Merus N.V. announced its financial results for the second quarter ended June 30, 2025, reporting $892 million in cash, cash equivalents, and marketable securities. This strengthened financial position includes $345 million in gross proceeds from a successful public offering, extending the company's cash runway at least into 2028.
Total revenue for Q2 2025 increased by $1.5 million compared to Q2 2024, driven by increases in Incyte, PTx, and Gilead revenue. Research and development expenses surged by $44.8 million, primarily due to a $37.9 million increase in clinical trial support for the petosemtamab program.
The company highlighted the unprecedented efficacy of petosemtamab with pembrolizumab in first-line head and neck cancer, as presented at the 2025 ASCO® Annual Meeting, showing a 63% response rate among 43 evaluable patients and a 79% overall survival rate at 12 months. Both Phase 3 trials for petosemtamab are expected to be substantially enrolled by year-end 2025, with potential top-line interim readouts in 2026.
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