Reneo Pharmaceuticals Stock Price, News & Analysis
Company Description
Reneo Pharmaceuticals, Inc. (Nasdaq: RPHM) historically represented a pharmaceutical company focused on the development and commercialization of therapies for patients with rare genetic mitochondrial diseases. These disorders are often associated with the inability of mitochondria to produce adenosine triphosphate (ATP), the primary energy source for cells. Over time, Reneo evolved from a clinical-stage organization advancing a lead candidate to a vehicle for a strategic transaction that combined its public listing and cash resources with a precision oncology pipeline.
According to company disclosures, Reneo’s work centered on rare genetic mitochondrial diseases, including primary mitochondrial myopathies (PMM). PMM are described as a group of rare, genetic metabolic disorders caused by mutations or deletions in mitochondrial DNA (mtDNA) or nuclear DNA (nDNA). These genetic alterations hamper the ability of mitochondria to generate energy from nutrient sources, resulting in energy deficits that are most pronounced in tissues with high energy demand such as muscle, brain, and heart. Symptoms can include muscle weakness, exercise intolerance, movement disorders, deafness, blindness, and droopy eyelids, with prognoses ranging from progressive weakness to death.
Reneo’s historical development activities included mavodelpar (REN001), described in company materials as a potent and selective peroxisome proliferator-activated receptor delta (PPARδ) agonist. It was studied in rare genetic mitochondrial diseases that typically present with myopathy and high unmet medical need, such as PMM and long-chain fatty acid oxidation disorder. Reneo reported that mavodelpar had been shown to increase transcription of genes involved in mitochondrial function, increase fatty acid oxidation, and potentially increase production of new mitochondria. The company conducted the pivotal STRIDE study, a global, randomized, double-blind, placebo-controlled Phase 2b trial in adult patients with PMM due to mtDNA defects, and the STRIDE AHEAD open-label extension study.
In December 2023, Reneo announced that the pivotal STRIDE study of mavodelpar in adult patients with PMM did not meet its primary or secondary efficacy endpoints. Following these results, Reneo disclosed that it would suspend all mavodelpar development activities and implement significant cost savings initiatives, including a substantial workforce reduction. The company subsequently retained an independent financial advisor to initiate a formal process to evaluate potential strategic alternatives.
That strategic review led to a proposed merger with OnKure, Inc., a privately held, clinical-stage biopharmaceutical company focused on the discovery and development of precision medicines in oncology. In May 2024, Reneo and OnKure announced a definitive merger agreement to combine the companies in an all-stock transaction. The combined company was expected to focus on advancing OnKure’s pipeline candidates targeting oncogenic mutations in phosphoinositide 3-kinase alpha (PI3Kα), including its lead program OKI-219, a selective PI3KαH1047R inhibitor then in a Phase 1 clinical trial for the treatment of solid tumors.
Subsequent Reneo announcements described the transaction structure and shareholder approvals. In August 2024 communications, Reneo reiterated that it was historically focused on therapies for rare genetic mitochondrial diseases and emphasized that the merger was intended to create a Nasdaq-listed, clinical-stage biopharmaceutical company centered on precision oncology. In October 2024, OnKure Therapeutics, Inc. announced the closing of the merger between OnKure, Inc. and Reneo Pharmaceuticals, Inc. The combined company would operate under the name OnKure Therapeutics, Inc., and its shares were expected to begin trading on the Nasdaq Global Market under the ticker symbol “OKUR.”
Post-merger, public filings identify OnKure Therapeutics, Inc. as the reporting company, with references to Reneo Pharmaceuticals as a former name. For investors researching the RPHM symbol, this means that RPHM represents the historical listing for Reneo Pharmaceuticals prior to the completion of the merger and subsequent name and ticker change to OnKure Therapeutics, Inc. (OKUR). The current operating business associated with the successor entity is focused on precision oncology, while RPHM provides historical context on Reneo’s prior mitochondrial disease–focused activities and the corporate steps that led to the combination with OnKure.
Business focus before the merger
Before the merger, Reneo described itself as a clinical-stage or pharmaceutical company focused on rare genetic mitochondrial diseases. Its disclosures emphasized the role of mitochondria in cellular energy production and the impact of mitochondrial dysfunction on high-energy-demand tissues. The company’s development programs were built around targeting mitochondrial bioenergetics, with mavodelpar as its lead product candidate. Reneo’s communications highlighted the scientific rationale for PPARδ activation, including increased transcription of genes involved in mitochondrial function and fatty acid oxidation.
Reneo’s clinical program included the STRIDE study and the STRIDE AHEAD open-label extension. STRIDE was designed to assess efficacy and safety in PMM due to mtDNA defects using endpoints such as the 12-minute walk test and patient-reported outcomes. STRIDE AHEAD was designed to evaluate long-term safety and tolerability and was amended to allow enrollment of treatment-naïve patients with PMM due to nDNA defects. After the STRIDE study failed to meet its primary and secondary endpoints, Reneo announced suspension of all mavodelpar development activities and workforce reductions as part of cost-preservation efforts.
Transformation through merger with OnKure
The strategic merger with OnKure marked a significant transformation in the business associated with the RPHM listing. Company announcements describe OnKure as a clinical-stage biopharmaceutical company focused on the discovery and development of precision medicines targeting biologically validated drivers of cancers that are underserved by available therapies. Using a structure-based drug design platform, OnKure is described as building a pipeline of tumor-agnostic candidates designed to achieve efficacy and tolerability.
OnKure’s lead program, OKI-219, is characterized as an orally bioavailable, highly selective inhibitor of PI3KαH1047R, a common oncogenic mutation in PI3Kα. Company materials note that PI3Kα is the most frequently mutated oncogene in cancers and that PI3KαH1047R is the most common mutation in this gene. OnKure states that its portfolio of highly mutant-selective PI3Kα inhibitors is intended to fully inhibit the mutant oncogene while sparing the wild-type enzyme in normal tissues. OKI-219 is being evaluated in a Phase 1 clinical trial (the PIKture-01 trial) in solid tumor patients with PI3KαH1047R mutations, including breast cancer.
Following shareholder approvals and closing conditions, Reneo disclosed that, upon completion of the merger, the combined company would operate under the name OnKure Therapeutics, Inc. and trade on the Nasdaq Global Market under the ticker symbol OKUR. The combined company’s leadership and board composition were outlined in transaction announcements, with the management team drawn primarily from OnKure and selected board members from both legacy companies.
What the RPHM symbol represents now
For Stock Titan users, the RPHM overview page documents the historical Reneo Pharmaceuticals entity and the corporate events that led to its combination with OnKure. RPHM is no longer the active trading symbol for the combined company, which is expected to trade under OKUR on Nasdaq. Instead, RPHM serves as a historical reference for:
- Reneo’s prior focus on therapies for rare genetic mitochondrial diseases and its clinical work around mavodelpar.
- The outcome of the STRIDE and STRIDE AHEAD programs and the subsequent suspension of mavodelpar development.
- The strategic review process that culminated in the definitive merger agreement with OnKure.
- The transition from a mitochondrial disease–focused pharmaceutical company to a precision oncology–focused biopharmaceutical company under the OnKure Therapeutics, Inc. name and OKUR ticker.
Investors analyzing the history of the combined company may review RPHM-era disclosures to understand the legacy cash position, prior research focus, and rationale for the merger. For current information about the operating business and its oncology pipeline, users should look to filings and disclosures under the OnKure Therapeutics, Inc. name and the OKUR ticker, as indicated in the company’s own merger and post-merger announcements.