{"id":49761,"date":"2022-10-18T18:02:03","date_gmt":"2022-10-18T16:02:03","guid":{"rendered":"https:\/\/pharma-trend.com\/en\/rubric-capital-management-comments-on-mereo-biopharma-updated-operating-plan\/"},"modified":"2022-10-18T18:02:03","modified_gmt":"2022-10-18T16:02:03","slug":"rubric-capital-management-comments-on-mereo-biopharma-updated-operating-plan","status":"publish","type":"post","link":"https:\/\/pharma-trend.com\/en\/rubric-capital-management-comments-on-mereo-biopharma-updated-operating-plan\/","title":{"rendered":"Rubric Capital Management Comments on Mereo BioPharma Updated Operating Plan"},"content":{"rendered":"
\n

\nReiterates Urgent Need for Board Change to Maximize Value<\/i>\n<\/p>\n

NEW YORK–(BUSINESS WIRE)–Rubric Capital Management LP (\u201cRubric\u201d), an investment advisor whose funds and accounts collectively own approximately 14% of the outstanding equity of Mereo BioPharma Group plc (NASDAQ: MREO) (\u201cMereo\u201d or the \u201cCompany\u201d), today issued the following statement in response to the Company\u2019s updated operating plan:\n<\/p>\n

\n\u201c<\/i>We commend Mereo management for heeding our call for action and taking the painful but necessary step of streamlining operations in order to preserve cash. At the time of the alvelestat data release in May through today, Mereo has improved its cash runway by two years and refocused resources on its most valuable programs. Unfortunately, in the second quarter alone, Mereo burned approximately \u00a39 million of cash, which the company clearly recognizes is unsustainable.\n<\/p>\n

\nWe do not believe this action would have been taken without Rubric\u2019s public engagement and, while this step is encouraging, we believe there is more work that can be done to unlock value at Mereo. Mereo\u2019s actions today confirm that our proxy contest has shaken the boardroom of Mereo off the autopilot it has been operating on for years, but this is not enough \u2013 active corporate governance paired with direct alignment with shareholders is necessary to achieve maximum value<\/span>. Rubric\u2019s slate of director nominees is highly qualified to drive further necessary change that is in the best interests of shareholders. We look forward to the general meeting and encourage all shareholders to vote in order to achieve further value enhancement led by our nominees.\u201d\n<\/p>\n

\nRubric\u2019s slate of highly qualified director nominees includes: Annalisa Jenkins, MBBS, FRCP, Daniel Shames, MD, Marc Yoskowitz, Justin Roberts, and David Rosen.\n<\/p>\n

Contacts<\/b> <\/p>\n

\nMedia:
\n
Jonathan Gasthalter\/Sam Fisher
\n
Gasthalter & Co.
\n
(212) 257-4170<\/p>\n

