Shares of Merus N.V. (MRUS) slipped over 7% on Wednesday morning after the oncology company priced an offering of 5 million shares at $57 a share.
MRUS is currently trading at $57.57, down $4.85 or 7.77%, on the Nasdaq. The stock opened its trading at $58.12 after closing Tuesday at $62.42. The stock has traded between $33.19 and $62.98 in the past 52-week period.
The company announced the pricing of an underwritten public offering of 5.26 million shares at a public offering price of $57.00 per share. The offering is expected to close on or about June 5, 2025.
The gross proceeds from the offering are expected to be about $300.0 million. All of the shares in the offering are to be sold by Merus.
Merus currently intends to use the proceeds from the offering, together with its existing cash, cash equivalents and marketable securities, to advance the clinical development of its product candidates, for preclinical research and technology development, and for working capital and general corporate purposes.
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