Mereo Bio’s navicixizumab Fast Track’d for ovarian cancer

Thinly traded nano cap Mereo BioPharma Group (NASDAQ:MREO) is up 6% premarket on increased volume, albeit on turnover of only 29K shares, in reaction to Fast Track designation in the U.S. for Phase 1-stage bispecific antibody navicixizumab for heavily pretreated patients with high grade ovarian, primary peritoneal or fallopian tube cancer who have received at least three prior lines of therapy and/or prior treatment with Roche’s Avastin (bevacizumab).

Fast Track status provides for more frequent interaction with the FDA review team and a rolling review of the marketing application.

Celgene was investigating the candidate but declined to exercise its license option about a year ago.

https://seekingalpha.com/news/3504171-mereo-bios-navicixizumab-fast-trackd-ovarian-cancer-shares-6-percent-premarket