Drugmaker Merus slips after share offering launch

Merus NV

03/06/2025 21:28

**  U.S.-listed shares of Merus NV MRUS.O down 6.3% to $58.50 post-market as co seeks equity raise

    ** Dutch biotech firm launches stock offering; targeted raise not disclosed

    ** Co plans to use net offering proceeds to advance clinical development of its product candidates, for preclinical research and technology development, and for working capital among other purposes

    ** Jefferies, BofA, Leerink, Guggenheim, Truist and LifeSci Capital are jt bookrunners

    ** On May 23, MRUS shares surged ~33% to close at $55.14 after co's lead candidate petosemtamab in combination with Merck's MRK.N Keytruda delayed progression of a type of head and neck cancer in a mid-stage trial

    ** MRUS shares on Tues finished up 6.6% at $62.42, up 50% over the past seven sessions

    ** Co has ~69.2 mln shares outstanding for $4.3 bln market cap

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))