Financial Data and Key Metrics Changes - The company reported a strong balance sheet with $892 million, sufficient to run the business at least into 2028, financing through top-line readout of both phase 3 registration trials and beyond [47] Business Line Data and Key Metrics Changes - The company has developed a bispecific antibody, petosemtamab, which has shown promising efficacy in head and neck cancer, achieving a response rate of 63% in combination with pembrolizumab, significantly higher than the standard of care [29][30] - In the second-line setting for head and neck cancer, the response rate was reported at 36%, compared to single-digit to mid-teens response rates typically seen with standard therapies [31] Market Data and Key Metrics Changes - The global market for head and neck cancer is estimated to be around $4 billion, with expectations that a new medicine with greater efficacy and durability could significantly impact this market [40] Company Strategy and Development Direction - The company is focused on leveraging its platform technology for bispecific and multispecific antibodies, aiming to mitigate risks in drug development and improve chances of success [5][6] - The company is exploring opportunities beyond head and neck cancer, particularly in colorectal cancer, with ongoing clinical trials [32][47] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the potential of petosemtamab based on strong clinical data and the FDA's breakthrough therapy designation for both first-line and second-line settings in head and neck cancer [30][32] - The company is actively enrolling patients in three cohorts for colorectal cancer, with a clinical update expected in the second half of the year [23][24] Other Important Information - The company has received breakthrough therapy designation from the FDA for petosemtamab in both first-line and second-line settings for head and neck cancer, indicating the drug's potential significance [30] - The company is utilizing a Project FrontRunner framework for its phase 3 trials, allowing for potential accelerated approval based on early efficacy endpoints [24][38] Q&A Session Summary Question: What should be the expectations or what do you want to see from these three different cohorts to kind of move this forward? - Management indicated that they are looking for response rates comparable to those seen with cetuximab in colorectal cancer, which are around 65% in the first-line setting and 30% in the second-line setting [20] Question: Do you have a sense for enrollment timelines and whether or not some of these data, in certain cohorts, could become more mature before the others? - Management guided that they expect substantial enrollment in both trials by the end of the year, with top-line interim readout of one or both trials next year [44] Question: How big do you see the opportunity in head and neck? - Management believes the current market for head and neck cancer is around $4 billion globally, with potential for significant impact from a new medicine with greater efficacy [40] Question: Can you talk about your cash position and the catalyst that you think that funds the business through? - Management confirmed a strong cash position of $892 million, which is sufficient to support operations through 2028 and fund ongoing clinical trials [47]

Financial Data and Key Metrics Changes - The company has a strong balance sheet with $892 million, sufficient to run the business at least into 2028, financing through top-line readout of both phase 3 registration trials and beyond [48] Business Line Data and Key Metrics Changes - The company has generated robust clinical data in head and neck cancer with petosemtamab, showing a 63% response rate in combination with pembrolizumab, significantly higher than the standard of care [29][30] - In the second-line setting for recurrent metastatic head and neck cancer, the response rate was reported at 36%, compared to single-digit to mid-teens response rates typically seen with standard therapies [31] Market Data and Key Metrics Changes - The global market for head and neck cancer is estimated to be around $4 billion, with potential for significant impact from new medicines demonstrating greater efficacy and durability [41] Company Strategy and Development Direction - The company is focused on developing bispecific antibodies, leveraging established manufacturing capabilities and aiming to mitigate risks in drug development [4][5] - The company is exploring opportunities beyond head and neck cancer, particularly in colorectal cancer, which is seen as a significant area for potential growth [48] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the potential of petosemtamab based on strong efficacy and safety data, with plans for accelerated approval under the Project FrontRunner framework [24][25] - The company is actively enrolling patients in three cohorts for colorectal cancer, with a clinical update expected in the second half of the year [22][23] Other Important Information - Petosemtamab has received breakthrough therapy designation from the FDA in both first-line and second-line settings for head and neck cancer [30] - The company has reported that infusion-related reactions are manageable, occurring primarily during the first dose [15][32] Q&A Session Summary Question: What are the expectations for the colorectal cancer cohorts? - The company is studying genetically wild-type metastatic colorectal cancer, aiming for response rates comparable to cetuximab, which shows around 65% in first-line settings [20][21] Question: How does the company view the market opportunity in head and neck cancer? - The company believes the current market is around $4 billion and sees potential for a new medicine to significantly impact this market due to improved efficacy and durability [41][42] Question: What is the cash position and funding outlook? - The company has $892 million, which is expected to support operations through 2028, allowing focus on executing phase 3 trials and exploring additional opportunities [48]

Core Viewpoint - Merus N.V. is participating in the 2025 Wells Fargo Healthcare Conference, highlighting its focus on innovative oncology therapies [1]. Company Overview - Merus N.V. specializes in developing full-length human bispecific and trispecific antibody therapeutics, known as Multiclonics® [3]. - The company’s products, including Biclonics®, Triclonics®, and ADClonics®, are designed to have characteristics similar to conventional human monoclonal antibodies, such as long half-life and low immunogenicity [3]. Event Details - Bill Lundberg, M.D., President and CEO of Merus, will engage in a fireside chat at the conference on September 4, 2025, at 3:45 p.m. ET [1]. - The presentation will be available via webcast on the company's Investors page, with an archived version accessible for a limited time post-event [2].