MREO - Mereo BioPharma to shed 40% of workforce as part of cost-cutting plan
- Mereo BioPharma ( NASDAQ: MREO ) will eliminate 40% of its workforce and embark on other cost-cutting measures in a move to extend its cash runway to 2026.
- The company said it is aiming to focus resources on its two lead programs, setrusumab and alvestat. The former is in phase 2/3 for Osteogenesis Imperfecta, while the latter is in phase 2 for Alpha-1 Antitrypsin Deficiency-associated lung disease.
- Alvestat was just granted US FDA Fast Track designation on Monday .
- Mereo ( MREO ) is partnered with Ultragenyx Pharmaceutical ( RARE ) on setrusumab, which has initiated a phase 2/3 pediatric study in young adults (5-25 years old). Ultragenyx ( RARE ) expects to begin a study in pediatric patients (2-<5 years old) in the 1H 2023.
- Read why Seeking Alpha contributor Dalius Taurus is bullish on Mereo ( MREO ).
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Mereo BioPharma to shed 40% of workforce as part of cost-cutting plan