MREO
Mereo BioPharma Group plc
NasdaqCMUSDEQUITY
Healthcare
DELAYED
Neutral
+18/100
Last price
0.35
▼ 0.04 (9.79%)
MARKET · —
Price
Chart style
Interval
Intraday intervals only cover recent history. The site picks the finest interval the range allows.
Overlays
Session levels
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Both series are rebased to 0% at the left edge, so the lines show relative performance rather than price.
Tool
1D
—
H —
L —
Range —
Vol —
vs
Drag pan · Pinch zoom · Hold crosshair · pick a tool then drag to draw
Open
—
Prev close
0.39
Day high
0.40
Day low
0.35
Volume
1.25M
Market cap
$55.91M
P/E (TTM)
—
52W range
0.20 – 2.37
Trailing performance
Returnvs SPY
1W
-6.17%
-8.1%
1M
+40.00%
+38.8%
3M
+10.76%
+6.2%
6M
+7.03%
-11.1%
YTD
-16.07%
-30.3%
1Y
-82.84%
-99.3%
3Y
-72.87%
-155.1%
5Y
—
—
Price return only. Dividends are not reinvested, so total return on a dividend payer will be higher than shown.
Unusual options activity
Nothing crossed the thresholds in the expiries we scanned.
That is the normal state — most contracts trade well inside their existing open interest.
That is the normal state — most contracts trade well inside their existing open interest.
Contracts trading at or above their open interest, ranked by notional and where the print landed.
Free account
5 more panels on MREO open with an account.
Options chains and analytics, valuation ratios, insider filings, analyst targets and ownership. No card, no trial, nothing to cancel.
Insider net activity
Net shares
0
Net selling
Buy transactions
0
0 shares
Sell transactions
0
—
Net transactions
0
Buys less sells
Sell : buy shares
—
Not enough filings
Insider-held shares
1.19M
Total on file
Fundamentals
Market cap$55.91M
Enterprise value$26.82M
Revenue (TTM)$0
Gross profit$-1.00K
EBITDA$-32.42M
Net income$-28.10M
EPS (TTM)$-0.20
Free cash flow$-13.66M
Total cash$30.12M
Total debt$1.03M
Book value / share$0.18
Shares outstanding159.69M
Float125.02M
Short % of float2.37%
Dividend yield0.00%
Beta (5Y)0.14
Valuation & profitability ratios
Trailing P/E—
Forward P/E-15.28
PEG ratio—
Price / sales—
Price / book1.94
EV / revenue—
EV / EBITDA-0.83
Gross margin0.00%
Operating margin0.00%
Profit margin0.00%
Return on equity-67.85%
Return on assets-42.46%
Debt / equity3.60
Current ratio5.88
Fourteen ratios including P/E, PEG, EV/EBITDA, margins and return on equity.
Financial statements
| Line item | 2025 | 2024 | 2023 | 2022 | YoY |
|---|---|---|---|---|---|
| Total revenue | $500.00K | $0 | $10.00M | $0 | — |
| Operating revenue | $500.00K | $0 | $10.00M | $0 | — |
| Cost of revenue | $133.00K | $0 | $2.57M | -$1.15M | — |
| Gross profit | $367.00K | $0 | $7.43M | $1.15M | — |
| Research & development | $17.77M | $20.93M | $17.42M | $29.46M | -15.1% |
| Selling, general & admin | $23.01M | $26.43M | $18.42M | $26.11M | -13.0% |
| Total operating expense | $38.62M | $45.72M | $34.56M | $53.84M | -15.5% |
| Operating income | -$38.26M | -$45.72M | -$27.14M | -$52.70M | +16.3% |
| Net interest income | $1.92M | $1.67M | -$750.00K | -$3.33M | +14.8% |
| Pre-tax income | -$41.88M | -$43.25M | -$30.00M | -$42.94M | +3.2% |
| Tax provision | $0 | $0 | -$532.00K | -$718.00K | — |
| Net income | -$41.88M | -$43.25M | -$29.47M | -$42.22M | +3.2% |
| Net income to common | -$41.88M | -$43.25M | -$29.47M | -$42.22M | +3.2% |
| Basic EPS | -0.25 | -0.30 | -0.20 | -0.36 | +16.7% |
| Diluted EPS | -0.25 | -0.30 | -0.20 | -0.36 | +16.7% |
| EBIT | -$41.62M | -$41.88M | -$27.12M | -$38.76M | +0.6% |
| EBITDA | -$40.47M | -$40.80M | -$26.06M | -$37.87M | +0.8% |
| Basic shares | 159.42M | 147.92M | 131.89M | 113.99M | +7.8% |
| Diluted shares | 159.42M | 147.92M | 131.89M | 113.99M | +7.8% |
