Segment information

6 Months Ended

Jun. 30, 2025

18. Segment information

The Company has one operating segment focused on the business of developing rare disease therapies. The chief operating decision maker, its Chief Executive Officer, assesses performance for the entity and decides how to allocate resources based on consolidated net loss before income tax, which is reported on the condensed consolidated statements of operations and comprehensive loss. The measure of segment assets is reported on the condensed consolidated balance sheet as total consolidated assets.

The chief operating decision maker uses consolidated net loss before income tax and budget-to-actual variances for consolidated net loss before income tax to assess the performance of the operating segment.

The following table presents certain financial data for the Company’s reportable segment, including significant segment expenses regularly provided to the chief operating decision maker to assess performance of the Company.


	Three Months Ended June 30,						Six Months Ended June 30,
	2025			2024			2025			2024
	($'000)			($'000)			($'000)			($'000)
Revenue	$	500		$	—		$	500		$	—
Cost of revenue		(132	)		—			(132	)		—
Research and development expenses
Setrusumab (BPS-804/UX143)		(3,687	)		(1,448	)		(5,930	)		(2,357	)
Alvelestat (MPH-966)		(1,396	)		(2,902	)		(2,761	)		(5,515	)
Etigilimab (MPH-313)		(224	)		(468	)		(431	)		(818	)
Other		(66	)		(128	)		(181	)		(249	)
General and administrative expenses		(5,494	)		(7,868	)		(12,766	)		(13,777	)
Other segment items		(4,117	)		559			(5,802	)		1,508
Net loss before income tax	$	(14,616	)	$	(12,255	)	$	(27,503	)	$	(21,208	)

The revenue recognized by the Company during the three and six months ended June 30, 2025 was attributable to its operations in the U.K.

Other segment items consist of interest income, interest expense, change in fair value of warrants, foreign currency transaction loss/(gain), and benefit from research and development tax credit. These are disclosed in the condensed consolidated statements of operations and comprehensive loss.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

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+ Details

Mereo BioPharma Group plc 10-Q