements

(in U.S. dollars, in thousands)	Tax losses⁽¹⁾ (DTA)			Other temporary differences⁽¹⁾ (DTA)			Intangible assets (DTL)			Total (DTL)
As of July 1, 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
Charged/(credited) to:
- profit or loss		(1,698	)		(4,009	)		(71	)		(5,778	)
As of March 31, 2019		(57,602	)		(4,678	)		76,581			14,301

(1)

Deferred tax assets are netted against deferred tax liabilities

a.	Deferred consideration

(in U.S. dollars, in thousands)	As of March 31, 2019			As of June 30, 2018
Opening balance		—			—
Up-front milestone receivable recognized during the period		20,000			—
Amount recognized as revenue in the period		(10,000	)		—
Balance as of the end of the period		10,000			—

Deferred consideration represents the portion of the up-front technology access fee receivable from Tasly that has not been recognized as revenue. In accordance with the Group’s accounting policy, revenue related to the licensing of intellectual property is only recognized to the extent that control has been transferred to the customer. The deferred consideration amount will be recognized in revenue when and if control transfers to Tasly based on the Group’s decision regarding the exercise of the Group’s rights in the terms and conditions of the agreement.

Cash flow information

9 Months Ended

Mar. 31, 2019

Statement Of Cash Flows [Abstract]

Cash flow information

7. Cash flow information

(in U.S. dollars, in thousands)
(a) Reconciliation of cash and cash equivalents	As of March 31, 2019		As of March 31, 2018
Cash at bank		69,960		58,980
Deposits at call		425		559
		70,385		59,539

(in U.S. dollars, in thousands)
(b) Reconciliation of net cash flows used in operations with loss after income tax	Nine months ended March 31, 2019			Nine months ended March 31, 2018
Loss for the period		(69,073	)		(14,456	)
Add/(deduct) net loss for non-cash items as follows:
Depreciation and amortization		1,629			2,064
Foreign exchange gains		(175	)		(497	)
Finance costs		5,214			181
Remeasurement of borrowing arrangements		376			—
Remeasurement of contingent consideration		3,352			(7,880	)
Payment for services rendered in shares		620			—
Equity settled share-based payment		3,217			5,289
Deferred tax benefit		(5,778	)		(29,641	)
Change in operating assets and liabilities:
(Increase)/decrease in trade and other receivables		5,543			(6,690	)
(Increase)/decrease in prepayments		1,682			84
Decrease/(increase) in tax assets		1,728			(1,423	)
Increase/(decrease) in trade creditors and accruals		1,130			(1,547	)
Increase/(decrease) in provisions		1,831			(308	)
Increase/(decrease) in deferred consideration		10,000			—
Net cash outflows used in operations		(38,704	)		(54,824	)

Issued capital

9 Months Ended

Mar. 31, 2019

Disclosure Of Classes Of Share Capital [Abstract]

Issued capital

8. Issued capital

	As of March 31,				As of March 31,
	2019		2018		2019			2018
	Shares No.				(U.S. dollars, in thousands)
Opening balance		482,639,654		428,221,398		889,481			830,425
Issues of ordinary shares during the period
Exercise of share options⁽¹⁾		313,108		289,245		258			116
Share based compensation for services rendered		1,209,187		540,051		1,170			662
Payment for contingent consideration		—		6,029,545		—			10,000
Entitlement offer to existing eligible shareholders		—		36,191,982		—			40,449
Placement of shares under a share placement agreement⁽²⁾		14,464,259		2,000,000		20,000			—
Transaction costs arising on share issue				—		(817	)		(2,208	)
		15,986,554		45,050,823		20,611			49,019
Share options reserve transferred to equity on exercise of options		—		—		313			38
Ending balance		498,626,208		473,272,221		910,405			879,482

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

(2)	During the nine months ended March 31, 2019, a $20.0 million equity purchase of 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.

Financial Risk Management

9 Months Ended

Mar. 31, 2019

Disclosure Of Financial Risk Management [Abstract]

Financial Risk Management

9. 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, utilize interest bearing accounts and periodically review interest rates available to ensure we earn interest at market rates.

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 the Group’s Australian based entity, whose functional currency is the A$ relating to clinical, regulatory and overhead activities. The Group also has foreign currency amounts in the Group’s Swiss and Singapore based entities, whose functional currencies are the US$. The Group also has foreign currency amounts owing in various other non-US$ currencies in A$ and US$ 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.

(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, 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 is 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 nine months ended March 31, 2019.

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

	As of					As of
	March 31, 2019					June 30, 2018
(in U.S. dollars, in thousands, except percent data)	Total		% of total loans			Total		% of total loans
Financial liabilities
Current borrowings
Variable rate borrowings - Hercules		8,959		11	%		—		0	%
Non-current borrowings
Variable rate borrowings - Hercules		38,581		48	%		31,966		54	%
		47,540		59	%		31,966		54	%

An analysis by maturities is provided in Note 9(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 March 31, 2019 and June 30, 2018. The effect on profit is shown if interest rates change by 5%, in either direction, is as follows:

	As of									As of
	March 31, 2019									June 30, 2018
(in U.S. dollars, in thousands, except percent data)	Low			High						Low			High
Borrowings - USD		10.45	%		10.45	%	USD 47,540⁽¹⁾				9.95	%		9.95	%	USD 31,966⁽¹⁾
Rate increase by 5%		10.97	%		10.97	%		USD 261			10.45	%		10.45	%		USD 159
Rate decrease by 5%		9.93	%		9.93	%		(USD 261	)		9.45	%		9.45	%		(USD 159	)

(1)	Effect on profit/loss of interest rate changes is based on the loan principal amount of $50.0 million as of March 31, 2019, and loan principal amount of $35.0 million as of June 30, 2018, with principal payments commencing in October 2019.

The Group is also exposed to interest rate movements which impacts interest income earned on its deposits and at call accounts. The interest income derived from these balances can fluctuate due to interest rate changes. This interest rate risk is managed by periodically reviewing interest rates available for suitable interest bearing accounts to ensure we earn interest at market rates. 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 March 31, 2019 and June 30, 2018. The effect on profit is shown if interest rates change by 10%, in either direction, is as follows:

	As of								As of
	March 31, 2019								June 30, 2018
(in U.S. dollars, in thousands, except percent data)	Low			High					Low			High
Funds invested - USD		1.29	%		1.29	%	USD 60,984			0.80	%		0.80	%	USD 99
Rate increase by 10%		1.42	%		1.42	%	USD 79			0.88	%		0.88	%	USD 0
Rate decrease by 10%		1.16	%		1.16	%	(USD 79	)		0.72	%		0.72	%	USD 0


AUD	Low			High					Low			High
Funds invested - AUD		2.75	%		2.75	%	AUD 600			2.72	%		2.72	%	AUD 600
Rate increase by 10%		3.03	%		3.03	%	AUD 2			2.99	%		2.99	%	AUD 2
Rate decrease by 10%		2.48	%		2.48	%	(AUD 2	)		2.45	%		2.45	%	(AUD 2	)

(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 the financial liability. The adjustment is recognized in the Income Statement as remeasurement of borrowing arrangements within other operating income and expenses 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
	March 31, 2019					June 30, 2018
(in U.S. dollars, in thousands, except percent data)	Total		% of total loans			Total		% of total loans
Financial liabilities
Current borrowings
Borrowings - NovaQuest		400		1	%		—		0	%
Non-current borrowings
Borrowings - NovaQuest		31,637		40	%		27,431		46	%
		32,037		41	%		27,431		46	%

As at March 31, 2019, 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 $3.3 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 $1.5 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 maximum exposure to credit risk at the end of the reporting period is the carrying amount of each class of financial assets as mentioned in Note 5.

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 and borrowings, held by the Group as of March 31, 2019 and June 30, 2018 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.

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⁾

(14,477

)

(28,615

)

(60,787

)

(38,853

)

(142,732

)

(79,577

)

(14,477

)

(28,615

)

(60,787

)

(38,853

)

(142,732

)

(79,577

)

(1)	Contractual cash flows include payments of principal, interest and other charges. Interest is calculated based on debt held at March 31, 2019 without taking into 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.

(Losses)/earnings per share

9 Months Ended

Mar. 31, 2019

Earnings Per Share [Abstract]

(Losses)/earnings per share

10. (Losses)/earnings per share

	Three Months Ended						Nine Months Ended
	March 31, 2019 Cents			March 31, 2018 Cents			March 31, 2019 Cents			March 31, 2018 Cents
(Losses) per share
(in cents)
(a) Basic (losses) per share
From continuing operations attributable to the ordinary equity holders of the company		(5.00	)		(4.47	)		(14.02	)		(3.12	)
Total basic (losses) per share attributable to the ordinary equity holders of the company		(5.00	)		(4.47	)		(14.02	)		(3.12	)

(b) Diluted (losses) per share
From continuing operations attributable to the ordinary equity holders of the company		(5.00	)		(4.47	)		(14.02	)		(3.12	)
Total basic (losses) per share attributable to the ordinary equity holders of the company		(5.00	)		(4.47	)		(14.02	)		(3.12	)

(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		(24,970	)		(21,137	)		(69,073	)		(14,456	)

Diluted (losses) per share
(Losses) from continuing operations attributable to the ordinary equity holders of the company:
Used in calculating basic (losses) per share		(24,970	)		(21,137	)		(69,073	)		(14,456	)
(Losses) attributable to the ordinary equity holders of the company used in calculating diluted losses per share		(24,970	)		(21,137	)		(69,073	)		(14,456	)


	Three Months Ended						Nine Months Ended
	March 31, 2019 (in shares)			March 31, 2018 (in shares)			March 31, 2019 (in shares)			March 31, 2018 (in shares)
Weighted average number of ordinary shares used as the denominator in calculating basic losses per share		499,141,882			473,313,024			492,782,636			462,800,544
Weighted average number of ordinary shares and potential ordinary shares used in calculating diluted losses per share		499,141,882			473,313,024			492,782,636			462,800,544

Options granted to employees and shares that may be paid as contingent consideration are considered to be potential ordinary shares. These have been excluded from the basic loss per share calculation in the three and nine months ended March 31, 2019 and 2018.

