Mereo Halts Plans For US Listing

Mereo BioPharma has withdrawn its Nasdaq public offering, which had a target of raising $80m, because of ‘challenging and volatile’ market conditions in the US.

Dollar bills — Mereo cites decline of the Nasdaq Biotech Index as one of its reasons for stepping away from a US listing • Source: Shutterstock

UK-based Mereo BioPharma Group PLC has postponed its plans for an $80m Nasdaq listing because of challenging market conditions – a decision that has knocked its UK stock price.

Mereo’s stock, traded already on the London Stock Exchange, had spiked on the news the company would float on Nasdaq....

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