Healthcare · Biotechnology
Price
$0.30
Market Cap
$47.3M
Employees
36
Beta
0.28
Avg Volume
3,393,993
CEO
Denise Vera Scots-Knight
Business Description
Mereo BioPharma Group plc, a London-based biopharmaceutical firm established in 2015, specializes in developing and commercializing innovative therapies for oncology and rare conditions. Operating both in the United Kingdom and internationally, the company boasts a diverse product pipeline. Its primary oncology asset, etigilimab (OMP-313M32), an antibody T-cell immunoreceptor, is presently undergoing Phase 1b clinical investigation for tumor treatment. Another cancer compound, Navicixizumab (OMP-305B83), has already concluded its Phase 1b clinical studies for patients battling late-stage ovarian cancer. Beyond cancer, Mereo is advancing several other promising candidates. These include Acumapimod (BCT-197), a p38 MAP kinase inhibitor, which is currently in Phase II clinical trials for addressing acute exacerbations of chronic obstructive pulmonary disease. Additionally, Leflutrozole (BGS-649), an oral aromatase inhibitor, is being developed to manage hypogonadotropic hypogonadism. Within its rare disease portfolio, Mereo features Setrusumab (BPS-804), a novel antibody designed to treat osteogenesis imperfecta, and Alvelestat (MPH-966), an oral small molecule in Phase II clinical trials for Alpha-1 antitrypsin deficiency. To bolster its research, Mereo BioPharma collaborates with The University of Texas MD Anderson Cancer Center, focusing on the evaluation of its anti-TIGIT therapeutic antibody candidate, etigilimab.
Business History
Price History (1 Year)
Revenue & Net Income Trend
The directional story — useful even when net income is negative.
Revenue
The top line — total sales before any costs or taxes are subtracted. A measure of how much business the company is doing.
Net Income
The bottom line — profit left after subtracting all expenses, interest, and taxes from revenue. Reflects accounting profitability, but includes non-cash items like depreciation, so it isn't the same as cash earned.
Operating Cash Flow
The real cash generated by the day-to-day business — selling products, paying suppliers, collecting from customers. Calculated from net income by adding back non-cash items and adjusting for timing (unpaid bills, unsold inventory). When OCF consistently lags net income, the reported profit may not be converting to real money.
| Period | Revenue | Net Income | Net Margin | YoY/QoQ |
|---|
Key Metrics
API Direct from provider
CALC Derived from statements
P/E Ratio (Price per dollar of earnings)
CALCStock Price / EPS (Diluted)
-1.14
Stock Price: $0.30
EPS (Diluted): -0.26
EPS (Diluted): -0.26
P/B Ratio (Price vs net asset value)
APIStock Price / Book Value Per Share
1.62
Stock Price: $0.30
Total Equity: $40.92M
Shares: 159,423,926
Total Equity: $40.92M
Shares: 159,423,926
EV/EBITDA (Total value vs operating profit)
APIEnterprise Value / EBITDA
-0.28
Market Cap: $47.34M
Total Debt: $0.00
Cash: $40.99M
EBITDA: -$40.47M
Total Debt: $0.00
Cash: $40.99M
EBITDA: -$40.47M
Enterprise Value (Takeover price (cap + debt - cash))
APIMarket Cap + Total Debt - Cash
$25.6M
Market Cap: $47.34M
Total Debt: $0.00
Cash: $40.99M
Total Debt: $0.00
Cash: $40.99M
P/S Ratio (Price per dollar of revenue)
APIStock Price / Revenue Per Share
132.86
Stock Price: $0.30
Revenue: $500,000
Shares: 159,423,926
Revenue: $500,000
Shares: 159,423,926
EV/Sales (Total value vs revenue — works when P/E can't)
API51.28
Gross Margin (Revenue left after direct costs)
APIGross Profit / Revenue
73.4%
Gross Profit: $367,000
Revenue: $500,000
Revenue: $500,000
Operating Margin (Revenue left after all operations)
APIOperating Income / Revenue
-7,651.4%
Operating Income: -$38.26M
Revenue: $500,000
Revenue: $500,000
Net Margin (Revenue left as actual profit)
APINet Income / Revenue
-8,375.6%
Net Income: -$41.88M
Revenue: $500,000
Revenue: $500,000
ROE (Profit from shareholder equity)
APINet Income / Total Equity
-81.3%
Net Income: -$41.88M
Total Equity: $40.92M
Total Equity: $40.92M
ROIC (Profit from all invested capital)
APINOPAT / Invested Capital
-109.1%
Operating Income: -$38.26M
Tax Rate: 0.0%
Equity: $40.92M
Total Debt: $0.00
Cash: $40.99M
Tax Rate: 0.0%
Equity: $40.92M
Total Debt: $0.00
Cash: $40.99M
Zero debt — invested capital = equity minus cash (very efficient)
Current Ratio (Can it pay short-term bills)
APICurrent Assets / Current Liabilities
10.46
Current Assets: $45.02M
Current Liabilities: $4.30M
Current Liabilities: $4.30M
Debt/Equity (Leverage — debt vs equity)
CALCTotal Debt / Total Equity
0.00
Short-Term Debt: $0.00
Long-Term Debt: $0.00
Total Debt: $0.00
Total Equity: $40.92M
Long-Term Debt: $0.00
Total Debt: $0.00
Total Equity: $40.92M
Zero debt — this company carries no debt obligations. Strongest possible score.
