Mereo Biopharma shares surge 16.34% intraday as company presents positive setrusumab/alvelestat data at J.P. Morgan Healthcare Conference and reports $41M cash balance supporting operations through mid-2027.

Mereo Biopharma surged 16.34% intraday, as the clinical-stage biopharmaceutical company focused on rare diseases presented positive clinical data on setrusumab and alvelestat at the J.P. Morgan Healthcare Conference and announced $41 million in cash reserves to fund operations through mid-2027.