MPH.L - Mereo BioPharma Group plc

LSE - LSE Delayed price. Currency in GBp
48.50
0.00 (0.00%)
At close: 2:13PM BST
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Previous close48.50
Open48.25
Bid47.00 x 0
Ask49.00 x 0
Day's range48.25 - 48.25
52-week range13.00 - 75.00
Volume31,041
Avg. volume743,149
Market cap164.276M
Beta (5Y monthly)0.49
PE ratio (TTM)N/A
EPS (TTM)-39.00
Earnings date29 Apr 2019
Forward dividend & yieldN/A (N/A)
Ex-dividend dateN/A
1y target est705.00
  • Globe Newswire

    Mereo BioPharma Strengthens Management Team; Appoints John Lewicki, PhD, as Chief Scientific Officer and Ann Kapoun, PhD, as SVP of Translational Research and Development

    LONDON and REDWOOD CITY, Calif., June 30, 2020 (GLOBE NEWSWIRE) -- Mereo BioPharma Group plc (NASDAQ: MREO, AIM: MPH), “Mereo” or “the Company”, a clinical-stage biopharmaceutical company focused on oncology and rare diseases, today announced the appointments of John Lewicki, PhD, as Chief Scientific Officer, and Ann Kapoun, PhD, as Senior Vice President (SVP) of Translational Research and Development. Drs. Lewicki and Kapoun join Mereo having previously served tenures at OncoMed Pharmaceuticals and were involved in the discovery and development of etigilimab (“Anti-TIGIT”), prior to the 2019 merger of OncoMed and Mereo BioPharma.“John and Ann bring invaluable expertise to Mereo as we prepare to advance etigilimab, our novel antibody against TIGIT, into a Phase 1b study in the fourth quarter of 2020,” said Dr. Denise Scots-Knight, Chief Executive Officer of Mereo. “John and Ann are seasoned leaders with a deep understanding of oncology drug development, and we are delighted to have them join us as we build the team to advance etigilimab.”“Having been closely involved in the discovery and development of etigilimab, I am thrilled to formally join Mereo to advance this potential best-in-class anti-TIGIT antibody,” said Dr. Lewicki. “I look forward to working closely with Ann and the entire Mereo team to advance etigilimab into a Phase 1b study later this year building on our current clinical data.”John Lewicki, PhD, as Chief Scientific Officer Most recently, Dr. Lewicki served as President, Chief Executive Officer and a member of the Board of Directors of OncoMed Pharmaceuticals prior to the 2019 merger with Mereo BioPharma. Dr. Lewicki joined OncoMed in 2004 as the company’s Senior Vice President of Research and Development before subsequently assuming additional leadership roles within Research and Development. Dr. Lewicki was named the company’s Executive Vice President and Chief Scientific Officer in 2009 and then became Executive Vice President, Research and Development in 2016. Earlier in his career, Dr. Lewicki served in various capacities at Scios, Inc., where as Vice President of Research, he managed the company's organization across diverse therapeutic areas. Among his achievements while at Scios was the co-discovery of human B-type natriuretic peptide and its development as an FDA-approved treatment for acute congestive heart failure. Dr. Lewicki received his PhD from U.C San Diego and has co-authored more than 70 research papers and over 30 issued patentsAnn Kapoun, PhD, as SVP of Translational Research and Development Dr. Kapoun joins Mereo with more than two decades of leadership in Research and Development advancing over 10 drug discoveries into IND and through early clinical development. She most recently served as SVP of R&D at ESCAPE Bio. Prior to joining ESCAPE, Dr. Kapoun served as SVP of Translational Medicine at OncoMed Pharmaceuticals where she oversaw the transition of the company’s drug discoveries into the clinic and executed multiple science-driven clinical biomarker programs. Dr. Kapoun previously held scientific leadership roles at ALZA and Scios Inc., a biopharma unit of Johnson & Johnson. She received her PhD at Howard Hughes