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Mereo Biopha-Adr Q1 2025 Earnings Report
Mereo BioPharma reported its financial results for the first quarter ended March 31, 2025, highlighting continued progress in its Phase 3 Orbit study and a strong cash position.
Key Takeaways
Mereo BioPharma reported a net loss of $12.9 million for the first quarter of 2025, compared to a net loss of $9.0 million in the same period last year. The company's cash and cash equivalents stood at $62.5 million as of March 31, 2025, which is expected to fund operations into 2027. Progress continues in the Phase 3 Orbit study of setrusumab, with a read-out anticipated in mid-2025 or Q4 2025.
Net loss for Q1 2025 was $12.9 million, an increase from $9.0 million in Q1 2024.
Cash and cash equivalents were $62.5 million as of March 31, 2025, down from $69.8 million at the end of 2024.
The Phase 3 Orbit study for setrusumab is on track for a second interim analysis in mid-2025 or final analysis in Q4 2025.
Alvelestat is now Phase 3 ready, with start-up activities for the pivotal study ongoing and discussions with potential partners underway.
Mereo Biopha-Adr
Mereo Biopha-Adr
Forward Guidance
Mereo BioPharma anticipates 2025 to be a significant year with key milestones, including the read-out of the Phase 3 Orbit study. The company expects its current cash and cash equivalents to fund operations into 2027, excluding potential upfront payments from new partnerships.
Positive Outlook
- Phase 3 Orbit study of setrusumab remains on track for read-out in mid-2025 or Q4 2025.
- Continued investment in pre-commercial activities for setrusumab in Europe to enable a successful launch.
- Alvelestat is now Phase 3 ready, with start-up activities for the pivotal study ongoing.
- Ongoing discussions with multiple potential development and commercialization partners for alvelestat.
- Existing cash and cash equivalents are expected to fund operations into 2027.
Challenges Ahead
- Guidance does not include any potential upfront payments associated with a partnership for alvelestat.
- Guidance does not include any potential upfront payments from business development activity around non-core programs.
- The company's financial performance is subject to the inherent uncertainties of the clinical development process.
- Reliance on third parties for funding and conduct of clinical trials poses a risk.
- Dependence on patient enrollment in clinical trials and key executives could impact future developments.