Did you know Piedmont (ASX:PLL) and Mesoblast (ASX:MSB) are listed on the NASDAQ?

What do Piedmont (ASX:PLL) and Mesoblast (ASX:MSB) have in common? They are both listed on the ASX and the NASDAQ. Let's take a closer look.

| More on:
wondering about asx share price represented by man surrounded by question marks

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

Some ASX shares are listed on more than one stock exchange, which is most commonly referred to as a dual listing. Companies opt to list on two exchanges to benefit from additional liquidity and greater access to capital. 

Piedmont Lithium Ltd (ASX: PLL) and Mesoblast Limited (ASX: MSB) are two examples of companies that are listed on both the ASX and Nasdaq Composite (NASDAQ: .IXIC). 

What do the 2 companies have in common? 

Piedmont is an emerging lithium company focused on the development of its 100%-owned Piedmont lithium project in North Carolina, United States.

The company is in its early days with a recent commencement of its definitive feasibility study for its planned 160,000 tonne output lithium spodumene concentrate operation. This study is expected to be completed by mid-2021. 

Mesoblast, on the other hand, is more of an investing household name and operates in the biotech sector. The company has a number of products in Phase 3 clinical trials to treat complex inflammatory diseases resistant to conventional standards of care. 

While the companies operate in completely different sectors, they do have one thing in common. Both are currently unprofitable. 

Piedmont aiming to become the 'next' US lithium producer 

Piedmont aims to leverage the next global mega-trend of electric vehicles and clean energy products. In September last year, the company entered into a sales agreement with Telsa Inc (NASDAQ: TSLA). The deal sees Piedmont making its first shipments in 2022-23, with a 5-year initial term. 

However, at present, the company has yet to sell anything out of the ground, let alone construct the plant required to dig and process spodumene concentrate. Piedmont is aiming to begin construction in the second half of 2021 and commence plant commissioning and production by 2022. 

To help it overcome the significant capital investment required to progress from being an explorer to a producer, the company successfully completed a listing on the NASDAQ.

Mesoblast continues to burn cash 

Mesoblast has a history of burning through cash and relying on additional capital raisings to stay afloat. 

The company's portfolio of Phase 3 product candidates comprises:

  • Remestemcel-L for the treatment of steroid-refractory acute graft versus host disease and for moderate to severe acute respiratory distress syndrome due to COVID-19 infection.
  • REVASCOR for advanced chronic heart failure. 
  • MPC-06-ID for chronic low back pain due to generative disc disease. 

The next step after Phase 3 trials would be to seek the US Food and Drug Administration's (FDA) approval for commercialisation. 

NASDAQ listing to diversify capital raising

Both companies arguably have significant revenue potential should they be able to overcome their near-term challenges. However, additional capital may be needed on their road to profitability. 

By listing on the NASDAQ, both Piedmont and Mesoblast can diversify their capital raising activities, rather than being reliant only on the domestic ASX. 

Kerry Sun has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of and recommends Tesla. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

More on Share Market News

Three analysts look at tech options on a wall screen
Share Market News

Here's how the ASX 200 market sectors stacked up this week

ASX tech shares are on fire, leading the 11 market sectors for a third consecutive week.

Read more »

The silhouettes of ten people holding hands with their arms raised against the sky, as the sun rises or sets in the background.
Share Market News

Here are the top 10 ASX 200 shares today

The ASX 200 clocked a few new all-time highs this Friday.

Read more »

A young couple stands next to a real estate agent in an empty apartment they are inspecting
Share Market News

How ASX shares vs. property performed in February

We reveal the property price growth for each city and regional market and the top 5 risers of the ASX…

Read more »

ASX shares Business man marking buy on board and underlining it
Broker Notes

Brokers name 3 ASX shares to buy now

Here's why brokers are feeling bullish about these three shares this week.

Read more »

a man weraing a suit sits nervously at his laptop computer biting into his clenched hand with nerves, and perhaps fear.
Share Fallers

Why Ampol, Calix, Collins Foods, and Propel shares are tumbling today

These ASX shares are ending the week in the red. But why?

Read more »

A man wearing a red jacket and mountain hiking clothes stands at the top of a mountain peak and looks out over countless mountain ranges.
Technology Shares

The Nasdaq just hit a fresh all-time high. What could it mean for Aussie investors?

With the Nasdaq at fresh highs, ASX tech shares are reaping the benefits.

Read more »

Man drawing an upward line on a bar graph symbolising a rising share price.
Share Gainers

Why Core Lithium, Life360, Syrah, and Xero shares are jumping today

These ASX shares are ending the week on a high. But why?

Read more »

Businessman smiles with arms outstretched after receiving good news.
Share Market News

Boom! ASX 200 rocketing into new all-time highs on Friday

The ASX 200 is setting new records on Friday.

Read more »