Merus gains on US commercialization agreement for cancer therapy

Merus NV

02/12/2024 13:40

** U.S. listed-shares of Merus NV  MRUS.O  up about 3% at
$46.19 premarket 
    ** Co has entered into a U.S. commercialization agreement
with private biotech Partner Therapeutics 
    ** Under the deal, Partner will assume full rights to U.S.
commercialization of MRUS' gene-targeting cancer therapy
zenocutuzumab or zeno for the treatment of NRG1 fusion-positive
cancer in the United States
    ** In exchange, MRUS will receive an upfront payment and is
eligible to receive milestones and high single-digit to low
double-digit royalty payments tied to the therapy's future
annual sales
    ** Last month, U.S. Food and Drug Administration extended
the review of zeno to allow sufficient time to assess some
recent information submitted by MRUS to the agency
    ** Co is seeking approval for zeno, which targets the NRG1
gene associated with progression of several tumors, for
treatment of hard-to-treat types of lung and pancreatic cancers
    ** As of last close, MRUS was up ~57% YTD

 (Reporting by Bhanvi Satija in Bengaluru)
 ((Bhanvi.Satija@thomsonreuters.com; Outside U.S. +91
9873062788;))