On Tuesday, BMO Capital Markets maintained its Outperform rating and $58.00 share price target for Merus N.V. (NASDAQ:MRUS), a clinical-stage oncology company.
The firm's stance followed Merus's announcement of updated results from an ongoing clinical trial. In the trial, a combination of petosemtamab and pembrolizumab was administered to patients with first-line Head and Neck Squamous Cell Carcinoma (HNSCC).
The reported objective response rate (ORR) was 67% among 24 patients, which included a 75% ORR in patients positive for Human Papillomavirus (HPV).
The data also indicated a 65% ORR in patients who were either HPV-negative or whose HPV status was unknown, demonstrating petosemtamab's effectiveness independent of HPV status.
This finding aligns with the previously suggested potential for the treatment. BMO Capital has highlighted the results as confirmation of their optimistic scenario for Merus.
Merus management has indicated plans to commence a Phase 3 trial for HNSCC patients, without selection based on HPV status, by the end of the year. This development is a significant step for the company as it progresses towards potential commercialization of the treatment.
The company's stock continues to be a Top Pick for BMO Capital, signaling strong confidence in its future performance and the success of its ongoing clinical programs.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.