09:02 AM EDT, 06/14/2024 (MT Newswires) -- Mereo BioPharma ( MREO ) said Friday it priced an underwritten offering of about 12.5 million American depositary shares at $3.99 apiece for gross proceeds of about $50 million.

The company said the offering is expected to close around Monday and net proceeds would be used to fund its setrusumab program, including supply and pre-launch activities in Europe, and for working capital and other general corporate purposes.

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