Mereo BioPharma Q1 net loss $12.9M; setrusumab Phase 3 Orbit on track for mid-year readout

Mereo BioPharma Group plc

2025-Q1 EPS reported -$0.02

Net loss widened to $12.9M (Q1 2024: $9.0M) on operating loss of $11.2M.
Cash and equivalents $62.5M at March 31, 2025, down from $69.8M at year-end; runway into 2027.
R&D expenses $3.9M, flat YoY; setrusumab costs increased $1.3M offset by alvelestat decrease.
Phase 3 Orbit study of setrusumab in OI on track for second interim mid-2025 or final Q4 2025.
Alvelestat granted EU orphan designation for alpha-1 antitrypsin deficiency lung disease.

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