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Other companies are conducting clinical trial similar to our drug BT 197 -Acumapimod for the treatment of Covid 19 patients. Possible treatment that may enter phase 3 clinical trial. Imho
Hoping to provide better therapies for patients with chronically debilitating and life-limiting rare diseases, Mereo Biopharma advances assets from other companies that were not progressed for strategic reasons to late-stage development. Based on its vast potential, some think that its $2.83 share price looks like a steal.
Cohen recently took the opportunity to get in on the action. Reflecting a new position, Point72 bought up 375,000 shares in Q2, with the value of the new holding landing at $1,148,000.
Writing for SVB Leerink, 5-star analyst Joseph Schwartz has high hopes for the company. Along with 2020 fundraising which removed the financial overhang and extended its cash runway into early 2022, he believes the news that etigilimab rejoined the development pipeline will “put this under-the-radar company on the map.”
Etigilimab, which was acquired during MREO's reverse merger with OncoMed back in April, generated encouraging results as both a monotherapy and combination in Phase 1a and Phase 1b, respectively. Based on this data, MREO moved the candidate into a larger Phase 1b trial, which is slated to kick off in Q4 2020. Due to recent developments with other anti-TIGIT programs, the company plans to evaluate multiple tumor types in the Phase 1b trial of etigilimab in combination with an anti-PD1/PDL1.
“We believe MREO’s more deliberate venture into oncology could pay off handsomely for the company: Not only can MREO leverage the previous work and expertise of OncoMed, but investors interested in anti-TIGIT assets could bring new eyes to MREO’s rare disease pipeline which we believe merits a deeper look by the Street,” Schwartz explained.
On top of this, MREO plans to initiate a Phase 3 pediatric study of lead asset setrusumab (anti-sclerostin) for osteogenesis imperfecta (OI) in 2H20, with COVID-19 not expected to cause any delays. Schwartz points out that MREO received positive feedback from a Type B End-of-Phase 2 meeting with the FDA, after encouraging data from setrusumab’s Phase 2b ASTEROID study in adults with OI was released. “While the Phase 3 pediatric study design had prior alignment from the EMA, last month’s announcement removed a significant unknown on the path towards a global pivotal trial for setrusumab,” the analyst noted.
To this end, Schwartz rates MREO an Outperform (i.e. Buy) along with an $8 price target. This target conveys his confidence in MREO’s ability to soar 182% higher in the next twelve months.
I think there is some news soon, p33 of presentation, https://www.mereobiopharma.com/media/1465/mereo-corporate-presentation-august-2020.pdf
Seem to have plenty of cash. Cash resources of £16.3 million as at December 31, 2019 (December 31, 2018 £27.5 million). Since the year end, Mereo has raised £60.8 million in Private Placements, £3.8 million from a convertible equity financing and £3.2 million from licensing.
Most people are probably chasing the Covid stocks.
I'm in for 20k shares
Just trying to gauge people's views with this firm. I have invested a small amount here recently looking at their product pipeline for the long term. But noted that it is really quiet with no recent posts, just a few trades, with price slowly drifting down, and spreads showing up at 10%..Is it a function of no news expected? Noted that the cost base is huge, but they do look to have quite a few products in the pipeline,so just trying to figure out why there is lack of interest here.
A restricted link unfortunately.
Bit of action pre market today - +10%, although I've given up trying call this one - just holding and hoping for a break out
Nolupus: I think I can better scarper! Only looked at MPH briefly and already the price has dropped nearly 5% !!! Not a good omen, mind you I'm getting very familiar with the colour red now! Definitely prefer blue.
Nolupus....is trading always this quiet on MPH? BTW I'm not stalking you just happen to be travelling in similar cirlcles!!! Waiting for IMM to run!!!
Great new appointments and sounds like they mean business!
GL.
Chief Executive Officer Denise Scots-Knight said: "We are very pleased with the substantial operational progress we have made throughout 2019 and, particularly, over the past several months."
2019 was a year during which Mereo completed an all-stock merger with OncoMed Pharmaceuticals Inc.
"Successful integration of OncoMed has allowed us to broaden our asset base and significantly strengthen our cash position, enabling us to progress beyond our key clinical milestones," Mereo said.
Large trades would suggest positions still being taken.
Once settled can see this moving up gradually with any good news sending this to £1+!
GL.
Scored will motor on now :-)
One of few companies that is undervalued. Mereo has 3 products that already passed phase2 and are phase 3 candidates. Imho, it’ s worth more than a billion pound.
Picked up some this morning, found it difficult to buy from 8.45am to 9.20am ish. But can buy and sell at 48p now.
Have been unable to buy anything over £500 worth all morning......
Scored,
Have to keep a close eye on Acacia , imo :-)
500k lots even thou there delayed buys last few days did not hit 43p .. AND a 25/50k buyer imo bottom has been hit
Not after cost savings myself just successful products.
Thought this good news all the same..
"Finally, we are now funded into early 2022 providing the Company sufficient balance sheet strength and runway to deliver on our clinical and business development milestones"
A lot to take in!
"We are very pleased with the substantial operational progress we have made throughout 2019 and particularly, over the past several months," said Dr. Denise Scots-Knight, Chief Executive Officer of Mereo. "We announced earlier this month that we have taken the strategic decision to focus on advancing etigilimab, (an "Anti-TIGIT") for the treatment of solid tumors, alongside our rare disease portfolio including setrusumab for osteogenesis imperfecta, which we plan to partner prior to the initiation of a pivotal Phase 3 study, and alvelestat for alpha-1 antitrypsin deficiency which is in an ongoing Phase 2 proof-of-concept study. Coupled with the completion of a $70 million financing earlier this month, we believe we are entering a transformational period for Mereo and are extremely well positioned to execute on our strategy."
But they are nearing the end game for at least one of their candidates this year!
Mereo BioPharma is a biopharmaceutical company focused on the development and commercialization of innovative therapeutics that aim to improve outcomes for patients with oncology and rare diseases. Mereo's strategy is to selectively acquire product candidates for oncology and rare diseases that have already received significant investment from pharmaceutical and large biotechnology companies and that have substantial preclinical, clinical and manufacturing data packages. Mereo's lead oncology product candidate, etigilimab, an anti-TIGIT, has completed a Phase 1a and Phase 1b for a range of solid tumor types and the second product candidate, navicixizumab, for ovarian cancer has been licensed to Oncologie Inc. for up to $300M in milestone payments. Mereo's lead rare disease product candidate, setrusumab, has completed a Phase 2b dose-ranging study in adults with osteogenesis imperfecta ("OI") and a pivotal Phase 3 study design in paediatrics has been agreed with the FDA and EMA. Mereo's second lead product candidate, alvelestat, is being investigated in a Phase 2 proof-of-concept clinical trial in patients with alpha-1 antitrypsin deficiency ("AATD"). Mereo plans to form a strategic partnership for setrusumab prior to initiation of the paediatric pivotal study.
GL.
or 39p per share well great things going for it but imo to many chiefs -- Always said cash burn here is terrible need to cut costs . DONT get me wrong mereo owes me nothing but i want cost saving
Mereo has 3 candidates for phase 3
Imho, each product Is potentially
valued £1 billion x 3= £3 billion
50% discount. The value of this company should be at least
£1.5 billion. DYOR
On a day like today that is great!
How far will it go after the SVB report!
GL.
Thanks for the correction!