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Mereo Biopharma Group (MREO) investor relations material
Mereo Biopharma Group Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary10 Nov, 2025
Executive summary
Focused on developing therapeutics for rare diseases, with late-stage candidates setrusumab (OI) and alvelestat (AATD-LD), and vantictumab in early-stage partnered development.
Approaching key transition with Phase 3 Orbit and Cosmic studies of setrusumab in osteogenesis imperfecta, with data expected by end of 2025.
Commercial readiness activities underway in Europe for setrusumab, targeting expanded markets.
Active partnering discussions for alvelestat and new partnership for vantictumab, retaining European rights.
Strategy centers on acquiring and developing rare disease assets with significant prior investment and data.
Financial highlights
Net loss for Q3 2025 was $7.0M, a significant improvement from $15.0M in Q3 2024; net loss for the nine months ended September 30, 2025 was $34.5M, down from $36.2M year-over-year.
Revenue of $0.5M in the nine months ended September 30, 2025, from a milestone payment related to leflutrozole; no revenue in the prior year period.
Cash and cash equivalents were $48.7M as of September 30, 2025, down from $69.8M at December 31, 2024, and expected to fund operations for at least 12 months from filing.
Operating cash outflow for the nine months was $23.3M, nearly flat year-over-year.
Operating loss for Q3 2025 was $10.0M.
Outlook and guidance
Current cash resources expected to fund operations into 2027, but additional funding will be needed for full development and commercialization plans.
Plans to seek non-dilutive funding, equity, or debt financing as needed.
Guidance does not include potential partnership payments for alvelestat or non-core business development.
Phase 3 data for setrusumab expected around end of 2025; pivotal Phase 3 for alvelestat in preparation.
Setrusumab data: contingency for negative outcome?
Alvelestat partnership: expected deal structure?
Setrusumab EU market expansion: specific details?
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Next Mereo Biopharma Group earnings date
Q4 202526 Mar, 2026
Next Mereo Biopharma Group earnings date
Q4 202526 Mar, 2026
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Frequently asked questions
Mereo Biopharma Group plc is a biopharmaceutical company that focuses on the development and commercialization of therapies for rare diseases and oncology. The company has a diverse portfolio of product candidates in various stages of clinical development, including treatments for conditions such as osteogenesis imperfecta, Alpha-1 anti-trypsin deficiency, and different types of cancer. Among its leading candidates are etigilimab, an antibody designed for tumor treatment, and alvelestat, intended for Alpha-1 anti-trypsin deficiency. Founded in 2015, Mereo Biopharma Group plc is headquartered in London, United Kingdom, and its shares are listed on the NASDAQ.
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