Investors:
\n
Okapi Partners LLC
\n
Bruce Goldfarb \/ Jason Alexander
\n
(212) 297-0720
\n
info@okapipartners.com<\/a>\n<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Reiterates Urgent Need for Board Change to Maximize Value NEW YORK–(BUSINESS WIRE)–Rubric Capital Management LP (\u201cRubric\u201d), an investment advisor whose funds and accounts collectively own approximately 14% of the outstanding equity of Mereo BioPharma Group plc (NASDAQ: MREO) (\u201cMereo\u201d or the \u201cCompany\u201d), today issued the following statement in response to the Company\u2019s updated operating plan: … [Read more…]<\/a><\/span><\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":{"0":"entry","1":"post","2":"publish","3":"author-business","4":"post-49761","6":"format-standard","7":"category-industry"},"yoast_head":"\nRubric Capital Management Comments on Mereo BioPharma Updated Operating Plan - Pharma Trend<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/pharma-trend.com\/en\/rubric-capital-management-comments-on-mereo-biopharma-updated-operating-plan\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Rubric Capital Management Comments on Mereo BioPharma Updated Operating Plan - Pharma Trend\" \/>\n<meta property=\"og:description\" content=\"Reiterates Urgent Need for Board Change to Maximize Value NEW YORK–(BUSINESS WIRE)–Rubric Capital Management LP (\u201cRubric\u201d), an investment advisor whose funds and accounts collectively own approximately 14% of the outstanding equity of Mereo BioPharma Group plc (NASDAQ: MREO) (\u201cMereo\u201d or the \u201cCompany\u201d), today issued the following statement in response to the Company\u2019s updated operating plan: ... [Read more...]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/pharma-trend.com\/en\/rubric-capital-management-comments-on-mereo-biopharma-updated-operating-plan\/\" \/>\n<meta property=\"og:site_name\" content=\"Pharma Trend\" \/>\n<meta property=\"article:published_time\" content=\"2022-10-18T16:02:03+00:00\" \/>\n<meta name=\"author\" content=\"Business Wire\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Business Wire\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/pharma-trend.com\\\/en\\\/rubric-capital-management-comments-on-mereo-biopharma-updated-operating-plan\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/pharma-trend.com\\\/en\\\/rubric-capital-management-comments-on-mereo-biopharma-updated-operating-plan\\\/\"},\"author\":{\"name\":\"Business Wire\",\"@id\":\"https:\\\/\\\/pharma-trend.com\\\/en\\\/#\\\/schema\\\/person\\\/02d41342c7a74fa7f0032bb35ef0bb24\"},\"headline\":\"Rubric Capital Management Comments on Mereo BioPharma Updated Operating Plan\",\"datePublished\":\"2022-10-18T16:02:03+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/pharma-trend.com\\\/en\\\/rubric-capital-management-comments-on-mereo-biopharma-updated-operating-plan\\\/\"},\"wordCount\":312,\"publisher\":{\"@id\":\"https:\\\/\\\/pharma-trend.com\\\/en\\\/#organization\"},\"articleSection\":[\"Industry\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/pharma-trend.com\\\/en\\\/rubric-capital-management-comments-on-mereo-biopharma-updated-operating-plan\\\/\",\"url\":\"https:\\\/\\\/pharma-trend.com\\\/en\\\/rubric-capital-management-comments-on-mereo-biopharma-updated-operating-plan\\\/\",\"name\":\"Rubric Capital Management Comments on Mereo BioPharma Updated Operating Plan - Pharma Trend\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/pharma-trend.com\\\/en\\\/#website\"},\"datePublished\":\"2022-10-18T16:02:03+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/pharma-trend.com\\\/en\\\/rubric-capital-management-comments-on-mereo-biopharma-updated-operating-plan\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/pharma-trend.com\\\/en\\\/rubric-capital-management-comments-on-mereo-biopharma-updated-operating-plan\\\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/pharma-trend.com\\\/en\\\/rubric-capital-management-comments-on-mereo-biopharma-updated-operating-plan\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Startseite\",\"item\":\"https:\\\/\\\/pharma-trend.com\\\/en\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Rubric Capital Management Comments on Mereo BioPharma Updated Operating Plan\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/pharma-trend.com\\\/en\\\/#website\",\"url\":\"https:\\\/\\\/pharma-trend.com\\\/en\\\/\",\"name\":\"Pharma Trend\",\"description\":\"\",\"publisher\":{\"@id\":\"https:\\\/\\\/pharma-trend.com\\\/en\\\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/pharma-trend.com\\\/en\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/pharma-trend.com\\\/en\\\/#organization\",\"name\":\"Pharma Trend\",\"url\":\"https:\\\/\\\/pharma-trend.com\\\/en\\\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/pharma-trend.com\\\/en\\\/#\\\/schema\\\/logo\\\/image\\\/\",\"url\":\"\",\"contentUrl\":\"\",\"caption\":\"Pharma