Medical Institute, Indiana University and has co-authored more than 50 scientific publications and patents.About Mereo BioPharma Mereo BioPharma is a biopharmaceutical company focused on the development and commercialization of innovative therapeutics that aim to improve outcomes for oncology and rare diseases. Mereo’s lead oncology product candidate, etigilimab (“Anti-TIGIT”), has completed a Phase 1a dose escalation clinical trial in patients with advanced solid tumors and has been evaluated in a Phase 1b study in combination with nivolumab in select tumor types. Mereo’s rare disease product portfolio consists of setrusumab, which has completed a Phase 2b dose-ranging study in adults with osteogenesis imperfecta (“OI”), as well as alvelestat, which is being investigated in a Phase 2 proof-of-concept clinical trial in patients with alpha-1 antitrypsin deficiency (“AATD”).Additional Information The person responsible for arranging the release of this information on behalf of the Company is Charles Sermon, General Counsel.Forward-Looking Statements This Announcement contains "forward-looking statements." All statements other than statements of historical fact contained in this Announcement are forward-looking statements within the meaning of Section 27A of the United States Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the United States Securities Exchange Act of 1934, as amended (the "Exchange Act"). Forward-looking statements usually relate to future events and anticipated revenues, earnings, cash flows or other aspects of our operations or operating results. Forward-looking statements are often identified by the words "believe," "expect," "anticipate," "plan," "intend," "foresee," "should," "would," "could," "may," "estimate," "outlook" and similar expressions, including the negative thereof. The absence of these words, however, does not mean that the statements are not forward-looking. These forward-looking statements are based on the Company's current expectations, beliefs and assumptions concerning future developments and business conditions and their potential effect on the Company. While management believes that these forward-looking statements are reasonable as and when made, there can be no assurance that future developments affecting the Company will be those that it anticipates.All of the Company's forward-looking statements involve known and unknown risks and uncertainties (some of which are significant or beyond its control) and assumptions that could cause actual results to differ materially from the Company's historical experience and its present expectations or projections. The foregoing factors and the other risks and uncertainties that affect the Company's business, including those described in its Annual Report on Form 20-F, Reports on Form 6-K and other documents filed from time to time by the Company with the United States Securities and Exchange Commission (the "SEC") and those described in other documents the Company may publish from time to time should be carefully considered. The Company wishes to caution you not to place undue reliance on any forward-looking statements, which speak only as of the date hereof. The Company undertakes no obligation to publicly update or revise any of our forward-looking statements after the date they are made, whether as a result of new information, future events or otherwise, except to the extent required by law.Mereo BioPharma Contacts: Mereo+44 (0)333 023 7300 Denise Scots-Knight, Chief Executive Officer     Cantor Fitzgerald Europe (Nominated Adviser and Broker to Mereo)+44 (0)20 7894 7000 Phil Davies  Will Goode     Burns McClellan (US Investor Relations Adviser to Mereo)+01 (0) 212 213 0006 Lisa Burns  Steve Klass     FTI Consulting (UK Public Relations Adviser to Mereo) +44 (0)20 3727 1000 Simon Conway  Ciara Martin     Investorsinvestors@mereobiopharma.com

