[8-K] Mereo BioPharma Group plc American Reports Material Event

Rhea-AI Filing Summary

ASE Technology Holding Co., Ltd. (NYSE: ASX) filed a Form 6-K on 10 July 2025 disclosing its unaudited June and second-quarter 2025 revenues.

• June 2025 consolidated: NT$49.51 billion (US$1.661 billion), +1.0 % MoM, +5.5 % YoY.
• June ATM segment: NT$30.67 billion (US$1.029 billion), +0.3 % MoM, +17.7 % YoY.
• Q2 2025 consolidated: NT$150.75 billion (US$4.838 billion), +1.8 % QoQ, +7.5 % YoY.
• Q2 ATM segment: NT$92.57 billion (US$2.972 billion), +6.8 % QoQ, +19.0 % YoY.

The ATM (assembly, testing & materials) business materially outpaced overall company growth, expanding high-teens to low-20 % YoY in both monthly and quarterly comparisons. Revenue translated into U.S. dollars shows stronger increases (+14.2 % YoY in June; +11.2 % YoY for Q2), reflecting FX benefits.

No profitability, margin or cash-flow data were provided, and figures remain unaudited. Sequential growth is positive but modest, indicating a gradual business up-cycle rather than a sharp rebound. Management included standard forward-looking-statement caveats and referred investors to the 2024 Form 20-F for risk factors.

Positive

• Consolidated Q2 revenue up 7.5 % YoY, indicating demand recovery in semiconductor backend services.
• ATM segment revenue grew 19 % YoY, outperforming and potentially enhancing overall margin mix.
• U.S.-dollar revenue growth of 11.2 % YoY benefits from both volume and FX, signalling global customer strength.

Negative

• Sequential growth remained modest (1.8 % QoQ), implying a gradual rather than rapid recovery.
• Filing provides no margin, EPS or cash-flow data, limiting insight into profitability.
• Figures are unaudited; final results could differ.

Insights

Sell-Side Semiconductor Analyst

TL;DR: Double-digit YoY revenue growth—especially in ATM—signals resilient demand; limited sequential uptick tempers enthusiasm.

Context & Trend: After a cyclical downturn in 2023–24, ASEH’s 7.5 % YoY consolidated growth and 19 % YoY ATM surge suggest packaging/test demand is normalising alongside AI-driven capacity needs. The stronger USD comparisons (+11 %-14 %) point to FX tailwinds.

Investment View: Positive bias (rating +1). The ATM mix typically carries higher gross margin; sustained outperformance could lift blended margin when full earnings are reported in August. Still, the <1 % MoM uplift underlines a slow sequential recovery, limiting near-term estimate revisions.

Semiconductor Industry Specialist

TL;DR: Revenue momentum improving but lacks visibility on costs, therefore overall impact is neutral.

The data confirm packaging & test outsourcing demand, yet the absence of unit, ASP or capacity utilisation metrics complicates assessing profitability. A 6.8 % QoQ rise in ATM is solid but could reflect seasonal smartphone ramps rather than structural share gains. Until margin details surface, I categorise the filing as informational rather than a catalyst.

0001719714falsetrueX000-00000000001719714dei:AdrMember2025-07-092025-07-090001719714us-gaap:CommonStockMember2025-07-092025-07-0900017197142025-07-092025-07-09

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

Current Report

Pursuant to Section 13 or 15(d) of

the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): July 9, 2025

MEREO BIOPHARMA GROUP PLC

(Exact name of registrant as specified in its charter)

England and Wales		001-38452		Not Applicable
(State or other jurisdiction of incorporation)		(Commission File Number)		(IRS Employer Identification No.)

4th Floor, One Cavendish Place,

London, W1G 0QF

United Kingdom

(Address of principal executive offices, including zip code)

+44-333-023-7300

(Registrant’s telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol		Name of each exchange on which registered
American Depositary Shares, each representing five Ordinary Shares, par value £0.003 per share		MREO		The Nasdaq Stock Market LLC
Ordinary Shares, nominal value £0.003 per share*		*		The Nasdaq Stock Market LLC

*Not for trading, but only in connection with the listing of the American Depositary Shares on The Nasdaq Stock Market LLC.

