Mereo BioPharma rises on positive FDA meeting for lung disease drug

Mereo BioPharma

21/03/2023 12:01

** U.S.-listed shares of UK-based drug developer Mereo
BioPharma Group plc  MREO.O  rise 15.5% to $0.85 premarket   
    ** Co says it has met with U.S. Food and Drug Administration
(FDA) and European Medicines Agency (EMA) to discuss development
of its experimental drug to treat a type of genetic lung disease
 
    ** Says it is designing late-stage study with two
independent main goals as per FDA and EMA guidance 
    ** MREO also looking for potential partnerships to fund
late-stage study 
    ** If successful, study expected to support full regulatory
approvals in both U.S. and EU without additional confirmatory
trial - MREO 
    ** Drug candidate alvelestat being tested to treat
alpha-1-antitrypsin deficiency-associated lung disease (AATD-LD)
    ** AATD-LD caused by deficiency of protein called
alpha-1-antitrypsin, which protects lungs against damaging
enzymes that the body releases during inflammation    
    ** As of last close, stock down ~26% so far this year

 (Reporting by Mariam Sunny)
 ((Mariam.ESunny@thomsonreuters.com;))