| Line item | 2025 | 2024 | 2023 | 2022 | 2021 | YoY |
|---|---|---|---|---|---|---|
| Cash & equivalents | $40.99M | $69.80M | $57.42M | $68.18M | — | -41.3% |
| Cash & short-term investments | $40.99M | $69.80M | $57.42M | $68.18M | — | -41.3% |
| Total current assets | $45.02M | $74.76M | $63.76M | $75.20M | — | -39.8% |
| Property, plant & equipment | $381.00K | $984.00K | $1.65M | $2.22M | — | -61.3% |
| Goodwill & intangibles | $516.00K | $643.00K | $1.09M | $0 | — | -19.8% |
| Total assets | $45.92M | $76.39M | $66.50M | $77.41M | — | -39.9% |
| Total current liabilities | $4.30M | $13.85M | $9.49M | $24.38M | — | -68.9% |
| Current debt | — | $5.54M | — | $13.33M | — | — |
| Long-term debt | — | — | $4.39M | — | $19.41M | — |
| Total debt | $202.00K | $6.43M | $5.95M | $15.37M | — | -96.9% |
| Total liabilities | $5.00M | $15.42M | $15.96M | $26.01M | — | -67.6% |
| Retained earnings | -$501.02M | -$462.88M | -$419.63M | -$404.57M | — | -8.2% |
| Shareholder equity | $40.92M | $60.97M | $50.54M | $51.40M | — | -32.9% |
| Working capital | $40.72M | $60.91M | $54.27M | $50.82M | — | -33.2% |
| Net tangible assets | $40.40M | $60.33M | $49.45M | $51.40M | — | -33.0% |
| Shares issued | 795.66M | 775.73M | 701.22M | 624.93M | — | +2.6% |
| Line item | 2025 | 2024 | 2023 | 2022 | 2021 | YoY |
|---|---|---|---|---|---|---|
| Net income | -$41.88M | -$43.25M | -$29.47M | -$42.22M | — | +3.2% |
| Depreciation & amortisation | $1.15M | $1.09M | $1.06M | $889.00K | — | +5.6% |
| Stock-based compensation | $7.60M | $7.39M | $4.92M | $4.77M | — | +2.8% |
| Change in working capital | -$3.20M | -$369.00K | -$1.59M | -$2.35M | — | -768.0% |
| Operating cash flow | -$30.97M | -$32.83M | -$21.13M | -$48.82M | — | +5.7% |
| Capital expenditure | -$320.00K | -$699.00K | -$419.00K | -$13.00K | — | +54.2% |
| Investing cash flow | -$20.00K | -$699.00K | -$419.00K | $1.99M | — | +97.1% |
| Share buybacks | — | — | — | — | $0 | — |
| Dividends paid | — | — | — | $0 | $0 | — |
| Financing cash flow | $327.00K | $46.15M | $7.97M | $200.00K | — | -99.3% |
| Free cash flow | -$31.29M | -$33.53M | -$21.55M | -$48.83M | — | +6.7% |
| End cash position | $40.99M | $69.80M | $57.42M | $68.18M | — | -41.3% |
| Line item | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | YoY |
|---|---|---|---|---|---|---|---|
| Total revenue | $0 | $0 | $0 | $0 | $500.00K | — | — |
| Operating revenue | $0 | $0 | $0 | $0 | $500.00K | — | — |
| Cost of revenue | $0 | — | $0 | $0 | $132.00K | — | — |
| Gross profit | $0 | — | $0 | $0 | $368.00K | — | — |
| Research & development | $1.81M | $4.75M | $4.19M | $4.27M | $5.37M | — | -61.9% |
| Selling, general & admin | $5.22M | $4.02M | $4.20M | $6.04M | $5.49M | — | +29.9% |
| Total operating expense | $6.91M | $8.67M | $7.92M | $9.57M | $10.12M | — | -20.3% |
| Operating income | -$6.91M | -$8.67M | -$7.92M | -$9.57M | -$9.75M | — | +20.3% |
| Net interest income | $262.00K | $307.00K | $398.00K | $476.00K | $565.00K | — | -14.7% |
| Pre-tax income | -$7.00M | -$6.72M | -$7.35M | -$7.02M | -$14.62M | — | -4.3% |
| Tax provision | $0 | $0 | $0 | $0 | $0 | — | — |
| Net income | -$7.00M | -$6.72M | -$7.35M | -$7.02M | -$14.62M | — | -4.3% |
| Net income to common | -$7.00M | -$6.72M | -$7.35M | -$7.02M | -$14.62M | — | -4.3% |
| Basic EPS | -0.05 | -0.05 | — | -0.05 | -0.10 | -0.10 | 0.0% |
| Diluted EPS | -0.05 | -0.05 | — | -0.05 | -0.10 | -0.10 | 0.0% |
| EBIT | -$6.99M | -$6.70M | -$7.33M | -$7.00M | -$14.59M | — | -4.3% |
| EBITDA | -$6.69M | -$6.39M | -$6.74M | -$7.00M | -$14.29M | — | -4.6% |
| Basic shares | 160.71M | 160.36M | — | 159.99M | 159.89M | 156.86M | +0.2% |
| Diluted shares | 160.71M | 160.36M | — | 159.99M | 159.89M | 156.86M | +0.2% |
