BioTuesdays

Roth starts Merus at buy; PT $20

Roth Capital Partners launched coverage of Netherlands-based Merus NV (NASDAQ:MRUS) with a “buy” rating and $20 price target. The stock closed at $14.12 on June 27.

Merus has developed a bispecific platform focused on developing innovative antibodies that harness the immune system to treat and potentially cure various types of cancer.

The company has several bispecifics in the clinic including, HER3 x HER2; CLEC12A x CD3, and CD137 x PD-L1, that are all expected to readout during 2019, writes analyst Tony Butler. “This includes bispecific T-cell engaging molecules to enhance a patient’s immune response to tumors by re-targeting T-cells to tumor cells.”

Mr. Butler said Merus leverages its targets discovery platform by developing bispecific antibodies that simultaneously target two drivers of tumor growth on solid tumors.

In addition, the company’s bi-specific T-cell engager, CLEC12A x CD3, is being developed for a liquid tumor, acute myeloid leukemia.

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