aibioMereo BioPharma gets second Nasdaq bid price period, to February 16, 2027
Tickers MREO
Nasdaq said on August 18, 2026 that the ADSs are still below $1.00 but the company is eligible for 180 more calendar days.
Key facts
- Company
- Mereo BioPharma Group plc (NASDAQ: MREO)
- News type
- Listings
- Primary source
- Mereo BioPharma Group plc 8-K (2026-08-19)
Mereo BioPharma Group plc said Nasdaq has given it an additional 180 calendar days, until February 16, 2027, to regain compliance with the $1.00 minimum bid price requirement. The London company disclosed the second notice in an 8-K filed August 19, 2026. Its American Depositary Shares, each representing five ordinary shares, trade on the Nasdaq Capital Market under the symbol MREO.
How the two periods run
Nasdaq first notified Mereo on February 17, 2026 that the ADSs no longer met the minimum bid price under Nasdaq Listing Rule 5550(a)(2). Under Rule 5810(c)(3)(A), the company received an initial 180-day period, until August 17, 2026. On August 18, 2026, Nasdaq staff sent a second notice. It said the company had not yet regained compliance but was eligible for the second period, which runs to February 16, 2027.
To regain compliance within that period, the closing bid price of the ADSs must be at least $1.00 for a minimum of 10 consecutive business days. Nasdaq staff will then confirm compliance in writing. If the company does not regain compliance by the end of the period, staff will give written notice that the securities will be delisted, and the company may appeal to a Nasdaq Hearings Panel. The 8-K says neither notice has an immediate effect on the listing. It does not give the recent closing price of the ADSs.
Mereo says it will keep monitoring the bid price and may consider available options to regain compliance. It also says it cannot give assurance that it will regain compliance or keep meeting the other listing requirements. The 8-K names no reverse split and sets no timetable for one.
The cash behind the listing
The annual report for 2025, filed March 19, 2026, shows net cash used in operating activities of $31.0 million, down from $32.8 million in 2024. The company says the decrease reflects $3.3 million of R&D tax credits received for 2023 and 2024, and a $0.5 million one-time milestone payment on leflutrozole, net of $0.1 million paid to Novartis. A $2.0 million insurance reimbursement received in 2024 had no 2025 counterpart.
Financing was small in 2025. The company reports $0.3 million of net cash from financing that year, against $46.2 million of net proceeds from the underwritten registered direct offering in 2024. The annual report puts total net cash from financing in 2024 at $46.1 million.
The company's filings show cash and cash equivalents of $69.8 million at the end of 2024 and $41.0 million at the end of 2025. The June 30, 2026 balance was $30.1 million, according to its quarterly report. The company's accumulated deficit was $501.0 million at December 31, 2025. The annual report says Mereo will need additional funding to complete development of its product candidates and to commercialize them if they are approved.
Losses and revenue
The annual report shows a 2025 net loss of $41.9 million, against $43.3 million in 2024. Research and development expense was $17.8 million, down from $20.9 million. Revenue was $500,000 in 2025 and $0 in 2024.
The programs and the partners
The annual report describes agreements with Ultragenyx Pharmaceutical for setrusumab, including manufacturing contracts. It also describes agreements with Novartis and AstraZeneca under which Mereo has agreed to make milestone payments and pay royalties. The annual report says the amount, timing and likelihood of those payments are not known and will remain uncertain for the foreseeable future.
The annual report credits lower payments for intangible assets and proceeds from the out-licensing of vantictumab for a smaller investing outflow in 2025.
What the filing leaves open
The 8-K does not give the closing bid price of the ADSs, the number of trading days already above $1.00, or the reason the company has not yet regained compliance. It names no partner and no reverse split ratio. The company's filings show cash of $30.1 million at June 30, 2026, against $41.0 million at the end of 2025, and the 8-K says nothing about how much cash the company expects to have when the second period ends on February 16, 2027.