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Why Mereo BioPharma Stock is Surging Today?

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Ultragenyx Pharmaceutical Inc (NASDAQ: RARE) and Mereo BioPharma Group plc (NASDAQ: MREO) have recently released interim data from the Phase 2 portion of the Phase 2/3 Orbit study of setrusumab. The data demonstrates significant improvements in patients with osteogenesis imperfecta (OI), reducing the incidence of fractures and showing ongoing improvements in bone mineral density (BMD). This positive data was presented at the American Society for Bone and Mineral Research 2023 Annual Meeting.

The annualized fracture rate for patients in the study was reduced by 67%, showing a substantial reduction in fractures compared to the two years prior to treatment with setrusumab. Additionally, treatment with setrusumab resulted in a mean increase in lumbar spine BMD from baseline of 13% at 20 mg/kg and 16% at 40 mg/kg. These encouraging results demonstrate the potential effectiveness of setrusumab in reducing fractures and improving bone health in patients with OI.

Following the release of this positive data, shares of Mereo BioPharma (MREO) have surged by 31.78% to $1.70, while Ultragenyx Pharmaceutical (RARE) shares have also seen a strong increase of 13.26% to $38.02.

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