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Update: Mesoblast CEO Boosts Stake in Company With AU$2.7 Million Exercise of Options; Shares Down 5%

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(Updates with the stock movement in the headline and last paragraph.)

Mesoblast (ASX:MSB) CEO Silviu Itescu increased his holdings in the company to about 80.8 million common shares through the exercise of about 1.9 million options at a price of AU$1.45 each, according to a Tuesday filing with the Australian bourse.

Itescu, the company's founder, paid Mesoblast about AU$2.7 million to exercise the options, per the filing.

"The investment reflects my strong confidence in Mesoblast's continued growth trajectory and its value proposition," the executive said.

The company's shares fell 5% in recent Tuesday trade.

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