Merus Stock Price, News & Analysis

Merus N.V. (NASDAQ: MRUS) announced financial results for Q2 2024 and provided a business update. Key highlights include:

• Petosemtamab showed a 67% response rate in combination with pembrolizumab in 1L HNSCC
• First patients dosed in phase 3 trial for petosemtamab monotherapy in 2/3L HNSCC
• Successful public offering raising $460M gross proceeds
• Cash runway extended into 2028
• FDA accepted BLA for zenocutuzumab in NRG1+ NSCLC and PDAC for priority review

As of June 30, 2024, Merus had $846.4 million in cash and equivalents. Q2 2024 saw collaboration revenue decrease by $3.2M, while R&D expenses increased by $20.8M and G&A expenses rose by $6.5M compared to Q2 2023.

Merus N.V. (Nasdaq: MRUS) has announced the dosing of the first patient in its phase 3 trial (LiGeR-HN2) evaluating petosemtamab in previously treated recurrent/metastatic head and neck squamous cell carcinoma (r/m HNSCC). The trial will compare petosemtamab to investigator's choice of single agent chemotherapy or cetuximab. The FDA has confirmed that the 1500 mg every two weeks dosage is appropriate for further development in HNSCC as monotherapy and in combination with pembrolizumab. This dosage will be used in both the 2/3L phase 3 trial (LiGeR-HN2) and the 1L trial (LiGeR-HN1) in r/m HNSCC. Merus believes petosemtamab has the potential to become the new standard of care across r/m HNSCC.

Merus announced the dosing of the first patient in its phase 2 trial of petosemtamab combined with standard chemotherapy for second-line metastatic colorectal cancer (mCRC). The trial will assess safety and preliminary antitumor activity in approximately 40 patients previously untreated with EGFR inhibitors and without KRAS mutations. This study marks a significant step in Merus' oncology program, expanding from head and neck cancer to mCRC.

Merus has appointed Dr. Fabian Zohren as Chief Medical Officer effective July 1, 2024. Dr. Zohren succeeds Dr. Andrew Joe, who will stay on as a consultant for three months. In addition, Hui Liu, the EVP, Chief Business Officer & Head of Merus U.S., will be leaving the company. Merus is actively seeking a replacement for the business development role. Dr. Zohren joins from ImmunoGen, where he served as SVP and CMO, and brings extensive experience from Pfizer, Takeda, and other firms.

CEO Bill Lundberg expressed confidence in Dr. Zohren's ability to advance Merus' key clinical candidate, petosemtamab, which is nearing phase 3 trials. Dr. Joe was praised for securing two Breakthrough Therapy Designations for Zeno and leading the BLA submission for NRG1+ cancers. Hui Liu was acknowledged for his critical role in establishing the U.S. office and securing foundational collaborations.

Merus N.V. (Nasdaq: MRUS) announced promising results for its bispecific antibody MCLA-129 in treating METex14 non-small-cell lung cancer (NSCLC) at the 2024 ASCO Annual Meeting. The study involved 22 patients, with 64% continuing treatment as of February 16, 2024. MCLA-129 showed a 53% confirmed partial response rate and an 80% reduction in tumor size in evaluable patients. The safety profile included infusion-related reactions in 86% of patients, with serious reactions in 18%. The company plans to start a new cohort investigation combining MCLA-129 with chemotherapy later this year.

Merus presented interim clinical data on MCLA-145 at the 2024 ASCO Annual Meeting. MCLA-145, a bispecific antibody targeting CD137 and PD-L1, was tested as monotherapy and in combination with pembrolizumab in patients with advanced or metastatic solid tumors. Key findings include a manageable safety profile and early clinical activity in difficult-to-treat cancers. Specifically, 5 partial responses were observed in monotherapy patients across various cancer types and 2 out of 6 patients at the recommended dose showed partial responses. In combination therapy, 1 partial response and 1 complete response were observed. MCLA-145 treatments showed reduced Grade ≥3 adverse events with less frequent dosing schedules. The company plans to advance clinical development of MCLA-145 potentially through collaboration.

Merus N.V. (Nasdaq: MRUS), a clinical-stage oncology company, announced an upsized public offering of 7,550,000 common shares at $53.00 per share, expected to raise approximately $400.2 million in gross proceeds.

The offering includes an option for underwriters to purchase an additional 1,132,500 shares. The proceeds will be used to advance clinical development, preclinical research, and general corporate purposes. The offering is expected to close on May 31, 2024, subject to customary conditions. Joint book-running managers include Jefferies, BofA Securities, Leerink Partners, Guggenheim Securities, and BMO Capital Markets, with Van Lanschot Kempen as lead manager.

Merus N.V. (Nasdaq: MRUS), a clinical-stage oncology firm, announced its participation in the Jefferies Global Healthcare Conference on June 5, 2024. Bill Lundberg, M.D., CEO of Merus, will engage in a fireside chat at 11:00 a.m. ET. The firm, known for developing multispecific antibodies including Biclonics® and Triclonics®, will live webcast the chat on its Investors page, with the recording accessible for a time post-event.

On May 28, 2024, Merus N.V. (Nasdaq: MRUS), a clinical-stage oncology company, announced a proposed public offering of $300 million in common shares. The offering includes a 30-day option for underwriters to purchase an additional 15% of the shares. The funds will be used for clinical development, preclinical research, technology development, and general corporate purposes. The offering is subject to market conditions and regulatory approvals. Key managers for the offering include Jefferies, BofA Securities, Leerink Partners, Guggenheim Securities, and BMO Capital Markets, with Van Lanschot Kempen acting as the lead manager.