Mereo BioPharma Group plc announced full year 2025 financial results on March 19, 2026, reporting net loss of $41.9 million, R&D expenses of $17.8 million, G&A expenses of $23.0 million, and cash of $41.0 million as of December 31, 2025, providing runway into mid-2027. Updates include ongoing analyses of setrusumab Phase 3 data and progress on alvelestat and vantictumab programs.
Key takeaways
Net loss of $41.9 million for year ended December 31, 2025, compared to $43.3 million in 2024
Cash and cash equivalents of $41.0 million as of December 31, 2025, down from $69.8 million as of December 31, 2024
R&D expenses decreased to $17.8 million in 2025 from $20.9 million in 2024
G&A expenses decreased to $23.0 million in 2025 from $26.4 million in 2024
Phase 3 Orbit and Cosmic studies of setrusumab did not meet primary fracture rate endpoints but achieved statistical significance on bone mineral density secondary endpoint
Ongoing data analyses from setrusumab studies including subgroups ahead of regulatory interactions; cash runway into mid-2027