| Line item | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | YoY |
|---|---|---|---|---|---|---|
| Cash & equivalents | $30.12M | $36.22M | $40.99M | $48.70M | $56.13M | -16.9% |
| Cash & short-term investments | $30.12M | $36.22M | $40.99M | $48.70M | $56.13M | -16.9% |
| Total current assets | $33.40M | $40.03M | $45.02M | $52.41M | $61.42M | -16.6% |
| Property, plant & equipment | $1.06M | $199.00K | $381.00K | $552.00K | $740.00K | +431.2% |
| Goodwill & intangibles | $256.00K | $381.00K | $516.00K | $643.00K | $470.00K | -32.8% |
| Total assets | $34.71M | $40.61M | $45.92M | $53.60M | $62.63M | -14.5% |
| Total current liabilities | $5.68M | $6.18M | $4.30M | $6.02M | $7.56M | -8.1% |
| Total debt | $1.03M | $0 | $202.00K | $397.00K | $601.00K | — |
| Total liabilities | $6.06M | $6.56M | $5.00M | $7.00M | $8.45M | -7.6% |
| Retained earnings | -$514.54M | -$507.54M | -$501.02M | -$493.67M | -$486.64M | -1.4% |
| Shareholder equity | $28.65M | $34.05M | $40.92M | $46.60M | $54.18M | -15.9% |
| Working capital | $27.72M | $33.86M | $40.72M | $46.39M | $53.86M | -18.1% |
| Net tangible assets | $28.40M | $33.67M | $40.40M | $45.95M | $53.71M | -15.7% |
| Shares issued | 798.09M | 798.08M | 795.66M | 795.48M | 795.00M | +0.0% |
| Line item | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | YoY |
|---|---|---|---|---|---|---|---|
| Net income | -$7.00M | -$6.72M | -$7.35M | -$7.02M | -$14.62M | — | -4.3% |
| Depreciation & amortisation | $299.00K | $305.00K | $592.00K | -$11.00K | $298.00K | — | -2.0% |
| Stock-based compensation | $1.32M | $1.60M | $1.54M | $1.71M | $2.06M | — | -17.9% |
| Change in working capital | -$997.00K | $2.16M | -$2.25M | $400.00K | -$843.00K | — | -146.1% |
| Operating cash flow | -$6.04M | -$4.31M | -$7.68M | -$7.31M | -$7.65M | — | -40.1% |
| Capital expenditure | — | -$300.00K | — | — | — | -$320.00K | — |
| Investing cash flow | $0 | -$300.00K | $0 | $300.00K | $0 | — | +100.0% |
| Financing cash flow | $0 | $0 | $39.00K | $0 | -$134.00K | — | — |
| Free cash flow | -$6.04M | -$4.61M | -$7.68M | -$7.31M | -$7.65M | — | -31.0% |
| End cash position | $30.12M | $36.22M | $40.99M | $48.70M | $56.13M | — | -16.9% |
Options analytics
Put / call volume
0.07
Call-heavy session
Put / call open interest
—
Positioning, not flow
Max pain
0.50
+42.8% from spot
ATM implied vol
50.0%
Nearest strike to spot
Skew (10% OTM)
-50.0%
Calls bid over puts
Call volume
120
Contracts, this expiry
Put volume
8
Contracts, this expiry
Heaviest call OI
0.50
0 contracts
Heaviest put OI
0.50
0 contracts
Max pain is the strike at which the largest dollar value of open contracts expires worthless. It describes current positioning; it is not a forecast and it moves as open interest changes.
Put/call ratios, max pain, implied volatility skew and where open interest is concentrated.
Earnings
Reported vs expected · EPS
| Quarter | Est. | Actual | Surprise |
|---|---|---|---|
| Jun 2026 | -0.01 | -0.01 | -32.1% |
| Mar 2026 | 0.00 | -0.01 | -3,032.0% |
| Dec 2025 | -0.01 | -0.01 | -7.1% |
| Sep 2025 | -0.00 | -0.01 | -117.1% |
Forward consensus
| Period | EPS | Analysts | Revenue | Growth |
|---|---|---|---|---|
| Current quarter | -0.01 | 6 | $0 | 0.0% |
| Next quarter | -0.01 | 6 | $12.33K | 0.0% |
| Current year | -0.04 | 6 | $0 | -100.0% |
| Next year | -0.02 | 6 | $14.38M | 0.0% |
Analyst targets & ownership
Mean target$1.96
High target$2.97
Low target$0.98
Implied upside460.56%
Analyst count5
ConsensusNONE
Strong buy / Buy1 / 4
Hold2
Sell / Strong sell0 / 1
Held by insiders0.75%
Held by institutions35.47%
Institutions holding64
Price targets, consensus spread, insider and institutional ownership.
