Cautious Hold Rating on Merus: Promising Efficacy in CRC Amidst Limited DataWe have received investor questions about whether in light of this update, the Genmab deal appropriately valued this indication. While these data are impressive, we note that the dataset is small, and too immature to provide insight into durability. Separately, data reported last week for Amivantamab in HNSCC, suggested the potential to be competitive with HNSCC, although the dataset is small, and not directly comparable. Net-net, we continue to expect the Genmab to close and do not expect additional interested parties to step in.