Mereo BioPharma Group H1 EPS $(0.03), Sales $9.00M Down From $50.61M YoY, Cash Balance of $53.1M Offer Sufficient Runway to Fund Operations into 2026
Portfolio Pulse from Benzinga Newsdesk
Mereo BioPharma Group reported H1 EPS of $(0.03) and sales of $9.00M, down 82.22% from $50.61M YoY. The company's cash balance of $53.1M is expected to fund operations into 2026.
September 07, 2023 | 11:37 am
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Mereo BioPharma's H1 earnings report shows a significant decrease in sales compared to the same period last year. However, the company's cash balance is expected to sustain operations until 2026.
The significant decrease in sales could negatively impact MREO's stock price in the short term. However, the company's strong cash balance, which is expected to fund operations until 2026, may provide some stability.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100