  • Globe Newswire

    Mereo BioPharma Announces Financial Results for the Year Ended December 31, 2019

    Operational progress, positioned for clinical milestones in oncology and rare diseasesLONDON and REDWOOD CITY, Calif., June 16, 2020 (GLOBE NEWSWIRE) -- Mereo BioPharma Group plc (NASDAQ: MREO, AIM: MPH), “Mereo” or “the Company”, a clinical-stage biopharmaceutical company focused on oncology and rare diseases, today announced financial results for the 12 months ended December 31, 2019. “We are very pleased with the substantial operational progress we have made throughout 2019 and particularly, over the past several months,” said Dr. Denise Scots-Knight, Chief Executive Officer of Mereo. “We announced earlier this month that we have taken the strategic decision to focus on advancing etigilimab, (an “Anti-TIGIT”) for the treatment of solid tumors, alongside our rare disease portfolio including setrusumab for osteogenesis imperfecta, which we plan to partner prior to the initiation of a pivotal Phase 3 study, and alvelestat for alpha-1 antitrypsin deficiency which is in an ongoing Phase 2 proof-of-concept study. Coupled with the completion of a $70 million financing earlier this month, we believe we are entering a transformational period for Mereo and are extremely well positioned to execute on our strategy.”2019 and Recent Financial Highlights * Cash resources¹ of £16.3 million as at December 31, 2019 (December 31, 2018 £27.5 million). Since the year end, Mereo has raised £60.8 million in Private Placements, £3.8 million from a convertible equity financing and £3.2 million from licensing. * Loss after tax for the 12-month period of £35.3 million (2018: £32.0 million) or 39 pence per ordinary share (2018: 45pence per ordinary share). * Net cash used in operating activities for the year ended December 31, 2019 of £45.9 million (full year 2018: £23.1 million).¹ Cash resources is defined as the aggregate of cash and short-term deposits and short-term investments.An electronic copy of Mereo’s annual report and accounts will be made available today on the Company's website www.mereobiopharma.com. In addition, a copy of the Form 20-F has been filed with the SEC. This press release does not constitute an offer to sell or the solicitation of an offer to buy securities, and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction.About Mereo BioPharma Mereo BioPharma is a biopharmaceutical company focused on the development and commercialization of innovative therapeutics that aim to improve outcomes for patients with oncology and rare diseases. Mereo's strategy is to selectively acquire product candidates for oncology and rare diseases that have already received significant investment from pharmaceutical and large biotechnology companies and that have substantial preclinical, clinical and manufacturing data packages. Mereo's lead oncology product candidate, etigilimab, an anti-TIGIT, has completed a Phase 1a and Phase 1b for a range of solid tumor types and the second product candidate, navicixizumab, for ovarian cancer has been licensed to Oncologie Inc. for up to $300M in milestone payments. Mereo's lead rare disease product candidate, setrusumab, has completed a Phase 2b dose-ranging study in adults with osteogenesis imperfecta ("OI") and a pivotal Phase 3 study design in paediatrics has been agreed with the FDA and EMA. Mereo's second lead product candidate, alvelestat, is being investigated in a Phase 2 proof-of-concept clinical trial in patients with alpha-1 antitrypsin deficiency ("AATD"). Mereo plans to form a strategic partnership for setrusumab prior to initiation of the paediatric pivotal study.Additional Information The person responsible for arranging the release of this information on behalf of the Company is Charles Sermon, General Counsel.Forward-Looking Statements This communication contains “forward-looking statements.” All statements other than statements of historical fact contained in this communication are forward-looking statements within the meaning of Section 27A of the United States Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the United States Securities Exchange Act of 1934, as amended (the “Exchange Act”). Forward-looking statements usually relate to future events and anticipated revenues, earnings, cash flows or other aspects of our operations or operating results. Forward-looking statements are often identified by the words “believe,” “expect,” “anticipate,” “plan,” “intend,” “foresee,” “should,” “would,” “could,” “may,” “estimate,” “outlook” and similar expressions, including the negative thereof. The absence of these words, however, does not mean that the statements are not forward-looking. These forward-looking statements are based on the Company’s current expectations, beliefs and assumptions concerning future developments and business conditions and their potential effect on the Company. While management believes that these forward-looking statements are reasonable as and when made, there can be no assurance that future developments affecting the Company will be those that it anticipates.All of the Company’s forward-looking statements involve known and unknown risks and uncertainties (some of which are significant or beyond its control) and assumptions that could cause actual results to differ materially from the Company’s historical experience and its present expectations or projections. The foregoing factors and the other risks and uncertainties that affect the Company’s business, including those described in its Annual Report on Form 20-F and other documents filed from time to time by the Company with the United States Securities and Exchange Commission and those described in other documents the Company may publish from time to time should be carefully considered. The Company wishes to caution you not to place undue reliance on any forward-looking statements, which speak only as of the date hereof. The Company undertakes no obligation to publicly update or revise any of our forward-looking statements after the date they are made, whether as a result of new information, future events or otherwise, except to the extent required by law.Mereo BioPharma Contacts: Mereo+44 (0)333 023 7300 Denise Scots-Knight, Chief Executive Officer     Cantor Fitzgerald Europe (Nominated Adviser and Broker to Mereo)+44 (0)20 7894 7000 Phil Davies  Will Goode     Burns McClellan (US Public Relations Adviser to Mereo)+01 (0) 212 213 0006 Lisa Burns  Steve Klass     FTI Consulting (UK Public Relations Adviser to Mereo)+44 (0)20 3727 1000 Simon Conway  Ciara Martin     Investorsinvestors@mereobiopharma.com

  • Neil Woodford's biotech investments to be sold for £224m
    Yahoo Finance UK

    Neil Woodford's biotech investments to be sold for £224m

    Woodford's Equity Income Fund was closed to withdrawals almost exactly a year ago, with the entire business collapsing months later.

