Mereo BioPharma Group (MREO) Announced Progress in the Phase 3 Orbit Study Testing UX143

Mereo BioPharma Group plc (NASDAQ:MREO) is one of the Best 52-Week Low Penny Stocks to Buy Now. On July 9, Mereo BioPharma Group, along with Ultragenyx Pharmaceutical Inc., announced progress in the Phase 3 Orbit study testing UX143 for osteogenesis imperfecta.

The study is moving toward a final analysis expected around the end of the year. Management noted that the Data Monitoring Committee reviewed the data and found UX143 to have an acceptable safety profile, giving them a go-ahead for the final analysis. Moreover, management also remains confident that increasing UX143 increases bone mass, leading to stronger bones, fewer fractures, and better physical abilities.

Ultragenyx’s CEO, Emil D. Kakkis, noted that while they had hoped to close the trial earlier, they are eager to see complete results from the Orbit and Cosmic studies later this year.

Mereo BioPharma Group plc (NASDAQ:MREO) is a biopharmaceutical company that develops medicines for rare diseases and cancer. The company is working on treatments like Setrusumab for brittle bone disease and alvelestat for severe lung disease.

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Disclosure: None. This article is originally published at Insider Monkey.