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Merus reports promising phase 1/2 trial results for head and neck cancer therapy
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.
(Reuters) -Private equity firm Insight Partners is on the brink of closing a new $10 billion-plus fund, roughly half the amount originally targeted, the Financial Times reported on Sunday, citing five people with knowledge of its plans.
Insight will not formally close its 13th fund until early next year, the report said, adding that the final figure may be closer to $12 billion.
Insight Partners declined to comment on the report.
The report said Insight is using a private equity-style structure to sell more than $1 billion worth of stakes in start-ups and to free up cash to return to investors.
One of the start-ups is Israeli cybersecurity firm Wiz, which had called off a $23 billion deal with Google parent Alphabet (NASDAQ:) in July, the report said.
New York-based Insight raised $20 billion for its 12th flagship fund in 2022, aiming to ramp up investments in software and technology companies.
JERUSALEM (Reuters) -Prime Minister Benjamin Netanyahu said Israel would inflict a “heavy price” on the Iran-aligned Houthis who control northern Yemen, after they reached central Israel with a missile on Sunday for the first time.
Houthi military spokesman Yahya Sarea said the group struck with a new hypersonic ballistic missile that travelled 2,040 km (1270 miles) in just 11 1/2 minutes.
After initially saying the missile had fallen in an open area, Israel’s military later said it had probably fragmented in the air, and that pieces of interceptors had landed in fields and near a railway station. Nobody was reported hurt.
Air raid sirens had sounded in Tel Aviv and across central Israel moments before the impact at around 6:35 a.m. local time (0335 GMT), sending residents running for shelter. Loud booms were heard.
Reuters saw smoke billowing in an open field in central Israel.
At a weekly cabinet meeting, Netanyahu said the Houthis should have known that Israel would exact a “heavy price” for attacks on Israel.
“Whoever needs a reminder of that is invited to visit the Hodeida port,” Netanyahu said, referring to an Israeli retaliatory air strike against Yemen in July for a Houthi drone that hit Tel Aviv.
The Houthis have fired missiles and drones at Israel repeatedly in what they say is solidarity with the Palestinians, since the Gaza war began with a Hamas attack on Israel in October.
The drone that hit Tel Aviv for the first time in July killed a man and wounded four people. Israeli air strikes in response on Houthi military targets near the port of Hodeidah killed six and wounded 80.
Previously, Houthi missiles have not penetrated deep into Israeli air space, with the only one reported to have hit Israeli territory falling in an open area near the Red Sea port of Eilat in March.
Israel should expect more strikes in the future “as we approach the first anniversary of the Oct. 7 operation, including responding to its aggression on the city of Hodeidah,” Sarea said.
The deputy head of the Houthi’s media office, Nasruddin Amer, said in a post on X on Sunday that the missile had reached Israel after “20 missiles failed to intercept” it, describing it as the “beginning”.
The Israeli military also said that 40 projectiles were fired towards Israel from Lebanon on Sunday and were either intercepted or landed in open areas.
“No injuries were reported,” the military said.
PARIS (Reuters) – Eight people have died trying to cross the Channel from France to England, French authorities said on Sunday, confirming earlier media reports.
This latest incident follows the deaths of 12 people earlier this month when their boat capsized in the Channel on its way to Britain and highlights the pressure on the British and French governments to find ways to tackle the boat crossings.
Jacques Billant, the Prefect of the Pas-de-Calais region, said that rescue crews were alerted that a boat with 59 people onboard was in difficulty in waters off the coast of Ambleteuse in the Pas-de-Calais area.
“A new drama took place around one in the morning and we deplore the death of eight people,” he told a news conference, adding that the other 51 onboard were now in the care of rescue and medical crews.
The dead were men from Eritrea, Sudan, Syria, Egypt, Iran and Afghanistan, he added.
The Channel is one of the world’s busiest shipping lanes and currents are strong, which makes crossing on small boats dangerous.
The latest incident brings to 46 the number of people who have died trying to cross the Channel from France since the start of the year, Billant said.
On September 14 alone there were eight attempts to cross the Channel from France and some 200 migrants were rescued, he said.
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