UK's Mereo BioPharma Q2 loss narrows on lower R&D spending
MREO•Cash position and outlook
Cash and cash equivalents fell to $30.1 million, which the company expects to fund operations into late-2027, excluding potential alvelestat option payments.
Mereo and Ultragenyx expect an update on the setrusumab regulatory path by year-end 2026. If Sentynl Therapeutics exercises its option, a global Phase 3 trial of alvelestat could begin in early 2027.
Q2 loss narrows on lower spending
UK rare disease drug developer Mereo BioPharma said its second-quarter net loss narrowed year on year due to lower research and development and general and administrative expenses.
The company said R&D expenses fell because of reduced investment in setrusumab and completion of preparatory work for alvelestat. It attributed lower G&A expenses to reduced investment in pre-commercial activities for setrusumab and other cost savings.
Lower net foreign currency translation loss also contributed to the narrower net loss.
Agreement with Sentynl and reported results
The company entered an option and license agreement with Sentynl Therapeutics for alvelestat therapy.
Key details
| Metric | Actual |
|---|---|
| Q2 Net Loss | $7.005 million |
| Q2 Operating Income | -$7.03 million |
| Q2 Pretax Loss | $7.005 million |
Company press release: ID:nGNX7ZdvVx
