Ted Karidis
@TedKaridis
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Trader - Due your Due Diligence Tweets NOT Investment Advice
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$MREO Eric Crombez, M.D., Chief Medical Officer
When talking about Setrusumab and path forward.
23:50 or so
" I have trained as a bio chemist, I have never this type of clarity in signals" (in regards to EFFICACY)..
He also hints there are no fractures after time on Setru as
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$MREO - Adage Capital Partners with a 7% stake. 10m shares or so...Filed today. That's who has been buying...
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$MREO - Comp Model Updated. Revised Alvelestat valuation upwards to $850MM from $200MM.
-Target now goes to $15 from $10.
-My value may still be conservative relative to $INBX sale of 101 AATD program for $1.7B as Alvelestat is already in P3.
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$MREO - Just putting out the pipeline comps once again for all you new guys recommended by
@Pharmdca
&
@Andre_AGTC
. Never get tired of looking at this and how undervalued this pipeline is. Due your due diligence and good luck..
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$MREO - This needs to sink in here on how good Setrusumab is. 20 of 24 patients no fractures after 6 months and one of 1st patients on Setru walking after 17 months and likely update coming as he will be on Setru almost 2 years soon. Will be SOC in OI....
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$MREO - Rubric added again. WOW. This is the 5th 13D/A Filing in two weeks...I have never seen back to back filings like this before. Another 352K shares @ $2.05 - 13.88% holder now. Expecting nothing short of fireworks. Its pretty clear some type of news is gonna come sooner or
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$MREO OK, no reason this stock is below $7 tomorrow. SETRUSUMAB will be SOC. ALVELESTAT will be monetized. $25 target for 2025.. Analyst models need to be updated. Their targets are ridiculously low and should be over $10+ as of tomorrow..This is a $RARE bump. DSK needs to bring
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$MREO : Setrusumab will be Standard of Care. Will own the OI market. Cantor has penetration at 35%. I say over 50% and likely closer to 70% of market of the 60,000 patients. NOTHING COMPARES IN OI.
-KEY MOA: Osteoblasts become Osteocytes (bone forming)
-This type of dominance in
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$MREO: From the Cantor OI call:
$RARE intends to submit a "Late Breaker" presentation to the ASBMR 2024 Annual Meeting. Reading between the lines: By late breaker, $RARE CMO means something that will blow away all expectations for OI.
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$MREO - Revisited Rubric's model from last year and made some new assumptions as data has come out. I assign a value closer to $9.00. Take a look. I think this is more realistic given the current status of the pipeline given that Rubric is totally silent now. Not sure how their
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$MREO - $RARE having a fireside chat on Monday at Cowen HC Conference. Link below...👍👍
Ultragenyx Pharmaceutical Inc.
Presenting at: 3/4/2024 9:10 AM (ET)
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$MREO - Rubric took over board last year and placed Dr. Annalisa Jenkins on Board who happened to SELL here company to $RARE... MREO is next....Why else bring her in? She knows the logistics of selling to Ultragenyx. Thats how I see it......"Dr. Jenkins served as president and
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$MREO - I'll go out on a limb here. The stock will trade higher but there will be No Deal less than $7.50 a share for $MREO. Recent news is just too positive for anything less...HC bankers should be able to get it done..Staking my reputation on it.
There you go. Good luck...
$MREO - Revisited Rubric's model from last year and made some new assumptions as data has come out. I assign a value closer to $9.00. Take a look. I think this is more realistic given the current status of the pipeline given that Rubric is totally silent now. Not sure how their
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$MREO - Even at $12.00 or $1.7B, the company is cheap relative to rare disease buyouts. The table below highlights some recent rare disease takeouts. We have TWO (2) Billion $$ drugs in pipeline.
