Mereo Biopharma gains on cooperation agreement with largest shareholder

Mereo BioPharma

28/10/2022 13:35

** U.S.-listed shares of Mereo Biopharma  MREO.O  up ~3% at
$1.02 before the bell 
    ** MREO says entered into a cooperation agreement with its
largest shareholder, Rubric Capital Management LP  urn:newsml:reuters.com:*:nGNX3JBlGK 
    ** Under agreement, MREO appoints four of five directors
nominated by investment firm Rubric to its board, effective
immediately  
    ** Rubric will withdraw its request to hold a General and
related proposals, says MREO 
    ** Co adds that Rubric has also agreed to a standstill
provision through 2024 annual shareholder meeting 
    ** As of last close, MREO down ~38% YTD 
 (Reporting by Bhanvi Satija in Bengaluru)
 ((Bhanvi.Satija@thomsonreuters.com; Outside U.S. +91
9873062788;))