Private company

Merus (Netherlands)

Logo: merus.nl³

Dutch pharmaceutical preparations company based in Utrecht, founded in 2003.¹

Last updated Oct 18, 2026.

Overview

2003Founded¹

IndustryPharmaceutical Preparations¹
HeadquartersUtrecht¹
Websitemerus.nl
Incorporated inNetherlands⁴
Business addressYalelaan 62, 3584 Cm Utrecht, De⁴
Filer categoryLarge accelerated filer⁴

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Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2024

-753.0%Operating margin⁵

-595.9%Net margin⁵

-17.8%Revenue growth, 2024⁵

-33.2%Return on equity⁵

-$187.5MFree cash flow⁵

Where the money goes

Where each dollar of revenue went, fiscal 2024

Research and development

Research and development97¢$225.4M
Income tax3¢$8.2M

Out of $36.1M in revenue.⁵ The company lost money this year.

Financial statements

Revenue⁶⁷⁸⁹⁵$36.1M in 2024−6% since 2018

Operating income⁶⁷⁸⁹⁵-$272.1M in 2024+495% since 2018

Net income⁶⁷⁸⁹⁵-$215.3M in 2024+661% since 2018

Fiscal year	2018	2019	2020	2021	2022	2023	2024
Revenue	$38.4M⁶	$31.1M⁷	$29.9M⁸	$49.1M⁹	$41.6M⁵	$43.9M⁵	$36.1M⁵
Research and development	$54.8M⁶	$55.7M⁷	$70.0M⁸	$98.2M⁹	$149.4M⁵	$140.7M⁵	$225.4M⁵
Operating income	-$45.7M⁶	-$58.7M⁷	-$75.9M⁸	-$90.0M⁹	-$160.0M⁵	-$156.5M⁵	-$272.1M⁵
Income tax	$205.0K⁶	$194.0K⁷	$503.0K⁸	$239.0K⁹	$959.0K⁵	$3.2M⁵	$8.2M⁵
Net income	-$28.3M⁶	-$55.2M⁷	-$85.5M⁸	-$66.8M⁹	-$131.2M⁵	-$154.9M⁵	-$215.3M⁵
Earnings per share			-$2.92⁸	-$1.73⁹	-$2.92⁵	-$3.00⁵	-$3.35⁵
Earnings per share (diluted)			-$2.92⁸	-$1.73⁹	-$2.92⁵	-$3.00⁵	-$3.35⁵

Total assets⁶¹²⁷⁸⁹⁵$782.7M in 2024+209% since 2018

Total liabilities⁶¹²⁷⁸⁹⁵$134.8M in 2024−8% since 2018

Shareholders’ equity⁷⁸⁹⁵$647.9M in 2024+512% since 2018

Cash⁶⁷⁸⁹⁵$293.3M in 2024+78% since 2018

Fiscal year	2018	2019	2020	2021	2022	2023	2024
Cash	$164.6M⁶	$197.6M⁷	$163.1M⁸	$241.4M⁹	$147.7M⁵	$204.2M⁵	$293.3M⁵
Current assets	$243.4M⁶	$247.4M¹²	$218.0M⁷	$424.2M⁸	$306.4M⁹	$368.8M⁵	$569.1M⁵
Total assets	$253.0M⁶	$263.4M¹²	$231.2M⁷	$456.6M⁸	$376.5M⁹	$455.5M⁵	$782.7M⁵
Current liabilities	$34.0M⁶	$36.8M¹²	$46.7M⁷	$71.9M⁸	$78.9M⁹	$69.1M⁵	$87.1M⁵
Total liabilities	$147.1M⁶	$132.1M¹²	$129.0M⁷	$140.4M⁸	$129.5M⁹	$99.2M⁵	$134.8M⁵
Shareholders’ equity	$105.9M⁷	$131.3M⁸	$102.3M⁹	$316.2M⁵	$247.1M⁵	$356.3M⁵	$647.9M⁵
Shares outstanding	23.4M shares¹³	28.9M shares¹²	31.6M shares⁷	43.5M shares⁸	46.3M shares⁹	57.8M shares⁵	68.8M shares⁵

Cash from operations⁶⁷⁸⁹⁵-$185.8M in 2024+303% since 2018

Capital spending⁶⁷⁸⁹⁵$1.7M in 2024−9% since 2018

Free cash flow⁶⁷⁸⁹⁵-$187.5M in 2024+291% since 2018

Fiscal year	2018	2019	2020	2021	2022	2023	2024
Cash from operations	-$46.1M⁶	-$63.0M⁷	-$79.9M⁸	-$59.6M⁹	-$149.9M⁵	-$142.2M⁵	-$185.8M⁵
Capital spending	$1.8M⁶	$2.2M⁷	$1.3M⁸	$870.0K⁹	$7.6M⁵	$4.0M⁵	$1.7M⁵
Free cash flow	-$47.9M	-$65.3M	-$81.2M	-$60.5M	-$157.5M	-$146.2M	-$187.5M

Compare Merus (Netherlands) with another company

Leadership

Who has led Merus (Netherlands), and when. Pick a name to see everywhere that person has worked.