  • Globe Newswire

    Mereo BioPharma Announces Completion of $70 Million Private Placement

    Plans to Develop Etigilimab (Anti-TIGIT) Alongside Rare Disease Product PortfolioLONDON and REDWOOD CITY, Calif., June 04, 2020 (GLOBE NEWSWIRE) -- Mereo BioPharma Group plc (NASDAQ: MREO, AIM: MPH) today announces the completion of a $70 million (£56 million) private placement (the “Fundraising”) with a number of new and existing U.S based institutional and accredited investors. OrbiMed led the Fundraising with participants including Vivo Capital, Surveyor Capital (a Citadel company), Pontifax Venture Capital, Samsara BioCapital, Commodore Capital, and funds managed by Janus Henderson Investors alongside existing investors Boxer Capital of Tavistock Group and Aspire Capital Fund, LLC. Highlights * Private placement completed raising $70.0 million (£56.0 million) before expenses. * New Ordinary Shares and Convertible Loan Notes issued provide the Company with certainty of receiving the full amount of the proceeds of the private placement at closing. * 89,144,630 new Ordinary Shares have been placed at the Issue Price to raise $19.4 million (£15.5 million) before expenses, utilising share authorities granted on 2 June 2016 and 19 June 2019 and issued on a non-pre-emptive basis. * Convertible Loan Notes have been issued in an aggregate principal amount $50.6 million (£40.5 million) to complete the Fundraising. * Price per Placing Share of 17.4 pence.  * Investors  have received conditional Warrants to subscribe for further Ordinary Shares in an aggregate number equal to 50 per cent of both the new Ordinary Shares purchased by that investor in the Placing and the Ordinary Shares issuable upon conversion of the Convertible Loan Notes purchased by that investor in the Fundraising, with an exercise price of 34.8 pence ($0.44) each. The Warrants will be capable of being exercised for a period of 3 years after the date on which the Resolutions are passed. * SVB Leerink acted as the exclusive placement agent to the Company in connection with the Fundraising.Mereo is also announcing today plans to advance etigilimab (Anti-TIGIT) into a Phase 1b study in Q4 2020 alongside progressing its rare disease product portfolio. This is based on the Company’s existing promising clinical data with etigilimab as well as the increasing interest in TIGIT as an immuno-oncology target. The Company intends to complete a strategic partnership for setrusumab for the treatment of osteogenesis imperfecta (“OI”) prior to initiation of the pivotal Phase 3 study and to complete the ongoing Phase 2 study of alvelestat for the treatment of alpha-1 antitrypsin deficiency (“AATD”), with topline data currently expected in 2H 2021.Dr. Denise Scots-Knight, Chief Executive Officer of Mereo, said, “We are delighted to have attracted the support of such a broad range of high-quality institutional investors. We are pleased to also be announcing today that we plan to progress etigilimab into a Phase 1b study and believe etigilimab has the potential to target a significant unmet need in oncology. We look forward to progressing etigilimab, setrusumab and alvelestat further and believe this Fundraising leaves Mereo extremely well placed to progress on our strategy.”Etigilimab (Anti-TIGIT)Etigilimab is an antibody against TIGIT (T-cell immunoreceptor with Ig and ITIM domains). TIGIT is a next generation checkpoint receptor shown to block T-cell activation and the body’s natural anti-cancer immune response. Etigilimab is an IgG1 monoclonal antibody which binds to the human TIGIT receptor on immune cells with a goal of improving the activation and effectiveness of T-cell and NK cell anti-tumor activity. Mereo completed a Phase 1a dose escalation clinical trial with etigilimab in patients with advanced solid tumors and enrolled patients in a Phase 1b study in combination with nivolumab in selected tumor types.23 patients were treated in the Phase 1a dose escalation study with doses up to 20mg/kg Q2W. Tumor types included colorectal cancer, endometrial cancer, pancreatic cancer and other tumor types. No dose limiting toxicities were observed. In the Phase 1b combination study, a total of ten patients, nine of whom had progressed on prior anti-PD1/PD-L1 therapies were enrolled at doses of 3, 