Moving averages & technicals
SMA 10
0.37
-4.84% from price
SMA 20
0.32
+8.09% from price
SMA 50
0.31
+14.52% from price
SMA 100
0.31
+14.19% from price
SMA 200
0.40
-12.40% from price
EMA 12
0.35
-1.28% from price
EMA 26
0.33
+6.10% from price
EMA 50
0.32
+10.47% from price
RSI (14)
55.0
Neutral
MACD (12,26,9)
0.02
Hist 0.00
ATR (14)
0.04
10.27% of price
Realised vol 30D
92.9%
Annualised
Bollinger upper
0.42
20, 2σ
Bollinger lower
0.23
20, 2σ
50 / 200 cross
Death
0.31 vs 0.40
Trend bias
Below 200
-12.40%
Options chain
Calls
| Strike | Last | Bid | Ask | Vol | OI | IV |
|---|---|---|---|---|---|---|
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
Puts
| Strike | Last | Bid | Ask | Vol | OI | IV |
|---|---|---|---|---|---|---|
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
Every listed expiry, both sides of the book, with volume, open interest and implied volatility.
Risk profile
Beta vs SPY
1.45
More volatile than market
Correlation to SPY
0.14
Largely independent
Realised vol 30D
92.9%
Annualised
Market vol 1Y
13.0%
SPY, annualised
Max drawdown 1Y
-89.7%
Peak to trough
Max drawdown 5Y
-95.1%
Peak to trough
ATR 14
0.04
10.27% of price
Beta (reported)
0.14
5Y monthly, from filing
Short interest
Shares short
3.08M
Prior 4.32M
Change vs prior
-28.7%
Shorts covering
% of float
2.37%
Normal
% of shares out
1.93%
Against total outstanding
Days to cover
2.3
Liquid
Float
125.02M
Freely tradeable shares
Exchanges publish short interest twice a month with a settlement lag, so this is roughly two weeks behind. Days to cover divides shares short by average daily volume — it estimates how long covering would take, not whether it will happen.
Rating changes
| Date | Firm | Action | From | To |
|---|---|---|---|---|
| Aug 19, 26 | JP Morgan | DOWNGRADE | Neutral | Underweight |
| Aug 11, 26 | BTIG | MAINTAINED | Buy | Buy |
| Aug 11, 26 | Needham | MAINTAINED | Buy | Buy |
| May 12, 26 | BTIG | MAINTAINED | Buy | Buy |
| Mar 23, 26 | JP Morgan | DOWNGRADE | Overweight | Neutral |
| Jan 16, 26 | BTIG | MAINTAINED | Buy | Buy |
| Jan 13, 26 | Needham | MAINTAINED | Buy | Buy |
| Dec 30, 25 | Jefferies | DOWNGRADE | Buy | Hold |
| Dec 29, 25 | BTIG | MAINTAINED | Buy | Buy |
| Dec 29, 25 | LifeSci Capital | DOWNGRADE | Outperform | Market Perform |
| Dec 22, 25 | Needham | MAINTAINED | Buy | Buy |
| Dec 18, 25 | BTIG | MAINTAINED | Buy | Buy |
Dividends & splits
Forward rate—
Forward yield0.00%
5-year avg yield—
Payout ratio0.00%
Ex-dividend date—
Next pay date—
Last split—
Split date—
SEC filings
Corporate Changes & Voting Matters
8-K · 2026-08-19
Corporate Changes & Voting Matters
8-K · 2026-08-11
Corporate Changes & Voting Matters
8-K · 2026-05-14
Corporate Changes & Voting Matters
8-K · 2026-05-12
Annual Report to Shareholders
ARS · 2026-04-09
Corporate Changes & Voting Matters
8-K · 2026-03-27
Corporate Changes & Voting Matters
8-K · 2026-03-19
Corporate Changes & Voting Matters
8-K · 2026-02-17
Headlines
Mereo BioPharma Reports Second Quarter 2026 Financial Results and Provides Corporate Highlights
GlobeNewswire · 57d ago
Sentynl Therapeutics and Mereo BioPharma Announce Option and License Agreement for alvelestat in Alpha-1 Antitrypsin Deficiency-Associated Lung Disease (AATD-LD)
PR Newswire · 57d ago
Mereo BioPharma and Sentynl Therapeutics Announce Option and License Agreement for alvelestat in Alpha-1 Antitrypsin Deficiency-Associated Lung Disease (AATD-LD)
GlobeNewswire · 57d ago
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