Mereo BioPharma Q2 net loss $12.3M; setrusumab studies fully enrolled, fracture rate cut 67%

Mereo BioPharma Group plc

2024-Q2 EPS reported -$0.03

Cash $87.4M as of June 30, 2024, including $50M June offering; runway into 2027.
Net loss $12.3M in Q2 2024 vs $1.8M in Q2 2023, driven by $9.0M milestone payment in prior year.
Phase 3 Orbit and Cosmic studies of setrusumab in OI fully enrolled by April 30, 2024.
Setrusumab reduced median annualized fracture rate by 67% (p=0.0014) over 16 months mean treatment.
R&D expenses $4.9M (+33% YoY); G&A expenses $7.9M (+$5.2M) on pre-commercial activity.

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