Clementia Pharma was closely similar to Mereo as they too had a bone drug like
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$MREO This $INBX acquisition of their AATD program for $1.7B was the ultimate slap in the face for Mereo shareholders. NASH news lifts all NASH stocks. Obesity news lifts all Obesity stocks. Hep C news years ago lifted even the worst companies. Here we have a deal that is 4X
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$MREO - Updated Model: $17 makes sense
-$RARE Setrusumab progress increases value of EU/UK right to $500m from $250m (Only Revision)
-Alvelestat (remains at $850M based on $INBX deal
- Based on TAM for each, Alvelestat might be more valuable than Setrusumab program garnering
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$MREO - I stand by this price with a deal or no deal. This stock will see $7.50 soon...A Setrusumab approval will make Mereo too expensive in 12-24 months.
$MREO - I'll go out on a limb here. The stock will trade higher but there will be No Deal less than $7.50 a share for $MREO. Recent news is just too positive for anything less...HC bankers should be able to get it done..Staking my reputation on it.
There you go. Good luck...
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$MREO - Management needs to update Investors. A REAL UPDATE. Its been a while since we have been updated on the rest of pipeline while Alvelestat sits on the shelf as we await news. $RARE likely to update on Setrusumab hopefully before April.
Management here just a little too
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$MREO - Cantor models target of $7
-Updates from $AMGN - No OI threat
-NO mention of Alvelestat value
-My model still at $17 including Alvelestat
- So $AMGN Romosozumab is not going into OI. Amgen didn't discuss on rare disease update but we all knew that a few months ago.
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$MREO - TIGIT is alive... $GILD $RCUS
-Gilead and Arcus Announce Amended Collaboration and Equity Investment. Investment Reinforces Companies’ Conviction in TIGIT Pathway and Provides Opportunity to Accelerate the Anti-TIGIT Program –– Additional Equity Investment of $320M,
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$MREO - Is it me or does this AATD Alvelestat Phase 3 design look easier to snag FDA "Full Approval" than a Micheal Jordan layup. Anyone with expertise please chime in.
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$MREO - Speculation on my part but expecting news of a takeover. Nothing can explain the price action here except a buyout....Good Luck.. Rare disease takeout of $1.7B + still looks cheap.
$MREO - Even at $12.00 or $1.7B, the company is cheap relative to rare disease buyouts. The table below highlights some recent rare disease takeouts. We have TWO (2) Billion $$ drugs in pipeline.
Clementia Pharma was closely similar to Mereo as they too had a bone drug like
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$MREO - COPD market is big. Alvelestat fits right in here which is why $AZN needs Mereo. $114B according to Stifel chart below so you decide what they need to do...
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$MREO : $IMGN $10B acquisition by $ABBV is about pipeline. I keep saying this. Congrats to longs as it has been a long road to finally get a deal done. This puts Mereo closer to $8-10 (given current stage of pipeline)
$RARE - Needs FULL control of Setrusumab. They will NOT want
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$MREO - I reiterate my $17 target model but stock should be $5+ on this news from 3 conference presentations. Stock should not be at $3.20 or $400m EV (probably $50m in cash at YE & $245m milestones coming next year from Ultragenyx.
- $RARE CEO confirmed Setru will likely be SOC.
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$MREO Just waiting for that all important HALT intra-day headline: "News Pending"
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$MREO - For those out there that keep saying we need to trade up to $6-$8 to get a nice premium if we in fact we get acquired. NO WE DON'T.
-This stock should already be at $8.00 so if would not be out of the norm to get a $12+offer (200% premium)... It happens and it has
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$MREO - 90% reduction of NE in AATD. Pretty sure $INBX 101 is not at that level plus Alvelestat is Oral dosing vs Infusion... Lets the bids come in.....
$MREO - As
@PersimmonTI
states below, Alvelestat and $INBX 's 101 drug both aim to slow down NE (Neutrophil Elastase). Unlike 101, Alvel skips the step of introducing engineered AAT molecule and targets a direct inhibition of NE.
