MEREO BIOPHARMA GROUP PLC
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Next accounts due
2026-06-30 (in 1mo)
Last filed for 2024-12-31
Confirmation statement due
2026-03-24
Overdue
Watchouts
Cash
£56M
+23.4% vs 2023
Net assets
£60M
+20.8% vs 2023
Employees
34
0% vs 2023
Profit before tax
-£34M
+3.2% vs 2023
Watchouts
Facts from the Companies House register and the latest accounts — not a rating
-
Confirmation statement overdue
Due 2026-03-24.
Name history
Renamed 1 time since incorporation
- MEREO BIOPHARMA GROUP PLC 2016-06-03 → present
- MEREO BIOPHARMA GROUP LIMITED 2015-03-10 → 2016-06-03
Net assets
2-year trend · vs Health Care median
Accounts
2-year trend · latest reflected 2024-12-31
| Metric | Trend | 2023-12-31 | 2024-12-31 |
|---|---|---|---|
| Turnover | £7,914,000 | £0 | |
| Operating profit | -£32,968,000 | -£35,831,000 | |
| Profit before tax | -£34,647,000 | -£33,547,000 | |
| Net profit | -£33,182,000 | -£32,256,000 | |
| Cash | £45,102,000 | £55,638,000 | |
| Total assets less current liabilities | £54,533,000 | £60,291,000 | |
| Net assets | £49,307,000 | £59,566,000 | |
| Equity | £49,307,000 | £59,566,000 | |
| Average employees | 34 | 34 | |
| Wages | £7,007,000 | £7,089,000 |
Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers
Ratios
Computed from the line items above — sparklines read oldest → newest
| Ratio | Trend | 2023-12-31 | 2024-12-31 |
|---|---|---|---|
| Operating margin | -416.6% | — | |
| Net margin | -419.3% | — | |
| Return on capital employed | -60.5% | -59.4% | |
| Gearing (liabilities / total assets) | 21.1% | 18.3% | |
| Current ratio | 6.29x | 4.72x | |
| Interest cover | -20.08x | -47.02x |
Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.
Audit & accounting basis
- Accounting basis
- IFRS
- Reporting scope
- Consolidated group
- Auditor
- PricewaterhouseCoopers LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“The going concern basis has been applied in these consolidated financial statements as the Company has adequate resources to meet its liabilities as they fall due for the foreseeable future and at least 12 months from the date of approval of these consolidated financial statements. The Company expects to incur significant operating losses for the foreseeable future as it continues its research and development efforts, seeks to obtain regulatory approval of its product candidates and pursues any future product candidates the Company may develop. Until such time as the Company can generate significant revenue from product sales, or other commercial revenues, if ever, or through licensing and/or collaboration agreements for its rare disease or oncology product candidates, the Company will seek to finance its operations through a combination of non-dilutive funding sources, public or private equity or debt financings or other sources. The Company's existing funds provide the Company with sufficient cash resources to meet its liabilities as they fall due and for the period through December 31, 2026. Therefore, although the Company continues to generate losses, the Directors consider that there is sufficient headroom between the forecast expenditure and cash resources such that the likelihood of the headroom being exhausted is remote. Therefore, the Directors determined that it is appropriate to adopt the going concern basis of accounting in preparing these consolidated financial statements.”
Group structure
- MEREO BIOPHARMA GROUP PLC · parent
- Mereo BioPharma 1 Limited 100%
- Mereo BioPharma 2 Limited 100%
- Mereo BioPharma 3 Limited 100%
- Mereo BioPharma 4 Limited 100%
- Mereo BioPharma Ireland Limited 100%
- Mereo BioPharma 5, Inc. 100%
- Navi Subsidiary, Inc. 100%
- Mereo US Holdings Inc. 100%
- Employee Benefit Trust
Significant events
- “On February 7, 2025, the Company received a conversion notice and subsequently issued and allotted 17,105,450 ordinary shares (equivalent to 3,421,090 ADSs) on the non-cash conversion of the outstanding principal and accrued interest of the Novartis Loan Note.”
- “On February 7, 2025, Novartis exercised 1,449,610 warrants (equivalent to 289,922 ADSs) and upon receipt of £0.4 million in satisfaction of the subscription price of £0.265 per ordinary share, the Company issued and allotted the shares.”