Rev/Share (Top-line per share)
CALCRevenue / Shares Outstanding
$0.00
Revenue: $500,000
Shares: 159,423,926
Shares: 159,423,926
Book Value/Share (Net assets per share)
CALC(Total Assets - Total Liabilities) / Shares
$0.26
Total Equity: $40.92M
Shares: 159,423,926
Shares: 159,423,926
FCF/Share (Real cash generated per share)
CALC(Operating Cash Flow + CapEx) / Shares
$-0.19
Operating CF: -$30.97M
CapEx: -$20,000
Shares: 159,423,926
CapEx: -$20,000
Shares: 159,423,926
CapEx is negative (outflow) — added to OCF to get FCF
Div Yield (Annual income from holding)
APILast Annual Dividend / Stock Price
0.0%
Last Dividend: N/A
Stock Price: $0.30
Stock Price: $0.30
Payout Ratio (Earnings paid out as dividends)
Dividends Paid / Net Income
—
Dividends Paid: N/A
Net Income: -$41.88M
Net Income: -$41.88M
Dividends paid not available in cash flow statement
Industry Benchmarks
Compares MREO against LLM-researched typical ranges for its
industry. One research call per industry, cached indefinitely — every stock in the same industry
reuses the same baseline.
Deep Analysis
Pre-flight intelligence scans the company first, then routes to the right analytical methods.
0
Company Classification
— What type of company is this?
1
Industry Landscape
— Where is the industry headed?
2
Company Momentum
— Where is this company trending?
3
Forward Projection
— 1Y & 2Y projected metrics (requires Layer 1 + 2)
4a
DCF Valuation
— Present value of future cash flows
4b
Earnings Power Value
— Floor value — worth with zero growth
4c
Anchored PE
— Industry PE adjusted for growth differential
4d
Reverse DCF
— What growth is the market pricing in?
4e
Revenue-Based DCF
— For growth/narrative companies (skip if mature earner)
4f
Anchored P/S
— Price-to-Sales peer comparison (skip if mature earner)
4g
Scenario Analysis
— Bull / Base / Bear (skip if mature earner)
4h
Dividend Discount Model
— For dividend/income stocks only
4i
Book Value Analysis
— For deep value / turnaround stocks only
4j
Insider Activity
— Are insiders buying or selling?
4f
Cash Flow Quality
— How trustworthy is the FCF?
4g
Debt Maturity Risk
— Can it handle its debt?
4h
Macro Environment
— Rates, market valuation, volatility
4i
Sector Intelligence
— How does this company compare within its sector?
4j
Revenue Confidence
— How reliable is the growth projection?
4k
Sensitivity Analysis
— How fragile is the fair value estimate?
4l
Sector Demand Cycle
— Is the sector in a boom, steady state, or contraction?