10, and 20 mg/kg. Eight patients were evaluable for tumor growth assessment, and all of these patients had progressed on PD1/PD-L1 therapies with best responses including two patients with a partial response and stable disease. Patients remained on study for up to 224 days. No dose limiting toxicities (DLTs) were observed and the most common related adverse events included fatigue, rash, and pruritis.The CompanyMereo BioPharma is a biopharmaceutical company focused on the development and commercialization of innovative therapeutics that aim to improve outcomes for oncology and rare diseases. Mereo’s lead oncology product candidate, etigilimab (“Anti-TIGIT”), has completed a Phase 1a dose escalation clinical trial in patients with advanced solid tumors and has been evaluated in a Phase 1b study in combination with nivolumab in select tumor types. Mereo’s rare disease product portfolio consists of setrusumab, which has completed a Phase 2b dose-ranging study in adults with osteogenesis imperfecta (“OI”), as well as  alvelestat, which is being investigated in a Phase 2 proof-of-concept clinical trial in patients with alpha-1 antitrypsin deficiency (“AATD”).Additional Information The person responsible for arranging the release of this information on behalf of the Company is Charles Sermon, General Counsel.Forward-Looking Statements This Announcement contains "forward-looking statements." All statements other than statements of historical fact contained in this Announcement are forward-looking statements within the meaning of Section 27A of the United States Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the United States Securities Exchange Act of 1934, as amended (the "Exchange Act"). Forward-looking statements usually relate to future events and anticipated revenues, earnings, cash flows or other aspects of our operations or operating results. Forward-looking statements are often identified by the words "believe," "expect," "anticipate," "plan," "intend," "foresee," "should," "would," "could," "may," "estimate," "outlook" and similar expressions, including the negative thereof. The absence of these words, however, does not mean that the statements are not forward-looking. These forward-looking statements are based on the Company's current expectations, beliefs and assumptions concerning future developments and business conditions and their potential effect on the Company. While management believes that these forward-looking statements are reasonable as and when made, there can be no assurance that future developments affecting the Company will be those that it anticipates.All of the Company's forward-looking statements involve known and unknown risks and uncertainties (some of which are significant or beyond its control) and assumptions that could cause actual results to differ materially from the Company's historical experience and its present expectations or projections. The foregoing factors and the other risks and uncertainties that affect the Company's business, including those described in its Annual Report on Form 20-F, Reports on Form 6-K and other documents filed from time to time by the Company with the United States Securities and Exchange Commission (the "SEC") and those described in other documents the Company may publish from time to time should be carefully considered. The Company wishes to caution you not to place undue reliance on any forward-looking statements, which speak only as of the date hereof. The Company undertakes no obligation to publicly update or revise any of our forward-looking statements after the date they are made, whether as a result of new information, future events or otherwise, except to the extent required by law.Mereo's shareholders will be able to obtain a copy of the Circular (when available) from the Company's website at www.mereobiopharma.com.Mereo BioPharma Contacts: Mereo+44 (0)333 023 7300 Denise Scots-Knight, Chief Executive Officer     Cantor Fitzgerald Europe (Nominated Adviser and Broker to Mereo)+44 (0)20 7894 7000 Phil Davies  Will Goode     Burns McClellan (US Public Relations Adviser to Mereo)+01 (0) 212 213 0006 Lisa Burns  Steve Klass     FTI Consulting (UK Public Relations Adviser to Mereo) +44 (0)20 3727 1000 Simon Conway  Ciara Martin     Investorsinvestors@mereobiopharma.com

