Mereo BioPharma: Underappreciated but not unloved
Mereo BioPharma is developing a portfolio of rare disease therapies that have been sourced from larger drug players. An appropriate selection of these will be retained for self-commercialisation. The longer-term goal is the creation of a self-sustaining speciality pharmaceutical company that addresses Orphan and rare diseases. In the near term these clinical assets are progressed to value-inflection points and then partners are sought. The partnering deals will likely be structured to provide funding for the continuing development operations, yet retaining a sizeable element of longer-term upside. The company has a cash runway extending to mid-2020. We have updated our rNPV model to 412p/share or $20.60/ADS (fully diluted).Mereo Biopharma Group is engaged in the research and development of novel biopharmaceuticals for the treatment of rare and specialty diseases. Co. operates through three segment which are the respiratory unit, endocrinology disorders unit, orphan diseases unit. Respiratory unit develops drugs to treat respiratory diseases. Endocrinology disorders unit develops drugs to treat endocrine disorders. Orphan diseases unit develops drugs to treat various orphan diseases. Co. has two products which called BPS-804 and BGS-649.
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