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 8.01 Other Events.

On July 9, 2025, Mereo BioPharma Group plc (“Mereo” or the “Company”) and Ultragenyx Pharmaceutical Inc. (“Ultragenyx”) announced that the randomized, placebo-controlled Phase 3 portion of the Orbit study evaluating UX143 (setrusumab) in pediatric and young adult patients with osteogenesis imperfecta is progressing toward a final analysis consistent with the original plan, expected around the end of the year.

The Data Monitoring Committee met and informed Ultragenyx that UX143 demonstrates an acceptable safety profile and Ultragenyx and the Company should continue the study to the final analysis.

Consistent with the statistical analysis plan, data from the UX143 Cosmic study were not analyzed at this interim timepoint. Study conduct is going well and safety in this younger patient population is consistent with the safety profile in the other studies.

Patients will continue dosing in the ongoing Phase 3 Orbit and Cosmic clinical studies with the final analyses to be conducted after patients have been on therapy for at least 18 months. The threshold for the Phase 3 Orbit final analysis is p<0.04 and for the Phase 3 Cosmic final analysis is p<0.05.

Forward Looking Statements

This Current Report on Form 8-K contains “forward-looking statements.” All statements other than statements of historical fact contained herein are forward-looking statements within the meaning of Section 27A of the Securities Act, and Section 21E of the Exchange Act. Forward-looking statements usually relate to future events and anticipated revenues, earnings, cash flows or other aspects of the Company’s operations or operating results. Forward-looking statements are often identified by the words “believe,” “expect,” “anticipate,” “plan,” “intend,” “foresee,” “should,” “would,” “could,” “may,” “estimate,” “outlook” and similar expressions, including the negative thereof. The absence of these words, however, does not mean that the statements are not forward-looking. These forward-looking statements are based on Mereo’s current expectations, beliefs and assumptions concerning future developments and business conditions and their potential effect on Mereo. While management believes that these forward-looking statements are reasonable as and when made, there can be no assurance that future developments affecting Mereo will be those that it anticipates. All of Mereo’s forward-looking statements involve known and unknown risks and uncertainties some of which are significant or beyond its control and assumptions that could cause actual results to differ materially from Mereo’s historical experience and its present expectations or projections. Such risks and uncertainties include, among others, the uncertainties inherent in the clinical development process; Mereo’s reliance on third parties to conduct and provide funding for its clinical trials; Mereo’s dependence on enrollment of patients in its clinical trials; and Mereo’s dependence on its key executives. You should carefully consider the foregoing factors and the other risks and uncertainties that affect Mereo’s business, including those described in the “Risk Factors” section of its latest Annual Report on Form 10-K, as well as discussions of potential risks, uncertainties, and other important factors in Mereo’s subsequent filings with the Securities and Exchange Commission. Mereo wishes to caution you not to place undue reliance on any forward-looking statements, which speak only as of the date hereof. Mereo undertakes no obligation to publicly update or revise any of our forward-looking statements after the date they are made, whether as a result of new information, future events or otherwise, except to the extent required by law.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.

	MEREO BIOPHARMA GROUP PLC
Date: July 10, 2025	By:	/s/ Christine Fox
		Name:	Christine Fox
		Title:	Chief Financial Officer

FAQ

What were ASE Technology's consolidated net revenues for Q2 2025?

ASE reported NT$150.75 billion (US$4.838 billion) in unaudited consolidated net revenue for Q2 2025.

How much did ASE Technology's ATM segment grow year-over-year in Q2 2025?

ATM revenue increased 19.0 % YoY to NT$92.57 billion.

What was the month-over-month change in consolidated revenue for June 2025?

June consolidated revenue rose 1.0 % MoM to NT$49.51 billion.

Did the filing include profit or EPS figures?

No. The Form 6-K only disclosed unaudited revenue numbers; profitability metrics were not provided.

Why are ASE Technology's U.S.-dollar revenues growing faster than NT$ figures?

A stronger U.S. dollar versus the New Taiwan dollar provided an additional FX tailwind, lifting USD-denominated growth to 11.2 % YoY for Q2.