Mereo BioPharma Q2 net loss $14.6M; setrusumab Phase 3 data due year-end 2025

Mereo BioPharma Group plc

2025-Q2 EPS reported -$0.03 vs consensus -$0.02 ▼ miss (-79.6%)

Net loss of $14.6M in Q2 2025 vs $12.3M in Q2 2024; cash $56.1M as of June 30, 2025.
Phase 3 Orbit and Cosmic studies of setrusumab in OI on track for final analysis around year-end 2025.
DMC interim analysis in July 2025 confirmed acceptable safety for setrusumab; study continues to final analysis.
R&D expenses $5.4M (+$0.4M YoY) driven by setrusumab manufacturing; G&A down $2.4M to $5.5M.
Alvelestat partnering discussions ongoing; cash expected to fund operations into 2027.

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