-Recent slides state 90% suppression of NE at
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$MREO didn't need to raise funds..my guess is that with Setrusumab moving fast and likely getting the green light from FDA early (possibly 1st interim analysis), Mereo will need to move quickly to ramp. I still think $RARE is better suited to advance in EU/UK. Setru overlaps with
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$MREO - Cantor Call at 1:30pm. Whoever is on it, please keep us posted. Thanks from a non-cantor client.
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$MREO - OK. Its decision time for $AZN if they will once and for all allow Mereo to acquire Alvelstat from them for the predetermined priced (small $$$) in their original agreement. Otherwise, we should she an announcement that they acquired the asset outright and can then
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$MREO - $RARE basically saying Setrusumab changing the way OI will be treated because its not slightly better but extremely better than Bisphosphonates and KOL's and doctors rethinking about how patients will be treated going forward. The 67% fracture rate was heavily skewed to
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$MREO - This will be over $6.00 on a partnership rather quickly and in teens in a acquisition. Given the price & valuation, a takeout appears to be the best option for an acquirer ( $AZN, $NVS) who wants Alvelestat. $11.00+ likely the correct number. $1.6B and you get Alvelestat,
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$MREO -OK going out on a limb here. Company will be acquired over $12. Part may come as a CVR, maybe not but price action is pretty clear to me...If not, Alvelestat partnership will be a BLOCKBUSTER to justify staying independent......
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$MREO 13% & 16% BMD & 67% reduction in fracture rates . Game changing data
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$MREO - Last thing. If AATD and its derivative indications are a $10B market, there is no way the company doesn't do a blockbuster deal or be acquired...$5 or $625m is chump change for $AZN or $VRTX. Nothing else to say, expecting fireworks to come before the 4th of July... Good
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$MREO - My best guess: a deal for company should be in the works.
1. Alvelestat needs to get into a P3 ASAP- $AZN
2. Etigilimab needs a partner or be sold - $NVS
3. Setrusumab- $RARE needs control of EU/UK rights
-Mereo could be sold for any of the above. Most of these issues
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$MREO - It is now crystal clear this company is in M&A discussions. The silence has been deafening. They have been in discussions and have not issued a meaningful PR since May of last year when they provided ASTRAEUS Phase 2 data on 5/23/23. (I am not including $RARE Setru update
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$MREO: David Luis still warming up waiting for the announcement....Rubric, Adage, Soleus, Mangrove. We are ALL IN.......LFG
$MREO Just getting David Luis warmed up again.
By far my favorite celebration GIF.
Should continue higher next 2 days. GLTA
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$MREO getting close to 52 week highs on no news. No insider buying. No hints of a partnership for 6 months despite numerous suitors for Alvelstat. This is like the 5th sell off turn around in last few weeks since we broke $4.. News pending.
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$MREO - $17 Target again any way you slice it. What is Alvelestat worth? Both Cantor & Needham apparently still assign $0 VALUE to Alvelestat in their models.
- ONLY ACQUISITION MAKES SENSE FOR PARTNER
Valuations below confirm what is out there in the street. Surprised CEO & IR
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$MREO - $AZN does not have an option other than to acquire when you look at TAM and positioning of a P3 Alvelestat - So we know the values of AATD (ie INBX $1.7B deal benchmark) and the TAM being somewhere north of $10B a few years out. Alvelestat will be expanded into COPD
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@Pharmdca
$MREO worth $8-$10 right now.. $25 when Setrusumab is approved. Plus, Alvelestat decision makes this a takeout play today as that program needs to move forward ASAP and a partner will need to decide. (i.e. $AZN). Alvelestat a billion dollar program "when" approved.
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$MREO - Posting this because no one will address this valuation gap in our AATD program vs the sale of $INBX (INBRX-101) for $1.7B... Alvelestat worth more than zero....Stock should not be below $4
$MREO - Comp Model Updated. Revised Alvelestat valuation upwards to $850MM from $200MM.
-Target now goes to $15 from $10.
