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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Mereo BioPharma Group PLC | NASDAQ:MREO | NASDAQ | Common Stock |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.15 | 4.82% | 3.26 | 3.23 | 3.31 | 3.35 | 3.14 | 3.16 | 855,585 | 01:00:00 |
From May 2019 to May 2024
By Chris Wack
Mereo BioPharma Group Plc (MREO) American depositary shares rose 26% to $1.97 after the company said it has entered into a $5 million convertible equity financing with Novartis Pharma AG (NVS).
The biopharmaceutical company said it also entered into a securities purchase agreement to issue up to $28 million of its ordinary shares exchangeable for ADSs, including a $3 million initial purchase, with Aspire Capital Fund LLC, a Chicago-based institutional investor.
Mereo said proceeds from these transactions will likely be used for general corporate purposes, including clinical trial activity and working capital.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
February 10, 2020 11:04 ET (16:04 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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