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$RARE ... Shares of Ultragenyx Pharmaceuticaland Mereo BioPharma declined after the companies said a portion of a study evaluating a treatment for osteogenesis imperfecta is progressing toward a final analysis. Ultragenyx was recently down 27%, to $30.10, and Mereo slipped 37%, https://t.co/l4d8TuhCB1
$MREO -40% We had at +20% / -40% (see replies) 4:06pm PR - more questions than answers, market no like. Ultragenyx and Mereo BioPharma Announce UX143 Phase 3 Orbit Study for Osteogenesis Imperfecta Progressing to Final Analysis All your questions will be answered…eventually https://t.co/VGq1cXG0dY
BREAKING: Ultragenyx $RARE plunges 26.8% after DMC recommends continuing the Orbit study on UX143, impacting Mereo BioPharma $MREO, which drops 35.7%. #Biotech #StockMarket
Shares of Ultragenyx Pharmaceutical Inc. (NASDAQ: RARE) fell 26.8% following the announcement that the Phase 3 Orbit study of UX143 for osteogenesis imperfecta will continue to the final analysis stage rather than advancing immediately. This development also impacted Mereo BioPharma (NASDAQ: MREO), whose stock dropped approximately 35.7%. The companies reported that the study is progressing toward a final analysis expected by the end of the year, with interim analysis results (IA2) missing expectations. Market reaction was negative, reflecting uncertainty about the study's outcomes at this stage. Some investors viewed the selloff as an opportunity to buy shares at lower prices, anticipating that the final analysis could yield more definitive and potentially positive results.
