Stock Markets

Merus reports promising phase 1/2 trial results for head and neck cancer therapy

Published

7 months ago

May 29, 2024

UTRECHT, The Netherlands and CAMBRIDGE, Mass. – Merus N.V. (NASDAQ:), a clinical-stage oncology company, has announced interim clinical data from its ongoing phase 1/2 trial, revealing a 67% response rate in patients with head and neck cancer treated with the combination of its bispecific antibody petosemtamab and pembrolizumab.

The data, as of March 6, 2024, includes results from 24 evaluable patients and will be presented at the American Society of Clinical Oncology (ASCO) Annual Meeting on June 3, 2024.

The company’s president and CEO, Dr. Bill Lundberg, expressed optimism regarding the combination’s clinical activity and safety profile, which was observed across various tumor PD-L1 expression levels and HPV status. Dr. Jerome Fayette, who will be presenting the data at ASCO, also shared a positive outlook on the potential of this treatment to set a new standard of care for first-line treatment of head and neck cancer.

During the trial, 45 patients were treated, and 32 remained on treatment at the time of the data cutoff. The company observed one confirmed complete response and 12 confirmed partial responses among the 24 patients in the efficacy population. The treatment was generally well-tolerated, with most adverse events being Grade 1 or 2 in severity, and no significant overlapping toxicities with pembrolizumab were noted.

Merus plans to initiate a phase 3 registration trial by the end of 2024, aiming to further investigate petosemtamab in combination with pembrolizumab for the first-line treatment of PD-L1 expressing head and neck cancer, regardless of HPV status.

Merus, recognized for developing full-length multispecific antibodies, aims to address the unmet needs in the treatment of deadly diseases like head and neck squamous cell carcinoma. The information presented here is based on a press release statement from the company.

InvestingPro Insights

Merus N.V. (NASDAQ:MRUS) has been in the spotlight with its promising clinical data, but what does the financial picture tell us about the company’s performance and market position? According to InvestingPro data, Merus has a market capitalization of $3.52 billion, which reflects investor confidence in the company’s growth potential. The company’s Price to Book ratio stands at 10.07 as of the last twelve months leading up to Q1 2024, signaling a premium valuation that investors are willing to pay for its assets relative to the book value.

Despite the company’s significant research and development efforts, the financial metrics highlight some challenges. The company’s revenue growth has seen a decline of 11.73% over the last twelve months as of Q1 2024, and its gross profit margin has been negative, sitting at -276.6% in the same period. This underlines the company’s current stage in the clinical development cycle, where investment in research often precedes revenue generation.

However, Merus has demonstrated impressive stock performance with a substantial 1-week price total return of 37.21%, which could be a response to positive clinical trial results and future growth expectations. Investors interested in the company’s future prospects should note that analysts have revised their earnings upwards for the upcoming period, as per one of the InvestingPro Tips, indicating potential optimism in its financial outlook.

For readers looking to delve deeper into Merus’s financial data and future projections, more InvestingPro Tips can be found at https://www.investing.com/pro/MRUS, including insights on the company’s cash position, sales growth forecasts, and profitability expectations. There are 19 additional InvestingPro Tips available for Merus, offering a comprehensive analysis for informed decision-making. To access these insights, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Stock Markets

BioAge Labs (BIOA) Azelaprag Trial Halt Raises Questions About Pre-IPO Disclosures – Hagens Berman

Published

13 hours ago

December 26, 2024

San Francisco, California–(Newsfile Corp. – December 25, 2024) – On December 9, 2024, just months after conducting an initial public offering in September 2024, BioAge Labs, Inc. (NASDAQ: BIOA) made the startling announcement that it was discontinuing a Phase 2 study for its lead product, azelaprag, intended to treat metabolic diseases such as obesity.

Hagens Berman has opened an investigation and urges investors in BioAge who purchased shares in the company’s IPO or on the open market and suffered substantial losses to submit your losses now.

Visit: www.hbsslaw.com/investor-fraud/bioa
Contact the Firm Now: BIOA@hbsslaw.com
844-916-0895

BioAge Labs, Inc. (BIOA) Investigation:

The investigation is focused on the propriety of BioAge’s disclosures about the safety data and other matters related to azelaprag, which the company said in its IPO documents has been “well-tolerated in 265 individuals across eight Phase 1 clinical trials.”

BioAge’s disclosures came into question after the market closed on December 6, 2024, when the company announced the discontinuation of the STRIDES Phase 2 clinical trial evaluating azelaprag in combination with tirzepatide for the treatment of obesity. BioAge said that liver transaminitis was observed in patients receiving azelaprag.

This news drove the price of BioAge shares down almost 80% on December 9, 2024.

“We’re focused on whether BioAge was transparent to investors about the azelaprag safety profile before the December 6 announcement,” said Reed Kathrein, the Hagens Berman partner leading the investigation.

If you invested in BioAge and have substantial losses, or have knowledge that may assist the firm’s investigation, submit your losses now »

If you’d like more information and answers to frequently asked questions about the BioAge investigation, read more »

Whistleblowers: Persons with non-public information regarding BioAge should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email BIOA@hbsslaw.com.

