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Mereo BioPharma Group plc

Mereo BioPharma Group plc

NASDAQ•MREO
CEO: Dr. Denise Vera Scots-Knight Ph.D.
Sector: Healthcare
Industry: Biotechnology
Listing Date: 2019-04-24
Mereo BioPharma Group plc, a biopharmaceutical company, develops and commercializes therapeutics for the treatment of oncology and rare diseases in the United Kingdom, the United States, and internationally. It develops Etigilimab (MPH-313), an antibody T-cell immunoreceptor with Ig and ITIM domains, which is in Phase 1b clinical trial for the treatment of tumors. The company is also developing Navicixizumab (OMP-305B83), which has completed Phase 1b clinical trials for the treatment of the late line ovarian cancer; Acumapimod (BCT-197), a p38 MAP kinase inhibitor that is in Phase II clinical trials to treat acute exacerbations of chronic obstructive pulmonary disease; and Leflutrozole (BGS-649), an oral aromatase inhibitor for the treatment of hypogonadotropic hypogonadism which is in Phase 2 trials. In addition, it develops rare disease product candidates, including Setrusumab (BPS-804), an antibody for the treatment of osteogenesis imperfecta; and Alvelestat (MPH-966), an oral small molecule that is in Phase II clinical trial to treat Alpha-1 anti-trypsin deficiency. The company has a license agreement with Feng Biosciences for the development and commercialization of navicixizumab; license agreement with ReproNovo for the development and commercialization of leflutrozole; licensing agreement with AstraZeneca; and license agreement with Ultragenyx Pharmaceutical Inc. to develop and commercialize setrusumab. Mereo BioPharma Group plc was incorporated in 2015 and is headquartered in London, the United Kingdom.
Contact Information
One Cavendish Place, 4th Floor, London, W1G 0QF, United Kingdom
44-33-3023-7300
www.mereobiopharma.com
Market Cap
$60.51M
P/E (TTM)
-1.5
40.3
Dividend Yield
--
52W High
$3.84
52W Low
$0.20
52W Range
5%
Rank73Top 97.7%
1.2
F-Score
Modified Piotroski Analysis
Based on 9-year fundamentals
Weak • 1.2 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2017-2025

Financial Dashboard

Q3 2025 Data

Revenue

$0.00+0.00%
4-Quarter Trend

EPS

-$0.05-48.72%
4-Quarter Trend

FCF

-$7.31M-2.79%
4-Quarter Trend

2025 Q3 Earnings Highlights

Key Highlights

Q3 Net Loss Narrowed Net loss for Q3 2025 narrowed significantly to $(7.0M) from $(15.0M) reported in Q3 2024.
Milestone Revenue Recognized Recognized $0.5M milestone revenue from ReproNovo partnership during nine months ended September 30, 2025.
Cash Runway Extended Current cash resources are projected to fund committed clinical trials and operating expenses extending into 2027.
Financing Activity Shift Financing provided only $0.3M cash in nine months 2025, down sharply from $46.2M provided in nine months 2024.

Risk Factors

R&D Spending Increased Total R&D expenses rose $1.5M to $13.6M for the nine months ended September 30, 2025.
Setrusumab R&D Costs Setrusumab R&D costs increased $4.4M for nine months 2025, driven by manufacturing agreements with Ultragenyx.
Future Funding Required Additional external funding required to complete development plans and potentially commercialize selected rare disease products.
Accumulated Deficit Growth Accumulated deficit reached $493.7M as company expects significant operating losses for the foreseeable future.

Outlook

Pipeline Advancement Focus Strategy focuses on advancing six clinical stage product candidates through pre-clinical, clinical, and manufacturing data stages.
Setrusumab Commercial Prep Pre-commercial activities for setrusumab in Europe total $0.8M in Q3 2025, supporting potential regulatory approval launch.
Cash Management Strategy Plan to fund operations using cash on hand combined with non-dilutive funding sources before seeking equity or debt.
Loan Note Conversion Complete Novartis Loan Note fully converted in February 2025, eliminating significant interest-bearing liabilities and associated expense.

Peer Comparison

Revenue (TTM)

Vanda Pharmaceuticals Inc.VNDA
$212.07M
+11.1%
Alector, Inc.ALEC
$69.05M
+12.3%
BioLineRx Ltd.BLRX
$17.25M
-21.6%

Gross Margin (Latest Quarter)

AC Immune SAACIU
100.0%
+2494.6pp
BioLineRx Ltd.BLRX
83.4%
+0.0pp
Candel Therapeutics, Inc.CADL
0.0%
+0.0pp

Key Metrics

Symbol
Market Cap
P/E (TTM)
ROE (TTM)
Debt to Assets
CAPR$1.19B-17.1-62.7%0.8%
VNDA$480.43M-5.7-16.8%1.0%
IMMP$432.74M-10.1-38.9%1.0%

Long-Term Trends

Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
N/M
Revenue Volatile
4Q Net Income CAGR
N/M
Profitability Shift
Cash Flow Stability
0%
Cash Flow Needs Attention

Research & Insights

Next earnings:Mar 25, 2026
|
EPS:$0.01
|
Revenue:-
Reports
All Years
  • Form 10-Q - Q3 2025

    Period End: Sep 30, 2025|Filed: Nov 10, 2025|
    Revenue: $0.00+0.0%
    |
    EPS: $-0.05-48.7%
    N/A
  • Form 10-Q - Q2 2025

    Period End: Jun 30, 2025|Filed: Aug 12, 2025|
    Revenue: $500.00K+0.0%
    |
    EPS: $-0.09-100.0%
    Miss
  • Form 10-Q - Q1 2025

    Period End: Mar 31, 2025|Filed: May 13, 2025|
    Revenue: $0.00+0.0%
    |
    EPS: $-0.08-100.0%
    N/A
  • Form 10-K - FY 2024

    Period End: Dec 31, 2024|Filed: Mar 26, 2025|
    Revenue: $0.00-100.0%
    |
    EPS: $-0.29+100.0%
    N/A
  • Form 10-Q - Q3 2024

    Period End: Sep 30, 2024|Filed: Nov 12, 2024|
    Revenue: $0.00-100.0%
    |
    EPS: $-0.10-100.0%
    N/A
  • Form 10-Q - Q2 2024

    Period End: Jun 30, 2024|Filed: Aug 13, 2024|
    Revenue: $0.00-100.0%
    |
    EPS: $-430.59+519.5%
    N/A
  • Form 10-Q - Q1 2024

    Period End: Mar 31, 2024|Filed: May 15, 2024|
    Revenue: $0.00-100.0%
    |
    EPS: $-319.56-34.0%
    N/A
  • Form 10-K - FY 2023

    Period End: Dec 31, 2023|Filed: Mar 27, 2024|
    Revenue: $10.00M+563.6%
    |
    EPS: $-1100.22+37.1%
    Miss