MREO Q3 FY2026 earnings: results, stock reaction and implied move

Reported results

Net loss for the third quarter of 2026 was $5.9 million, compared to $7.0 million for the third quarter of 2025.
Total research and development (R&D) expenses were $2.1 million for the third quarter of 2026, compared to $4.3 million for the third quarter of 2025.
General and administrative (G&A) expenses were $4.9 million for the third quarter of 2026, compared to $6.0 million for the third quarter of 2025.
Revenue for the third quarter of 2026 was $800 thousand, compared to $0 for the third quarter of 2025.
Basic and diluted loss per share for the third quarter of 2026 was $(0.01), compared to $(0.01) for the third quarter of 2025.
Cash and cash equivalents totaled $26.1 million as of September 30, 2026.

The Company expects that its existing cash and cash equivalents balance of $26.1 million as of September 30, 2026, will enable it to fund operating expenses into late 2027.
Mereo expects to be in a position to initiate the Phase 3 study for alvelestat in early 2027.

The figures above come from the earnings release the company filed with the SEC on 2026-11-09 (8-K, Item 2.02). Read the original filing on sec.gov.