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Stocks · Health care · Pharmaceutical Preparations

Mereo BioPharma Group plc

MREO Clue Score30
United Kingdom Fiscal year ends December CIK 0001719714
$0.35 -6.74% Close, 9 Oct 2026
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Price $0.35 −83.42% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 24 Apr 2019. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2016Operating income−36.2Net income−28.4Fiscal year 2017Operating income−45.3Net income−38.8Fiscal year 2018Operating income−34.5Net income−32.0Fiscal year 2019Operating income−39.5Net income−34.8EPS, diluted−0.39Fiscal year 2020Operating income−37.6Net income−163.6EPS, diluted−0.48Fiscal year 2021Revenue36.5Operating income−20.9Net income12.7EPS, diluted−0.05Fiscal year 2022Revenue0.0 −100.0%Operating income−54.4Net income−42.2 −431.8%EPS, diluted−0.07Fiscal year 2023Revenue10.0Operating income−28.4Net income−29.5EPS, diluted−0.04Fiscal year 2024Revenue0.0 −100.0%Operating income−47.4Net income−43.3EPS, diluted−0.06Fiscal year 2025Revenue0.5Operating income−40.1Net income−41.9EPS, diluted−0.05
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue n/a n/a n/a n/a n/a 36.5 0.0 10.0 0.0 0.5
Growth −100.0% −100.0%
Operating income −36.2 −45.3 −34.5 −39.5 −37.6 −20.9 −54.4 −28.4 −47.4 −40.1
Net income −28.4 −38.8 −32.0 −34.8 −163.6 12.7 −42.2 −29.5 −43.3 −41.9
Growth −431.8%
EPS, diluted n/a n/a n/a −0.39 −0.48 −0.05 −0.07 −0.04 −0.06 −0.05

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Operating marginNet margin
Fiscal year 2016Fiscal year 2017Fiscal year 2018Fiscal year 2019Fiscal year 2020Fiscal year 2021Operating margin−57.4%Net margin34.9%Free cash flow margin−15.8%Fiscal year 2022Fiscal year 2023Operating margin−284.2%Net margin−294.7%Free cash flow margin−211.3%Fiscal year 2024Fiscal year 2025Operating margin−8,021.4%Net margin−8,375.6%Free cash flow margin−6,198.2%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating margin n/a n/a n/a n/a n/a −57.4% n/a −284.2% n/a −8,021.4%
Net margin n/a n/a n/a n/a n/a 34.9% n/a −294.7% n/a −8,375.6%
Free cash flow margin n/a n/a n/a n/a n/a −15.8% n/a −211.3% n/a −6,198.2%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2016Operating cash flow−29.7Capital expenditure−0.0Free cash flow−29.7Fiscal year 2017Operating cash flow−32.1Capital expenditure−0.0Free cash flow−32.2Fiscal year 2018Operating cash flow−23.1Capital expenditure−0.0Free cash flow−23.2Buybacks−0.3Fiscal year 2019Operating cash flow−45.9Capital expenditure−0.0Free cash flow−46.0Buybacks−1.0Fiscal year 2020Operating cash flow−28.3Capital expenditure−0.0Free cash flow−28.4Fiscal year 2021Operating cash flow−5.2Capital expenditure−0.5Free cash flow−5.8Fiscal year 2022Operating cash flow−48.8Capital expenditure−0.0Free cash flow−48.8Fiscal year 2023Operating cash flow−21.1Capital expenditure0.0Free cash flow−21.1Fiscal year 2024Operating cash flow−32.8Capital expenditure0.0Free cash flow−32.8Fiscal year 2025Operating cash flow−31.0Capital expenditure−0.0Free cash flow−31.0
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow −29.7 −32.1 −23.1 −45.9 −28.3 −5.2 −48.8 −21.1 −32.8 −31.0
Capital expenditure −0.0 −0.0 −0.0 −0.0 −0.0 −0.5 −0.0 0.0 0.0 −0.0
Free cash flow −29.7 −32.2 −23.2 −46.0 −28.4 −5.8 −48.8 −21.1 −32.8 −31.0
Growth
Buybacks n/a n/a −0.3 −1.0 n/a n/a n/a n/a n/a n/a

