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Thanks for your input. Some of the other bio’s like 4D Pharma have taken a massive hit too from the funds selling out.
I beleive this was one of Woodwards, as such has been sold down by
Invesco and link, not helpfull!
Morning All, I’m looking at adding more biotechs into my portfolio and came across MPH presentation from last month. I have to say I’m thoroughly impressed and can’t understand the valuation here. Are there any specific reasons for the slow decline in SP from 300p less than two years ago?
I agree as we already know:"Current activities on setrusumab for the potential treatment of OI are focussed on preparations for the Phase 3 pediatric trial, which the Company is intending to start in 2H 2020. The Company currently expects no change to this timeline. Mereo's Phase 2b ASTEROID study in OI is fully recruited with topline results previously announced in November 2019. Patients who enrolled in this study are in a one-year follow up post treatment extension phase."
As MPH's market cap is just (comparing to other biotech stocks) £26m when it starts kicking off it can be at a decent pace. Time to top up before H2.
this should start to pick up second half of year, about the only pharma
not to have multi bagged in recent weeks, but mention that covit word
and who knows!
After some research I'm in with a small amount (so far).
Thank you.
Mereo BioPharma Enters into a $5 Million Convertible Equity Financing with Novartis and Announces a Securities Purchase Agreement with Aspire Capital Fund, LLC for up to $28 Million
London and Redwood City, Calif., February 10, 2020 - Mereo BioPharma Group plc (NASDAQ: MREO, AIM: MPH), "Mereo" or the "Company," a clinical stage biopharmaceutical company focused on rare diseases, today announced that it has entered into a $5 million convertible equity financing with Novartis Pharma (AG) ("Novartis") and concurrently entered into a Securities Purchase Agreement to issue up to $28 million of the Company's ordinary shares exchangeable for American Depositary Shares ("ADSs"), including a $3 million initial purchase, with Aspire Capital Fund, LLC ("Aspire Capital"), a Chicago-based institutional investor. Proceeds from these transactions are intended to be used by Mereo for general corporate purposes, including clinical trial activity and working capital.
"These transactions provide us with an efficient and flexible source of capital as we continue to prepare for our upcoming Type B End-of-Phase 2 meeting with the FDA to discuss the positive data from our recently-completed Phase 2b ASTEROID study with setrusumab in adult patients with osteogenesis imperfecta ("OI"), as well as our proposed pivotal study design in pediatric OI patients. The EMA supports the initiation of the planned pivotal pediatric Phase 3 study in Europe on the basis of the previously approved pediatric investigational plan (PIP)," said Dr. Denise Scots-Knight, Chief Executive Officer of Mereo. "We are very pleased to have secured financing from both Novartis and Aspire, and we look forward to the continued advancement of our pipeline in 2020."
What is actual MPH's cash position? Honest information appreciated.
Slight movement already, could we see 24p today?
I don't know about the news coming but at least there are some trades that have made the price move up
Current activities on setrusumab for the potential treatment of OI are focussed on preparations for the Phase 3 pediatric trial, which the Company is intending to start in 2H 2020.
Totally agree. News will soon arrive and this will take off in a big way!
Groundhog Day again.
We seem to need a bit of news flow to get this moving. Otherwise, this company looks like it in a decent place financially and seems quite undervalued. IMHO
Any reason why they dont hold many shares ?
Trying to get a buy at a suitable price i feel a slow burner here but all will be rewarded with the pipeline
Some early interest in the shares, as the market in general, is UP
Mereo BioPharma Group already has institutions on the share registry. Indeed, they own 60% of the company. This implies the analysts working for those institutions have looked at the stock and they like it.
Hi guys, After a bit of research into promising pharma for the future thats not been hyped yet, I've taken a position here. Looks like a solid pipeline (phase2&3!) and a way to go to recover Dec share price on Nasdaq. With all the interest in pharma I can see MPH doing well. GLA
$1.50 / 5 x 0.8 exchange rate = 24p
Are you feeling alright? You said 1 ADS is 5 shares and I provided the RNS that confirms that. “Don’t trust, verify”.
Back to 21p in the morn sore one.??????
2019? Come on do better thAn that man
Correct. See RNS https://www.lse.co.uk/rns/MPH/mereo-biopharma-grp-completion-of-merger-6lrv77yiiw7hmg2.html
Nothing worse than rampers trying to liquify there mistakes.