Mereo BioPharma(MREO) - 2025 Q1 - Quarterly Results

Financial Performance - As of March 31, 2025, Mereo BioPharma had cash and cash equivalents of $62.5 million, down from $69.8 million as of December 31, 2024, with expectations to fund operations into 2027[9] - The net loss for Q1 2025 was $12.9 million, compared to a net loss of $9.0 million in Q1 2024, reflecting an operating loss of $11.2 million[8] - General and administrative expenses increased by $1.4 million to $7.3 million in Q1 2025, compared to $5.9 million in Q1 2024[7] - Total research and development (R&D) expenses decreased by $0.1 million to $3.9 million in Q1 2025, compared to $4.0 million in Q1 2024, primarily due to reduced expenses for alvelestat[6] Clinical Development - The Phase 3 Orbit study of setrusumab is on track for interim analysis in mid-2025 or final analysis in Q4 2025[2] - Alvelestat has received Orphan Designation from the European Commission for the treatment of alpha-1 antitrypsin deficiency-associated lung disease[5] - The company is finalizing trial start-up activities for alvelestat, which is now Phase 3 ready[2] Strategic Partnerships - Mereo is in discussions with multiple potential development and commercialization partners for its product candidates[5] Shareholder Information - Total ordinary shares issued as of March 31, 2025, were 795,001,444, with total ADS equivalents of 159,000,288[10] Cash Management - The company anticipates continued close management of its cash balance to support operations and clinical trials[2]