Merus reports 2023 EPS ($3.00), consensus ($2.68)

Reports 2023 revenue $43.95M consensus $47.13M. The company said, “2024 is poised to be a transformational year for Merus. For petosemtamab, we plan to start a phase 3 registration trial in 2L+ HNSCC in mid-2024. In the first-line setting, we plan to provide initial data on the combination with pembrolizumab in the second quarter and are preparing for a potential first-line phase 3 trial. This year, we also plan to evaluate petosemtamab in 2L colorectal cancer. Additionally, for Zeno we are preparing our first potential BLA submissions in NRG1+ lung and NRG1+ pancreatic cancer. We are also excited by continued enhancements to our productive Multiclonics platforms, which serve as our engine to develop innovative antibodies both for our own pipeline and for our collaborators.” Merus said that based on the Company’s current operating plan, existing cash, cash equivalents and marketable securities expected to fund its operations into 2027.