Events occurring after the reporting period

9 Months Ended

Mar. 31, 2019

Disclosure Of Nonadjusting Events After Reporting Period [Abstract]

Events occurring after the reporting period

11. Events occurring after the reporting period

There were no other events that have occurred after March 31, 2019 and prior to the signing of this financial report that would likely have a material impact on the financial results presented.

Segment information

9 Months Ended

Mar. 31, 2019

Disclosure Of Operating Segments [Abstract]

Segment information

12. 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.

Basis of preparation (Policies)

9 Months Ended

Mar. 31, 2019

Basis Of Preparation [Abstract]

Basis of Preparation

1. Basis of preparation

(i) Going concern

(ii) New and amended standards adopted by the Group

Revenue recognition

There was no cumulative impact of the adoption of IFRS 15 Revenue from Contracts with Customers on July 1, 2018.

Revenues from contracts with customers comprise commercialization and milestone revenue. The Group also has revenue from research and development tax incentives and interest revenue.

Commercialization and milestone revenue

Milestone revenue

The Group applies the five-step method under the standard to measure and recognize milestone revenue.

Licenses of intellectual property

Sales-based or usage-based royalties

Tasly arrangement

For the comparative period, being the nine months ended March 31, 2018 no milestone revenue was recognized in relation to this strategic alliance with Tasly.

TiGenix arrangement

milestone revenue was recognized in relation to the patent license agreement with Takeda in the .

No milestone revenue was recognized in relation to the patent license agreement with Takeda in the . JCR arrangement

Financial Instruments

The Group has had following impacts on its financial assets and liabilities from the adoption of the new standard on July 1, 2018:

•

(iii) New accounting standards and interpretations not yet adopted by the Group

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


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	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 for annual reporting periods beginning on or after January 1, 2019. The Group does not intend to adopt IFRS 16 before its mandatory date.

Loss Before Income Tax (Tables)

9 Months Ended

Mar. 31, 2019

Disclosure Of Loss Before Income Tax [Abstract]

Summary of Loss Before Income Tax

		Three Months Ended March 31,						Nine Months Ended March 31,
(in U.S. dollars, in thousands)	Note	2019			2018			2019			2018
Revenue
Commercialization Revenue			1,042			991			3,264			2,546
Milestone Revenue			—			—			11,000			12,834
Interest Revenue			207			79			491			261
Total Revenue			1,249			1,070			14,755			15,641

Clinical trial and research & development			(9,366	)		(11,068	)		(31,295	)		(30,525	)
Manufacturing production & development			(2,017	)		(1,154	)		(9,656	)		(1,916	)

Employee benefits
Salaries and employee benefits			(5,115	)		(5,023	)		(15,035	)		(14,560	)
Defined contribution superannuation expenses			(80	)		(92	)		(264	)		(284	)
Equity settled share-based payment transactions⁽¹⁾			(1,191	)		(1,260	)		(3,217	)		(5,289	)
Total Employee benefits			(6,386	)		(6,375	)		(18,516	)		(20,133	)

Depreciation and amortization of non-current assets
Plant and equipment depreciation			(135	)		(214	)		(446	)		(718	)
Intellectual property amortization			(395	)		(618	)		(1,183	)		(1,346	)
Total Depreciation and amortization of non-current assets			(530	)		(832	)		(1,629	)		(2,064	)

Other Management & administration expenses
Overheads & administration			(2,318	)		(2,578	)		(8,762	)		(6,405	)
Consultancy			(808	)		(778	)		(2,453	)		(2,494	)
Legal, patent and other professional fees⁽¹⁾			(565	)		(979	)		(2,816	)		(2,362	)
Intellectual property expenses (excluding the amount amortized above)			(866	)		(776	)		(2,161	)		(2,564	)
Total Other Management & administration expenses			(4,557	)		(5,111	)		(16,192	)		(13,825	)

Fair value remeasurement of contingent consideration
Remeasurement of contingent consideration			(2,718	)		(822	)		(3,352	)		7,880
Total Fair value remeasurement of contingent consideration			(2,718	)		(822	)		(3,352	)		7,880

Other operating income and expenses
Remeasurement of borrowing arrangements			—			—			(752	)		—
Research & development tax incentive⁽²⁾			(74	)		513			(74	)		1,423
Foreign exchange gains/(losses)			(8	)		289			(182	)		470
Foreign withholding tax paid			—			(650	)		(52	)		(650	)
Total Other operating income and expenses			(82	)		152			(1,060	)		1,243

Finance (costs)/gains
Remeasurement of borrowing arrangements			376			—			376			—
Interest expense			(3,144	)		(423	)		(8,282	)		(423	)
Total Finance costs			(2,768	)		(423	)		(7,906	)		(423	)

Total loss before income tax			(27,175	)		(24,563	)		(74,851	)		(44,122	)

(1)	Share-based payment transactions

For the three and nine months ended March 31, 2019 and 2018, the share-based payment transactions have been reflected in the Consolidated Income Statement functional expense categories as follows:

	Three Months Ended March 31,				Nine Months Ended March 31,
(in U.S. dollars)	2019		2018		2019		2018
Research and development		639,245		680,343		1,789,049		3,023,049
Manufacturing and commercialization		89,460		96,246		244,698		485,820
Management and administration		462,329		483,588		1,183,225		1,780,502
Equity settled share-based payment transactions		1,191,034		1,260,177		3,216,972		5,289,371
Legal, patent and other professional fees		—		—		620,000		—
Total equity settled share-based payment transactions in the profit and loss		1,191,034		1,260,177		3,836,972		5,289,371

(2)	Research and development tax incentive

Income Tax Benefit/(Expense) (Tables)

9 Months Ended

Mar. 31, 2019

Major Components Of Tax Expense Income [Abstract]

Summary of Income tax benefit/(expense)

		Three Months Ended March 31,						Nine Months Ended March 31,
	(in U.S. dollars, in thousands)	2019			2018			2019			2018
(a)	Income tax expense
	Current tax
	Current tax		—			—			—			—
	Total current tax expense		—			—			—			—

	Deferred tax
	(Increase)/decrease in deferred tax assets		(2,180	)		(3,262	)		(5,707	)		21,177
	(Decrease)/increase in deferred tax liabilities		(25	)		(164	)		(71	)		(50,843	)
	Total deferred tax (benefit)		(2,205	)		(3,426	)		(5,778	)		(29,666	)
	Income tax (benefit)		(2,205	)		(3,426	)		(5,778	)		(29,666	)

Summary of Deferred Tax Assets Not Brought to Account

		As of		As of
	(in U.S. dollars, in thousands)	March 31, 2019		June 30, 2018
(b)	Deferred tax assets not brought to account
	Unused tax losses
	Potential tax benefit at local tax rates		50,288		41,501
	Other temporary differences
	Potential tax benefit at local tax rates		3,283		3,704
	Other tax credits
	Potential tax benefit at local tax rates		3,220		3,220
			56,791		48,425

Financial assets and liabilities (Tables)

9 Months Ended

Mar. 31, 2019

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 March 31, 2019
Cash & cash equivalents	5(a)		—		—		70,385		70,385
Trade & other receivables	5(b)		—		—		3,508		3,508
Financial assets at fair value through other comprehensive income	5(e)		2,601		—		—		2,601
Other non-current assets			—		—		3,331		3,331
			2,601		—		77,224		79,825
As of June 30, 2018
Cash & cash equivalents	5(a)		—		—		37,763		37,763
Trade & other receivables	5(b)		—		—		50,366		50,366
Financial assets at fair value through other comprehensive income	5(e)		2,321		—		—		2,321
Other non-current assets			—		—		3,361		3,361
			2,321		—		91,490		93,811

(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 March 31, 2019
Trade and other payables	5(c)		—		—		18,551		18,551
Borrowings	5(d)		—		—		79,577		79,577
Contingent considerations	5(e)(iii)		—		44,898		—		44,898
			—		44,898		98,128		143,026
As of June 30, 2018
Trade and other payables	5(c)		—		—		18,921		18,921
Borrowings	5(d)		—		—		59,397		59,397
Contingent considerations	5(e)(iii)		—		42,070		—		42,070
			—		42,070		78,318		120,388

(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

(in U.S. dollars, in thousands)	As of March 31, 2019		As of June 30, 2018
Cash at bank		69,960		37,221
Deposits at call⁽¹⁾		425		542
		70,385		37,763

(1)	As of March 31, 2019 and June 30, 2018, interest-bearing deposits at call include amounts of $0.4 million and $0.4 million, respectively, held as security and restricted for use.