-My value may still be conservative relative to $INBX sale of 101 AATD program for $1.7B as Alvelestat is already in P3.
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$MREO $RARE If Setru trial is stopped at 1st interim analysis (end of year), look out. Stock will make Space X look like a Bottle Rocket. 12-18 months from 2025 NDA and subsequent FDA approval shortly after. Don't think this will happen, though. I beleive BP would want to own it
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$MREO Cantor AATD call tomorrow at 11 am EST. Probably will highlight Alevelstat front and center given the Sanofi $1.7B deal for $INBX. Phase 3 ready oral asset currently valued at $0. Given the timing to close this partnership and lack of insider buying makes me think this
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$MREO - I'll say this again. Its pretty clear
@ScotsKnight2
days are numbered here and Mereo DOES NOT stay independent. Lucky for us, $RARE CEO has handled all the Setrusumab news flow and data. AND If it wasn't for the EXCELLENT work done here by
@ej23ny
and others, we would be
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$MREO OK, I'm on the edge of my seat for tomorrow's opening. Up 0.41 euros in Germany to 3.10 is kind of unreal. That's about $3.40 US. Word must be leaking out that we are close to a decision on path forwaed for company.
$mreo.. UP 0.41$ Euros.... Stick a fork in this one... she's done..LOL 😆😆😆
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$MREO - Pending news next 3 months:
- JPM Jan Healthcare Conference: $RARE will light the fire again on Setrusumab just like last year. (This event in Jan-23 was the "1st HINT" on Setru potential followed recent analyst day in Oct fracture data. Mereo's EU/UK rights? Ultra wants
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Before $MREO/Partner can move into a Phase 3, Alvelestat has to be formally ACQUIRED from $AZN.... $MREO can actually buy it out ASAP but I can't imagine AZN is not contemplating an outright acquisition. Mereo has no plans or funds to move this program forward alone as they have
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$MREO - Revised my model: $9.76 price Target.
-Lots of new tutes adding with updated 13-HFR filings. Rubric keeps adding to 13.88% position. Soleus:+9.6m (new), Rock Spring: 7.7m (+9%) 683 Capital:5.4m (+170%), Citadel 2.2m(+27%). Baker in there too although their position
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$MREO - Fireside Chat - Maybe DSK can finally provide some real guidance for the company. Previous fireside chats have been a shit show. In addition, we need an update on the other pipeline items that are not even discussed. This value discrepancy (gap) with other AATD programs
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$MREO - On November 28, 2023, Dr. Denise Scots-Knight, Mereo BioPharma Group plc’s (the “Company”) Chief Executive Officer, purchased 150,000 American Depositary Shares (“ADSs”), each representing five ordinary shares, nominal value £0.003 per share, of the Company in open
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$MREO - So trial started likely dosing in April/23 putting 12 month data available end of March so we should get an update on all the important fracture rates in April at some point. Exactly 6 months or so after the $RARE October update. Maybe they update us at Cantor on April
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$mreo So $imgn Elahare peak sales about $400m+ and company valued at $4b. Setru expacting $1.6B and Mereo barely above $200m enterprise value. This will start to have a $CABA type move in the coming weeks/months.. I'm really starting to believe the longer it's independent, the
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$MREO: price expectations scenarios in a takeout today from Low to High:
1. $5 cash + Setru CVR $5-$8
2.$6 cash + Setru CVR $4-$7
3.$8 cash +Alvel CVR $4
4. $10 in stock +Alvel CVR $3
5. $12 in stock
This assumes that $AZN comes for Alvelestat but don't rule out $RARE or someone
$MREO -Even an acquisition at $10.00 or $1.4B would be cheap. They have two, yes two drugs that have markets over $1.0B+. That's $2.0B on the low end..$RETA another rare disease company with a TAM of less than $1.0B sold for $7.3B. It's clear by recent M&A BP is willing to pay to
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$MREO - Target revised to $13. Should be$4-$6
Revisions below:
-Alvelestat taken to $425m from $850m.
