Merus (MRUS) Canaccord Genuity 44th Annual Growth Conference & Private Company Showcase 2024 summary

Pipeline progress and clinical updates

• Four clinical-stage assets and multiple partnered programs are advancing, with petosemtamab leading in head and neck and colorectal cancer trials.

• Petosemtamab is in Phase 3 registration trials for head and neck cancer, with dosing started in the first and planned for the second by year-end.

• Zenocutuzumab is under FDA priority review for NRG1 fusion cancers, with breakthrough and orphan designations.

• MCLA-129 shows strong activity in lung cancer and is being considered for partnership to maximize development.

• Strategic collaborations, such as with Gilead, provide milestone payments, equity investment, and validation for the technology platform.

Clinical data highlights

• Petosemtamab monotherapy achieved a 37% response rate in head and neck cancer, outperforming standard therapies.

• Combination with pembrolizumab in the frontline setting showed a 67% response rate, with robust activity across patient subgroups.

• Median duration of response for petosemtamab was 6 months, and progression-free survival was 5.3 months, both superior to current standards.

• Zenocutuzumab demonstrated a 37% response rate in NRG1 fusion lung cancer and 42% in pancreatic cancer, with long median durations of response.

• MCLA-129 led to tumor shrinkage in 53% of patients with MET exon 14 mutant lung cancer and showed activity in both frontline and second-line settings.

Platform and strategy

• The Multiclonics platform enables high-throughput screening and development of bispecific and trispecific antibodies, modeled after monoclonal antibody processes.

• Common light chain technology simplifies manufacturing and enhances the ability to select optimal candidates.

• The platform's compatibility with ADC technologies broadens future development opportunities.

• Strategic focus remains on lead asset petosemtamab, with openness to partnerships for other assets.

• Strong cash position of $846 million supports operations and clinical milestones into 2028.