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$MREO Thread
1)Focus of this thread: Etigilimab and Alvelestat
Financials: Roughly $200 million in cash (50M from upfront payment from Ultragenyx & $115M raise from a strong secondary last week). Company fully funded into 2023
Disclaimer: I own a significant position LT
1)Focus of this thread: Etigilimab and Alvelestat
Financials: Roughly $200 million in cash (50M from upfront payment from Ultragenyx & $115M raise from a strong secondary last week). Company fully funded into 2023
Disclaimer: I own a significant position LT
$MREO
2) Outstanding shares: 67 plus million shares
Market cap: ~$345 million
Recent position by Orbimed stake at 9.9% of the company. and recently Ikarain added to MREO position.
Merck, Roche, Arcus, Beigene all moving into anti-TIGIT drug development
2) Outstanding shares: 67 plus million shares
Market cap: ~$345 million
Recent position by Orbimed stake at 9.9% of the company. and recently Ikarain added to MREO position.
Merck, Roche, Arcus, Beigene all moving into anti-TIGIT drug development
$MREO
3) Strong interest in Anti-TIGIT approaches in oncology. Why TIGIT Target: TIGIT and PD-1 has been shown to be over expressed on tumor antigen-specific cells. Now inhibiting TIGIT can enhance anti tumor T cell responses.
3) Strong interest in Anti-TIGIT approaches in oncology. Why TIGIT Target: TIGIT and PD-1 has been shown to be over expressed on tumor antigen-specific cells. Now inhibiting TIGIT can enhance anti tumor T cell responses.
$MREO
4) Therefore, blocking these checkpoints on T cells (PD-1/PD-L1, TIGIT) could potentially lead to better clinical benefit. TIGIT is thought to act as a molecular brake that stops T cells from attacking tumors.
4) Therefore, blocking these checkpoints on T cells (PD-1/PD-L1, TIGIT) could potentially lead to better clinical benefit. TIGIT is thought to act as a molecular brake that stops T cells from attacking tumors.
$MREO
5) Etigilimab, monocolonal antibody, is competitive with other Anti-TIGIT as it is both inhibitory as well as ADCC characteristics. Company is focusing on developing etigilimab on tumor types with high PDL1 and TIGIT expression with poor responses to anti-PDL1 or PD1.
5) Etigilimab, monocolonal antibody, is competitive with other Anti-TIGIT as it is both inhibitory as well as ADCC characteristics. Company is focusing on developing etigilimab on tumor types with high PDL1 and TIGIT expression with poor responses to anti-PDL1 or PD1.
$MREO
6) 2nd lead drug Alvelestat: an oral therapy twice daily (neutrophil elastase inhibitory) for the treatment of severe alpha-1-antitrypsin deficiency. AATD is a high unmet medical need, a rare serious genetic disorder leading to early onset pulmonary disease.
6) 2nd lead drug Alvelestat: an oral therapy twice daily (neutrophil elastase inhibitory) for the treatment of severe alpha-1-antitrypsin deficiency. AATD is a high unmet medical need, a rare serious genetic disorder leading to early onset pulmonary disease.
$MREO
7) Catalysts
1)Etigilimab data updates in 2H 2021, possible partnership news
2)Alvelestat COVID-19 data 2nd Qtr. 2021
3)Alvelestat data in AATD in 2H 2021
Target: Long term believe this company should be trading over $1-$1.5 Billion range based on company’s pipeline.
7) Catalysts
1)Etigilimab data updates in 2H 2021, possible partnership news
2)Alvelestat COVID-19 data 2nd Qtr. 2021
3)Alvelestat data in AATD in 2H 2021
Target: Long term believe this company should be trading over $1-$1.5 Billion range based on company’s pipeline.
