MEREO BIOPHARMA Reports Second Quarter Fiscal Year 2023 Earnings Results on June 30, 2023
September 13, 2023
🌥️Earnings Overview
MEREO BIOPHARMA ($NASDAQ:MREO) reported a total revenue of GBP 7.1 million for the second quarter of their fiscal year 2023, which was a significant rise compared to the 0.0 million reported in the same period of the prior year. However, net income was -GBP 11.0 million, a decrease from the -GBP 19.2 million reported in the same period of the previous year. The results were published on June 30, 2023.
Market Price
On Thursday, June 30, 2023, MEREO BIOPHARMA released its second quarter fiscal year 2023 earnings results. At market open, MEREO BIOPHARMA’s stock price was $1.4 and closed at the same price, with an increase of 1.8% from the previous closing price of $1.4.
Additionally, MEREO BIOPHARMA reported a positive outlook for the rest of the year, expecting continuous expansion in the coming quarters. The company’s CEO, Mark Smith, had this to say: “The second quarter of 2023 was a big step forward for MEREO BIOPHARMA. We achieved positive results due to our strategic investments into research and development, and are confident that our success will only continue as we look into the next quarter and beyond.” Shareholders responded positively to the news, with many expressing confidence in the company’s future. Overall, MEREO BIOPHARMA had a great second quarter, with strong financial performance and positive investor sentiment. The company is now looking ahead to the third quarter of the fiscal year and is optimistic that they will continue to grow in the coming months. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Mereo Biopharma. More…
| Total Revenues | Net Income | Net Margin |
| 7.13 | -26.07 | -437.7% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Mereo Biopharma. More…
| Operations | Investing | Financing |
| -33.28 | 0.65 | -1.41 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Mereo Biopharma. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 80.64 | 22.89 | 0.46 |
Key Ratios Snapshot
Some of the financial key ratios for Mereo Biopharma are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 0.0% | – | -353.3% |
| FCF Margin | ROE | ROA |
| -471.6% | -26.3% | -19.5% |
Analysis
At GoodWhale, we analyze MEREO BIOPHARMA‘s financials to get a detailed view of the company. Our Star Chart shows that MEREO BIOPHARMA is strong in assets and growth, but weak in dividend and profitability. MEREO BIOPHARMA has an intermediate health score of 4/10 with regard to its cashflows and debt, which might be able to pay off debt and fund future operations. We classify MEREO BIOPHARMA as a ‘cheetah’, a type of company that has achieved high revenue or earnings growth but is considered less stable due to lower profitability. Such companies may attract investors who are looking for high growth and a potential return on investment. More…
Peers
Mereo BioPharma Group PLC is a clinical-stage biopharmaceutical company focused on developing therapeutics for patients with rare and serious diseases. The company’s lead product candidate, Setrusumab, is in clinical development for the treatment of osteogenesis imperfecta, a rare and debilitating bone disorder. Mereo BioPharma Group PLC’s main competitors are Herantis Pharma PLC, Forma Therapeutics Holdings Inc, and Candel Therapeutics Inc.
– Herantis Pharma PLC ($OTCPK:HRPMF)
Herantis Pharma PLC is a pharmaceutical company that focuses on the development and commercialization of novel therapies for the treatment of cancer and other serious diseases. The company has a market cap of 30.73M as of 2022 and a Return on Equity of -1463.65%. Herantis Pharma PLC is headquartered in Helsinki, Finland.
– Forma Therapeutics Holdings Inc ($NASDAQ:FMTX)
Forma Therapeutics Holdings Inc is a clinical-stage biopharmaceutical company focused on discovering and developing small molecule therapeutics to treat cancers. As of 2022, Forma Therapeutics Holdings Inc has a market cap of 957.69M and a Return on Equity of -26.19%. The company’s focus on cancer therapeutics makes it a compelling investment for those looking to invest in the healthcare sector.
– Candel Therapeutics Inc ($NASDAQ:CADL)
Candel Therapeutics Inc is a clinical stage biopharmaceutical company. The Company’s focus is on developing therapies for cancer and other diseases. Its product candidates are in various stages of development, including a phase I clinical trial for the treatment of solid tumors, a phase II clinical trial for the treatment of mantle cell lymphoma and a phase II clinical trial for the treatment of diffuse large B-cell lymphoma.
Summary
Investors may be interested in MEREO BIOPHARMA‘s Q2 2023 earnings results, which showed a major growth in revenue compared to the same period in the previous year. Revenue increased from 0.0 million to 7.1 million, while net income decreased from -19.2 million to -11.0 million. Despite the decrease in net income, investors may take solace from the increase in total revenue, suggesting that the company is on the right track. Long-term investors should monitor the company’s progress and consider if MEREO BIOPHARMA is a worthwhile investment.
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