Thu, Oct 31, 12:02 PM (63 days ago)
**Merus N.V. (MRUS) 10-Q Summary for Q3 2024** For the quarter ended September 30, 2024, Merus N.V. reported revenues of $11.8 million, a slight increase from $11.0 million in Q3 2023, primarily driven by collaboration revenue from Eli Lilly and milestone payments from Ono. However, total revenues for the nine months decreased to $27.0 million from $35.0 million, attributed to declines in collaboration revenue from Incyte and Lilly. Operating expenses surged to $84.0 million in Q3 2024 from $49.4 million in Q3 2023, largely due to increased R&D costs related to clinical trials and general administrative expenses. The company recorded a net loss of $99.9 million for Q3 2024, significantly higher than the $23.0 million loss in Q3 2023. As of September 30, 2024, Merus held $433.8 million in cash and cash equivalents, bolstered by financing activities that raised $485.9 million in the first nine months. The company anticipates this capital will fund operations through 2028, although it continues to face uncertainties related to clinical trial outcomes, regulatory approvals, and market acceptance of its antibody candidates.