-Etigilimab taken to $0 from $50m.
-Company should be dictating terms and closing Alvelestat deal soon prior to AGM and Rubric standstill who will want change and quickly after
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$MREO - Everyone starting to figure out the AATD market is MUCH MORE expandable than a $1B TAM
-"JP Morgan views AATD as a roughly $12B commercial opportunity"
Finally the Street is waking up to what Alvelestat is should be worth as a Phase 3 ready w a "CLEAN FDA PATH. Even $12
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$MREO - $RARE you can always count on Emil to pump us up. Setru turns on bone production. Recent results "shocked" people in the industry. Stringent interim analysis is a high bar for FDA (reading between lines, I believe he thinks it gets there). Thresholds are high bars for FDA
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$MREO - Rubric? Was the proxy battle a complete waste of time if they sit idly by. This company needs real activist like Icahn, Denner, BVF, anyone with balls to put an end to this stock malaise. Ariad pharma had the same thing. Denner came in at $3.00. Put pressure on founding
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$MREO -replying to
@rigaslav
-With stock below $4 and deal comps over $12-$17. THERE IS NOTHING FURTHER TO DISCUSS - The Board needs to bring in CENTERVIEW once and for all to either monetize Alvelestat or the whole company.
This is a complex transaction aside from just
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$MREO - So we have RUMORS of a Buyout:
- $AZN, $GSK, $NVS , $RARE & others
-A CEO & team focused on providing NO NEWS (call it what you want, it was DELIBERATE for 6 months)
-SURGE in volume at 2 year highs
-ACTIVIST & INSIDER BUYING on last 6 months
- A blockbuster SETRUSUMAB
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$MREO - The $INBX deal changed everything. Even if they were waiting for more data as $RARE progresses trial (to prop price higher), Rubric & the Board can not sit with their head in the sand and act like this $1.7B deal didn't take place while Alvelestat continues to be valued
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$MREO Looks like we have a deal soon. Something must be leaking at JPM. There have been hints in price action last 4 days. Stock was being pinged to be capped at $2.50, $2.60 and recently $2.80. Expect a breakout soon. 1.6m share blocks just don't suddenly appear at 52 week highs
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$MREO - Rubric made another filing today. Purchased 475k shares at $2.07 or so. 14.22% and adding...
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$MREO - Expecting a blowout deal relative to current price. Stocks don't break 52 wk highs with NO News for no reason. Pretty sure they have been approached by several parties and finally retained a banker. Recent deals we have seen top dollar acquisitions from BP. Rubric likely
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$MREO - Cantor assumes 35% peak penetration rate for Setru. I say it will be over 50%+ and become SOC. Once launched, I would expect it would be easy rollout (via KOL) to get word out into the rare disease OI market. Setrusumab has already created a buzz from one doctor I talked
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$MREO - Not for nothing but its been 6 months since $RARE reported Setru results and CEO has not had any stock moving information on our remaining pipeline. Given we are severely undervalued by any stretch of the imagination, how much longer will management remain in place. I
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$MREO - Expect a deal to be hammered out quickly. Stocks do not go up for no reason and no PR. Company hasn't provided anything new info to investors. We are up from a 2 month closing base of around $2.10 to $3.00 with increasing volume...Deal likely confirmed at JPM this week.
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$MREO - I am truly baffled by the valuation discrepancy on our lead assets (Setru & Alvel) but now with TIGIT gaining momentum. You would think management would throw a bone to shareholders on Etigilimab given it had good response rates in Cervical. Its definitely worth more than
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$MREO -The longer this Orbit trial goes on without stoppage, the higher the price will be. In addition, multiple levers to get taken out for other reasons:
An acquisition of Mereo will become a PRIORITY.
