Benzinga Quick Stats: Merus IPO
Merus BV (NYSE: MRUS) is an immuno-oncology company that develops antibody therapeutics.
Initial range for 4.33 million shares at $14-$16/share
Morning of the IPO cut the price to $10
Shares opened for trade at $9.75
Spiked to $10.73, but fell to $10.04 by market close
On Friday, shares were up about 1 percent at $10.16 about three hours into trading.
Biotech IPOs have struggled lately.
NovoCure Limited (NASDAQ: NVCR) debuted last fall at $22/share and fell 17 percent the day after. On Thursday, NovoCure closed at $11.60.
MyoKardia, Inc. (NASDAQ: MYOK) initially priced their shares at $15-$17, revised that to $10 the day before the offering happened, and now sits at $12.11 as of Thursday.
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