Quarterly ResultAug 11, 2026, 08:32 AM
Mereo BioPharma Q2 Loss $7M; Alvelestat Deal; Cash to late-2027
AI Summary
Mereo BioPharma Group plc reported a net loss of $7.0 million for the second quarter ended June 30, 2026, a significant reduction from $14.6 million in the prior year. The company announced an option and license agreement with Sentynl Therapeutics for alvelestat, which could provide $40 million in upfront and R&D payments. Mereo also updated its cash runway guidance, now expecting its $30.1 million cash balance to fund operations into late-2027.
Key Highlights
- Net loss for Q2 2026 was $7.0 million, down from $14.6 million in Q2 2025.
- Cash and cash equivalents were $30.1 million as of June 30, 2026.
- Cash runway extended into late-2027, excluding potential deal payments.
- Entered option and license agreement with Sentynl Therapeutics for alvelestat.
- Eligible for $40 million in upfront and R&D payments upon alvelestat option exercise.
- R&D expenses decreased by $3.6 million to $1.8 million in Q2 2026.
- G&A expenses decreased by $0.3 million to $5.2 million in Q2 2026.
- Engaging with regulatory agencies on potential path for setrusumab.
Price Impact
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