Mesoblast shares are currently trading for 43.5 cents apiece, up 10.1% for the day so far.

What's pushing the Mesoblast share price higher?

It's likely that ASX Mesoblast shares are simply following the lead of their NASDAQ counterparts today.

The Mesoblast Ltd (NASDAQ: MESO) share price rose 8.82% overnight to close the session at $1.48 per share.

The Nasdaq Composite (INDEXNASDAQ: .IXIC) rose 0.061%, while the Dow Jones Index (INDEXDJX: .DJI) fell 0.051%.

There has been no price-sensitive news from Mesoblast since its shock announcement of another FDA knockback on its flagship remestemcel-L drug on 8 August.

The Mesoblast share price fell by almost 60% after the United States Food and Drug Administration (FDA) requested another round of testing.

Mesoblast is expecting to meet with the FDA to design the next study by mid-September.

Mesoblast received its first FDA knock-back in October 2020.

Investors then had to wait almost three years while the company carried out further tests, reapplied for approval, and received the FDA's decision.

The post Mesoblast share price surges 10%. What's going on? appeared first on The Motley Fool Australia.