Mereo On The Move With Strong COPD Data And US Listing Plan
The UK firm, boosted by promising data for acumapimod for acute exacerbations of COPD, is seeking to conduct an initial public offering in the US.
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The London-headquartered firm believes that its efficient control of costs and strong data in support of its investigational treatments for rare respiratory, bone and endocrine diseases will attract investors across the Atlantic once it decides to refile for a listing on the Nasdaq.
Mereo BioPharma has withdrawn its Nasdaq public offering, which had a target of raising $80m, because of ‘challenging and volatile’ market conditions in the US.
Offerings by Homology, Unum and Genprex at the end of March brought the first quarter's biopharma IPO total to 14 in the US, putting 2018 on track to beat the 2017 total of 42. But with the average return for this year's IPOs dropping, the pace of offerings could slow.