Merus slumps on potential delay in cancer therapy filing, bigger Q3 loss

Merus NV

03/11/2022 14:19

** Shares of cancer drug developer Merus NV  MRUS.O  fall
27.9% to $14.6 in morning trade
    ** MRUS says it recently received feedback from FDA to
enroll additional patients in its study testing zenocutuzumab as
a potential treatment for a type of lung cancer or pancreatic
cancer
    ** Co says FDA recommended it to enroll patients for either
of the two indications to gather data to support a marketing
application 
    ** Co adds it is "assessing the impact from FDA's feedback"
on the timeline of filing for zenocutuzumab's marketing approval
    ** MRUS reports Q3 net loss of $24.6 mln, or 53 cents per
share, vs $14.9 mln, or 39 cents per share, year ago
    ** Co reports $372.9 million cash and cash equivalents as of
Sept. 30 
    ** It says cash reserves sufficient to fund company
operations beyond 2024 
    ** Including session's loss, stock down 60% YTD, compared
with a 15.3% decline in the Nasdaq Biotechnolgy index  .NBI 
 (Reporting by Aditya Samal)
 ((Aditya.Samal@thomsonreuters.com;))