Mereo reverse merges with a flailing OncoMed and preps for a back flip onto Nasdaq
Long after the bright lights had dimmed and the marquee partners had largely slipped away from OncoMed $OMED, the California biotech has one last role to play.
The company, with a market cap that had dwindled to less than cash, has become a reverse merger vehicle for the UK’s Mereo, which will now do a back flip onto Nasdaq as the market remains turbulent. Mereo — which is listed on the London exchange, something of a backwater these days — had taken a shot at a US IPO in better days, though, dropping out of the queue last spring.
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