Summary of Trade and Other Receivables and Prepayments

b.	Trade and other receivables and prepayments

(i) Trade receivables

(in U.S. dollars, in thousands)	As of March 31, 2019		As of June 30, 2018
Trade debtors		1,038		6,630
Funds receivable from debt financing and unissued capital⁽¹⁾		—		38,950
Income tax and tax incentives recoverable		1,525		3,305
Other receivables		134		615
Foreign withholding tax recoverable		471		471
Security deposit		250		250
Sundry debtors		40		81
Other recoverable taxes (Goods and services tax and value-added tax)		43		53
Interest receivables		7		11
Trade and other receivables		3,508		50,366

(1)

(ii) Prepayments

(in U.S. dollars, in thousands)	As of March 31, 2019		As of June 30, 2018
Clinical trial research and development expenditure		8,657		12,042
Prepaid insurance and subscriptions		1,513		141
Other		1,464		759
Prepayments		11,634		12,942

Summary of Trade and Other Payables

c.	Trade and other payables

(in U.S. dollars, in thousands)

As of

March 31, 2019

As of

June 30,

2018

Trade payables and other payables

18,551

18,921

Trade and other payables

18,551

18,921

Summary of Borrowings

d.	Borrowings

(in U.S. dollars, in thousands)	As of March 31, 2019			As of June 30, 2018
Current
Secured liabilities:
Borrowing arrangements		9,359			—
		9,359			—

Non-current
Secured liabilities:
Borrowing arrangements		70,641			65,000
Less: transaction costs		(6,738	)		(6,328	)
Amortization of carrying amount, net of payments made		6,315			725
		70,218			59,397

Summary of Net Debt Reconciliation

(iii) Net debt reconciliation

(in U.S. dollars, in thousands)	Current borrowings		Non-current borrowings			Total
Cashflows from financing activities - as of June 30, 2018		3,095		28,217			31,312
Changes from financing cash flows
Proceeds from debt		6,264		37,308			43,572
Payment of transaction costs		—		(1,582	)		(1,582	)
Repayment of loans		—		—			—
Movement in short-term borrowings		—		—			—
Total changes in liabilities arising on financing cash flows		6,264		35,726			41,990
Other changes
Accrued transaction costs		—		(39	)		(39	)
Amortization of carrying amount, net of payments made		—		6,314			6,314
Carrying value - as of March 31, 2019		9,359		70,218			79,577

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

As of June 30, 2018
(in U.S. dollars, in thousands)	Notes	Level 1		Level 2		Level 3		Total
Financial Assets
Financial assets at fair value through other comprehensive income:
Equity securities - biotech sector			—		—		2,321		2,321
Total Financial Assets			—		—		2,321		2,321

Financial Liabilities
Financial liabilities at fair value through profit or loss:
Contingent consideration	5(e)(iii)		—		—		42,070		42,070
Total Financial Liabilities			—		—		42,070		42,070

As of March 31, 2019
(in U.S. dollars, in thousands)	Notes	Level 1		Level 2		Level 3		Total
Financial Assets
Financial assets at fair value through other comprehensive income:
Equity securities - biotech sector			—		—		2,601		2,601
Total Financial Assets			—		—		2,601		2,601

Financial Liabilities
Financial liabilities at fair value through profit or loss:
Contingent consideration	5(e)(iii)		—		—		44,898		44,898
Total Financial Liabilities			—		—		44,898		44,898

Summary of Changes in Fair Value of Level 3 Instruments

The following table presents the changes in level 3 instruments for the nine months ended March 31, 2019 and the year ended June 30, 2018:

(in U.S. dollars, in thousands)	Contingent consideration provision
Opening balance - July 1, 2017		63,595
Amount used during the year		(10,984	)
Charged/(credited) to consolidated income statement:
Remeasurement⁽¹⁾		(10,541	)
Closing balance - June 30, 2018		42,070

Opening balance - July 1, 2018		42,070
Amount used during the period		(524	)
Charged/(credited) to consolidated income statement:
Remeasurement⁽²⁾		3,352
Closing balance - March 31, 2019		44,898

(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

March 31,

Fair value

as of

June 30,

Valuation

Unobservable

Nine Months

Ended March 31,

Year Ended

June 30,

Relationship of

unobservable inputs to

Description

2019

2018

technique

inputs⁽¹⁾

2019

2018

fair value

Contingent consideration provision

44,898

42,070

Discounted cash flows

Risk adjusted

discount rate

11%-13%

(12.5%)

11%-13%

(12.5%)

Nine months ended

March 31, 2019: A change in the discount rate by 0.5% would increase/decrease the fair value by 1%.

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

Expected unit

revenues

n/a

Nine months ended

March 31, 2019: A 10% increase/decrease in the price assumptions adopted would increase/decrease the fair value by 4%.

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

Expected sales

volumes

n/a

Nine months ended

March 31, 2019: A 10% increase/decrease in sales volume assumptions adopted would increase/decrease the fair value by 4%.

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

(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 (in U.S. dollars, in thousands)	As of March 31, 2019		As of June 30, 2018
Fair value of cash or stock payable, dependent on achievement of future late-stage clinical or regulatory targets		24,228		23,674
Fair value of royalty payments from commercialization of the intellectual property acquired		20,670		18,396
		44,898		42,070

Non-financial Assets and Liabilities (Tables)

9 Months Ended

Mar. 31, 2019

Disclosure Of Non Financial Assets And Liabilities [Abstract]

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, 2018
Opening net book amount		134,453		1,898			427,779			22,220			586,350
Exchange differences		—		(3	)		—			—			(3	)
Amortization charge		—		(125	)		—			(1,616	)		(1,741	)
Closing net book amount		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

Nine Months Ended March 31, 2019
Opening net book amount		134,453		1,770			427,779			20,604			584,606
Exchange differences		—		(3	)		—			1			(2	)
Amortization charge		—		(92	)		—			(1,091	)		(1,183	)
Closing net book amount		134,453		1,675			427,779			19,514			583,421

As of March 31, 2019
Cost		134,453		2,727			489,698			23,999			650,877
Accumulated amortization		—		(1,052	)		—			(4,485	)		(5,537	)
Accumulated impairment		—		—			(61,919	)		—			(61,919	)
Net book amount		134,453		1,675			427,779			19,514			583,421

Summary of Deferred Tax Balances

(i) Deferred tax balances

(in U.S. dollars, in thousands)	As of March 31, 2019		As of June 30, 2018
Deferred tax assets
The balance comprises temporary differences attributable to:
Tax losses		57,602		55,904
Other temporary differences		4,678		669
Total deferred tax assets		62,280		56,573

Deferred tax liabilities
The balance comprises temporary differences attributable to:
Intangible assets		76,581		76,652
Total deferred tax liabilities		76,581		76,652
Net deferred tax liabilities		14,301		20,079

Deferred tax assets expected to be settled within 12 months		—		—
Deferred tax assets expected to be settled after 12 months		62,280		56,573

Deferred tax liabilities expected to be settled within 12 months		99		147
Deferred tax liabilities expected to be settled after 12 months		76,482		76,505

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 July 1, 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
Charged/(credited) to:
- profit or loss		(1,698	)		(4,009	)		(71	)		(5,778	)
As of March 31, 2019		(57,602	)		(4,678	)		76,581			14,301

(1)

Deferred tax assets are netted against deferred tax liabilities

Schedule of Deferred Consideration

(in U.S. dollars, in thousands)	As of March 31, 2019			As of June 30, 2018
Opening balance		—			—
Up-front milestone receivable recognized during the period		20,000			—
Amount recognized as revenue in the period		(10,000	)		—
Balance as of the end of the period		10,000			—

Cash flow information (Tables)

9 Months Ended

Mar. 31, 2019

Statement Of Cash Flows [Abstract]

Summary of Cash Flow Information

(in U.S. dollars, in thousands)
(a) Reconciliation of cash and cash equivalents	As of March 31, 2019		As of March 31, 2018
Cash at bank		69,960		58,980
Deposits at call		425		559
		70,385		59,539

(in U.S. dollars, in thousands)
(b) Reconciliation of net cash flows used in operations with loss after income tax	Nine months ended March 31, 2019			Nine months ended March 31, 2018
Loss for the period		(69,073	)		(14,456	)
Add/(deduct) net loss for non-cash items as follows:
Depreciation and amortization		1,629			2,064
Foreign exchange gains		(175	)		(497	)
Finance costs		5,214			181
Remeasurement of borrowing arrangements		376			—
Remeasurement of contingent consideration		3,352			(7,880	)
Payment for services rendered in shares		620			—
Equity settled share-based payment		3,217			5,289
Deferred tax benefit		(5,778	)		(29,641	)
Change in operating assets and liabilities:
(Increase)/decrease in trade and other receivables		5,543			(6,690	)
(Increase)/decrease in prepayments		1,682			84
Decrease/(increase) in tax assets		1,728			(1,423	)
Increase/(decrease) in trade creditors and accruals		1,130			(1,547	)
Increase/(decrease) in provisions		1,831			(308	)
Increase/(decrease) in deferred consideration		10,000			—
Net cash outflows used in operations		(38,704	)		(54,824	)

Issued capital (Tables)

9 Months Ended

Mar. 31, 2019

Disclosure Of Classes Of Share Capital [Abstract]

Summary of Movements in Ordinary Share Capital

	As of March 31,				As of March 31,
	2019		2018		2019			2018
	Shares No.				(U.S. dollars, in thousands)
Opening balance		482,639,654		428,221,398		889,481			830,425
Issues of ordinary shares during the period
Exercise of share options⁽¹⁾		313,108		289,245		258			116
Share based compensation for services rendered		1,209,187		540,051		1,170			662
Payment for contingent consideration		—		6,029,545		—			10,000
Entitlement offer to existing eligible shareholders		—		36,191,982		—			40,449
Placement of shares under a share placement agreement⁽²⁾		14,464,259		2,000,000		20,000			—
Transaction costs arising on share issue				—		(817	)		(2,208	)
		15,986,554		45,050,823		20,611			49,019
Share options reserve transferred to equity on exercise of options		—		—		313			38
Ending balance		498,626,208		473,272,221		910,405			879,482

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

(2)	During the nine months ended March 31, 2019, a $20.0 million equity purchase of 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.