-Setrusumab: Price only goes higher as Orbit continues. A $b approved
$MREO multiple interim analysis’ built into the trial most likely the trial will be stopped early than primary completion date of 03/2025.
The fracture rate reduction > 3X and the trial overpowered will result early stoppage
$XBI $IBB
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$MREO - Yeah. Big blocks coming in before close and we go from Red to Green on a Friday. Looks like there is a chance we get the news once and for all on Monday. This is why we always own Mereo on a Friday in recent weeks...Good Luck ..
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$MREO - "Regional Deals" Company has 33 employees. Its time to monetize this pipeline and Alvelestat should be the 1st to go.... Now you know why CEO got an 86% disapproval rating in our poll.. Likely similar to Ultra but do we really want current management building out a
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$MREO we haven't had "REAL" news in months (maybe a year when you exclude $RARE updates). I have been very critical of this passiveness and rightly so. This recent $ITOS Tigit news is another reason I find troubling DSK continues to leave us in the dark. Nothing on NAVI as well
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$MREO - Just a note on price action. This is the performance from the day after $RARE R&D day on 10/16 where it gapped up in Mon morning (Closed @ $1.29 on Fri. 10/13). With Rubric continually adding in a face of " $XBI Capitulation", you can bet we are going a lot higher from
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$MREO @ $3.14 is RIDICULOUS- What is Alvelestat worth and how big is the AATD market?
-Big enough that $VRTX lost $7.5B in mkt cap when its trial failed.
-Big enough for Sanofi to pay $1.7B to $INBX for their earlier stage program.
-BTW, Setrusumab will own the $2.0B+ OI
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$MREO Stock being Pinned at $3.00 like it was all of January before breaking out. Short Volume available is close to 10m now. Looks like we will start to back up soon. Fingers crossed...
$MREO Similar to my previous post on Jan 11th. Looks like stock getting pinned again at $3.05. Can't explain it but previously it did same thing at $2.50, $2.60, $2.80 before breaking out. Kind of feels the same here as it is continually under accumulation. LOL. spoke to soon,
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$MREO - Updated my model - $10.44 Target
Revised Alvelestat up to $200m. Revised Navicixizumab to $25m. Revised Setrusumab Probability of Success to 80%. ($RARE study Overpowered for Efficacy, Approval guaranteed considering safety Profile). Not sure what Street Analysts are
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$MREO guys, talking about TIGIT being a value driver as of today is questionable. Roche has positive news, and so what, you expect us to trade up significantly on hope they will do some Bus. Dev... we had a blockbuster $1.7B deal in AATD, and we have a more viable program and got
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$MREO - Merry Christmas. Back to business. In terms of a takeout. I would expect a $7-9 takeout (probably w CVR)..likely somewhere like $5-$6 cash with a CVR (w a Setru approval, this CVR could be a big kicker value $3-$7) I, too, expect a deal within the next two months.
$MREO - Updated my model - $10.44 Target
Revised Alvelestat up to $200m. Revised Navicixizumab to $25m. Revised Setrusumab Probability of Success to 80%. ($RARE study Overpowered for Efficacy, Approval guaranteed considering safety Profile). Not sure what Street Analysts are
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$MREO - By "plans to soon embark on a phase 3 clinical trial of alvelestat", I hope they means selling the asset. If partnership, it would need to be a blockbuster ($100m+ upfront, $B biobucks later) otherwise, I would prefer a sale. I DID NOT KNOW AATD WAS BIGGER THAN CYSTIC
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$MREO upgrades galore on Mondays. Price targets going to go over $10 finally. We run to $3 is my best guess and momo comes in..
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$MREO - Replying to
@Pharmdca
and
@semodough
My updated model ($10-$15) closer to where price target should be today especially after the $INBX acquisition by Sanofi. A $3 increase from $4 to $7 after the Setru update in Oct and AATD comp appears to be low for a rare disease
$MREO - Comp Model Updated. Revised Alvelestat valuation upwards to $850MM from $200MM.
