Mereo BioPharma gains on positive data from genetic disorder drug trial

Mereo BioPharma

05/06/2023 23:03

** U.S.-listed shares of drug developer Mereo BioPharma
Group  MREO.O  rise 10.5% in extended trade 
    ** Co and partner Ultragenyx Pharmaceutical  RARE.O  say
their experimental monoclonal antibody drug showed increase in
levels of an indicator of bone formation for treating a type of
genetic disorder in a portion of its trial
    ** Patients taking the drug, setrusumab, also showed a
"substantial and significant improvement" in bone mineral
density by three months - companies 
    ** Setrusumab is being tested in a mid-to late-stage trial
in pediatric and young adult patients with osteogenesis
imperfecta, a disease in which bones fracture easily  
    ** As of last close, U.S.-listed MREO shares up 40% YTD

 (Reporting by Raghav Mahobe)
 ((Raghav.Mahobe@thomsonreuters.com;))