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MREO - Mereo BioPharma: Activist Pressure In A Net-Net Biopharma
Mereo BioPharma Group
Mereo BioPharma Group plc is a London-based clinical-stage biopharma trading at a slight discount to net cash.
Recently, one of the company’s largest investors, Rubric Capital Management (14% stake), wrote a letter to the board urging them to explore strategic alternatives.
Rubric Capital is estimating that the implied value of MREO today is $4 per ADS.