Breaking News Instant updates and real-time market news.

MREO

Mereo BioPharma

$2.08

-0.19 (-8.37%)

07:41
01/13/20
01/13
07:41
01/13/20
07:41

Mereo BioPharma, Oncologie enter licensing agreement for Navicixizumab

Mereo BioPharma Group and Oncologie announced a global license agreement for the development and commercialization of navicixizumab, an anti-DLL4/VEGF bispecific antibody currently being evaluated in an ongoing Phase 1b study in combination with paclitaxel in patients with advanced heavily pretreated ovarian cancer. Navicixizumab previously completed a Phase 1a monotherapy study in patients with various types of refractory solid tumors and is one of two product candidates Mereo acquired through its 2019 merger with OncoMed Pharmaceuticals, Inc. In October 2019, the U.S. Food and Drug Administration granted Fast Track designation to navicixizumab and has agreed in principle on the design of a study that could potentially support accelerated approval for navicixizumab in a heavily pretreated, platinum-resistant ovarian cancer patient population. Under the terms of the License Agreement, Oncologie will receive an exclusive worldwide license to develop and commercialize navicixizumab. Mereo will receive an upfront payment of $4 million with an additional payment of $2 million conditional on a CMC milestone. Oncologie will be responsible for all future research, development and commercialization of navicixizumab. Additionally, Mereo will be eligible to receive up to $300 million in future clinical, regulatory and commercial milestones, tiered royalties ranging from the mid-single-digit to sub-teen percentages on global annual net sales of navicixizumab, as well as a negotiated percentage of sublicensing revenues from certain sublicensees. As a consequence of the License Agreement with Oncologie, and in accordance with the terms and conditions of the Contingent Value Rights Agreement for former stockholders of OncoMed Pharmaceuticals, dated April 23, 2019, by and among Mereo and Computershare Inc., as rights agent, holders of contingent value rights pursuant to the Mereo CVR Agreement will be entitled to receive certain eligible cash milestone payments made to Mereo under the License Agreement relating to navicixizumab. Details of the amount payable to holders of CVRs from the upfront payment will be announced within thirty days of the effective date of the License Agreement. Pursuant to the terms of the Mereo CVR Agreement, if a milestone occurs prior to the fifth anniversary of the closing of Mereo's merger with OncoMed, then holders of CVRs will be entitled to receive an amount in cash equal to 70% of the aggregate principal amount received by Mereo after deduction of costs, charges and expenditures set out in detail in the Mereo CVR Agreement. Such milestone payments are also subject to a cash consideration cap, pursuant to which the aggregate principal amount of all cash payments made to holders of CVRs under the Mereo CVR Agreement shall in no case exceed $79.7 million.

MREO Mereo BioPharma
$2.08

-0.19 (-8.37%)

10/10/19
LEER
10/10/19
INITIATION
Target $8
LEER
Outperform
Mereo BioPharma initiated with an Outperform rating at SVB Leerink
SVB Leerink analyst Joseph Schwartz initiated coverage of Mereo BioPharma with an Outperform rating and $8 price target. The analyst expects Mereo's two late-stage assets, setrusumab and alvelestat, will gain investor interest from near-term data readouts. Schwartz expects Phase 2B Asteroid data in Q4 and Phase 2 Astreaus data in mid-2020 to serve as catalysts and drive value creation.
10/10/19
10/10/19
INITIATION

Fly Intel: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. DIRTT Environmental (DRTT) initiated with a Buy at Craig-Hallum. 2. Blue Bird (BLBD) resumed with a Buy at Roth Capital. 3. USA Technologies (USAT) reinstated with a Buy at Craig-Hallum. 4. Mereo BioPharma (MREO) initiated with an Outperform rating at SVB Leerink. 5. BioCardia (BCDA) initiated with a Buy, $9 price target at Maxim. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.

TODAY'S FREE FLY STORIES

BA

Boeing

$324.11

-7.89 (-2.38%)

14:08
01/20/20
01/20
14:08
01/20/20
14:08
Periodicals
Boeing close to securing $10B loan, Bloomberg reports »

Boeing is close to…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 29

    Jan

CAE

CAE

$29.65

-0.14 (-0.47%)

14:05
01/20/20
01/20
14:05
01/20/20
14:05
Hot Stocks
CAE appoints Todd Probert as Group President, Defense & Security »

CAE announced the…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 07

    Feb

ACC

American Campus

$46.31

-0.085 (-0.18%)

14:03
01/20/20
01/20
14:03
01/20/20
14:03
Recommendations
American Campus analyst commentary  »

American Campus announces…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 19

    Feb

UPS

UPS

$118.61

0.005 (0.00%)

14:02
01/20/20
01/20
14:02
01/20/20
14:02
Hot Stocks
UPS launches e-commerce plug-ins as part of UPS Digital Access Program »

UPS announced that it is…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 30

    Jan

WINS

Wins Finance

$12.50

-1.2 (-8.76%)

13:58
01/20/20
01/20
13:58
01/20/20
13:58
Hot Stocks
Wins Finance announces submission of compliance plan to Nasdaq »

Wins Finance announced…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

MSFT

Microsoft

$167.06

0.82 (0.49%)