Trend\"},\"image\":{\"@id\":\"https:\\\/\\\/pharma-trend.com\\\/en\\\/#\\\/schema\\\/logo\\\/image\\\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/pharma-trend.com\\\/en\\\/#\\\/schema\\\/person\\\/02d41342c7a74fa7f0032bb35ef0bb24\",\"name\":\"Business Wire\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Rubric Capital Management Comments on Mereo BioPharma Updated Operating Plan - Pharma Trend","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/pharma-trend.com\/en\/rubric-capital-management-comments-on-mereo-biopharma-updated-operating-plan\/","og_locale":"en_US","og_type":"article","og_title":"Rubric Capital Management Comments on Mereo BioPharma Updated Operating Plan - Pharma Trend","og_description":"Reiterates Urgent Need for Board Change to Maximize Value NEW YORK–(BUSINESS WIRE)–Rubric Capital Management LP (\u201cRubric\u201d), an investment advisor whose funds and accounts collectively own approximately 14% of the outstanding equity of Mereo BioPharma Group plc (NASDAQ: MREO) (\u201cMereo\u201d or the \u201cCompany\u201d), today issued the following statement in response to the Company\u2019s updated operating plan: ... [Read more...]","og_url":"https:\/\/pharma-trend.com\/en\/rubric-capital-management-comments-on-mereo-biopharma-updated-operating-plan\/","og_site_name":"Pharma Trend","article_published_time":"2022-10-18T16:02:03+00:00","author":"Business Wire","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Business Wire","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/pharma-trend.com\/en\/rubric-capital-management-comments-on-mereo-biopharma-updated-operating-plan\/#article","isPartOf":{"@id":"https:\/\/pharma-trend.com\/en\/rubric-capital-management-comments-on-mereo-biopharma-updated-operating-plan\/"},"author":{"name":"Business Wire","@id":"https:\/\/pharma-trend.com\/en\/#\/schema\/person\/02d41342c7a74fa7f0032bb35ef0bb24"},"headline":"Rubric Capital Management Comments on Mereo BioPharma Updated Operating Plan","datePublished":"2022-10-18T16:02:03+00:00","mainEntityOfPage":{"@id":"https:\/\/pharma-trend.com\/en\/rubric-capital-management-comments-on-mereo-biopharma-updated-operating-plan\/"},"wordCount":312,"publisher":{"@id":"https:\/\/pharma-trend.com\/en\/#organization"},"articleSection":["Industry"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/pharma-trend.com\/en\/rubric-capital-management-comments-on-mereo-biopharma-updated-operating-plan\/","url":"https:\/\/pharma-trend.com\/en\/rubric-capital-management-comments-on-mereo-biopharma-updated-operating-plan\/","name":"Rubric Capital Management Comments on Mereo BioPharma Updated Operating Plan - Pharma Trend","isPartOf":{"@id":"https:\/\/pharma-trend.com\/en\/#website"},"datePublished":"2022-10-18T16:02:03+00:00","breadcrumb":{"@id":"https:\/\/pharma-trend.com\/en\/rubric-capital-management-comments-on-mereo-biopharma-updated-operating-plan\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/pharma-trend.com\/en\/rubric-capital-management-comments-on-mereo-biopharma-updated-operating-plan\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/pharma-trend.com\/en\/rubric-capital-management-comments-on-mereo-biopharma-updated-operating-plan\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Startseite","item":"https:\/\/pharma-trend.com\/en\/"},{"@type":"ListItem","position":2,"name":"Rubric Capital Management Comments on Mereo BioPharma Updated Operating Plan"}]},{"@type":"WebSite","@id":"https:\/\/pharma-trend.com\/en\/#website","url":"https:\/\/pharma-trend.com\/en\/","name":"Pharma Trend","description":"","publisher":{"@id":"https:\/\/pharma-trend.com\/en\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/pharma-trend.com\/en\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/pharma-trend.com\/en\/#organization","name":"Pharma Trend","url":"https:\/\/pharma-trend.com\/en\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/pharma-trend.com\/en\/#\/schema\/logo\/image\/","url":"","contentUrl":"","caption":"Pharma Trend"},"image":{"@id":"https:\/\/pharma-trend.com\/en\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/pharma-trend.com\/en\/#\/schema\/person\/02d41342c7a74fa7f0032bb35ef0bb24","name":"Business Wire"}]}},"_links":{"self":[{"href":"https:\/\/pharma-trend.com\/en\/wp-json\/wp\/v2\/posts\/49761","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/pharma-trend.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/pharma-trend.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/pharma-trend.com\/en\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/pharma-trend.com\/en\/wp-json\/wp\/v2\/comments?post=49761"}],"version-history":[{"count":0,"href":"https:\/\/pharma-trend.com\/en\/wp-json\/wp\/v2\/posts\/49761\/revisions"}],"wp:attachment":[{"href":"https:\/\/pharma-trend.com\/en\/wp-json\/wp\/v2\/media?parent=49761"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/pharma-trend.com\/en\/wp-json\/wp\/v2\/categories?post=49761"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/pharma-trend.com\/en\/wp-json\/wp\/v2\/tags?post=49761"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}