Financial Risk Management (Tables)

9 Months Ended

Mar. 31, 2019

Disclosure Of Financial Risk Management [Abstract]

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
	March 31, 2019					June 30, 2018
(in U.S. dollars, in thousands, except percent data)	Total		% of total loans			Total		% of total loans
Financial liabilities
Current borrowings
Variable rate borrowings - Hercules		8,959		11	%		—		0	%
Non-current borrowings
Variable rate borrowings - Hercules		38,581		48	%		31,966		54	%
		47,540		59	%		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
	March 31, 2019									June 30, 2018
(in U.S. dollars, in thousands, except percent data)	Low			High						Low			High
Borrowings - USD		10.45	%		10.45	%	USD 47,540⁽¹⁾				9.95	%		9.95	%	USD 31,966⁽¹⁾
Rate increase by 5%		10.97	%		10.97	%		USD 261			10.45	%		10.45	%		USD 159
Rate decrease by 5%		9.93	%		9.93	%		(USD 261	)		9.45	%		9.45	%		(USD 159	)

(1)	Effect on profit/loss of interest rate changes is based on the loan principal amount of $50.0 million as of March 31, 2019, and loan principal amount of $35.0 million as of June 30, 2018, 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
	March 31, 2019								June 30, 2018
(in U.S. dollars, in thousands, except percent data)	Low			High					Low			High
Funds invested - USD		1.29	%		1.29	%	USD 60,984			0.80	%		0.80	%	USD 99
Rate increase by 10%		1.42	%		1.42	%	USD 79			0.88	%		0.88	%	USD 0
Rate decrease by 10%		1.16	%		1.16	%	(USD 79	)		0.72	%		0.72	%	USD 0


AUD	Low			High					Low			High
Funds invested - AUD		2.75	%		2.75	%	AUD 600			2.72	%		2.72	%	AUD 600
Rate increase by 10%		3.03	%		3.03	%	AUD 2			2.99	%		2.99	%	AUD 2
Rate decrease by 10%		2.48	%		2.48	%	(AUD 2	)		2.45	%		2.45	%	(AUD 2	)

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
	March 31, 2019					June 30, 2018
(in U.S. dollars, in thousands, except percent data)	Total		% of total loans			Total		% of total loans
Financial liabilities
Current borrowings
Borrowings - NovaQuest		400		1	%		—		0	%
Non-current borrowings
Borrowings - NovaQuest		31,637		40	%		27,431		46	%
		32,037		41	%		27,431		46	%

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⁾

(14,477

)

(28,615

)

(60,787

)

(38,853

)

(142,732

)

(79,577

)

(14,477

)

(28,615

)

(60,787

)

(38,853

)

(142,732

)

(79,577

)

(1)	Contractual cash flows include payments of principal, interest and other charges. Interest is calculated based on debt held at March 31, 2019 without taking into 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.

(Losses)/earnings per share (Tables)

9 Months Ended

Mar. 31, 2019

Earnings Per Share [Abstract]

Summary of (Loss) Earnings Per Share

	Three Months Ended						Nine Months Ended
	March 31, 2019 Cents			March 31, 2018 Cents			March 31, 2019 Cents			March 31, 2018 Cents
(Losses) per share
(in cents)
(a) Basic (losses) per share
From continuing operations attributable to the ordinary equity holders of the company		(5.00	)		(4.47	)		(14.02	)		(3.12	)
Total basic (losses) per share attributable to the ordinary equity holders of the company		(5.00	)		(4.47	)		(14.02	)		(3.12	)

(b) Diluted (losses) per share
From continuing operations attributable to the ordinary equity holders of the company		(5.00	)		(4.47	)		(14.02	)		(3.12	)
Total basic (losses) per share attributable to the ordinary equity holders of the company		(5.00	)		(4.47	)		(14.02	)		(3.12	)

(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		(24,970	)		(21,137	)		(69,073	)		(14,456	)

Diluted (losses) per share
(Losses) from continuing operations attributable to the ordinary equity holders of the company:
Used in calculating basic (losses) per share		(24,970	)		(21,137	)		(69,073	)		(14,456	)
(Losses) attributable to the ordinary equity holders of the company used in calculating diluted losses per share		(24,970	)		(21,137	)		(69,073	)		(14,456	)


	Three Months Ended						Nine Months Ended
	March 31, 2019 (in shares)			March 31, 2018 (in shares)			March 31, 2019 (in shares)			March 31, 2018 (in shares)
Weighted average number of ordinary shares used as the denominator in calculating basic losses per share		499,141,882			473,313,024			492,782,636			462,800,544
Weighted average number of ordinary shares and potential ordinary shares used in calculating diluted losses per share		499,141,882			473,313,024			492,782,636			462,800,544

Basis of Preparation - Additional Information (Details) € in Millions, $ in Millions			1 Months Ended			3 Months Ended		6 Months Ended		9 Months Ended
	Oct. 12, 2018 USD ($)	Sep. 14, 2018 USD ($)	Dec. 31, 2018 EUR (€)	Dec. 31, 2017 USD ($)	Dec. 31, 2017 EUR (€)	Mar. 31, 2019 USD ($)	Mar. 31, 2018 USD ($)	Dec. 31, 2018 USD ($)	Dec. 31, 2018 EUR (€)	Mar. 31, 2019 USD ($)	Mar. 31, 2019 AUD ($)	Mar. 31, 2018 USD ($)	Mar. 31, 2018 EUR (€)	Mar. 31, 2019 EUR (€)	Jun. 30, 2018 USD ($)	Jun. 30, 2017 USD ($)
Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items]
Comprehensive gain (loss) after income tax						$ (24,806,000)	$ (21,132,000)			$ (68,897,000)		$ (14,884,000)
Net cash (outflows) in operating activities										38,704,000		54,824,000
Cash & cash equivalents						70,385,000	59,539,000			70,385,000		59,539,000			$ 37,763,000	$ 45,761,000
Maximum available additional funds on equity facility										$ 90,000,000	$ 120.0
Additional equity facility available duration										3 months	3 months
Deferred consideration up-front milestone receivable recognized		$ 20,000								$ 20,000,000
Receipt on non refundable up-front payment upon reaching product regulatory milestone										25,000,000
Revenue recognized from up-front payment as deferred consideration	$ 10,000,000
Milestone payment received										26,409,000		6,125,000
Revenue						1,249,000	1,070,000			14,755,000		15,641,000
Revenue recognized relation to patent license agreement										0		0
Milestone Revenue										11,000,000		12,834,000
TiGenix NV
Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items]
Milestone revenue relating to non-refundable up-front payment				$ 5,900,000	€ 5.0			$ 5,900,000	€ 5.0
Milestone payment received \| €			€ 5.0
Revenue				$ 5,900,000	€ 5.0
TiGenix NV \| Licenses to Patents
Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items]
Milestone revenue relating to non-refundable up-front payment												5,900,000	€ 5.0
Milestone Revenue												11,800,000
Top of Range \| TiGenix NV
Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items]
Milestone revenue relating to non-refundable up-front payment \| €														€ 10.0
Tasly
Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items]
Deferred consideration up-front milestone receivable recognized	$ 20,000,000
Revenue recognized from up-front payment as deferred consideration		$ 10,000,000
Proceeds from closing of strategic alliance												0
JCR Pharmaceuticals Co. Ltd
Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items]
Revenue recognized relation to patent license agreement										1,000,000		1,000,000
Royalties receivable under sales-based milestones						$ 3,300,000	$ 2,500,000			$ 3,300,000		$ 2,500,000

Significant Changes in the Current Reporting Period - Additional Information (Details) - USD ($)		9 Months Ended
	Sep. 14, 2018	Mar. 31, 2019	Sep. 30, 2018
Disclosure Of Significant Changes In Current Reporting Period [Abstract]
Up-front milestone receivable recognized during the period	$ 20,000	$ 20,000,000
Amount recognized as revenue in the period	$ 10,000	(10,000,000)
Deferred consideration		$ 10,000,000	$ 10,000

