$MRUS
Merus N.V.

2023 Q1 Form 10-K Financial Statement

#000095017023005070 Filed on February 28, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q4 2022
Revenue $13.50M $10.67M $41.59M
YoY Change 15.82% -27.49% -15.32%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $15.39M $15.28M $52.20M
YoY Change 30.91% 41.21% 27.64%
% of Gross Profit
Research & Development $34.87M $49.05M $149.4M
YoY Change 29.25% 83.34% 52.18%
% of Gross Profit
Depreciation & Amortization $534.0K $312.0K $981.0K
YoY Change 52.14% -2.5% -21.2%
% of Gross Profit
Operating Expenses $50.25M $64.33M $201.6M
YoY Change 29.75% 71.21% 44.97%
Operating Profit -$36.75M -$160.0M
YoY Change 35.75% 77.87%
Interest Expense -$3.446M -$27.92M $28.74M
YoY Change -143.98% -401.6% 17.16%
% of Operating Profit
Other Income/Expense, Net -$3.446M $0.00 $29.80M
YoY Change -141.55% -100.0% -2725.81%
Pretax Income -$40.20M -$81.59M -$130.2M
YoY Change 114.06% 471.24% 95.62%
Income Tax -$457.0K $387.0K $959.0K
% Of Pretax Income
Net Earnings -$39.74M -$81.97M -$131.2M
YoY Change 110.35% 468.42% 96.35%
Net Earnings / Revenue -294.4% -768.54% -315.48%
Basic Earnings Per Share -$0.86 -$2.92
Diluted Earnings Per Share -$0.86 -$1.77 -$2.92
COMMON SHARES
Basic Shares Outstanding 46.32M 46.30M 44.92B
Diluted Shares Outstanding 46.32B 44.92B

Balance Sheet

Concept 2023 Q1 2022 Q4 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $241.2M $290.2M $290.2M
YoY Change -32.77% -29.29% -29.29%
Cash & Equivalents $102.6M $147.7M $147.7M
Short-Term Investments $138.6M $142.5M $142.5M
Other Short-Term Assets $2.413M $2.204M $11.52M
YoY Change -0.86% 1.33% 62.63%
Inventory
Prepaid Expenses
Receivables $4.769M $4.051M $4.051M
Other Receivables $841.0K $647.0K $647.0K
Total Short-Term Assets $258.2M $306.4M $306.4M
YoY Change -32.01% -27.76% -27.76%
LONG-TERM ASSETS
Property, Plant & Equipment $13.39M $12.22M $24.84M
YoY Change 95.67% 244.38% 241.12%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $46.10M $36.46M $36.46M
YoY Change 81.04% 79.62% 79.62%
Other Assets $4.239M $4.811M $6.852M
YoY Change 31.44% 131.52% 174.63%
Total Long-Term Assets $80.36M $70.10M $70.10M
YoY Change 112.77% 116.21% 116.21%
TOTAL ASSETS
Total Short-Term Assets $258.2M $306.4M $306.4M
Total Long-Term Assets $80.36M $70.10M $70.10M
Total Assets $338.5M $376.5M $376.5M
YoY Change -18.92% -17.53% -17.53%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.987M $9.834M $9.834M
YoY Change -7.44% -25.71% -25.71%
Accrued Expenses $41.13M $35.59M $37.27M
YoY Change 83.3% 58.14% 55.31%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $75.09M $78.93M $78.93M
YoY Change 22.05% 9.77% 9.77%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $45.91M $50.56M $50.56M
YoY Change -21.53% -26.19% -26.19%
Total Long-Term Liabilities $45.91M $50.56M $50.56M
YoY Change -21.53% -26.19% -26.19%
TOTAL LIABILITIES
Total Short-Term Liabilities $75.09M $78.93M $78.93M
Total Long-Term Liabilities $45.91M $50.56M $50.56M
Total Liabilities $121.0M $129.5M $129.5M
YoY Change 0.81% -7.77% -7.77%
SHAREHOLDERS EQUITY
Retained Earnings -$637.9M -$598.1M
YoY Change 31.31% 28.09%
Common Stock $881.6M $875.6M
YoY Change 10.4% 10.51%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $217.5M $247.1M $247.1M
YoY Change
Total Liabilities & Shareholders Equity $338.5M $376.5M $376.5M
YoY Change -18.92% -17.53% -17.53%