  • Globe Newswire

    Mereo BioPharma Announces Interim Financial Results for the Six Months Ended June 30, 2019 and Provides Corporate Update

    12-Month Topline Results from Phase 2b ASTEROID Study with Setrusumab for Osteogenesis Imperfecta (OI) Expected in Q4 2019; Positive 6-Month Data to be Featured in Late-Breaking Oral Presentation at ASBMR 2019 Conference Call Today at 8:30 a.m. EDT / 1:30 p.m. BST LONDON and REDWOOD CITY, Calif., Sept. 17, 2019 (GLOBE NEWSWIRE) -- Mereo BioPharma Group plc (NASDAQ: MREO, AIM: MPH), a clinical stage biopharmaceutical company focused on rare diseases, today announces unaudited interim financial results for the six months ended June 30, 2019 and provides a corporate update.“The first half of 2019 has been notable for the announcement of positive six-month data for our Phase 2b ASTEROID trial which is evaluating setrusumab as a treatment for OI. We are entering another exciting period with the 12-month data from this study expected in Q4 2019 and proof-of-concept data from our Phase 2 study for alvelestat in severe alpha-1 antitrypsin deficiency expected in mid-2020,” said Dr. Denise Scots-Knight, Chief Executive Officer of Mereo. “While our mission remains to provide new therapies for undertreated, chronically debilitating and life-limiting rare diseases, the proposed evaluation of alvelestat in the orphan disease bronchiolitis obliterans syndrome also strengthens our respiratory focus. We continue to advance discussions with potential partners to optimize the value of our broader product portfolio.”Recent Highlights and Upcoming MilestonesSetrusumab for Osteogenesis Imperfecta (OI) * 12-month data from Phase 2b ASTEROID study in adult OI patients expected in Q4 2019. In May 2019, Mereo reported positive 6-month interim data from the fully-enrolled ASTEROID study. These data were accepted for a late-breaking oral presentation at the upcoming American Society for Bone and Mineral Research (ASBMR) 2019 Annual Meeting to be held from September 20-23 in Orlando, FL, USA. The Company expects to report 12-month topline data from the blinded portion of the study in Q4 2019. There are currently no FDA or EMA-approved treatments for OI. * Pivotal pediatric study ready in the EU and Canada. In addition to evaluating setrusumab in adult OI patients, Mereo’s Paediatric Investigation Plan (PIP) has been approved by the EMA and a study design has been agreed for a pivotal registration trial in children. Mereo is also exploring an extension of the planned pivotal study into the U.S. Alvelestat for Severe Alpha-1 Antitrypsin Deficiency (AATD) * Enrollment continuing for the Phase 2 proof-of-concept study in severe AATD patients with topline data expected in mid-2020. If the results are positive, Mereo intends to commence a pivotal trial in the EU and the U.S. in AATD as soon as possible therafter. * Investigator-sponsored clinical studies underway in AATD and also in bronchiolitis obliterans syndrome (BOS) as a result of graft-versus-host disease (GvHD) in patients undergoing hematopoietic stem cell transplantation (HSCT).  BOS is an orphan disease characterized by inflammatory obstruction of the lung's tiniest airways and is the primary cause of death in patients who receive lung transplants. Based on the preliminary clinical data to-date, Mereo intends to investigate the use of alvelestat to treat patients with BOS following a lung transplant.Partnering Discussions Continue for Broad Portfolio of Clinical-Stage Programs * Leflutrozole for Hypogonadotropic Hypogonadism (HH). Following the positive Phase 2b and six-month extension data reported in 2018, earlier this year Mereo held an advisory board to consider the future development strategy for leflutrozole, with a focus on the positive effects on semen parameters. Mereo has decided that future product development will focus on male fertility.   * Acumapimod for Acute Exacerbations of Chronic Obstructive Pulmonary Disease (AECOPD) is Phase 3-ready following a successful Type B End of Phase 2 meeting with the FDA and agreed outline for a pivotal Phase 3 clinical trial program. Recently, a positive Scientific Advice Working Party (SAWP) also took place with the EMA.   * Navicixizumab for Advanced Platinum-Resistant Ovarian Cancer. In July 2019, Mereo held a successful Type B End of Phase 1 meeting with the FDA regarding a potential pathway for accelerated approval for navicixizumab for the treatment of patients with advanced ovarian cancer. Mereo and the FDA discussed, and agreed in principle, an outline for the design of a Phase 2 clinical trial that could potentially support the accelerated approval of navicixizumab in patients with ovarian cancer (including peritoneal or fallopian tube cancer) who have become resistant to prior therapies.   * Etigilimab for Advanced Solid Tumors. Etigilimab has completed a Phase 1a/b trial of etigilimab, administered as either a single-agent or in combination with nivolumab, in patients with advanced or metastatic solid tumors.Corporate * In April 2019, Mereo completed a merger with OncoMed Pharmaceuticals, Inc. (“OncoMed”), acquiring two clinical stage oncology programs - navicixizumab and etigilimab. * Following completion of the acquisition of OncoMed, Michael Wyzga and Deepa Pakianathan, Ph.D. were appointed as Non-Executive Directors to the Mereo Board. * In August 2019, Mereo appointed Richard Francis as Head of Pharmaceutical Development. * In September 2019, Dr. Arun Mistry appointed as Therapeutic Area Head, Setrusumab.Financial Highlights * Cash resources¹ of £36.1m as at June 30, 2019 (June 30, 2018 £36.9m) * Loss after tax for the six-month period of £16.2m (2018: £17.0m) or 22 pence per ordinary share (2018: 24 pence per ordinary share) * American Depositary Receipts (“ADRs”) commenced trading on the NASDAQ Global Market on April 24, 2019 with the issue of 4.9m ADR’s each represented by 5 ordinary shares¹ Cash resources is defined as the aggregate of cash and short-term deposits and short-term investmentsConference Call Information Mereo will host a live conference call and webcast today at 8:30 a.m. EDT / 1:30 p.m. BST to discuss the Company’s financial results and provide a corporate update. To participate in the conference call, please dial (866) 688-2942 (U.S.) or (561) 569-9224 (U.K./International). The conference ID number is 4572478. A live and archived webcast may be accessed by visiting the Investors sections of the Company’s website at https://www.mereobiopharma.com/investors/results-reports-and-presentations/. The archived webcast will remain available on the Company's website for fourteen (14) days following the live call.About Mereo BioPharma Mereo BioPharma is a biopharmaceutical company focused on the development and commercialization of innovative therapeutics that aim to improve outcomes for patients with rare diseases. Mereo's strategy is to selectively acquire product candidates for rare diseases that have already received significant investment from pharmaceutical and large biotechnology companies and that have substantial preclinical, clinical and manufacturing data packages. Mereo’s lead rare disease product candidate, setrusumab, is being developed for the treatment of osteogenesis imperfecta (OI) with topline 12-month results from a Phase 2b dose ranging study expected in Q4 2019. Mereo’s second lead product candidate, alvelestat, is being investigated in a Phase 2 proof-of-concept clinical trial in patients with alpha-1 antitrypsin deficiency (AATD) with topline data expected in mid-2020.Mereo’s broader pipeline consists of four additional clinical-stage product candidates; acumapimod for the treatment of acute exacerbations of chronic obstructive pulmonary disease (“AECOPD”), leflutrozole for the treatment of hypogonadotropic hypogonadism (“HH”) in obese men, navicixizumab for the treatment of platinum-resistant ovarian cancer, and etigilimab for patients with advanced or metastatic solid tumors.Forward-Looking Statements This document contains “forward-looking statements.” All statements other than statements of historical fact contained in this presentation are forward-looking statements within the meaning of Section 27A of the United States Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the United States Securities Exchange Act of 1934, as amended (the “Exchange Act”). Forward-looking statements usually relate to future events and anticipated revenues, earnings, cash flows or other aspects of our operations or operating results. Forward-looking statements are often identified by the words “believe,” “expect,” “anticipate,” “plan,” “intend,” “foresee,” “should,” “would,” “could,” “may,” “estimate,” “outlook” and similar expressions, including the negative thereof. The absence of these words, however, does not mean that the statements are not forward-looking. These forward-looking statements are based on the Company’s current expectations, beliefs and assumptions concerning future developments and business conditions and their potential effect on the Company. While management believes that these forward-looking statements are reasonable as and when made, there can be no assurance that future developments affecting the Company will be those that it anticipates.  Factors that could cause actual results to differ materially from those in the forward-looking statements include risks relating to unanticipated costs, liabilities or delays; failure or delays in research and development programs; unanticipated changes relating to competitive factors in the Company’s industry; risks relating to expectations regarding the Company’s capitalization, resources and ownership structure; the availability of sufficient resources for company operations and to conduct or continue planned clinical development programs; the outcome of any legal proceedings; risks related to the ability to correctly estimate operating expenses; risks related to the ability to project future cash utilization and reserves needed for contingent