Loss Before Income Tax - Summary of Loss Before Income Tax (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2019	Mar. 31, 2018
Revenue
Commercialization Revenue	$ 1,042	$ 991	$ 3,264	$ 2,546
Milestone Revenue			11,000	12,834
Interest Revenue	207	79	491	261
Total Revenue	1,249	1,070	14,755	15,641
Clinical trial and research & development	(9,366)	(11,068)	(31,295)	(30,525)
Manufacturing production & development	(2,017)	(1,154)	(9,656)	(1,916)
Employee benefits
Salaries and employee benefits	(5,115)	(5,023)	(15,035)	(14,560)
Defined contribution superannuation expenses	(80)	(92)	(264)	(284)
Equity settled share-based payment transactions	(1,191)	(1,260)	(3,217)	(5,289)
Total Employee benefits	(6,386)	(6,375)	(18,516)	(20,133)
Depreciation and amortization of non-current assets
Plant and equipment depreciation	(135)	(214)	(446)	(718)
Intellectual property amortization	(395)	(618)	(1,183)	(1,346)
Total Depreciation and amortization of non-current assets	(530)	(832)	(1,629)	(2,064)
Other Management & administration expenses
Overheads & administration	(2,318)	(2,578)	(8,762)	(6,405)
Consultancy	(808)	(778)	(2,453)	(2,494)
Legal, patent and other professional fees	(565)	(979)	(2,816)	(2,362)
Intellectual property expenses (excluding the amount amortized above)	(866)	(776)	(2,161)	(2,564)
Total Other Management & administration expenses	(4,557)	(5,111)	(16,192)	(13,825)
Fair value remeasurement of contingent consideration
Remeasurement of contingent consideration	(2,718)	(822)	(3,352)	7,880
Total Fair value remeasurement of contingent consideration	(2,718)	(822)	(3,352)	7,880
Other operating income and expenses
Remeasurement of borrowing arrangements			(752)
Research & development tax incentive	(74)	513	(74)	1,423
Foreign exchange gains/(losses)	(8)	289	(182)	470
Foreign withholding tax paid		(650)	(52)	(650)
Total Other operating income and expenses	(82)	152	(1,060)	1,243
Finance (costs)/gains
Remeasurement of borrowing arrangements	376		376
Interest expense	(3,144)	(423)	(8,282)	(423)
Total Finance costs	(2,768)	(423)	(7,906)	(423)
Loss before income tax	$ (27,175)	$ (24,563)	$ (74,851)	$ (44,122)

Loss Before Income Tax - Summary of Loss Before Income Tax (Parenthetical) (Details) $ in Millions	3 Months Ended		9 Months Ended		12 Months Ended
	Mar. 31, 2019 USD ($)	Mar. 31, 2018 USD ($)	Mar. 31, 2019 USD ($)	Mar. 31, 2018 USD ($)	Jun. 30, 2019 AUD ($)
Disclosure Of Loss Before Income Tax Line Item
Equity settled share-based payment transactions	$ 1,191,000	$ 1,260,000	$ 3,217,000	$ 5,289,000
Legal, patent and other professional fees	565,000	979,000	2,816,000	2,362,000
Revenue	1,249,000	1,070,000	14,755,000	15,641,000
Events after Reporting Period
Disclosure Of Loss Before Income Tax Line Item
Revenue					$ 20.0
Research and Development Tax Incentive \| Australian Government
Disclosure Of Loss Before Income Tax Line Item
Loss adjustments			100,000
Income Statement Functional Expense Categories
Disclosure Of Loss Before Income Tax Line Item
Equity settled share-based payment transactions	1,191,034	1,260,177	3,216,972	5,289,371
Legal, patent and other professional fees			620,000
Total equity settled share-based payment transactions in the profit and loss	1,191,034	1,260,177	3,836,972	5,289,371
Income Statement Functional Expense Categories \| Research and Development
Disclosure Of Loss Before Income Tax Line Item
Equity settled share-based payment transactions	639,245	680,343	1,789,049	3,023,049
Income Statement Functional Expense Categories \| Manufacturing and Commercialization
Disclosure Of Loss Before Income Tax Line Item
Equity settled share-based payment transactions	89,460	96,246	244,698	485,820
Income Statement Functional Expense Categories \| Management and Administration
Disclosure Of Loss Before Income Tax Line Item
Equity settled share-based payment transactions	$ 462,329	$ 483,588	$ 1,183,225	$ 1,780,502

Income Tax Benefit/(Expense) - Summary of Income Tax Expense/(Benefit) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2019	Mar. 31, 2018
Deferred tax
(Increase)/decrease in deferred tax assets	$ (2,180)	$ (3,262)	$ (5,707)	$ 21,177
(Decrease)/increase in deferred tax liabilities	(25)	(164)	(71)	(50,843)
Total deferred tax (benefit)	(2,205)	(3,426)	(5,778)	(29,666)
Income tax (benefit)	$ (2,205)	$ (3,426)	$ (5,778)	$ (29,666)

- Definition

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

+ References + Details

Income Tax Benefit/(Expense) - Additional Information (Details) - USD ($) $ in Thousands	9 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Jun. 30, 2018
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items]
Deferred tax assets not brought to account	$ 56,791		$ 48,425
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 Deferred Tax Assets Not Brought to Account (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Jun. 30, 2018
Unused tax losses
Potential tax benefit at local tax rates ,Unused tax losses	$ 50,288	$ 41,501
Other temporary differences
Potential tax benefit at local tax rates ,Other temporary differences	3,283	3,704
Other tax credits
Potential tax benefit at local tax rates ,Other tax credit	3,220	3,220
Deferred tax assets not brought to account	$ 56,791	$ 48,425

Financial Assets and Liabilities - Summary of Financial Instruments (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Jun. 30, 2018	Mar. 31, 2018	Jun. 30, 2017
Disclosure Of Financial Assets And Liabilities [Line Items]
Cash & cash equivalents	$ 70,385	$ 37,763	$ 59,539	$ 45,761
Trade & other receivables	3,508	50,366
Financial assets at fair value through other comprehensive income	2,601	2,321
Other non-current assets	3,331	3,361
Financial assets, Total	79,825	93,811
Trade and other payables	18,551	18,921
Borrowings	79,577	59,397
Contingent considerations	44,898	42,070
Financial liabilities, Total	143,026	120,388
Liabilities at Amortized Cost
Disclosure Of Financial Assets And Liabilities [Line Items]
Trade and other payables	18,551	18,921
Borrowings	79,577	59,397
Financial liabilities, Total	98,128	78,318
Liabilities at FVTPL
Disclosure Of Financial Assets And Liabilities [Line Items]
Contingent considerations	44,898	42,070
Financial liabilities, Total	44,898	42,070
Assets at Amortized Cost
Disclosure Of Financial Assets And Liabilities [Line Items]
Cash & cash equivalents	70,385	37,763
Trade & other receivables	3,508	50,366
Other non-current assets	3,331	3,361
Financial assets, Total	77,224	91,490
Assets at FVOCI
Disclosure Of Financial Assets And Liabilities [Line Items]
Financial assets at fair value through other comprehensive income	2,601	2,321
Financial assets, Total	$ 2,601	$ 2,321

Financial Assets and Liabilities - Summary of Cash and Cash Equivalents (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Jun. 30, 2018	Mar. 31, 2018	Jun. 30, 2017
Disclosure Of Financial Assets And Liabilities [Abstract]
Cash at bank	$ 69,960	$ 37,221	$ 58,980
Deposits at call	425	542	559
Cash and cash equivalents	$ 70,385	$ 37,763	$ 59,539	$ 45,761

Financial Assets and Liabilities - Summary of Cash and Cash Equivalents (Parenthetical) (Details) - USD ($) $ in Millions	Mar. 31, 2019	Jun. 30, 2018
Disclosure Of Financial Assets And Liabilities [Abstract]
Interest-bearing deposits at call held as security	$ 0.4	$ 0.4

Financial Assets and Liabilities - Summary of Trade and Other Receivables (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Jun. 30, 2018
Disclosure Of Financial Assets And Liabilities [Abstract]
Trade debtors	$ 1,038	$ 6,630
Funds receivable from debt financing and unissued capital		38,950
Income tax and tax incentives recoverable	1,525	3,305
Other receivables	134	615
Foreign withholding tax recoverable	471	471
Security deposit	250	250
Sundry debtors	40	81
Other recoverable taxes (Goods and services tax and value-added tax)	43	53
Interest receivables	7	11
Trade and other receivables	$ 3,508	$ 50,366

Financial Assets and Liabilities - Summary of Trade and Other Receivables (Parenthetical) (Details) - USD ($)		9 Months Ended
	Jul. 10, 2018	Mar. 31, 2019	Jun. 30, 2018
Disclosure Of Financial Assets And Liabilities [Line Items]
Receivable from financing agreement			$ 38,950,000
Net proceeds from financing facility, recognized in cash and cash equivalents		$ 43,572,000
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	Mar. 31, 2019	Jun. 30, 2018
Disclosure Of Financial Assets And Liabilities [Abstract]
Clinical trial research and development expenditure	$ 8,657	$ 12,042
Prepaid insurance and subscriptions	1,513	141
Other	1,464	759
Prepayments	$ 11,634	$ 12,942

Financial Assets and Liabilities - Summary of Trade and Other Payables (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Jun. 30, 2018
Disclosure Of Financial Assets And Liabilities [Abstract]
Trade and other payables	$ 18,551	$ 18,921
Trade and other payables	$ 18,551	$ 18,921

