Merus rises on Incyte stake disclosure

 

• Merus (NASDAQ:MRUS) gains 4% premarket after Incyte (NASDAQ:INCY) reports 11% stake or holding of 3.2M shares of the company. The company had 29.09M common shares as of Oct. 30, 2020.
• Pursuant to the Subscription Agreement, on January 23, 2017, Incyte purchased an aggregate of 3.2M common shares at a purchase price of $25/share for an aggregate of $80M. Incyte purchased such Common Shares with available working capital.
• On December 20, 2016, Incyte and the Merus entered into a collaboration and license agreement for up to 11 bispecific or monospecific antibodies utilizing the Merus proprietary Biclonics technology platform for an upfront non-refundable payment of $120M to the Merus.
• SC 13D
• https://seekingalpha.com/news/3647634-merus-rises-4-on-incyte-stake-disclosure