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2016Cash53.6Shareholders’ equity79.3Fiscal year 2017Cash50.0Total debt18.8Net cash (debt)31.2Shareholders’ equity62.5Debt to equity0.30Fiscal year 2018Cash25.0Total debt14.6Net cash (debt)10.4Shareholders’ equity32.8Debt to equity0.45Fiscal year 2019Cash16.3Total debt5.4Net cash (debt)11.0Shareholders’ equity40.3Debt to equity0.13Fiscal year 2020Cash23.5Total debt16.1Net cash (debt)7.3Shareholders’ equity−15.0Fiscal year 2021Cash94.3Total debt14.4Net cash (debt)79.9Shareholders’ equity92.2Debt to equity0.16Fiscal year 2022Cash68.2Total debt0.0Net cash (debt)68.2Shareholders’ equity51.4Debt to equity0.00Fiscal year 2023Cash57.4Shareholders’ equity50.5Fiscal year 2024Cash69.8Shareholders’ equity61.0Fiscal year 2025Cash41.0Shareholders’ equity40.9
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 53.6 50.0 25.0 16.3 23.5 94.3 68.2 57.4 69.8 41.0
Total debt n/a 18.8 14.6 5.4 16.1 14.4 0.0 n/a n/a n/a
Net cash (debt) n/a 31.2 10.4 11.0 7.3 79.9 68.2 n/a n/a n/a
Shareholders’ equity 79.3 62.5 32.8 40.3 −15.0 92.2 51.4 50.5 61.0 40.9
Debt to equity n/a 0.30 0.45 0.13 n/a 0.16 0.00 n/a n/a n/a

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Income statement

In millions of USD, except per-share figures; shares in millions. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2016 31 Dec 2016 FY2017 31 Dec 2017 FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020† 31 Dec 2020 FY2021† 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Revenue and profit
n/a n/a n/a n/a n/a 36.5 0.0 10.0 0.0 0.5
Growth −100.0% −100.0%
n/a n/a n/a n/a n/a 17.9 −0.9 n/a n/a n/a
24.6 34.6 22.7 23.6 16.3 23.6 25.0 n/a n/a n/a
n/a n/a n/a n/a n/a n/a 26.1 18.4 26.4 23.0
−36.2 −45.3 −34.5 −39.5 −37.6 −20.9 −54.4 −28.4 −47.4 −40.1
Growth
−33.7 −47.0 −37.3 −41.1 −166.5 14.2 −42.9 −30.0 −43.3 −41.9
−5.3 −8.2 −5.3 −6.3 −2.8 1.5 −0.7 −0.5 0.0 0.0
−28.4 −38.8 −32.0 −34.8 −163.6 12.7 −42.2 −29.5 −43.3 −41.9
Growth −431.8%
Per share
n/a n/a n/a −0.39 −0.48 0.02 −0.07 −0.04 −0.06 −0.05
n/a n/a n/a −0.39 −0.48 −0.05 −0.07 −0.04 −0.06 −0.05
Growth
44.8 69.0 71,145 89.4 339.0 527.8 603.2 659.5 739.6 797.1
n/a n/a n/a 89.4 339.0 555.3 603.2 659.5 739.6 797.1
Growth +279.0% +63.8% +8.6% +9.3% +12.2% +7.8%

† The diluted share count jumps at 2020 and 2021, so per-share figures either side of that column are not comparable. Usually a split, but the break lands on the restatement boundary rather than on the split date, because every column is that period’s latest filing.

Five years in brief

Worked out from the figures above, not from a press release
  • A net loss in 9 of 10 years on file.