Mereo BioPharma Group plc
Business
Mereo BioPharma Group plc is a biopharmaceutical company focused on developing innovative therapeutics for rare diseases. The company's late-stage candidates are setrusumab for osteogenesis imperfecta (developed with partner Ultragenyx) and alvelestat for severe alpha-1 antitrypsin deficiency-associated lung disease. Mereo also has an early-stage program, vantictumab, for autosomal dominant osteopetrosis Type 2, with development led by partner āshibio while Mereo retains European commercial rights. The company does not operate manufacturing or commercialization infrastructure and pursues strategic partnerships with large pharmaceutical companies.
Summary from 10-K filed 2026-03-19
Financials
Consolidated Statement of Income
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 |
|---|---|---|---|---|---|
| Revenue | 500,000 | 0 | 10 | 0 | |
| Cost of Revenue | −133,000 | 0 | −3 | 1 | |
| Research and development | −18 | −21 | −17 | −29 | |
| General and administrative | −23 | −26 | −18 | −26 | |
| Other income | 300,000 | 0 | −10,000 | 1 | |
| Loss from operations | −40 | −47 | −28 | −54 | |
| Interest income | 2 | 3 | 2 | 840,000 | |
| Interest expense | −255,000 | −1 | −3 | −4 | |
| Changes in the fair value of warrants | 805,000 | −419,000 | 245,000 | 9 | |
| Foreign currency transaction (loss)/gain, net | −6 | 1 | −2 | 3 | |
| Benefit from research and development tax credit | 2 | 2 | 1 | 2 | |
| Net loss before income tax | −42 | −43 | −30 | −43 | |
| Income tax benefit | 0 | 0 | 532,000 | 718,000 | |
| Net loss | −42 | −43 | −29 | −42 | |
| Loss per share - basic | −0.05 | −0.06 | −0.04 | −0.07 | |
| Loss per share - diluted | −0.05 | −0.06 | −0.04 | −0.07 | |
| Weighted average shares outstanding - basic | 797 | 740 | 659 | 603 | |
| Weighted average shares outstanding - diluted | 797 | 740 | 659 | 603 | |
| Other comprehensive income/(loss) - Foreign currency translation adjustments, net of tax | 8 | −1 | 4 | −11 | |
| Total comprehensive loss | −34 | −45 | −25 | −53 |
Consolidated Balance Sheet
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Cash and cash equivalents | 41 | 70 | 57 | 68 | — | |
| Prepaid expenses and other current assets | 3 | 2 | 5 | 5 | — | |
| Research and development incentives receivables | 1 | 3 | 1 | 2 | — | |
| Total current assets | 45 | 75 | 64 | 75 | — | |
| Property and equipment, net | 137,000 | 257,000 | 405,000 | 551,000 | — | |
| Operating lease right-of-use assets, net | 244,000 | 727,000 | 1 | 2 | — | |
| Intangible assets, net | 516,000 | 643,000 | 1 | 0 | — | |
| Total assets | 46 | 76 | 66 | 77 | — | |
| Accounts payable | 1 | 2 | 2 | 3 | — | |
| Accrued expenses | 2 | 4 | 5 | 5 | — | |
| Convertible loan notes - current | 0 | 6 | 0 | 13 | — | |
| Operating lease liabilities - current | 202,000 | 707,000 | 652,000 | 564,000 | — | |
| Other current liabilities | 741,000 | 1 | 1 | 1 | — | |
| Total current liabilities | 4 | 14 | 9 | 24 | — | |
| Warrant liabilities - non current | 38,000 | 821,000 | 412,000 | 157,000 | — | |
| Operating lease liabilities- non current | 0 | 187,000 | 906,000 | 1 | — | |
| Other non-current liabilities | 661,000 | 565,000 | 764,000 | 0 | — | |
| Total liabilities | 5 | 15 | 16 | 26 | — | |
| Commitments and contingencies (Note 17) | — | — | — | — | — | |
| Ordinary shares, par value 0.003 per share; 795,658,504 shares issued at December 31, 2025 (December 31, 2024: 775,728,034) | 3 | 3 | 3 | 2 | — | |
