Mereo BioPharma(US:MREO) Globenewswire·2026-02-18 22:38Core Viewpoint - Mereo BioPharma Group plc is facing a class action lawsuit due to allegations of misleading statements regarding the Phase 3 ORBIT and COSMIC programs, which failed to meet their primary endpoints, leading to a significant drop in stock price [3]. Group 1: Allegations and Impact - The class period for the lawsuit is from June 5, 2023, to December 26, 2025 [3]. - Defendants allegedly provided overly positive statements while concealing adverse facts about the Phase 3 ORBIT and COSMIC programs, which did not achieve statistical significance in reducing annualized clinical fracture rates [3]. - Following the announcement on December 29, 2025, that neither study met its primary endpoint, Mereo's ADS price plummeted from $2.31 to $0.29, a decline of over 87.7% [3]. Group 2: Next Steps for Shareholders - Shareholders are encouraged to register for the class action by April 6, 2026, to participate in potential recovery [4]. - Registered shareholders will receive updates through a portfolio monitoring software throughout the case lifecycle [4]. Group 3: Law Firm Information - The Gross Law Firm is a nationally recognized class action law firm dedicated to protecting investors' rights against deceit and fraud [5]. - The firm aims to ensure companies adhere to responsible business practices and seeks recovery for investors affected by misleading statements [5].