IPO Merus trading up 5%

|By:, SA News Editor

IPO Merus N.V. (NASDAQ:MRUS) is holding its ground on its debut day. Shares are up 5% from the issue price of $10 on modest turnover of 868K shares.

The Netherlands-based company develops immuno-oncology-focused bispecific antibody therapeutics based on its technology platform called Biclonics. A bispecific antibody has the ability to bind to two or more targets simultaneously. Its lead product candidate is MCLA-128, in Phase 1/2 development in Europe for the treatment of various solid tumors, including breast, colorectal and ovarian cancers. Other pipeline candidates are MCLA-117 for blood cancers, MCLA-158 for colorectal cancer, MCLA-134 for solid tumors and MCLA-145 for solid tumors.

2015 Financials (€M): Revenue: 2.0 (+51.7%); Operating Expenses: 25.0 (+33.7%); Net Loss: (23.2) (-33.2%); CF Ops: (23.0) (-57.9%).

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