-Target now goes to $15 from $10.
-My value may still be conservative relative to $INBX sale of 101 AATD program for $1.7B as Alvelestat is already in P3.
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$MREO - Coming back to Alvelestat, $VRTX dropped -$30+ dollars losing $7.5B in market cap when it halted its AATD drug trial and Mereo's Phase 3 program basically still valued at $0.. Alvelestat deal will be a Blockbuster if company is not sold. I would expect a deal better than
$MREO - Alvel P2 data below confirms stat. sig. response at 240mg dose. Chart below...
-Alvelestat (oral) uses a direct MOA by inhibiting NE directly. This is a direct approach and will move fast into a P3. -Several AATD drugs in dev. with billions in milestones use a MOA of
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$MREO - OK. Target price updated to $14. Tweaked my model from 80% Setrusumab POS to 90% as well.
So BTIG finally comes around with a $6 target after assuming a 90% probability of success for Setru.
Still no analyst models any value for Alvelestat. This disconnect will need to
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$MREO - One has to ask:
Where is Mereo strategically at this point?
- There will be no further internal drug development
- They will not be a commercial org. selling product
- CEO is not respected enough to lead new initiatives on new drugs or even rest of pipeline.
- Do we
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Waiting for the
@PersimmonTI
$MREO update so I can finally unravel this valuation disparity known as the "Mereo Matrix".
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$MREO - Looks like the vote was approved according to SEC filing today
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@PersimmonTI
It is definitely a premium to where it trades but in reality, $MREO should have been in the $5 range the last 6 months given Mgt's state of "manipulated price suppression - i.e. withholding news". Setrusumab alone makes this worth $8.00 a share considering the $250m milestone and
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$MREO has been closing strong on every Friday last few weeks. To me, it appears that there will be NO PARTNERSHIP just discussions on a takeout price... Volume and Price action do not lie. This reversal today also a clear sign...
$MREO - This is what Mereo could be worth conservatively... $8-$10 is the range...They went public around $8 a few years ago. Pipeline is advanced to P3.
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@ej23ny
$RARE $MREO I would be willing to bet that Ultra has completed enrollment by end of March and likely announces it tomorrow in a PR or during the Cantor call
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$MREO - This message for
@ScotsKnight2
.
-Its time for the Board to announce a STRATEGIC REVIEW of the company. Mereo has remained undervalued for a prolonged period of time. Given the recent AATD deal for $1.7B by Sanofi for INBRX-101, your prime assets (Setrusumab, Alvelestat &
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$MREO - I will say it again. Setrusumab is a game changer in bone health. OI is just beginning. This likely will put $RARE into play IMO given they have the deepest rare disease pipeline. That being said, expecting a serious run-up here in $MREO as the EU/UK rights are prime to
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$MREO - Updated my Chuck Norris model from Dec.
Current Value $520M (net of cash) Stock: $4.15 NOW. These values put us closer to $8.00 (no buyout premium. Takeout is $12.00+ minimum based on rare disease comps) .Setrusumab: Cure of OI, $1B revs min, $250 milestone value:
$MREO - Current Value $230M (net of cash) Stock should be closer to $4.00 NOW without any BUYOUT Premium. STOCK SHOULD NOT BE $2.35.
Setrusumab: Cure of OI, $1B revs min, $250 milestone value: $400m-$600m
Alvelestat: $1B indication, Clear approval path, P3 value: $100m-$300m
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$MREO - Rubric will remain on Mereo Board. Coop Agreement in place until next 2025 AGM. He's not going nowhere..
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$MREO - Late Breaking Poster Section at ASMBR
"Here comes the BOOM"
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$MREO - Not sure how much longer this is gonna take to get news on the fate of the company for Alvelestat Path to P3 with $AZN. Setrusumab rights (monetization of EU/UK) $RARE. Etigilamab (TIGIT) and Navicix**mab as well as others. Not sure how hard it is to update a corporate
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