Financial Assets and Liabilities - Summary of Borrowings (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Mar. 31, 2019	Jun. 30, 2018
Current
Borrowing arrangements	$ 9,359
Current borrowings	9,359
Non-current
Borrowing arrangements	70,641	$ 65,000
Less: transaction costs	(6,738)	(6,328)
Amortization of carrying amount, net of payments made	6,315	725
Borrowings	$ 70,218	$ 59,397

Financial Assets and Liabilities - Additional Information (Details) $ in Millions	3 Months Ended	6 Months Ended	9 Months Ended
	Mar. 31, 2019 USD ($)	Dec. 31, 2018	Mar. 31, 2019 USD ($)	Jan. 14, 2019 USD ($)	Dec. 20, 2018	Sep. 27, 2018	Jun. 30, 2018 USD ($)	Jun. 29, 2018 USD ($)	Jun. 29, 2018 AUD ($)	Jun. 14, 2018	Mar. 22, 2018	Mar. 06, 2018 USD ($)
Disclosure Of Financial Assets And Liabilities [Line Items]
Borrowings	$ 79,577,000		$ 79,577,000				$ 59,397,000
Gain on remeasurement of borrowing arrangements	376,000		376,000
Current portion of borrowings	9,359,000		9,359,000
Interest-bearing deposits at call held as security	400,000		400,000				400,000
Security deposit	250,000		250,000				250,000
Remeasurement of borrowing arrangements			752,000
Hercules Capital, Inc.
Disclosure Of Financial Assets And Liabilities [Line Items]
Interest-bearing deposits at call held as security	400,000		400,000
Security deposit	300,000		300,000
Hercules Capital, Inc. \| Other Assets
Disclosure Of Financial Assets And Liabilities [Line Items]
Bank guarantee	700,000		700,000
Letters of credit	$ 1,200,000		1,200,000
Hercules Capital, Inc. \| Floating Interest Rate
Disclosure Of Financial Assets And Liabilities [Line Items]
Borrowings principal amount												$ 75,000,000
Gain on remeasurement of borrowing arrangements			$ 400,000
Borrowings, interest rate	9.45%		9.45%		10.45%	10.20%				9.95%	9.70%	9.45%
Remaining available borrowings	$ 25,000,000		$ 25,000,000
Borrowings, maturity			March 2022
Current portion of borrowings	9,000,000		$ 9,000,000
Hercules Capital, Inc. \| Tranche One
Disclosure Of Financial Assets And Liabilities [Line Items]
Borrowings	$ 50,000,000		$ 50,000,000				$ 35,000,000
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 \| Potential Ordinary Share Transactions \| Floating Interest Rate
Disclosure Of Financial Assets And Liabilities [Line Items]
Borrowings				$ 15,000,000
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.
Remeasurement of borrowing arrangements			$ 700,000
NovaQuest Capital Management, L.L.C. \| Fixed interest rate [member]
Disclosure Of Financial Assets And Liabilities [Line Items]
Borrowings, interest rate								15.00%	15.00%
Borrowings, maturity		July 2026
Total facility amount								$ 40,000
Loan administration fee payable, current									$ 0.4
NovaQuest Capital Management, L.L.C. \| Tranche One \| Fixed interest rate [member]
Disclosure Of Financial Assets And Liabilities [Line Items]
Borrowings								$ 30,000

Financial Assets and Liabilities - Summary of Net Debt Reconciliation (Details) - USD ($) $ in Thousands	9 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Disclosure Of Reconciliation Of Liabilities Arising From Financing Activities [Line Items]
Cashflows from financing activities - as of June 30, 2018	$ 31,312
Changes from financing cash flows
Proceeds from debt	43,572
Payments of transaction costs from borrowings	(1,582)	$ (40)
Total changes in liabilities arising on financing cash flows	41,990
Accrued transaction costs	(39)
Amortization of carrying amount, net of payments made	6,314
Carrying value - as of March 31, 2019	79,577
Current Borrowings
Disclosure Of Reconciliation Of Liabilities Arising From Financing Activities [Line Items]
Cashflows from financing activities - as of June 30, 2018	3,095
Changes from financing cash flows
Proceeds from debt	6,264
Total changes in liabilities arising on financing cash flows	6,264
Carrying value - as of March 31, 2019	9,359
Non-current Borrowings
Disclosure Of Reconciliation Of Liabilities Arising From Financing Activities [Line Items]
Cashflows from financing activities - as of June 30, 2018	28,217
Changes from financing cash flows
Proceeds from debt	37,308
Payments of transaction costs from borrowings	(1,582)
Total changes in liabilities arising on financing cash flows	35,726
Accrued transaction costs	(39)
Amortization of carrying amount, net of payments made	6,314
Carrying value - as of March 31, 2019	$ 70,218

Financial Assets and Liabilities - Summary of Financial Assets and Liabilities Measured and Recognized at Fair Value (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Jun. 30, 2018
Financial assets at fair value through other comprehensive income:
Total Financial Assets	$ 2,601	$ 2,321
Financial liabilities at fair value through profit or loss:
Contingent considerations	44,898	42,070
Total Financial Liabilities	44,898	42,070
Level 3
Financial assets at fair value through other comprehensive income:
Total Financial Assets	2,601	2,321
Financial liabilities at fair value through profit or loss:
Contingent considerations	44,898	42,070
Total Financial Liabilities	44,898	42,070
Equity Securities
Financial assets at fair value through other comprehensive income:
Total Financial Assets	2,601	2,321
Equity Securities \| Level 3
Financial assets at fair value through other comprehensive income:
Total Financial Assets	$ 2,601	$ 2,321

Financial Assets and Liabilities - Summary of Changes in Fair Value of Level 3 Instruments (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2019	Mar. 31, 2018	Jun. 30, 2018
Disclosure Of Financial Instruments [Line Items]
Remeasurement	$ 2,718	$ 822	$ 3,352	$ (7,880)
Level 3
Disclosure Of Financial Instruments [Line Items]
Opening balance			42,070	$ 63,595	$ 63,595
Amount used during the year			(524)		(10,984)
Remeasurement			3,352		(10,541)
Closing balance	$ 44,898		$ 44,898		$ 42,070

Financial Assets and Liabilities - Summary of Changes in Fair Value of Level 3 Instruments (Parenthetical) (Details) - USD ($)	9 Months Ended	12 Months Ended
	Mar. 31, 2019	Jun. 30, 2018
Level 3
Disclosure Of Financial Instruments [Line Items]
Gain loss on re-measurement of contingent consideration provision	$ 3,300	$ (10,500)

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	9 Months Ended	12 Months Ended
	Mar. 31, 2019	Jun. 30, 2018	Jun. 30, 2017
Disclosure Of Financial Instruments [Line Items]
Contingent consideration provision	$ 44,898	$ 42,070	$ 63,595
Unobservable inputs	Expected unit revenues
Relationship of unobservable inputs to fair value	Nine months ended March 31, 2019: A 10% increase/decrease in the price assumptions adopted would increase/decrease the fair value by 4%. Year ended June 30, 2018: A 10% increase/decrease in the price assumptions adopted would increase/decrease the fair value by 4%.
Discounted cash flow [member]
Disclosure Of Financial Instruments [Line Items]
Contingent consideration provision	$ 44,898	$ 42,070
Valuation technique	Discounted cash flows
Unobservable inputs	Risk adjusted discount rate
Relationship of unobservable inputs to fair value	Nine months ended March 31, 2019: A change in the discount rate by 0.5% would increase/decrease the fair value by 1%. Year ended June 30, 2018: 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	Nine months ended March 31, 2019: A 10% increase/decrease in sales volume assumptions adopted would increase/decrease the fair value by 4%. Year ended June 30, 2018: A 10% increase/decrease in sales volume assumptions adopted would increase/decrease the fair value by 4%.

Financial Assets and Liabilities - Summary of Valuation Processes of Contingent Consideration at Fair Value (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Jun. 30, 2018
Disclosure Of Financial Instruments [Abstract]
Fair value of cash or stock payable, dependent on achievement of future late-stage clinical or regulatory targets	$ 24,228	$ 23,674
Fair value of royalty payments from commercialization of the intellectual property acquired	20,670	18,396
Contingent Consideration	$ 44,898	$ 42,070

