Mereo gains on U.S. FDA's 'fast track' tag for genetic disorder treatment

Mereo BioPharma

17/10/2022 12:22

** Shares of Mereo Biopharma  MREO.O  up 12% at $1.01 before
the bell 
    ** Co says U.S. Food and Drug Administration has granted 
"fast track" status for its experimental oral drug, alvelestat,
to treat alpha-1 antitrypsin deficiency (AATD) associated lung
disease  urn:newsml:reuters.com:*:nGNX6JfT6Y
    ** AATD is an inherited disease that causes an increased
risk of inflammation of blood vessels, and can cause lung and
liver disease
    ** FDA's fast track tag facilitates development and
expedites the review of therapies which have potential to treat
serious conditions with unmet medical needs
    ** MREO plans to meet with the FDA to discuss the design of
further studies for alvelestat, including the potential
opportunity for an accelerated approval pathway
    ** Co plans to provide a development update on alvelestat on
Oct. 31
    ** As of last close, MREO down ~38% YTD 
 (Reporting by Bhanvi Satija in Bengaluru)
 ((Bhanvi.Satija@thomsonreuters.com; Outside U.S. +91
9873062788;))