20052010201520202025

Chief executive officerSven Ante Lundberg Jan 2, 2020 to now¹⁴
PresidentSven Ante Lundberg Jan 2, 2020 to now¹⁴
Chief financial officerGregory D. Perry Jun 15, 2023 to now¹⁵
Chief operating officerPeter B. Silverman Jan 6, 2023 to now¹⁶

Board members and other officers (22)

Chief Medical OfficerFabian Zohren Jul 3, 2024 to now¹⁷
EVP, GC and Head of UtrechtPeter B. Silverman Feb 18, 2021 to Mar 11, 2022¹⁸
SVP & Chief Scientific OfficerCecile A. W. Geuijen May 6, 2021 to Feb 2, 2022¹⁹
EVP & Chief Medical OfficerAndres Sirulnik Jan 2, 2020 to Feb 19, 2020²⁰
VP Controller, PAOHarry Shuman Jan 2, 2020 to now²¹
SVP & Chief Technology OfficerKruif John De Jan 2, 2020 to Feb 2, 2022²²
SVP, Chief Development OfficerLex Bakker Jan 2, 2020 to Feb 2, 2022²³
EVP & Chief Scientific OfficerMark Throsby Jan 2, 2020 to Jul 9, 2020²⁴
SVP, CMOAndrew Joe Aug 5, 2020 to May 9, 2024²⁵
Board memberJason Haddock May 9, 2024 to now²⁶
Board memberPeter Lowe Jan 2022 to now¹
Board memberMaxine Gowen Jun 2, 2021 to now²⁷
Board memberAnand Mehra Jan 2, 2020 to now²⁸
Board memberGregory D. Perry Jan 2, 2020 to Jun 12, 2023²⁹
Board memberKoning John De Jan 2, 2020 to Jan 2, 2020³⁰
Board memberLen Kanavy Jan 2, 2020 to now³¹
Board memberMark T. Iwicki Jan 2, 2020 to now³²
Board memberRussell Greig Jan 2, 2020 to Jan 2, 2020³³
Board memberSven Ante Lundberg Jan 2, 2020 to now¹⁴
Board memberVictor Sandor Jan 2, 2020 to now³⁴
Board memberPaolo Pucci Jul 2, 2020 to now³⁵
General counselPeter B. Silverman Jan 2, 2020 to Apr 20, 2020³⁶

Former names

Merus B.V.Sep 8, 2015 to May 23, 2016⁴

Timeline

Jan 2, 2020New chief executive Sven Ante Lundberg becomes CEO¹⁴
2003Founded Founded¹

Filings

237 filings to the SEC since October 2021: 5 annual reports, 13 quarterly reports, 26 major events, 111 insider forms, 31 large holders, 51 other. The latest 20:

Feb 17, 2026SCHEDULE 13G/A EDGAR
Jan 9, 202615-12G EDGAR
Dec 30, 20254 EDGAR
Dec 30, 20258-K EDGAR
Dec 30, 2025SC 14D9/A EDGAR
Dec 29, 20254 EDGAR
Dec 22, 20254 EDGAR
Dec 18, 20254 EDGAR
Dec 18, 20253 EDGAR
Dec 12, 20254 EDGAR
Dec 12, 20254 EDGAR
Dec 12, 20254 EDGAR
Dec 12, 20254 EDGAR
Dec 12, 20254 EDGAR
Dec 12, 20254 EDGAR
Dec 12, 20254 EDGAR
Dec 12, 20254 EDGAR
Dec 12, 20254 EDGAR
Dec 12, 20254 EDGAR
Dec 12, 20254 EDGAR

The 237 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last three years, summarized. The full record is on SEC EDGAR.

Insider trades and holders

Large holders

Investors who own more than 5% must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively. 31 such filings since October 2021, the latest 10:

From Forms 4 and Schedules 13D and 13G filed with the SEC.

Sources

The numbers on this page point here. Each one links to the record it came from.

1
WikidataMerus (Netherlands) on Wikidata
2
SEC EDGARMerus (Netherlands) filings on SEC EDGAR
3
Company websiteMerus (Netherlands) logo
4
SEC EDGARMerus (Netherlands) filings on SEC EDGAR
5
SEC EDGARMerus (Netherlands) 10-K for fiscal 2024
6
SEC EDGARMerus (Netherlands) 10-K for fiscal 2018
7
SEC EDGARMerus (Netherlands) 10-K for fiscal 2019
8
SEC EDGARMerus (Netherlands) 10-K for fiscal 2020
9
SEC EDGARMerus (Netherlands) 10-K for fiscal 2021
10
SEC EDGARMerus (Netherlands) 10-Q for fiscal 2025
11
SEC EDGARMerus (Netherlands) 10-Q for fiscal 2025
12
SEC EDGARMerus (Netherlands) 10-K for fiscal 2019
13
SEC EDGARMerus (Netherlands) 10-K for fiscal 2018
14
SEC EDGARSven Ante Lundberg, Chief executive officer
15
SEC EDGARGregory D. Perry, Chief financial officer
16
SEC EDGARPeter B. Silverman, Chief operating officer
17
SEC EDGARFabian Zohren, Chief Medical Officer
18
SEC EDGARPeter B. Silverman, EVP, GC and Head of Utrecht
19
SEC EDGARCecile A. W. Geuijen, SVP & Chief Scientific Officer
20
SEC EDGARAndres Sirulnik, EVP & Chief Medical Officer
21
SEC EDGARHarry Shuman, VP Controller, PAO
22
SEC EDGARKruif John De, SVP & Chief Technology Officer
23
SEC EDGARLex Bakker, SVP, Chief Development Officer
24
SEC EDGARMark Throsby, EVP & Chief Scientific Officer
25
SEC EDGARAndrew Joe, SVP, CMO
26
SEC EDGARJason Haddock, Board member
27
SEC EDGARMaxine Gowen, Board member
28
SEC EDGARAnand Mehra, Board member
29
SEC EDGARGregory D. Perry, Board member
30
SEC EDGARKoning John De, Board member
31
SEC EDGARLen Kanavy, Board member
32
SEC EDGARMark T. Iwicki, Board member
33
SEC EDGARRussell Greig, Board member
34
SEC EDGARVictor Sandor, Board member
35
SEC EDGARPaolo Pucci, Board member
36
SEC EDGARPeter B. Silverman, General counsel