Report of Foreign Issuer Pursuant to Rule 13a-16 or 15d-16 (6-k)
May 25 2022 - 3:13PM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 6-K
REPORT OF
FOREIGN PRIVATE ISSUER PURSUANT
TO RULE 13a-16 or
15d-16 UNDER THE
SECURITIES EXCHANGE ACT OF 1934
For the month of May, 2022
Commission File Number: 001-38452
MEREO BIOPHARMA GROUP PLC
(Translation of registrants name into English)
4th Floor, One Cavendish Place,
London, W1G 0QF, United Kingdom
(Address of principal executive office)
Indicate by check mark whether
the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form
20-F ☒ Form 40-F ☐
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ☐
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ☐
Explanatory Note:
On May 23, 2022, Mereo BioPharma Group plc (the Company) received a letter (the Notification Letter) from the Listings
Qualifications Department of The Nasdaq Stock Market, LLC (Nasdaq) notifying the Company that its American Depositary Shares (ADSs) failed to maintain a minimum bid price of $1.00 over the previous 30 consecutive business
days as required by the Listing Rules of Nasdaq. The Notification Letter does not result in the immediate delisting of the Companys ADSs, and the ADSs will continue to trade uninterrupted under the symbol MREO.
Pursuant to Nasdaq Listing Rule 5810(c)(3)(A), the Company has a compliance period of 180 calendar days, or until November 21, 2022 (the Compliance
Period), to regain compliance with Nasdaqs minimum bid price requirement. If at any time during the Compliance Period, the closing bid price per ADS of the Companys ADSs is at least $1.00 for a minimum of 10 consecutive business
days, Nasdaq will provide the Company a written confirmation of compliance and the matter will be closed.
In the event the Company does not regain
compliance by November 21, 2022, the Company may be eligible for an additional 180 calendar day grace period. To qualify, the Company will be required to meet the continued listing requirement for market value of publicly held shares and all
other initial listing standards for Nasdaq, with the exception of the bid price requirement, and will need to provide written notice of its intention to cure the deficiency during the second compliance period. If the Company does not regain
compliance during the initial grace period and is not eligible for an additional grace period, Nasdaq will provide written notice that the ADSs are subject to delisting from the Nasdaq Global Market. In that event, the Company may appeal such
determination to a hearing panel.
The Company intends to monitor the closing bid price of its ADSs and its business operations are not affected by the
receipt of the Notification Letter.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned, thereunto duly authorized.
Date: May 25, 2022
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MEREO BIOPHARMA GROUP PLC |
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By: |
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/s/ Charles Sermon |
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Name: Charles Sermon |
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Title: General Counsel |
Mereo BioPharma (NASDAQ:MREO)
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