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Jun 30, 2024
Mereo Biopha-Adr Q2 2024 Earnings Report
Financial results for the second quarter of 2024 were announced and a corporate update was provided.
Key Takeaways
Mereo BioPharma reported a net loss of $12.3 million for the second quarter of 2024. Cash and cash equivalents totaled $87.4 million as of June 30, 2024, expected to fund operations into 2027. Phase 3 studies of setrusumab in OI were fully enrolled and positive Phase 2 data was announced.
Phase 3 Orbit and Cosmic studies of setrusumab in OI fully enrolled.
Positive 14-month results from the Phase 2 portion of the Orbit study demonstrated a continued reduction in fracture rates.
Treatment with setrusumab resulted in ongoing improvements in lumbar spine bone mineral density.
Cash and cash equivalents of $87.4 million as of June 30, 2024, are expected to fund operations into 2027.
Forward Guidance
Mereo BioPharma expects its existing cash and cash equivalents balance will enable it to fund its currently committed clinical trials, operating expenses including pre-commercial activities for setrusumab, and capital expenditure requirements into 2027.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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