NEW YORK, Feb. 05, 2026 (GLOBE NEWSWIRE) -- Gainey McKenna & Egleston announces that a securities class action lawsuit has been filed in the United States District Court for the Southern District of New York on behalf of all persons or entities who purchased or otherwise acquired Mereo BioPharma Group plc (“Mereo” or the “Company”) (NASDAQ: MREO) securities between June 5, 2023 and December 26, 2025, inclusive (the “Class Period”).
The Complaint alleges that Defendants provided misleading statements and/or concealing material adverse facts concerning the true state of the Phase 3 ORBIT and COSMIC programs; neither of which hit its primary endpoints of reducing annualized clinical fracture rate compared to the placebo or bisphosphonate control groups, respectively. The Complaint alleges that such statements absent these material facts caused shareholders to purchase Mereo’s ADS at artificially inflated prices.
The Complaint alleges that the full truth finally emerged on December 29, 2025, when Mereo issued a press release announcing that neither the ORBIT nor the COSMIC Phase 3 studies achieved statistical significance. The Complaint continue to allege that the press release indicated that neither study met its primary endpoint of reduction in annualized clinical fracture rate (“AFR”) compared to placebo or bisphosphonates, respectively, despite improved bone mineral density (“BMD”).
According to the Complaint investors and analysts reacted immediately to Mereo’s revelation, the price of Mereo’s ADS declined dramatically. The Complaint alleges that from a closing market price of $2.31 per share on December 26, 2025, Mereo’s ADS price fell to $0.29 per share on December 29, 2025, a decline of more than 87.7%.
Investors who purchased or otherwise acquired shares of Mereo should contact the Firm prior to the April 6, 2026 lead plaintiff motion deadline. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at tjmckenna@gme-law.com or gegleston@gme-law.com.
Please visit our website at http://www.gme-law.com for more information about the firm.
