MRUS - Merus rises 4% on Incyte stake disclosure

Merus (MRUS) gains 4% premarket after Incyte (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

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Merus rises 4% on Incyte stake disclosure