Merus N.V.; Nasdaq: MRUS
Shares of Netherlands-based Merus N.V. are up over 45% today on heavy volumes. Traded on the Nasdaq under ticker symbol MRUS, shares closed yesterday at $14.15 but today MRUS has hit an intraday high of $22.19 on news of a collaboration agreement with Incyte Corporation (Nasdaq: INCY).
Merus is a clinical-stage immuno-oncology company developing innovative bispecific antibody therapeutics with the goal of treating and potentially curing cancer patients. The global, strategic collaboration agreement focuses on the research, discovery and development of bispecific antibodies utilizing Merus’ proprietary Biclonics® technology platform. The Collaboration and License Agreement grants Incyte the exclusive rights for up to eleven bispecific antibody research programs, including two of Merus’ current preclinical immuno-oncology discovery programs.
From the joint press release:
“This transformative, global collaboration further underscores the potential of Merus’ Biclonics® technology platform and establishes a strong relationship with Incyte, a leader in innovative drug development,” said Ton Logtenberg, Ph.D., Chief Executive Officer of Merus. “We look forward to expanding our pipeline under this agreement, as we efficiently exploit our preclinical discovery engine and progress our most advanced, proprietary assets in the clinic.”
MRUS was trading below $8.00 in June. Three analysts follow MRUS and all have assigned MRUS a rating of “Strong Buy”.
I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 96 hours. All information, or data, is provided with no guarantees of accuracy.
|Last Price a/o 1:41 PM EST||$ 21.00|
|Market Cap||$233.3 million|
|Shares Outstanding||16.49 million|
|Share Float||13.25 million|
|Short Interest Ratio||1.73|