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Sep 30
Mereo Biopha-Adr Q3 2025 Earnings Report
Mereo BioPharma reported a narrower net loss in Q3 2025, driven by higher R&D investments in key pipeline programs and a modest decline in G&A expenses.
Key Takeaways
Mereo BioPharma posted a net loss of $7.0 million for Q3 2025, significantly reduced from the prior year. Increased R&D spending reflects continued development of setrusumab and alvelestat. Cash reserves stand strong at $48.7 million, with operations funded into 2027.
Net loss decreased to $7.0 million from $15.0 million year-over-year
R&D expenses rose to $4.3 million due to setrusumab and alvelestat program investments
G&A expenses slightly declined to $6.0 million
Cash position of $48.7 million expected to support operations through 2027
Mereo Biopha-Adr
Mereo Biopha-Adr
Forward Guidance
Mereo expects its cash reserves to fund operations, clinical trials, and capital expenditures into 2027, not accounting for potential partnership revenue.
Positive Outlook
- Cash runway expected to extend into 2027
- Setrusumab Phase 3 results expected by end of 2025
- Active partner discussions ongoing for alvelestat
- Retained European rights for vantictumab
- Pre-commercial efforts underway in Europe
Challenges Ahead
- No revenue reported for the quarter
- Continued operating losses
- High dependency on future partnership deals
- Decreasing cash reserves from prior year
- Foreign exchange gains not guaranteed to recur