Mereo Biopharma Stock Price, News & Analysis

Mereo BioPharma Group (NASDAQ: MREO) has announced that CEO Dr. Denise Scots-Knight will participate in a fireside chat at the SVB Securities Global Biopharma Conference on February 15, 2023, at 01:00 PM GMT / 08:00 AM ET. The event will be accessible via a live audio webcast on the company's website, with an archived replay available for two weeks post-event.

Mereo is focused on developing therapeutics for rare diseases, with two main candidates: setrusumab for osteogenesis imperfecta and alvelestat for severe Alpha-1 antitrypsin deficiency. The company aims to advance its drug pipeline with strategic partnerships and clinical studies.

Mereo BioPharma Group plc (NASDAQ: MREO) announced that CEO Dr. Denise Scots-Knight will participate in a fireside chat at the Jefferies London Healthcare Conference on November 15, 2022, at 12:55pm GMT / 07:55am ET. The event will include a live audio webcast available on the company's Investors page. Mereo focuses on innovative therapeutics for rare diseases and oncology, holding two rare disease candidates and two oncology candidates in clinical development, with significant partnerships and potential milestone payments totaling over $500 million.

Mereo BioPharma Group (NASDAQ: MREO) has received a notification from Nasdaq regarding its failure to maintain a minimum bid price of $1.00 for 30 consecutive business days. The company has until May 1, 2023, to regain compliance. If compliance is not achieved, an additional 180-day grace period may be requested. Despite the notification, Mereo's American Depositary Shares will continue trading as usual. The company monitors its ADS price closely, and the notification does not affect its ongoing business operations.

Mereo BioPharma Group plc (NASDAQ: MREO) announced the appointment of four new directors to its Board, following a cooperation agreement with its largest shareholder, Rubric Capital Management. The new directors include Dr. Annalisa Jenkins, Dr. Daniel Shames, Mr. Marc Yoskowitz, and Mr. Justin Roberts, replacing outgoing members. Rubric has also withdrawn its requisition notice for a General Meeting, indicating a standstill until Mereo’s 2024 Annual General Meeting. The Company aims to improve shareholder value by focusing on its rare disease programs, particularly setrusumab and alvelestat.

Mereo BioPharma Group (NASDAQ: MREO) announced a R&D update call on October 31, 2022, at 8:00 am ET, focusing on the alvelestat program for alpha-1-antitrypsin deficiency (AATD). This follows the Fast Track Designation received from the FDA on October 17, 2022. The call will include insights and a Q&A session featuring experts like Prof. Robert Stockley and Prof. Robert Sandhaus. Interested parties can register via a link provided, and the event will be accessible on Mereo's investor website.

Mereo BioPharma Group plc (NASDAQ: MREO) announced a shareholder meeting on November 18, 2022, to vote on resolutions proposed by Rubric Capital Management, which seeks to remove five incumbent directors. Mereo’s board has urged shareholders to vote against these resolutions, arguing that Rubric's nominees are underqualified and that their proposals could disrupt Mereo's strategy for developing potential life-changing therapies for rare diseases. Mereo emphasizes its commitment to maximizing shareholder value and executing its strategic plan.

Rubric Capital Management, an investment advisor owning approximately 14% of Mereo BioPharma Group plc (NASDAQ: MREO), commends the company for streamlining operations to extend its cash runway by two years. However, Mereo burnt approximately £9 million in cash in Q2, which is deemed unsustainable. Rubric emphasizes the need for active corporate governance and shareholder alignment to unlock further value, urging support for its slate of director nominees ahead of the general meeting.

Mereo BioPharma Group plc (NASDAQ: MREO) announced a revised operational plan aimed at enhancing its capital efficiency while prioritizing its promising programs. The company plans to reduce its workforce by up to 40% and cut other costs significantly, extending its cash runway into 2026. Mereo is focusing on its lead programs, including setrusumab for osteogenesis imperfecta and alvelestat, which recently received Fast Track designation from the FDA. The updated plan is designed to maximize shareholder value while retaining essential resources for ongoing projects.

Mereo BioPharma announced that the FDA has granted Fast Track designation for its investigational drug, alvelestat, aimed at treating AATD-associated lung disease. This designation recognizes alvelestat’s potential in addressing significant unmet medical needs. Mereo plans to discuss the design of a pivotal registration study in an upcoming End-of-Phase 2 meeting with the FDA. The company also reported positive data from the ASTRAEUS Phase 2 study and is studying alvelestat for other related conditions. An R&D update is scheduled for October 31, 2022.