# # #

About Hagens Berman
Hagens Berman is a global plaintiffs’ rights complex litigation firm focusing on corporate accountability. The firm is home to a robust practice and represents investors as well as whistleblowers, workers, consumers and others in cases achieving real results for those harmed by corporate negligence and other wrongdoings. Hagens Berman’s team has secured more than $2.9 billion in this area of law. More about the firm and its successes can be found at hbsslaw.com. Follow the firm for updates and news at @ClassActionLaw.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/235182

Stock Markets

Celsius Holdings (CELH) Hit with Investor Class Action Amid Accusations of Oversold Inventory to Pepsi- Hagens Berman

Published

13 hours ago

December 26, 2024

CELH Investors with Losses Encouraged to Contact the Firm

San Francisco, California–(Newsfile Corp. – December 25, 2024) – Celsius Holdings (NASDAQ:), Inc. (NASDAQ: CELH) and certain of its C-Suite officers are embroiled in a securities class action lawsuit, claiming they misrepresented and concealed crucial information about the company’s financial performance, especially concerning its key customer, PepsiCo (NASDAQ:).

Hagens Berman is investigating the allegations and urges investors in Celsius who purchased shares and suffered substantial losses to submit your losses now.

Class Period: Feb. 29, 2024 – Sept. 4, 2024
Lead Plaintiff Deadline: Jan. 21, 2025
Visit: www.hbsslaw.com/investor-fraud/celh
Contact the Firm Now: CELH@hbsslaw.com
844-916-0895

Celsius Holdings, Inc. (CELH) Securities Class Action (WA:):

The lawsuit alleges that during the Class Period, Celsius failed to disclose to investors several critical points:

Oversold Inventory: Celsius significantly oversold inventory to Pepsi beyond demand, leading to a potential drastic reduction in future purchases.
Declining Sales: As Pepsi depleted its overstock, Celsius’ sales were projected to decline, impacting its financial health and outlook.
Unsustainable Sales Rates: The sales rates to Pepsi were unsustainable and created a misleading impression of the company’s performance.
Misleading Metrics: Consequently, Celsius’ business metrics and financial prospects were overstated

The situation came to light on May 28, 2024, when Celsius’ stock price plummeted nearly 13% following reports from Nielsen indicating slowed sales growth. Analysts highlighted the possibility of significantly reduced sales as Pepsi cut back its inventory.

The stock took another hit on September 4, 2024, dropping over 11% after a company presentation revealed a shortfall of $100 million to $120 million in Pepsi orders compared to the previous year. It was also disclosed that Pepsi had held several million excess cases over the last 18 months.

These revelations have led shareholder rights firm Hagens Berman to investigate the allegations.

“We’re investigating whether Celsius deliberately painted an overly optimistic picture of its relationship with Pepsi, misleading investors about the true state of its financial health and sales sustainability,” said Reed Kathrein, the Hagens Berman partner leading the investigation.

If you invested in Celsius and have substantial losses, or have knowledge that may assist the firm’s investigation, submit your losses now »

If you’d like more information and answers to frequently asked questions about the Celsius case and our investigation, read more »

Whistleblowers: Persons with non-public information regarding Celsius Holdings should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email CELH@hbsslaw.com.

# # #

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/235180

Stock Markets

Suriname fugitive ex-President Desi Bouterse dead at 79

Published

13 hours ago

December 26, 2024

By Ank Kuipers

PARAMARIBO (Reuters) -Suriname’s fugitive former President Desi Bouterse has died aged 79, the country’s government said on Wednesday, almost a year after he fled authorities to avoid jail following his conviction over the murder of 15 political activists in 1982.

“The government has been informed through the family and its own investigations of the passing of Mr. D. Bouterse, ex-President of the Republic of Suriname,” Foreign Minister Albert Ramdin told Reuters.

The former leader died on Tuesday, the government said, without confirming where, or even in which country. Last week Surinamese authorities raided his home – where supporters gathered to pay their respects on Wednesday morning – but did not find him.

Surinamese President Chan Santokhi, who investigated the case as a police commissioner and later as justice minister, expressed condolences to Bouterse’s family and urged calm in a statement.

“In the spirit of the holiday season and year-end, the president calls on all to remain dignified and calm, maintain peace and order and engage in prayer in the spirit of these special days,” the statement said.

Bouterse dominated politics in the tiny South American country for decades, leading a coup in 1980 and finally leaving office in 2020.

In 2019 he and six others were convicted for their role in the 1982 murders of 15 leading government critics – including lawyers, journalists, union leaders, soldiers and university professors – for which Bouterse received a 20-year prison sentence.

Bouterse had claimed the murdered men were connected to a planned invasion of the former Dutch colony.

Following years of legal back and forth, Bouterse was ordered to report to prison in January but he did not show up on the appointed date.

Though Bouterse avoided prison by going on the run, Reed Brody, a U.S. war crimes prosecutor who monitored the case for the International Commission of Jurists, said justice had caught up with the convicted former president before he died.