The Merus (NASDAQ: MRUS) stock price jumped over 30% in the early hours of the Thursday market open, after a conference call regarding positive data in multiple clinical trials.
Merus had positive data to report at today’s AACR-NCI-EORTC Virtual International Conference on Molecular Targets and Cancer Therapeutics – soon spurring the price rally that is still continuing at the time of writing – currently just over 34%.
The clinical-stage oncology company received positive results in the testing of both MCLA-158 – used for head and neck squamous cell carcinoma – and Zeno, used for reducing tumor growth in NRG1+ cancers; in Merus’ latest string of innovative, multispecific antibodies.
In MCLA-158 clinical data, tumor shrinkage was witnessed in patients with HNSCC. In preclinical trials, Zeno has been found to block cell growth ‘100 fold more potently’ than the previous anti-HER3 antibody.
Dr. Andrew Joe, Chief Medical Officer at Merus, confidently announced:
“We are encouraged by the early evidence of clinical activity of MCLA-158 in patients with advanced, previously treated HNSCC, further validating the potential of our Biclonics platform. With Zeno, our preclinical research continues to reinforce the mechanisms by which Zeno is capable of potently inhibiting the growth of NRG1 fusion cancers.”
The market reacted incredibly positively to the conference results, with the Merus stock price holding strongly onto gains of over 30%. Merus is currently trading at $27.4, on the path to approaching annual highs of $29.
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