13:55
01/20/20
01/20
13:55
01/20/20
13:55
Recommendations
Microsoft price target raised to $175 from $160 at Stifel »

Stifel analyst Brad…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 29

    Jan

  • 25

    Feb

SFTBY

SoftBank

$0.00

(0.00%)

, SFTBF

SoftBank

$0.00

(0.00%)

13:52
01/20/20
01/20
13:52
01/20/20
13:52
Periodicals
Softbank says WeWork still good business at core, Bloomberg reports »

SoftBank (SFTBY;SFTBF)…

SFTBY

SoftBank

$0.00

(0.00%)

SFTBF

SoftBank

$0.00

(0.00%)

WE

We Company

$0.00

(0.00%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 12

    Feb

EGLE

Eagle Bulk Shipping

$4.25

-0.03 (-0.70%)

13:40
01/20/20
01/20
13:40
01/20/20
13:40
Conference/Events
Eagle Bulk Shipping to host conference call »

Management discusses…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 16

    Feb

SMUUY

Siam Commercial Bank

$0.00

(0.00%)

13:39
01/20/20
01/20
13:39
01/20/20
13:39
Downgrade
Siam Commercial Bank rating change  »

Siam Commercial Bank…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

SMUUY

Siam Commercial Bank

$0.00

(0.00%)

13:38
01/20/20
01/20
13:38
01/20/20
13:38
Downgrade
Siam Commercial Bank rating change  »

Siam Commercial…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

SMUUY

Siam Commercial Bank

$0.00

(0.00%)

13:37
01/20/20
01/20
13:37
01/20/20
13:37
Downgrade
Siam Commercial Bank rating change  »

Siam Commercial Bank…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

SMUUY

Siam Commercial Bank

$0.00

(0.00%)

13:37
01/20/20
01/20
13:37
01/20/20
13:37
Downgrade
Siam Commercial Bank rating change  »

Siam Commercial Bank…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

CNVVY

ConvaTec

$0.00

(0.00%)

13:35
01/20/20
01/20
13:35
01/20/20
13:35
Downgrade
ConvaTec rating change  »

ConvaTec downgraded to…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

13:35
01/20/20
01/20
13:35
01/20/20
13:35
General news
FX Summary: Activity was moribund »

FX Summary: Activity was…

KSU

Kansas City Southern

$166.57

4.77 (2.95%)

13:31
01/20/20
01/20
13:31
01/20/20
13:31
Recommendations
Kansas City Southern analyst commentary  »

Kansas City Southern…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

CRM

Salesforce

$182.16

-0.53 (-0.29%)

13:06
01/20/20
01/20
13:06
01/20/20
13:06
Recommendations
BMO keeps 'top pick' status on Salesforce, boosts price target to $210 »

BMO Capital analyst Keith…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 16

    Mar

SNYYF

Sany Heavy

$0.00

(0.00%)

12:56
01/20/20
01/20
12:56
01/20/20
12:56
Upgrade
Sany Heavy rating change at Goldman Sachs »

Sany Heavy upgraded to…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

ATDRY

Auto Trader Group

$0.00

(0.00%)

12:52
01/20/20
01/20
12:52
01/20/20
12:52
Upgrade
Auto Trader Group rating change at Goldman Sachs »

Auto Trader Group…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

AIOSF

Atresmedia

$0.00

(0.00%)

12:50
01/20/20
01/20
12:50
01/20/20
12:50
Downgrade
Atresmedia rating change at Goldman Sachs »

Atresmedia downgraded to…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

LGDDF

Lagardere

$0.00

(0.00%)

12:48
01/20/20
01/20
12:48
01/20/20
12:48
Downgrade
Lagardere rating change at Goldman Sachs »

Lagardere downgraded to…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

WPP

WPP

$66.38

-0.34 (-0.51%)

12:47
01/20/20
01/20
12:47
01/20/20
12:47
Downgrade
WPP rating change at Goldman Sachs »

WPP downgraded to Neutral…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

WTKWY

Wolters Kluwer

$0.00

(0.00%)

12:46
01/20/20
01/20
12:46
01/20/20
12:46
Downgrade
Wolters Kluwer rating change at Goldman Sachs »

Wolters Kluwer downgraded…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

CIOXY

Cielo

$0.00

(0.00%)

12:43
01/20/20
01/20
12:43
01/20/20
12:43
Downgrade
Cielo rating change at Goldman Sachs »

Cielo downgraded to Sell…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 28

    Jan

10:35
01/20/20
01/20
10:35
01/20/20
10:35
General news
Taking an "irrationally bullish" view of U.S. and global stock markets »

Taking an…

09:30
01/20/20
01/20
09:30
01/20/20
09:30
General news
Oil Action: Front-month WTI futures are up 0.7% »

Oil Action: Front-month…

Get Full Fly Access

Breaking market intelligence sent straight to you
Our team of experts analyze every news story and filter out the noise to deliver real-time market moving news.
Up-to-date information on important industry events
Get real-time updates on events that are moving the market—from conferences and calls to syndicate announcements.
News focused on the companies in your portfolio
Create up to 12 portfolios with 150 stocks each, and see how active they are in market news.