future liabilities and business operations; risks related to the changes in market prices of the Company’s ordinary shares; the Company’s ability to hire and retain key personnel; changes in law or regulations affecting the Company; international, national or local economic, social or political conditions that could adversely affect the Company and its business; conditions in the credit markets; risks associated with assumptions the Company makes in connection with its critical accounting estimates and other judgments. All of the Company’s forward-looking statements involve risks and uncertainties (some of which are significant or beyond its control) and assumptions that could cause actual results to differ materially from the Company’s historical experience and its present expectations or projections. The foregoing factors and the other risks and uncertainties that affect the Company’s business, including those described in its Annual Report on Form 20-F, Reports on Form 6-K and other documents filed from time to time by the Company with the United States Securities and Exchange Commission (the “SEC”) and those described in other documents the Company may publish from time to time should be carefully considered. The Company wishes to caution you not to place undue reliance on any forward-looking statements, which speak only as of the date hereof. The Company undertakes no obligation to publicly update or revise any of our forward-looking statements after the date they are made, whether as a result of new information, future events or otherwise, except to the extent required by law. Further Enquiries     Mereo+44 (0)333 023 7300 Denise Scots-Knight, Chief Executive Officer  Richard Jones, Chief Financial Officer     Cantor Fitzgerald Europe (Nominated Adviser and Broker to Mereo)+44 (0)20 7894 7000 Phil Davies  Will Goode     Burns McClellan (US Public Relations Adviser to Mereo)  Lisa Burns+01 (0) 212 213 0006 Steve Klass     FTI Consulting (UK Public Relations Adviser to Mereo)  Simon Conway  Brett Pollard+44 (0)20 3727 1000 Ciara Martin  Consolidated statement of comprehensive loss for the six months ended June 30, 2019 NotesSix months ended June 30, 2019 Unaudited £Six months ended June 30, 2018 Unaudited £Year ended December 31, 2018 Audited £ Research and development expenses (11,918,484)(10,864,310)(22,703,553) Administrative expenses (6,461,759)(7,101,760)(12,504,887) Operating loss (18,380,243)(17,966,070)(35,208,440) Net income recognised on acquisition of subsidiary41,035,379—— Finance income 137,014151,467306,831 Finance charge (1,454,222)(1,587,150)(2,360,648) Net foreign exchange gain/(loss) (20,127)49,305(43,863) Loss before tax  (18,682,199)(19,352,448)(37,306,120) Taxation 2,458,5672,364,9045,277,380 Loss for the period, attributable to equity holders of the parent (16,223,632)(16,987,544)(32,028,740) Basic and diluted loss per share for the period (0.22)(0.24)(0.45)       Other comprehensive income / (loss) Items that may be subsequently reclassified to the income statement      Fair value changes on investments held at fair value through OCI 88,033—— Currency translation of foreign operations 710,830—— Total comprehensive loss for the period, attributable to equity holders of the parent (15,424,769)(16,987,544)(32,028,740) Consolidated balance sheet as at June 30, 2019 NotesJune 30, 2019 Unaudited £June 30, 2018 Unaudited £December 31, 2018 Audited £ Assets     Non-current assets     Property, plant and equipment513,100,261151,996148,935 Intangible assets645,156,70832,690,22932,632,229   58,256,96932,842,22532,781,164 Current assets     Prepayments 3,068,3261,225,7441,066,932 R&D tax credits 7,744,63410,516,9895,277,380 Other receivables 1,953,886584,821608,893 Short-term investments 7,828,0662,500,0002,500,000 Cash and short-term deposits 28,289,50434,412,36325,041,945   48,884,41649,239,91734,495,150 Total assets 107,141,38582,082,14267,276,314 Equity and liabilities     Equity     Issued capital8293,879213,435213,721 Share premium8121,684,154118,369,523118,492,073 Other capital reserves858,003,84717,746,03118,592,618 Employee Benefit Trust shares11(1,304,842)—(306,838) Other reserves 7,000,0007,000,0007,000,000 Accumulated losses (127,356,393)(96,179,599)(111,220,794) Translation reserve 710,830—— Total equity 59,031,47547,149,39032,770,780 Non-current liabilities     Provisions91,926,9163,993,0582,641,353 Interest-bearing loans and borrowings711,720,99915,260,75314,646,753 Other liabilities 34,289—34,289 Warrant liability10225,4731,534,9641,005,613 Lease liability 13,138,521——   27,046,19820,788,77518,328,008 Current liabilities     Trade and other payables 6,758,2354,983,6264,570,307 Accruals 5,960,6843,222,9824,437,321 Provisions9333,556293,000332,014 Interest-bearing loans and borrowings78,011,2375,644,3696,837,884   21,063,71214,143,97716,177,526 Total liabilities 48,109,91034,932,75234,505,534 Total equity and liabilities 107,141,38582,082,14267,276,314

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