Non-financial Assets and Liabilities - Summary of Intangible Assets (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Mar. 31, 2019	Jun. 30, 2018
Disclosure Of Intangible Assets [Line Items]
Opening net book amount	$ 584,606	$ 586,350
Exchange differences	(2)	(3)
Amortization charge	(1,183)	(1,741)
Closing net book amount	583,421	584,606
Cost
Disclosure Of Intangible Assets [Line Items]
Opening net book amount	650,899
Closing net book amount	650,877	650,899
Accumulated Amortization
Disclosure Of Intangible Assets [Line Items]
Opening net book amount	(4,374)
Closing net book amount	(5,537)	(4,374)
Accumulated Impairment
Disclosure Of Intangible Assets [Line Items]
Opening net book amount	(61,919)
Closing net book amount	(61,919)	(61,919)
Goodwill
Disclosure Of Intangible Assets [Line Items]
Opening net book amount	134,453	134,453
Closing net book amount	134,453	134,453
Goodwill \| Cost
Disclosure Of Intangible Assets [Line Items]
Opening net book amount	134,453
Closing net book amount	134,453	134,453
Acquired Licenses to Patents
Disclosure Of Intangible Assets [Line Items]
Opening net book amount	1,770	1,898
Exchange differences	(3)	(3)
Amortization charge	(92)	(125)
Closing net book amount	1,675	1,770
Acquired Licenses to Patents \| Cost
Disclosure Of Intangible Assets [Line Items]
Opening net book amount	2,749
Closing net book amount	2,727	2,749
Acquired Licenses to Patents \| Accumulated Amortization
Disclosure Of Intangible Assets [Line Items]
Opening net book amount	(979)
Closing net book amount	(1,052)	(979)
In-process Research and Development Acquired
Disclosure Of Intangible Assets [Line Items]
Opening net book amount	427,779	427,779
Closing net book amount	427,779	427,779
In-process Research and Development Acquired \| Cost
Disclosure Of Intangible Assets [Line Items]
Opening net book amount	489,698
Closing net book amount	489,698	489,698
In-process Research and Development Acquired \| Accumulated Impairment
Disclosure Of Intangible Assets [Line Items]
Opening net book amount	(61,919)
Closing net book amount	(61,919)	(61,919)
Current Marketed Products
Disclosure Of Intangible Assets [Line Items]
Opening net book amount	20,604	22,220
Exchange differences	1
Amortization charge	(1,091)	(1,616)
Closing net book amount	19,514	20,604
Current Marketed Products \| Cost
Disclosure Of Intangible Assets [Line Items]
Opening net book amount	23,999
Closing net book amount	23,999	23,999
Current Marketed Products \| Accumulated Amortization
Disclosure Of Intangible Assets [Line Items]
Opening net book amount	(3,395)
Closing net book amount	$ (4,485)	$ (3,395)

Non-financial Assets and Liabilities - Additional Information (Details)	9 Months Ended
	Mar. 31, 2019 USD ($)
Goodwill
Disclosure Of Intangible Assets [Line Items]
Impairment loss recognised in profit or loss	$ 0
In-process Research and Development Acquired
Disclosure Of Intangible Assets [Line Items]
Impairment loss recognised in profit or loss	$ 0

Non-financial Assets and Liabilities - Summary of Deferred Tax Balances (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Jun. 30, 2018
Deferred tax assets
Tax losses	$ 57,602	$ 55,904
Other temporary differences	4,678	669
Total deferred tax assets	62,280	56,573
Deferred tax liabilities
Intangible assets	76,581	76,652
Total deferred tax liabilities	76,581	76,652
Net deferred tax liabilities	14,301	20,079
Deferred tax assets expected to be settled after 12 months	62,280	56,573
Deferred tax liabilities expected to be settled within 12 months	99	147
Deferred tax liabilities expected to be settled after 12 months	$ 76,482	$ 76,505

Non-financial Assets and Liabilities - Schedule of Movements Related to Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Mar. 31, 2019	Jun. 30, 2018
Deferred Tax Assets And Liabilities [Line Items]
Beginning balance	$ 20,079	$ 49,293
Reclassifications		1,473
Charged/(credited) to:
- profit or loss	(5,778)	(30,687)
Ending balance	14,301	20,079
Tax losses (DTA)
Deferred Tax Assets And Liabilities [Line Items]
Beginning balance	(55,904)	(74,660)
Reclassifications		1,473
Charged/(credited) to:
- profit or loss	(1,698)	17,283
Ending balance	(57,602)	(55,904)
Other Temporary Differences (DTA)
Deferred Tax Assets And Liabilities [Line Items]
Beginning balance	(669)	(3,566)
Reclassifications		0
Charged/(credited) to:
- profit or loss	(4,009)	2,897
Ending balance	(4,678)	(669)
Intangible Assets (DTL)
Deferred Tax Assets And Liabilities [Line Items]
Beginning balance	76,652	127,519
Reclassifications		0
Charged/(credited) to:
- profit or loss	(71)	(50,867)
Ending balance	$ 76,581	$ 76,652

Non-financial Assets and Liabilities - Schedule of Deferred Consideration (Details) - USD ($)		9 Months Ended
	Sep. 14, 2018	Mar. 31, 2019
Disclosure Of Non Financial Assets And Liabilities [Abstract]
Up-front milestone receivable recognized during the period	$ 20,000	$ 20,000,000
Amount recognized as revenue in the period	$ 10,000	(10,000,000)
Balance as of the end of the period		$ 10,000,000

Cash Flow Information - Summary of Cash Flow Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2019	Mar. 31, 2018	Jun. 30, 2018	Jun. 30, 2017
Reconciliation of cash and cash equivalents
Cash at bank	$ 69,960	$ 58,980	$ 69,960	$ 58,980	$ 37,221
Deposits at call	425	559	425	559	542
Cash and cash equivalents	70,385	59,539	70,385	59,539	$ 37,763	$ 45,761
Loss for the period	$ (24,970)	$ (21,137)	(69,073)	(14,456)
Add/(deduct) net loss for non-cash items as follows:
Depreciation and amortization			1,629	2,064
Foreign exchange gains			(175)	(497)
Finance costs			5,214	181
Remeasurement of borrowing arrangements			376
Remeasurement of contingent consideration			3,352	(7,880)
Payment for services rendered in shares			620
Equity settled share-based payment			3,217	5,289
Deferred tax benefit			(5,778)	(29,641)
Change in operating assets and liabilities:
(Increase)/decrease in trade and other receivables			5,543	(6,690)
(Increase)/decrease in prepayments			1,682	84
Decrease/(increase) in tax assets			1,728	(1,423)
Increase/(decrease) in trade creditors and accruals			1,130	(1,547)
Increase/(decrease) in provisions			1,831	(308)
Increase/(decrease) in deferred consideration			10,000
Net cash (outflows) in operating activities			$ (38,704)	$ (54,824)

Issued Capital - Summary of Movements in Ordinary Share Capital (Details) $ in Thousands	3 Months Ended	9 Months Ended
	Mar. 31, 2018 USD ($) shares	Mar. 31, 2019 USD ($) shares	Mar. 31, 2018 USD ($) shares
Disclosure Of Classes Of Share Capital [Line Items]
Beginning balance	$ 575,605	$ 546,008	$ 516,766
Issues of ordinary shares during the period
Ending balance	$ 556,135	$ 500,942	$ 556,135
Ordinary Shares
Disclosure Of Classes Of Share Capital [Line Items]
Beginning balance, Shares \| shares		482,639,654	428,221,398
Beginning balance		$ 889,481	$ 830,425
Issues of ordinary shares during the period
Exercise of share options ,shares \| shares		313,108	289,245
Transfer of exercised options		$ 258	$ 116
Share based compensation for services rendered, shares \| shares		1,209,187	540,051
Share based compensation for services rendered		$ 1,170	$ 662
Payment of contingent consideration, shares \| shares			6,029,545
Payment for contingent consideration			$ 10,000
Entitlement offer to existing eligible shareholders, shares \| shares			36,191,982
Entitlement offer to existing eligible shareholders			$ 40,449
Transaction costs arising on share issue		$ (817)	$ (2,208)
Total contributions of equity during the period, shares \| shares		15,986,554	45,050,823
Total contributions of equity during the period		$ 20,611	$ 49,019
Share options reserve transferred to equity on exercise of options		$ 313	$ 38
Ending balance, Shares \| shares	473,272,221	498,626,208	473,272,221
Ending balance	$ 879,482	$ 910,405	$ 879,482
Ordinary Shares \| Placement Agreement
Issues of ordinary shares during the period
Placement of shares under a share placement agreement, shares \| shares		14,464,259	2,000,000
Placement of shares under a share placement agreement		$ 20,000

Issued Capital - Summary of Movements in Ordinary Share Capital (Parenthetical) (Details) - Tasly - Equity Purchase Fee $ / shares in Units, $ in Millions	9 Months Ended
	Mar. 31, 2019 USD ($) $ / shares
Disclosure Of Classes Of Share Capital [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%

Financial Risk Management - Summary of Borrowings of Interest Rate Changes (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Jun. 30, 2018
Disclosure of Financial Risk Management [Line Items]
Variable rate borrowings	$ 143,026	$ 120,388
Interest Rate Risk
Disclosure of Financial Risk Management [Line Items]
Variable rate borrowings	$ 47,540	$ 31,966
Percentage of loans	59.00%	54.00%
Interest Rate Risk \| Hercules Capital, Inc.
Disclosure of Financial Risk Management [Line Items]
Variable rate borrowings, current	$ 8,959
Variable rate borrowings, Non-current	$ 38,581	$ 31,966
Interest Rate Risk \| Hercules Capital, Inc. \| Current Borrowings
Disclosure of Financial Risk Management [Line Items]
Percentage of loans	11.00%	0.00%
Interest Rate Risk \| Hercules Capital, Inc. \| Non-current Borrowings
Disclosure of Financial Risk Management [Line Items]
Percentage of loans	48.00%	54.00%