- “The Employee Benefit Trust ('EBT') was terminated during the year ended December 31, 2024.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
11 active · 12 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| SERMON, Charles Edward | Secretary | 2023-11-09 | — | — |
| BENDER, Jeremy, Dr | Director | 2020-10-01 | Sep 1971 | American |
| EKBLOM, Anders | Director | 2015-04-21 | Sep 1954 | Swedish |
| JACQUET, Pierre, Dr | Director | 2021-09-20 | Oct 1966 | Belgian |
| JENKINS, Annalisa, Dr | Director | 2022-11-10 | Jun 1965 | British |
| PAKIANATHAN, Deepika, Dr | Director | 2019-04-23 | Jan 1965 | American |
| ROBERTS, Justin | Director | 2022-11-10 | Oct 1982 | American |
| SCOTS-KNIGHT, Denise Vera, Dr | Director | 2015-03-10 | May 1959 | British |
| SHAMES, Daniel, Dr | Director | 2022-11-10 | Sep 1945 | American |
| WYZGA, Michael | Director | 2019-04-23 | Mar 1955 | American |
| YOSKOWITZ, Marc | Director | 2022-11-10 | Aug 1974 | American |
Show 12 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| COSTELLO, Simon James | Secretary | 2023-03-31 | 2023-11-08 |
| SERMON, Charles Edward | Secretary | 2015-05-19 | 2023-03-31 |
| ARMSTRONG, Frank Murdoch | Director | 2015-04-21 | 2019-02-08 |
| BAINS, Peter James Jonathan | Director | 2015-04-21 | 2021-09-20 |
| BLACKBURN, Paul | Director | 2015-10-06 | 2020-10-01 |
| BUNGAY, Richard Edward | Director | 2016-06-09 | 2016-11-01 |
| FELLNER, Peter John, Dr | Director | 2015-07-29 | 2022-11-10 |
| HYLAND, Anne Philomena | Director | 2022-03-01 | 2022-11-10 |
| JONES, Richard Crispin | Director | 2017-01-30 | 2020-06-29 |
| KASHYAP, Kunal | Director | 2015-04-21 | 2021-10-26 |
| MULLICK, Abdul Hafeez, Dr | Director | 2022-05-17 | 2022-11-10 |
| SCHWARTZ, Brian, Dr | Director | 2020-10-01 | 2022-11-10 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Woodford Investment Management Limited | Corporate entity | Shares 25–50%, Voting 25–50% | 2016-06-09 | Ceased 2019-10-15 |
| Invesco Asset Management Limited | Corporate entity | Shares 25–50%, Voting 25–50% | 2016-06-09 | Ceased 2019-04-23 |
Filing timeline
Last 20 of 166 total filings
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-05-09 | RP01AP01 | officers | Replacement filing of director appointment with name | |
| 2026-03-17 | RP01SH01 | miscellaneous | Legacy | |
| 2026-03-13 | SH01 | capital | Capital allotment shares | |
| 2026-03-12 | CH01 | officers | Change person director company with change date | |
| 2026-03-12 | CH01 | officers | Change person director company with change date | |
| 2026-02-23 | SH01 | capital | Capital allotment shares | |
| 2025-10-24 | SH01 | capital | Capital allotment shares | |
| 2025-07-30 | SH01 | capital | Capital allotment shares | |
| 2025-07-01 | CH01 | officers | Change person director company with change date | |
| 2025-06-11 | AA | accounts | Accounts with accounts type group | |
| 2025-03-28 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2025-03-20 | CH01 | officers | Change person director company with change date | |
| 2025-03-13 | AD02 | address | Change sail address company with old address new address | |
| 2025-02-27 | SH01 | capital | Capital allotment shares | |
| 2024-11-26 | SH01 | capital | Capital allotment shares | |
| 2024-09-20 | SH01 | capital | Capital allotment shares | |
| 2024-08-23 | SH01 | capital | Capital allotment shares | |
| 2024-07-24 | SH01 | capital | Capital allotment shares | |
| 2024-06-27 | SH01 | capital | Capital allotment shares | |
| 2024-06-04 | AA | accounts | Accounts with accounts type group |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 10
- Capital events
- 10
- Officers appointed
- 0
- Officers resigned
- 0
last 12 months
last 24 months
last 12 months
last 12 months
Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.
Year-on-year
FY2023 → FY2024 · period ending 2024-12-31 vs 2023-12-31
-
Turnover
-100%
£7,914,000 £0
-
Cash
+23.4%
£45,102,000 £55,638,000
-
Net assets
+20.8%
£49,307,000 £59,566,000
-
Employees
0%
34 34
-
Operating profit
-8.7%
-£32,968,000 -£35,831,000
-
Profit before tax
+3.2%
-£34,647,000 -£33,547,000
-
Wages
+1.2%
£7,007,000 £7,089,000
Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers