Earnings Releases·Nov 9, 2026, 8:10 AM ET

Mereo BioPharma — Third Quarter 2026 Earnings Summary

Total revenue reached $0.8 million in Q3 2026 compared to $0 in the prior year period, while net loss narrowed to $5.9 million from $7.0 million, driven by R&D expense reductions of $2.2 million and G&A expense reductions of $1.1 million.
Cash and cash equivalents declined to $26.1 million as of September 30, 2026, from $41.0 million at year-end 2025, though current liquidity is projected to fund operations into late 2027.
Management anticipates a "transformational 2027" with the Phase 3 alvelestat study expected to initiate in early 2027, pending an FDA trial design update before year-end.
Strategic partnerships include a Sentynl Therapeutics option agreement signed in August 2026 that could yield $40 million in upfront and R&D payments, plus up to $435 million in milestones, while āshibio leads vantictumab development with trials planned for the first half of 2028.