logo
Twitter
Discord
Email
logo
Merus N.V.

Merus N.V.

NASDAQ•MRUS
CEO: Dr. Sven Ante Lundberg M.D.
Sector: Healthcare
Industry: Biotechnology
Listing Date: 2016-05-19
Merus N.V., a clinical-stage immuno-oncology company, engages in the development of antibody therapeutics in the Netherlands. Its bispecific antibody candidate pipeline includes Zenocutuzumab (MCLA-128), which is in a phase 2 clinical trials for the treatment of patients with metastatic breast cancer and castration-resistant prostate cancer, as well as in Phase 1/2 clinical trials for the treatment of solid tumors that harbor Neuregulin 1. The company is also developing MCLA-158, which is in a phase I clinical trial for the treatment of solid tumors; MCLA-145, which is in phase 1 clinical trials for the treatment of solid tumors; MCLA-129, which is in phase 1/2 clinical trials for the treatment of patients with advanced non-small cell lung cancer and other solid tumors; and ONO-4685 that is Phase 1 clinical trial to treat relapsed/refractory T cell lymphoma. In addition, it has collaboration agreement with Betta Pharmaceuticals Co. Ltd for the research and development of stage bispecific antibody candidates include MCLA-129; collaboration with Incyte Corporation for the development of MCLA-145; and collaboration with Gilead Sciences, Inc. to discover novel antibody-based trispecific T-cell engagers. The company was incorporated in 2003 and is headquartered in Utrecht, the Netherlands.
Contact Information
Uppsalalaan 17, 3rd & 4th floor, Utrecht, 3584 CT, Netherlands
31-30-253-8800
www.merus.nl
Market Cap
$7.30B
P/E (TTM)
-20.8
45.1
Dividend Yield
--
52W High
$96.28
52W Low
$33.19
52W Range
100%
Rank62Top 82.4%
2.3
F-Score
Modified Piotroski Analysis
Based on 10-year fundamentals
Weak • 2.3 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2015-2024

Financial Dashboard

Q3 2025 Data

Revenue

$10.37M-1.88%
4-Quarter Trend

EPS

-$1.26-13.70%
4-Quarter Trend

FCF

-$85.25M+5.64%
4-Quarter Trend

2025 Q3 Earnings Highlights

Key Highlights

Revenue Jumps On Milestones Total revenue reached $47.5M for nine months 2025, up $20.5M, driven by Gilead amortization and PTx commercial sales.
Genmab Acquisition Announced Executed agreement with Genmab via $97.00 per share cash tender offer, pending closing conditions satisfaction.
R&D Spending Rises Sharply Nine-month R&D expenses increased $103.1M to $254.1M, primarily due to Petosemtamab clinical trial support costs.
Cash Position Remains Robust Total cash, cash equivalents, and securities stood at $458.9M as of September 30, 2025, supporting operations.

Risk Factors

Operating Cash Burn Increases Net cash used in operating activities was $(250.6M) for nine months 2025, significantly worse than prior year $(119.2M).
Net Loss Widens Substantially Nine-month net loss reached $(350.2M) USD, compared to $(178.0M) USD in the same period last year.
Transaction Closing Uncertainty Completion of Genmab deal is subject to Minimum Condition (80% tender) and other factors outside management control.
Clinical Development Delays Risk Success depends on lengthy, unpredictable clinical trials; delays or failures could prevent regulatory approval and revenue generation.

Outlook

Cash Runway Extended Past 2028 Current cash, equivalents, and securities expected to fund operations at least into 2028, assuming current operating plan holds.
Advance Key Clinical Programs Focus remains on enrolling Phase 3 trials for Petosemtamab (HNSCC, mCRC) and advancing MCLA-129 development.
Future Financing Needs Possible If Genmab Transactions do not close, additional equity or debt financing will be required to sustain operations.
Protect Intellectual Property Rights Ongoing need to defend and maintain patent portfolio covering Biclonics® and Triclonics® platforms against challenges.

Peer Comparison

Revenue (TTM)

Jazz Pharmaceuticals plcJAZZ
$4.16B
+4.1%
Halozyme Therapeutics, Inc.HALO
$1.24B
+31.2%
Axsome Therapeutics, Inc.AXSM
$561.26M
+65.8%

Gross Margin (Latest Quarter)

Axsome Therapeutics, Inc.AXSM
93.0%
+1.1pp
Rhythm Pharmaceuticals, Inc.RYTM
89.3%
+0.8pp
Halozyme Therapeutics, Inc.HALO
84.4%
+1.4pp

Key Metrics

Symbol
Market Cap
P/E (TTM)
ROE (TTM)
Debt to Assets
JAZZ$10.14B-27.5-9.3%9.5%
RNA$9.39B-20.3-33.5%0.4%
CYTK$7.92B-10.6232.9%72.3%

Long-Term Trends

Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
5.5%
Steady Growth
4Q Net Income CAGR
N/M
Profitability Shift
Cash Flow Stability
0%
Cash Flow Needs Attention

Research & Insights

Reports
All Years

  • Form 10-Q - Q3 2025

    Period End: Sep 30, 2025|Filed: Oct 31, 2025|
    Revenue: $10.37M-1.9%
    |
    EPS: $-1.26-13.7%
    Miss

  • Form 10-Q - Q2 2025

    Period End: Jun 30, 2025|Filed: Aug 5, 2025|
    Revenue: $7.49M+9.5%
    |
    EPS: $-2.23+175.3%
    Miss

  • Form 10-Q - Q1 2025

    Period End: Mar 31, 2025|Filed: May 7, 2025|
    Revenue: $24.48M+234.9%
    |
    EPS: $-1.40+137.3%
    Miss

  • Form 10-K/A - FY 2024

    Period End: Dec 31, 2024|Filed: Apr 7, 2025|
    Revenue: $34.88M-12.4%
    |
    EPS: $-3.35-11.7%
    Miss

  • Form 10-K - FY 2024

    Period End: Dec 31, 2024|Filed: Feb 27, 2025|Refer to amended data

  • Form 10-Q - Q3 2024

    Period End: Sep 30, 2024|Filed: Oct 31, 2024|
    Revenue: $10.57M+1.3%
    |
    EPS: $-1.46+239.5%
    Miss

  • Form 10-Q - Q2 2024

    Period End: Jun 30, 2024|Filed: Aug 1, 2024|
    Revenue: $6.84M-28.7%
    |
    EPS: $-0.81+22.7%
    Miss

  • Form 10-Q - Q1 2024

    Period End: Mar 31, 2024|Filed: May 8, 2024|
    Revenue: $7.31M-41.3%
    |
    EPS: $-0.59-31.4%
    Meet