Australia's Mesoblast hits one-month high on upbeat quarterly update

** Shares of Mesoblast MSB.AX rise as much as 17% to A$2.20, their biggest intraday pct gain since July 18

** Stock hits its highest level since September 25

** Biotech company reports a 44% increase in Q1 net revenue, driven by continued growth in Ryoncil sales

** Says net operating cash spend improved 86% to $2.1 million from $14.9 million a year earlier

** Says the US FDA confirmed a biologics licence application for rexlemestrocel-L in prevention of gastrointestinal bleeding may proceed

** YTD, stock down 21.3%, including the session's moves