- Definition

The amount of liabilities that are: (a) a contractual obligation: (i) to deliver cash or another financial asset to another entity; or (ii) to exchange financial assets or financial liabilities with another entity under conditions that are potentially unfavourable to the entity; or (b) a contract that will, or may be, settled in the entity’s own equity instruments and is: (i) a non-derivative for which the entity is, or may be, obliged to deliver a variable number of the entity’s own equity instruments; or (ii) a derivative that will, or may be, settled other than by the exchange of a fixed amount of cash or another financial asset for a fixed number of the entity’s own equity instruments. For this purpose, rights, options or warrants to acquire a fixed number of the entity’s own equity instruments for a fixed amount of any currency are equity instruments if the entity offers the rights, options or warrants pro rata to all of its existing owners of the same class of its own non-derivative equity instruments. Also, for those purposes the entity’s own equity instruments do not include puttable financial instruments that are classified as equity instruments in accordance with paragraphs 16A-16B of IAS 32, instruments that impose on the entity an obligation to deliver to another party a pro rata share of the net assets of the entity only on liquidation and are classified as equity instruments in accordance with paragraphs 16C-16D of IAS 32, or instruments that are contracts for the future receipt or delivery of the entity’s own equity instruments. As an exception, an instrument that meets the definition of a financial liability is classified as an equity instrument if it has all the features and meets the conditions in paragraphs 16A-16B or paragraphs 16C-16D of IAS 32. [Refer: Financial instruments, class [member]; Financial assets; Derivatives [member]]

+ References + Details

Financial Risk Management - Additional Information (Details) - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Mar. 31, 2019	Jun. 30, 2018
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	$ 3.3
Decrease in profit	3.3
Decrease non-current borrowings	1.5
Increase in profit	$ 1.5
Percentage of decrease in net sales	20.00%
Interest Rate Risk
Disclosure of Financial Risk Management [Line Items]
Effect on profit from change in interest rates	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 - Schedule of Borrowings which Expose Interest Rate Risk Together with the Maximum and Minimum Interest Rates Being Earned (Details) - Interest Rate Risk - USD - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Mar. 31, 2019	Jun. 30, 2018
Disclosure of Financial Risk Management [Line Items]
Variable rate borrowings, Non-current	$ 47,540	$ 31,966
Rate increase on borrowings	261	159
Rate decrease on borrowings	$ (261)	$ (159)
Bottom of Range
Disclosure of Financial Risk Management [Line Items]
Borrowings Interest rate	10.45%	9.95%
Rate increase	1.42%	0.88%
Rate decrease	1.16%	0.72%
Bottom of Range \| Borrowings
Disclosure of Financial Risk Management [Line Items]
Rate increase	10.97%	10.45%
Rate decrease	9.93%	9.45%
Top of Range
Disclosure of Financial Risk Management [Line Items]
Borrowings Interest rate	10.45%	9.95%
Rate increase	1.42%	0.88%
Rate decrease	1.16%	0.72%
Top of Range \| Borrowings
Disclosure of Financial Risk Management [Line Items]
Rate increase	10.97%	10.45%
Rate decrease	9.93%	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) - USD ($) $ in Thousands	Mar. 31, 2019	Jun. 30, 2018
Disclosure of Financial Risk Management [Line Items]
Borrowings	$ 79,577	$ 59,397
Hercules Capital, Inc. \| Tranche One
Disclosure of Financial Risk Management [Line Items]
Borrowings	$ 50,000	$ 35,000

Financial Risk Management - Schedule of Deposits Held which Derive Interest Revenue Together with the Maximum and Minimum Interest Rates Being Earned (Details) - Interest Rate Risk $ in Thousands, $ in Thousands	9 Months Ended		12 Months Ended
	Mar. 31, 2019 USD ($)	Mar. 31, 2019 AUD ($)	Jun. 30, 2018 USD ($)	Jun. 30, 2018 AUD ($)
USD
Disclosure of Financial Risk Management [Line Items]
Funds invested	$ 60,984		$ 99
Rate increase on funds invested	79		0
Rate decrease on funds invested	$ (79)		$ 0
USD \| Bottom of Range
Disclosure of Financial Risk Management [Line Items]
Funds invested percentage	1.29%	1.29%	0.80%	0.80%
Rate increase	1.42%	1.42%	0.88%	0.88%
Rate decrease	1.16%	1.16%	0.72%	0.72%
USD \| Top of Range
Disclosure of Financial Risk Management [Line Items]
Funds invested percentage	1.29%	1.29%	0.80%	0.80%
Rate increase	1.42%	1.42%	0.88%	0.88%
Rate decrease	1.16%	1.16%	0.72%	0.72%
AUD
Disclosure of Financial Risk Management [Line Items]
Funds invested		$ 600		$ 600
Rate increase on funds invested		2		2
Rate decrease on funds invested		$ (2)		$ (2)
AUD \| Bottom of Range
Disclosure of Financial Risk Management [Line Items]
Funds invested percentage	2.75%	2.75%	2.72%	2.72%
Rate increase	3.03%	3.03%	2.99%	2.99%
Rate decrease	2.48%	2.48%	2.45%	2.45%
AUD \| Top of Range
Disclosure of Financial Risk Management [Line Items]
Funds invested percentage	2.75%	2.75%	2.72%	2.72%
Rate increase	3.03%	3.03%	2.99%	2.99%
Rate decrease	2.48%	2.48%	2.45%	2.45%

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	9 Months Ended	12 Months Ended
	Mar. 31, 2019	Jun. 30, 2018
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) - USD ($) $ in Thousands	Mar. 31, 2019	Jun. 30, 2018
Disclosure of Financial Risk Management [Line Items]
Current borrowings	$ 9,359
Borrowings	70,218	$ 59,397
Borrowings	79,577	59,397
Commodity price risk [member]
Disclosure of Financial Risk Management [Line Items]
Borrowings	$ 32,037	$ 27,431
Percent of total loans	41.00%	46.00%
NovaQuest \| Commodity price risk [member]
Disclosure of Financial Risk Management [Line Items]
Current borrowings	$ 400
Borrowings	$ 31,637	$ 27,431
Percent of current borrowings	1.00%	0.00%
Percent of non-current borrowings	40.00%	46.00%

Financial Risk Management - Schedule of Maturity Profile of Anticipated Future Contractual Cash Flows Borrowings and Carrying Value (Details) $ in Thousands	Mar. 31, 2019 USD ($)
Disclosure Of Maturity Analysis For Derivative Financial Liabilities [Line Items]
Total contractual cash flows	$ (142,732)
Carrying amount	(79,577)
Within 1 year [Member]
Disclosure Of Maturity Analysis For Derivative Financial Liabilities [Line Items]
Total contractual cash flows	(14,477)
Between 1-2 years [Member]
Disclosure Of Maturity Analysis For Derivative Financial Liabilities [Line Items]
Total contractual cash flows	(28,615)
Between 2-5 years [Member]
Disclosure Of Maturity Analysis For Derivative Financial Liabilities [Line Items]
Total contractual cash flows	(60,787)
Over 5 years [Member]
Disclosure Of Maturity Analysis For Derivative Financial Liabilities [Line Items]
Total contractual cash flows	(38,853)
Borrowings
Disclosure Of Maturity Analysis For Derivative Financial Liabilities [Line Items]
Total contractual cash flows	(142,732)
Carrying amount	(79,577)
Borrowings \| Within 1 year [Member]
Disclosure Of Maturity Analysis For Derivative Financial Liabilities [Line Items]
Total contractual cash flows	(14,477)
Borrowings \| Between 1-2 years [Member]
Disclosure Of Maturity Analysis For Derivative Financial Liabilities [Line Items]
Total contractual cash flows	(28,615)
Borrowings \| Between 2-5 years [Member]
Disclosure Of Maturity Analysis For Derivative Financial Liabilities [Line Items]
Total contractual cash flows	(60,787)
Borrowings \| Over 5 years [Member]
Disclosure Of Maturity Analysis For Derivative Financial Liabilities [Line Items]
Total contractual cash flows	$ (38,853)

(Losses)/Earnings Per Share - Summary of (Loss) Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2019	Mar. 31, 2018
(a) Basic (losses) per share
From continuing operations attributable to the ordinary equity holders of the company	$ (0.0500)	$ (0.0447)	$ (0.1402)	$ (0.0312)
Total basic (losses) per share attributable to the ordinary equity holders of the company	(0.0500)	(0.0447)	(0.1402)	(0.0312)
(b) Diluted (losses) per share
From continuing operations attributable to the ordinary equity holders of the company	(0.0500)	(0.0447)	(0.1402)	(0.0312)
Total basic (losses) per share attributable to the ordinary equity holders of the company	$ (0.0500)	$ (0.0447)	$ (0.1402)	$ (0.0312)
(c) Reconciliation of (losses) used in calculating (losses) per share
From continuing operations	$ (24,970)	$ (21,137)	$ (69,073)	$ (14,456)
Used in calculating basic (losses) per share	(24,970)	(21,137)	(69,073)	(14,456)
(Losses) attributable to the ordinary equity holders of the company used in calculating diluted losses per share	$ (24,970)	$ (21,137)	$ (69,073)	$ (14,456)
Weighted average number of ordinary shares used as the denominator in calculating basic losses per share	499,141,882	473,313,024	492,782,636	462,800,544
Weighted average number of ordinary shares and potential ordinary shares used in calculating diluted losses per share	499,141,882	473,313,024	492,782,636	462,800,544

Segment Information - Additional Information (Details)	9 Months Ended
Segment Information - Additional Information (Details)	Mar. 31, 2019 Segment
Disclosure Of Operating Segments [Abstract]
Number of operating segment	1