Cashflow Statement

Concept 2023 Q1 2022 Q4 2022
OPERATING ACTIVITIES
Net Income -$39.74M -$81.97M -$131.2M
YoY Change 110.35% 468.42% 96.35%
Depreciation, Depletion And Amortization $534.0K $312.0K $981.0K
YoY Change 52.14% -2.5% -21.2%
Cash From Operating Activities -$36.74M -$30.51M -$149.9M
YoY Change -20.81% -3.44% 151.39%
INVESTING ACTIVITIES
Capital Expenditures $3.620M $2.108M $7.587M
YoY Change 958.48% -733.03% 772.07%
Acquisitions
YoY Change
Other Investing Activities -$4.787M $2.964M $10.44M
YoY Change 665.92% -119.21% -107.16%
Cash From Investing Activities -$8.407M $856.0K $2.802M
YoY Change 769.39% -105.43% -101.91%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 217.0K -215.0K 58.74M
YoY Change -75.31% -100.17% -79.17%
NET CHANGE
Cash From Operating Activities -36.74M -30.51M -149.9M
Cash From Investing Activities -8.407M 856.0K 2.802M
Cash From Financing Activities 217.0K -215.0K 58.74M
Net Change In Cash -45.10M -29.87M -93.31M
YoY Change -4.77% -137.49% -218.92%
FREE CASH FLOW
Cash From Operating Activities -$36.74M -$30.51M -$149.9M
Capital Expenditures $3.620M $2.108M $7.587M
Free Cash Flow -$40.36M -$32.62M -$157.5M
YoY Change -13.64% 4.33% 160.32%

