Biotech stock traders must be having a great day with Merus as the stock gains momentum on Thursday. What is more important is that the stock has experienced a trending day with a gap up opening and since then rising further.
So early buyers even after a gap-up opening are rewarded well. Well, this morning Merus presented findings from a clinical study including MCLA-158 in patients with head and neck squamous cell carcinoma today (HNSCC). The business also showed some pre-clinical results from zenocutuzumab, its flagship asset, but all eyes were on MCLA-158.
None of the targeted tumors became larger in the first seven patients treated with MCLA-158 who had had at least eight weeks of follow-up monitoring.
Three of the individuals even had a partial reaction. MCLA-158 is a bispecific antibody that binds to cancer cells that overexpress the leucine-rich repeat-containing G protein-coupled receptor 5 (Lgr5) and the epidermal growth factor receptor. In principle, this should stop tumor development while also recruiting immune cells to fight the malignancies. So far, it appears that MCLA-158’s novel method is functioning as planned. However, when it comes to the discovery of novel cancer drugs, first impressions can be deceptive. Impressive response rates that emerge after the initial handful of patients nearly typically deteriorate with time.