Mereo BioPharma Group plc 2026年季度报告

Table of Contents PART I Item 1.Financial Statements2Item 2.Management’s Discussion and Analysis of Financial Condition and Results of Operations18Item 3.Quantitative and Qualitative Disclosures About Market Risk24Item 4.Controls and Procedures24 PART II Item 1.Legal Proceedings25Item 1A.Risk Factors25Item 2.Unregistered Sales of Equity Securities and Use of Proceeds25Item 3.Defaults Upon Senior Securities25Item 4.Mine Safety Disclosures25Item 5.Other Information25Item 6.Exhibits26Signatures27 GENERAL INFORMATION In this Quarterly Report on Form 10‑Q (“Quarterly Report”), “Mereo,” the “Group,” the “Company,” “we,” “us” and “our” refer to MereoBioPharma Group plc and its consolidated subsidiaries, except where the context otherwise requires. INFORMATION REGARDING FORWARD-LOOKING STATEMENTS This Quarterly Report contains forward-looking statements that involve substantial risks and uncertainties, as well as assumptions that, if they nevermaterialize or prove incorrect, could cause our results to differ materially from those expressed or implied by such forward-looking statements. Wemake such forward-looking statements pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and other federalsecurities laws. All statements other than statements of historical facts contained in this Quarterly Report are forward-looking statements within themeaning of Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of Any forward-looking statements in this Quarterly Report reflect our current expectations, beliefs and assumptions concerning future eventsor to our future financial performance and involve known and unknown risks, uncertainties and other factors that may cause our actual results,performance or achievements to be materially different from any future results, performance or achievements expressed or implied by these forward-looking statements. Factors that may cause actual results to differ materially from current expectations include, among other things, the uncertaintiesinherent in the clinical development process; the Company’s reliance on third parties to conduct its clinical trials and provide funding for its clinicaltrials; the sufficiency of existing cash to fund operations and/or the inability to raise additional funding on favorable terms or at all; the uncertaintyinherent in regulatory review processes, including varying interpretations and analyses of data from clinical trials; the Company’s dependence onenrollment of patients in its clinical trials; potentially smaller than anticipated market opportunities for the Company's product candidates; the This Quarterly Report also contains estimates, projections and other information concerning our industry, our business, and the markets forcertain diseases, including data regarding the estimated size of those markets, and the incidence and prevalence of certain medical conditions.Information that is based on estimates, forecasts, projections, market research or similar methodologies is inherently subject to uncertainties and actualevents or circumstances may differ materially from events and circumstances reflected in this information. Unless otherwise expressly stated, we MEREO BIOPHARMA GROUP PLCCONDENSED CONSOLIDATED BALANCE SHEETS(In thousands, except share and per share amounts) MEREO BIOPHARMA GROUP PLCCONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY(In thousands, except share amounts)(Unaudited) MEREO BIOPHARMA GROUP PLCNOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS 1. Nature of business Mereo BioPharma Group plc (the “Company” or “Mereo”) is a United Kingdom (“U.K.”) based biopharmaceutical company focused on thedevelopment of innovative therapeutics for rare diseases. The Company has developed a portfolio of late-stage clinical product candidates, and its twolate-stage rare disease product candidates are setrusumab for the treatment of osteogenesis imperfecta (“OI”) and alvelestat primarily for the treatmentof severe alpha-1 antitrypsin deficiency-associated lung disease (“AATD-LD”). The Company also has an early-stage rare disease program, The Company is a public limited company incorporated and domiciled in the U.K., and registered in England, with shares publicly traded onthe Nasdaq Capital Market via American Depositary Shares (“ADSs”) under the ticker symbol “MREO”. The Company’s registered office is located 2. Basis of presentation and summary of significant accounting policies Basis of presentation The condensed consolidated financial statements of the Company and its subsidiaries and other financial information included in thisquarterly report on Form 10-Q (“Quarterly Report”) are unaudited, have been prepared in accordance with generally accepted accounting principles in The unaudited condensed consolidated financial statements presented in this Quarterly Report should be read in conjunction wi