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CY2021 us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
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CY2020 us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
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CY2022 us-gaap Increase Decrease In Contract With Customer Liability
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CY2021 us-gaap Increase Decrease In Contract With Customer Liability
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CY2021 us-gaap Payments To Acquire Intangible Assets
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CY2021 us-gaap Net Cash Provided By Used In Investing Activities
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CY2021 mrus Payment Of Offering Costs
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CY2020 mrus Payment Of Offering Costs
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CY2022 mrus Proceeds From Issuance Of Common Stock On Open Market
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CY2021 mrus Proceeds From Issuance Of Common Stock On Open Market
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CY2021 us-gaap Payments For Repurchase Of Equity
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CY2020 us-gaap Payments For Repurchase Of Equity
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CY2021 mrus Short Swing Profit Disgorgement
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CY2022 mrus Short Swing Profit Disgorgement
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CY2020 mrus Short Swing Profit Disgorgement
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CY2022 us-gaap Net Cash Provided By Used In Financing Activities
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CY2021 us-gaap Net Cash Provided By Used In Financing Activities
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CY2021 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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CY2021 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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CY2020 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2021 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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CY2020 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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CY2020 us-gaap Income Taxes Paid Net
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CY2022 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
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CY2021 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
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CY2020 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
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CY2022 mrus Non Cash Issuance Of Stock Options
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CY2021 mrus Non Cash Issuance Of Stock Options
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CY2020 mrus Non Cash Issuance Of Stock Options
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CY2022 mrus Finance Cost Incurred But Not Yet Paid
FinanceCostIncurredButNotYetPaid
0
CY2021 mrus Finance Cost Incurred But Not Yet Paid
FinanceCostIncurredButNotYetPaid
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CY2020 mrus Finance Cost Incurred But Not Yet Paid
FinanceCostIncurredButNotYetPaid
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CY2022 us-gaap Proceeds From Income Tax Refunds
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CY2021 us-gaap Proceeds From Income Tax Refunds
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CY2020 us-gaap Proceeds From Income Tax Refunds
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24000
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
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CY2021Q4 us-gaap Cash And Cash Equivalents At Carrying Value
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CY2020Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
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CY2022Q4 mrus Restricted Cash And Other Assets
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CY2021Q4 mrus Restricted Cash And Other Assets
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CY2020Q4 mrus Restricted Cash And Other Assets
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CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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148439000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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241749000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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163283000
CY2019Q4 us-gaap Stockholders Equity
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CY2020 us-gaap Stock Issued During Period Value New Issues
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CY2020 mrus Stock Issued During Period Value Stock Options Exercised And Restricted Stock Units Vested
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1448000
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9372000
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CY2020 us-gaap Net Income Loss
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CY2020Q4 us-gaap Stockholders Equity
StockholdersEquity
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CY2021 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
248058000
CY2021 mrus Stock Issued During Period Value Stock Options Exercised And Restricted Stock Units Vested
StockIssuedDuringPeriodValueStockOptionsExercisedAndRestrictedStockUnitsVested
17423000
CY2021 us-gaap Stock Repurchased During Period Value
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285000
CY2021 mrus Short Swing Profit Disgorgement
ShortSwingProfitDisgorgement
282000
CY2021 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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17091000
CY2021 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
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CY2021 us-gaap Net Income Loss
NetIncomeLoss
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CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
316201000
CY2022 mrus Stock Issued During Period Value Stock Options Exercised And Restricted Stock Units Vested
StockIssuedDuringPeriodValueStockOptionsExercisedAndRestrictedStockUnitsVested
1213000
CY2022 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
24535000
CY2022 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
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CY2022 us-gaap Net Income Loss
NetIncomeLoss
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CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
247055000
CY2022 us-gaap Nature Of Operations
NatureOfOperations
<p style="text-indent:0.0%;font-size:10.0pt;margin-top:12.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">1. The Company</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> </span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:6.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">Merus N.V. is a clinical-stage oncology company developing innovative antibody therapeutics, headquartered in Utrecht, the Netherlands. Merus US, Inc. is a wholly-owned subsidiary of Merus N.V. located at 139 Main Street, Cambridge, Massachusetts, United States (collectively, the “Company”).</span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:6.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">Since inception, the Company has generated an accumulated deficit of </span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">$</span><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">598.1</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> million</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> as of December 31, 2022. The Company expects to continue to incur significant expenses and operating losses for the foreseeable future as its antibody candidates advance through discovery, pre-clinical development and clinical trials and as it seeks regulatory approval and pursues commercialization of any approved antibody candidate.</span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:6.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">As a result, the Company may need additional financing to support its continuing operations. Until the Company can generate significant revenue from product sales, if ever, the Company expects to finance its operations through public equity offerings, debt financings, or other sources, which may include collaborations, business development and licensing opportunities with third parties. Adequate additional financing may not be available to the Company on acceptable terms, or at all. The Company’s inability to raise capital as and when needed would have a negative impact on its financial condition and ability to pursue its business strategy. The Company will need to generate significant revenues to achieve profitability and may never do so.</span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:6.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">Based on the Company’s current operating plan, the Company expects that its existing cash, cash equivalents and marketable securities of </span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">$</span><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">326.7</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> million</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> as of December 31, 2022</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">, will fund the Company’s operations into the second half of 2025.</span></p>
CY2022Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
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CY2022Q4 us-gaap Cash Cash Equivalents And Short Term Investments
CashCashEquivalentsAndShortTermInvestments
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CY2022 us-gaap Use Of Estimates