5
AI Investigation
— Adaptive research engine (Claude)
5b
Thesis Evaluation
— What does the market believe? (narrative/platform stocks only)
6
Valuation Synthesis
— Weighted verdict from all methods (requires Layer 4)
Income Statement (Annual)
Last updated: Jun 24, 2026 1:08pm (2d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $49.2M | $0 | $10.0M | $0 | $500,000 |
| Cost of Revenue | $24.2M | $-257,442 | $2.6M | $1.1M | $133,000 |
| Gross Profit | $25.0M | $257,442 | $7.4M | -$1.1M | $367,000 |
| Operating Expenses | $53.3M | $53.9M | $35.8M | $47.4M | $38.6M |
| Operating Income | -$28.3M | -$53.7M | -$28.4M | -$47.4M | -$38.3M |
| Net Income | $17.2M | -$42.1M | -$29.5M | -$43.3M | -$41.9M |
| EBITDA | $25.5M | -$40.0M | -$26.1M | -$40.8M | -$40.5M |
| EPS | $749.65 | $-1,750.35 | $-1,100.22 | $-0.29 | $-0.26 |
| EPS (Diluted) | — | — | — | — | — |
Balance Sheet (Annual)
Last updated: Jun 24, 2026 1:08pm (2d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Cash & Equivalents | $126.7M | $68.2M | $57.4M | $69.8M | $41.0M |
| Total Current Assets | $134.3M | $75.2M | $63.8M | $74.8M | $45.0M |
| Total Assets | $171.0M | $77.4M | $66.5M | $76.4M | $45.9M |
| Current Liabilities | $17.0M | $24.4M | $9.5M | $13.8M | $4.3M |
| Long-Term Debt | $19.5M | $0 | $4.4M | $0 | $0 |
| Total Liabilities | $51.9M | $26.0M | $16.0M | $15.4M | $5.0M |
| Total Equity | $119.0M | $51.4M | $50.5M | $61.0M | $40.9M |
| Retained Earnings | -$401.6M | -$404.6M | -$419.6M | -$462.9M | -$501.0M |
Cash Flow (Annual)
Last updated: Jun 24, 2026 1:08pm (2d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Operating Cash Flow | -$7.1M | -$48.8M | -$21.1M | -$32.8M | -$31.0M |
| Capital Expenditure | $-722,056 | $-13,000 | $-419,000 | $-699,000 | $-20,000 |
| Free Cash Flow | -$7.8M | -$48.8M | -$21.6M | -$33.5M | -$31.0M |
| Acquisitions (net) | $0 | $0 | $0 | $0 | $0 |
| Debt Repayment | — | — | — | — | — |
| Dividends Paid | — | — | — | — | — |
| Stock Buybacks | $0 | $0 | $0 | $0 | $0 |
| Net Change in Cash | $95.6M | -$59.2M | -$10.8M | $12.4M | -$28.8M |
Analyst Estimates (Annual)
Last updated: Jun 27, 2026 5:01am (4h ago)| Metric | 2027 | 2028 | 2029 | 2030 |
|---|---|---|---|---|
| Revenue |
$27.1M $27.1M – $27.1M
|
$48.2M $48.2M – $48.2M
|
$28.8M $28.8M – $28.8M
|
$104.3M $104.3M – $104.3M
|
| EBITDA |
$2.8M $2.8M – $2.8M
|
$5.0M $5.0M – $5.0M
|
$3.0M $3.0M – $3.0M
|
$10.8M $10.8M – $10.8M
|
| Net Income |
-$1.3M -$1.3M – -$1.3M
|
$18.6M $17.0M – $20.2M
|
-$9.6M -$9.6M – -$9.6M
|
$1.6M $1.6M – $1.6M
|
| EPS | — | — | — | — |
Growth Trends (YoY %)
Last updated: Jun 24, 2026 1:08pm (2d ago)| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Revenue Growth | -100.0% | — | -100.0% | — |
| Gross Profit Growth | -99.0% | +2,784.5% | -114.7% | +133.7% |
| Operating Income Growth | -89.9% | +47.1% | -66.7% | +19.2% |
| Net Income Growth | -345.3% | +30.0% | -46.8% | +3.2% |
| EBITDA Growth | -256.9% | +34.8% | -56.6% | +0.8% |
Insider Trading (Recent)
Last updated: Jun 27, 2026 5:01am (4h ago)
Type codes
PPurchase
SSale
AAward / grant
MOption exercise
FIn-kind (tax)
CConversion
GGift
DReturn to issuer
All SEC Form 4 codes
Open market
- P Purchase
- Open-market or private purchase of shares.
- S Sale
- Open-market or private sale of shares.
Compensation (Rule 16b-3)
- A Award / grant
- Grant or award of securities (RSUs, options, etc.) under Rule 16b-3.
