Merus on track for best day on promising cancer drug trial data

Elevation Oncology

27/05/2022 16:01

** Drug developer Merus' shares  MRUS.O  up 23% at $117.15
in morning trade - biggest pct jump in almost eight months
    ** Co releases abstract on early-to-mid stage trial of
experimental drug zenocutuzumab against some advanced cancers,
which shows 34% overall response rate and 9.1 months median
duration of response across multiple tumor types  urn:newsml:reuters.com:*:nGNX3VLngs
    ** Brokerage SVB Leerink says responses similar to Elevation
Oncology's  ELEV.O  drug, but MRUS has an advantage due to a
larger sample size than ELEV's trial  urn:newsml:reuters.com:*:nL3N2XJ1TC
    ** All 10 brokerages covering MRUS rate the stock "buy" or
higher; their median PT is $44
    ** Despite session's gain, stock down 48% YTD

 (Reporting by Leroy Leo in Bengaluru)
 ((Leroy.Dsouza@thomsonreuters.com ; Twitter: https://twitter.com/LeroyLeo7;))