Mereo BioPharma reports setrusumab Phase 3 miss; extends cash runway to mid-2027

Mereo BioPharma Group plc

Cash and equivalents $41M as of Dec 31, 2025; reduced pre-commercial spend extends runway to mid-2027.
Setrusumab Phase 3 Orbit/Cosmic missed primary fracture-rate endpoints; BMD secondary endpoint met (p<0.001).
Alvelestat Phase 3 plan: single 220-patient trial over 18 months; partnering discussions ongoing.
Vantictumab out-licensed to ashibio for ADO2; Phase 2 expected 2H 2026; Mereo retains EU rights.
No approved OI therapies in US/EU except Italy's neridronate; high unmet need remains.

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