- D Return to issuer
- Securities disposed back to the company under Rule 16b-3.
- F In-kind (tax)
- Shares withheld or delivered to pay the option-exercise price or tax — not an open-market sale.
- I Discretionary
- Discretionary transaction under an employee plan — Rule 16b-3(f).
- M Option exercise
- Exercise or conversion of a derivative (option/RSU) into shares — exempt.
Derivatives
- C Conversion
- Conversion of a derivative security into the underlying shares.
- E Short expiration
- Expiration of a short derivative position.
- H Long expiration
- Expiration or cancellation of a long derivative position with value received.
- O OTM exercise
- Exercise of an out-of-the-money derivative.
- X ITM exercise
- Exercise of an in-the-money or at-the-money derivative.
Other exempt
- G Gift
- Bona fide gift of securities.
- L Small acquisition
- Small acquisition under Rule 16a-6.
- W Inheritance
- Acquisition or disposition by will or the laws of descent.
- Z Voting trust
- Deposit into or withdrawal from a voting trust.
Other
- J Other
- Other acquisition or disposition (explained in a Form 4 footnote).
- K Equity swap
- Transaction in an equity swap or similar instrument.
- U Tender / buyout
- Disposition via tender of shares in a change-of-control transaction.
Compensation-plan codes (A, D, F, M) are routine and rarely directional. Open-market P (buy) and S (sale) carry the most signal.
| Date | Insider | Type | Shares | Price | Value |
|---|---|---|---|---|---|
| 2026-02-26 | Jacquet Pierre | A-Award | 106,848.00 | $0.00 | $0 |
| 2026-02-26 | Jacquet Pierre | A-Award | 66,000.00 | $0.39 | $25,740 |
| 2026-02-26 | Yoskowitz Marc J | A-Award | 96,163.00 | $0.00 | $0 |
| 2026-02-26 | Yoskowitz Marc J | A-Award | 66,000.00 | $0.39 | $25,740 |
| 2026-02-26 | Shames Daniel | A-Award | 96,163.00 | $0.00 | $0 |
| 2026-02-26 | Shames Daniel | A-Award | 66,000.00 | $0.39 | $25,740 |
| 2026-02-26 | Ekblom Anders | A-Award | 133,560.00 | $0.00 | $0 |
| 2026-02-26 | Ekblom Anders | A-Award | 66,000.00 | $0.39 | $25,740 |
| 2026-02-26 | Bender Jeremy | A-Award | 117,533.00 | $0.00 | $0 |
| 2026-02-26 | Bender Jeremy | A-Award | 66,000.00 | $0.39 | $25,740 |
| 2026-02-26 | PAKIANATHAN DEEPIKA | A-Award | 66,000.00 | $0.39 | $25,740 |
| 2026-02-26 | Jenkins Annalisa | A-Award | 106,848.00 | $0.00 | $0 |
| 2026-02-26 | Jenkins Annalisa | A-Award | 66,000.00 | $0.39 | $25,740 |
| 2026-02-26 | WYZGA MICHAEL S | A-Award | 66,000.00 | $0.39 | $25,740 |
| 2026-02-01 | Lewicki John A. | A-Award | 145,000.00 | $0.44 | $63,800 |
| 2026-02-01 | Lewicki John A. | A-Award | 139,913.00 | $0.44 | $61,562 |
| 2026-02-01 | Lewicki John A. | A-Award | 46,637.00 | $1.00 | $46,637 |
| 2026-02-01 | Hughes-Wilson Alexandra | A-Award | 195,000.00 | $0.44 | $85,800 |
| 2026-02-01 | Hughes-Wilson Alexandra | A-Award | 183,750.00 | $0.44 | $80,850 |
| 2026-02-01 | Hughes-Wilson Alexandra | A-Award | 61,250.00 | $1.00 | $61,250 |
Narrative Economics
The story the market is telling about this stock — the intangible X-factor
(founder mythology, cult dynamics, TAM-of-imagination) that moves price beyond
what cash flows alone explain. After Shiller, Narrative Economics.
No narrative profile yet for MREO — it's generated by the pipeline (
market-narrative step).
No community reviews yet for MREO.
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My Notes
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Data via Financial Modeling Prep · Cached for performance · fmp
v1.1.352 · d1100787 · 2026-06-26 11:39:30