Additional ASTEROID data supports progression
Lighthouse | 15 January 2020
Trinity Delta view: Setrusumab, previously known as BPS-804, is the largest element in our valuation of Mereo BioPharma; amounting to £389m or $299m, equivalent to 305p per share or $15.26/ADS (see our recent Outlook note for further details). These encouraging data support our positive stance and help underline the inherent value within the company. The strategy is to develop a portfolio of innovative rare disease products. We believe management is actively progressing further partnering discussions that will provide near-term funding, yet still retain a sizeable element of longer-term commercial upside.
We maintain our valuation of Mereo BioPharma at £442m ($574m), equivalent to 412p/share or $20.60/ADS (fully diluted).
15 January 2020
|Price (UK share)|
Mereo BioPharma develops and commercialises innovative therapeutics addressing rare and specialty diseases. These are acquired or licensed in at clinical stages from large pharmaceutical companies. The portfolio consists of four compounds that are progressing through late clinical development.
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