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Mereo Halts Plans For US Listing

 
• By Lucie Ellis-Taitt

Mereo BioPharma has withdrawn its Nasdaq public offering, which had a target of raising $80m, because of ‘challenging and volatile’ market conditions in the US.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

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