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<p style="text-indent:0.0%;font-size:10.0pt;margin-top:12.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;font-style:italic;min-width:fit-content;">Use of Estimates</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;font-style:italic;min-width:fit-content;"> </span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:6.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">The preparation of these consolidated financial statements in accordance with U.S. GAAP requires management to make estimates, judgments and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities, as of the date of the consolidated financial statements, and the reported amounts of collaboration revenue and expenses during the reporting period. Actual results and outcomes may differ materially from management’s estimates, judgments and assumptions.</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> </span></p>
CY2022 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="text-indent:0.0%;font-size:10.0pt;margin-top:12.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;font-style:italic;min-width:fit-content;">Concentration of Credit Risk</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;font-style:italic;min-width:fit-content;"> </span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:6.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">Financial instruments that potentially subject the Company to concentrations of credit risk include cash, cash equivalents, marketable securities and accounts receivable. The Company attempts to minimize the risks related to cash, cash equivalents and marketable securities by working with highly rated financial institutions that invest in a broad and diverse range of financial instruments as</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> </span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:6.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">defined by the Company. The Company has established guidelines relative to credit ratings and maturities intended to safeguard principal balances and maintain liquidity. The Company maintains its funds in accordance with its investment policy, which defines allowable investments, specifies credit quality standards and is designed to limit the Company’s credit exposure to any single issuer.</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> </span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:6.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">Accounts receivable represent amounts due from collaboration partners. The Company monitors economic conditions to identify facts or circumstances that may indicate that any of its accounts receivable are at risk of collection.</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> </span></p>
CY2022 us-gaap Additional Cash And Cash Equivalent Related Text
AdditionalCashAndCashEquivalentRelatedText
three months or less
CY2022 us-gaap Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
0
CY2021 us-gaap Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
0
CY2020 us-gaap Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
0
CY2022 mrus Increase Decrease In Research And Development Expense
IncreaseDecreaseInResearchAndDevelopmentExpense
5900000
CY2021 mrus Increase Decrease In Research And Development Expense
IncreaseDecreaseInResearchAndDevelopmentExpense
9300000
CY2020 mrus Increase Decrease In Research And Development Expense
IncreaseDecreaseInResearchAndDevelopmentExpense
6000000.0
CY2022Q4 us-gaap Held To Maturity Securities
HeldToMaturitySecurities
197341000
CY2022 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1
CY2022Q4 us-gaap Held To Maturity Securities
HeldToMaturitySecurities
197341000
CY2021Q4 us-gaap Held To Maturity Securities
HeldToMaturitySecurities
194971000
CY2022Q4 us-gaap Held To Maturity Securities Debt Maturities Within One Year Net Carrying Amount
HeldToMaturitySecuritiesDebtMaturitiesWithinOneYearNetCarryingAmount
160884000
CY2022Q4 us-gaap Held To Maturity Securities Debt Maturities After One Through Five Years Net Carrying Amount
HeldToMaturitySecuritiesDebtMaturitiesAfterOneThroughFiveYearsNetCarryingAmount
36457000
CY2022Q4 us-gaap Held To Maturity Securities
HeldToMaturitySecurities
197341000
CY2022Q4 us-gaap Held To Maturity Securities
HeldToMaturitySecurities
197341000
CY2022Q4 us-gaap Held To Maturity Securities Accumulated Unrecognized Holding Gain
HeldToMaturitySecuritiesAccumulatedUnrecognizedHoldingGain
19000
CY2022Q4 us-gaap Held To Maturity Securities Accumulated Unrecognized Holding Loss
HeldToMaturitySecuritiesAccumulatedUnrecognizedHoldingLoss
1015000
CY2022Q4 us-gaap Held To Maturity Securities Fair Value
HeldToMaturitySecuritiesFairValue
196345000
CY2021Q4 us-gaap Held To Maturity Securities
HeldToMaturitySecurities
194971000
CY2021Q4 us-gaap Held To Maturity Securities Accumulated Unrecognized Holding Gain
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5405000
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1475000
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3286000
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CY2021 us-gaap Lessee Operating Lease Description
LesseeOperatingLeaseDescription
During the year ended December 31, 2021, the Company signed a lease amendment (the “Amendment”), which extended the term of the lease for its former corporate headquarters with Stichting Incubator Utrecht by approximately 1.5 years ending at the end of March 2023. The Amendment did not include additional right-of-use other than the extended lease term.
CY2021Q4 us-gaap Lessee Operating Lease Term Of Contract
LesseeOperatingLeaseTermOfContract
P1Y6M
CY2021 mrus Operating Lease Expiration Term
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March 2023
CY2021 mrus Additional Renewal Term
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no
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due
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100000
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2524000
CY2021 us-gaap Operating Lease Cost
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1693000
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366000
CY2021 us-gaap Variable Lease Cost
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409000
CY2022 us-gaap Lease Cost
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2890000
CY2021 us-gaap Lease Cost
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2102000
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2622000
CY2021 us-gaap Operating Lease Payments
OperatingLeasePayments
1704000
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
2276000
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
2154000
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
2170000
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
1731000
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
1508000
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
6432000
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
16271000
CY2022Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
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2797000
CY2022Q4 us-gaap Operating Lease Liability
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13474000
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P8Y3M18D
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P3Y3M18D
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0.048
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0.040
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24535000
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17091000
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9372000
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3984467
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18.40
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2002978
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24.03
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12.06
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162408
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ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
21.25
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
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5722346
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
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20.38
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
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P7Y6M
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
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4697000
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2773633
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
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17.47
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
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P6Y2M12D
CY2022Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
4325000
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
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16.18
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
17.01
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
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1369000
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
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10774000
CY2020 us-gaap Severance Costs1
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CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Accelerated Compensation Cost
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CY2021 us-gaap Derivative Loss On Derivative
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44919084000
CY2022 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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44919084000
CY2021 us-gaap Weighted Average Number Of Shares Outstanding Basic
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38638434000
CY2021 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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38638434000
CY2020 us-gaap Weighted Average Number Of Shares Outstanding Basic
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29256203000
CY2020 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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29256203000
CY2022 us-gaap Earnings Per Share Basic
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-2.92
CY2021 us-gaap Earnings Per Share Basic
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-1.73
CY2020 us-gaap Earnings Per Share Basic
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-2.92
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-2.92

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