Drugmaker Merus slips after share offering launch

U.S.-listed shares of Merus NV MRUS.O down 6.3% to $58.50 post-market as co seeks equity raise

Dutch biotech firm launches stock offering; targeted raise not disclosed

Co plans to use net offering proceeds to advance clinical development of its product candidates, for preclinical research and technology development, and for working capital among other purposes

Jefferies, BofA, Leerink, Guggenheim, Truist and LifeSci Capital are jt bookrunners

On May 23, MRUS shares surged ~33% to close at $55.14 after co's lead candidate petosemtamab in combination with Merck's MRK.N Keytruda delayed progression of a type of head and neck cancer in a mid-stage trial

MRUS shares on Tues finished up 6.6% at $62.42, up 50% over the past seven sessions

Co has ~69.2 mln shares outstanding for $4.3 bln market cap