| Additional paid-in capital | 550 | 540 | 486 | 477 | — | |
| Accumulated deficit | −501 | −463 | −420 | −405 | — | |
| Accumulated other comprehensive loss | −11 | −19 | −17 | −22 | — | |
| Total shareholders' equity | 41 | 61 | 51 | 51 | 92 | |
| Total liabilities and shareholders' equity | 46 | 76 | 66 | 77 | — |
Consolidated Statement of Cash Flows
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 |
|---|---|---|---|---|---|
| Share-based compensation | 8 | 7 | 5 | 5 | |
| Depreciation | 200,000 | 100,000 | 200,000 | 200,000 | |
| Amortization of intangible assets | 465,000 | 438,000 | 395,000 | 0 | |
| Amortization of operating lease right-of-use assets | 527,000 | 507,000 | 495,000 | 700,000 | |
| Change in fair value of warrants | −805,000 | 419,000 | −245,000 | −9 | |
| Non-cash interest income | −104,000 | 0 | — | — | |
| Non-cash interest expense | 228,000 | 1 | 2 | 4 | |
| Foreign currency transaction loss/(gain) | 6 | −1 | 2 | −3 | |
| Other income | −300,000 | 0 | — | — | |
| Non-cash consideration, milestone payment | 0 | 2 | 0 | −2 | |
| Prepaid expenses and other current assets | −84,000 | 3 | 502,000 | 532,000 | |
| Research and development incentives receivable | 1 | −2 | 456,000 | −3 | |
| Accounts payable | −1 | 146,000 | −1 | 617,000 | |
| Accrued expenses and other liabilities | −2 | −1 | −710,000 | 844,000 | |
| Operating lease liabilities | −743,000 | −654,000 | −578,000 | −878,000 | |
| Net cash used in operating activities | −31 | −33 | −21 | −49 | |
| Purchase of intangible assets | −300,000 | −699,000 | −419,000 | 0 | |
| Purchase of property and equipment | −20,000 | 0 | 0 | −13,000 | |
| Proceeds from out-licensing | 300,000 | 0 | 0 | 2 | |
| Net cash used in investing activities | −20,000 | −699,000 | −419,000 | 2 | |
| Proceeds from exercise of warrants | 487,000 | 0 | — | — | |
| Proceeds from issuance of ordinary shares | 39,000 | 47 | 12 | 0 | |
| Transaction costs on issuance of ordinary shares | −199,000 | −853,000 | −511,000 | 0 | |
| Net cash provided by financing activities | 327,000 | 46 | 8 | 200,000 | |
| (Decrease)/increase in cash and cash equivalents | −31 | 13 | −14 | −47 | |
| Effect of exchange rate changes | 2 | −233,000 | 3 | −13 | |
| Cash paid for interest | 29,000 | 21,000 | 884,000 | 24,000 |
Filings
Material Events
Insiders
Institutional Holders
Frequently asked questions
What is Mereo BioPharma Group plc's CIK number?
Mereo BioPharma Group plc's SEC CIK number is 0001719714 (1719714). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.
Where can I find Mereo BioPharma Group plc's SEC filings?
All of Mereo BioPharma Group plc's EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.
When did Mereo BioPharma Group plc last report earnings?
Mereo BioPharma Group plc (MREO) most recently filed an earnings 8-K with the SEC on Mar 19, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001193125-26-115211). This is Mereo BioPharma Group plc's most recent earnings filing of record — not a forecast of its next earnings date.
What is Mereo BioPharma Group plc's most recent earnings 8-K?
Mereo BioPharma Group plc's latest earnings 8-K (Item 2.02) was filed Mar 19, 2026 under accession 0001193125-26-115211. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.
View Mereo BioPharma Group plc's latest earnings 8-K →
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