Why Is Mereo BioPharma Stock Trading Higher Today?
Portfolio Pulse from Vandana Singh
Ultragenyx Pharmaceutical Inc (NASDAQ:RARE) and Mereo BioPharma Group plc (NASDAQ:MREO) released interim data from the Phase 2 portion of the Phase 2/3 Orbit study of setrusumab. The data showed that setrusumab significantly reduced the incidence of fractures in patients with osteogenesis imperfecta. The annualized fracture rate across all 24 patients in the study was reduced by 67%. Following the news, MREO shares are up 31.78% at $1.70, and RARE shares are up 13.26% at $38.02.
October 16, 2023 | 6:31 pm
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POSITIVE IMPACT
Mereo BioPharma's stock is trading higher due to positive interim data from the Phase 2 study of setrusumab.
The positive interim data from the Phase 2 study of setrusumab, a drug being developed by Mereo BioPharma, has led to a surge in the company's stock price. This is because the data indicates that the drug could be effective in reducing the incidence of fractures in patients with osteogenesis imperfecta, which could potentially lead to increased sales and revenue for the company.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Ultragenyx Pharmaceutical's stock is trading higher due to positive interim data from the Phase 2 study of setrusumab.
The positive interim data from the Phase 2 study of setrusumab, a drug being developed in collaboration with Mereo BioPharma, has led to a surge in Ultragenyx Pharmaceutical's stock price. This is because the data indicates that the drug could be effective in reducing the incidence of fractures in patients with osteogenesis imperfecta, which could potentially lead to increased sales and revenue for the company.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100