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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.
Mereo Biopha-Adr
Mereo Biopha-Adr
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.