Subsequent Events |
6 Months Ended |
|---|---|
Jun. 30, 2026 | |
| Subsequent Events [Abstract] | |
| Subsequent Events | 18. Subsequent events On August 11, 2026, the Company entered into an Option and License Agreement (the “Sentynl Agreement”) with Sentynl Therapeutics, Inc. (“Sentynl”) for the U.S. commercial and global manufacturing rights to alvelestat for AATD-LD. Under the Sentynl Agreement, Mereo will receive a non-refundable option fee and, on option exercise, is eligible to receive $40 million in upfront and R&D payments, up to $435 million in potential milestones, and double-digit tiered royalties on U.S. sales of alvelestat. Mereo will lead the global Phase 3 study and regulatory interactions until the study is completed. During the option period, the Company and Sentynl will collaborate to advance manufacturing and refine the Phase 3 study design. |