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Guy Sips ... (+9)
  • Guy Sips
  • Hilde Van Boxstael
  • Jacob Mekhael
  • Kristof Samoy
  • Livio Luyten
  • Mathijs Geerts Danau
  • Michiel Declercq
  • Wim Hoste
  • Wim Lewi

Morning Notes : ACKB BB, AKZA NA, IBAB BB, ONTEX BB, SEQUA BB, XIOR BB...

: ACKB BB, AKZA NA, IBAB BB, ONTEX BB, SEQUA BB, XIOR BB, DEME BB, ARG FP, ZEAL DC

ING Helpdesk
  • ING Helpdesk

Benelux Morning Notes

AkzoNobel: Announces merger of equals with US coatings peer Axalta. EVS: 3Q25 preview. GBL: Sale of half of Umicore stake. IBA: Negative press on poor Proton Therapy results, controversy about Dutch PT centres

Guy Sips ... (+4)
  • Guy Sips
  • Jacob Mekhael
  • Livio Luyten
  • Wim Hoste
Jacob Mekhael
  • Jacob Mekhael

Merus Petosemtamab phase 2 mCRC results show high response rates

Merus announced interim clinical data (29 July 2025 cutoff) from the ongoing phase 2 trial of petosemtamab (EGFR x LGR5 bispecific antibody) + standard of care FOLFOX/FOLFIRI (chemo) in 1L, 2L metastatic CRC (mCRC) and petosemtamab monotherapy in 3L+ mCRC. The results were presented at the AACR-NCI-EORTC, and confirm and build upon the responses reported from an initial dataset with a previous cut-off date (28 April 2025). We view the numbers as competitive vs. cetuximab (EGFR antibody) + FOLFOX...

Guy Sips ... (+8)
  • Guy Sips
  • Hilde Van Boxstael
  • Jacob Mekhael
  • Kristof Samoy
  • Lynn Hautekeete
  • Mathijs Geerts Danau
  • Michiel Declercq
  • Thomas Couvreur
 PRESS RELEASE

Merus’ Interim Data on Petosemtamab in Metastatic Colorectal Cancer De...

Merus’ Interim Data on Petosemtamab in Metastatic Colorectal Cancer Demonstrates Monotherapy Activity and Robust Response Rate in Combination with FOLFOX/FOLFIRI with Well Tolerated Safety – 100% response rate in 1L left-sided mCRC (n=8, confirmed and unconfirmed) – 62% response rate in 2L left- and right-sided mCRC (n=13, confirmed and unconfirmed)  UTRECHT, The Netherlands and CAMBRIDGE, Mass., Oct. 24, 2025 (GLOBE NEWSWIRE) -- (Nasdaq: MRUS) (Merus, the Company, we, or our), an oncology company developing innovative, full-length multispecific antibodies and antibody drug conjugates ...

Wim Hoste
  • Wim Hoste

Akzo Nobel Feedback 3Q results conference call

Below are the highlights of the 3Q25 results conference call. 3Q adjusted EBITDA dropped by 2% y/y and was in line with consensus whilst being 2% below our forecast. Akzo adjusted FY25 adj EBITDA guidance from ‘above €1.48bn' to ‘around €1.48bn' which seems in line with our and consensus forecasts. FY performance is still to be supported by € 170m targeted gross savings. Taking into account the volatile track record and low structural growth, we maintain our Hold rating and €65 TP.

ING Helpdesk
  • ING Helpdesk

Benelux Morning Notes

AkzoNobel: 3Q25 in-line, FY guidance trimmed, €300m provision for Ichthys court case. Gimv: ImCheck Therapeutics checked out. Heineken: 3Q25 trading update; outlook FY25 slightly lowered. KPN: Ziggo 2Gbits internet roll out for c.7m homes by end 2025, full Netherlands by 2026. Randstad: 3Q25 result beats 5%; outlook 4Q25 also beats; strong OPEX performance

Guy Sips ... (+4)
  • Guy Sips
  • Livio Luyten
  • Thomas Couvreur
  • Wim Hoste
Wim Hoste
  • Wim Hoste

Akzo Nobel FIRST LOOK: 3Q adj. EBITDA -2%, FY EBITDA guidance slightly...

3Q adjusted EBITDA dropped by 2% y/y and was in line with consensus whilst being 2% below our forecast. Akzo adjusted FY25 adj EBITDA guidance from ‘above € 1.48bn' to ‘around € 1.48bn' which seems in line with our and consensus forecasts. FY performance is still to be supported by € 170m targeted gross savings. Taking into account the volatile track record and low structural growth, we maintain our Hold rating and € 65 TP.

Guy Sips ... (+6)
  • Guy Sips
  • Jacob Mekhael
  • Mathijs Geerts Danau
  • Michiel Declercq
  • Thibault Leneeuw
  • Wim Hoste

Morning Notes : ABI BB, ASML NA, BAR BB, OPTI BB, HEIA NA, IVA FP, PRO...

: ABI BB, ASML NA, BAR BB, OPTI BB, HEIA NA, IVA FP, PROX BB, SEQUA BB, MRUS US

 PRESS RELEASE

Merus Announces Publication of an Abstract on Petosemtamab in Metastat...

Merus Announces Publication of an Abstract on Petosemtamab in Metastatic Colorectal Cancer at the AACR-NCI-EORTC International Conference on Molecular Targets and Cancer Therapeutics - Petosemtamab in combination with FOLFOX /FOLFIRI (1L and 2L mCRC) and as monotherapy (3L+ mCRC), demonstrates antitumor activity and a manageable safety profile UTRECHT, The Netherlands and CAMBRIDGE, Mass., Oct. 14, 2025 (GLOBE NEWSWIRE) -- (Nasdaq: MRUS) (Merus, the Company, we, or our), an oncology company developing innovative, full-length multispecific antibodies and antibody drug conjugates (Bicloni...

 PRESS RELEASE

Merus Announces Petosemtamab in Metastatic Colorectal Cancer Abstract ...

Merus Announces Petosemtamab in Metastatic Colorectal Cancer Abstract Selected for Plenary Session Oral Presentation at the AACR-NCI-EORTC International Conference on Molecular Targets and Cancer Therapeutics -   Plenary session oral presentation: Friday, October 24 10:00 -11:40 a.m. ET -   Poster presentation on preclinical evaluation of petosemtamab on cancer stem cells: Friday, October 24 12:30-4:00 p.m. ET UTRECHT, The Netherlands and CAMBRIDGE, Mass., Oct. 13, 2025 (GLOBE NEWSWIRE) -- (Nasdaq: MRUS) (Merus, the Company, we, or our), an oncology company developing innovative, full-...

Stijn Demeester
  • Stijn Demeester

AkzoNobel/3Q25 preview and model update/HOLD

Ahead of AkzoNobel's 3Q25 results, we update our model and trim our 2025F-27F Adj. EBITDA estimates by c.2.5% to reflect slightly softer volume development in 2H25, and mark-to-market of FX. We reiterate our HOLD and €65 per share target price.

Guy Sips ... (+6)
  • Guy Sips
  • Hilde Van Boxstael
  • Jacob Mekhael
  • Mathijs Geerts Danau
  • Michiel Declercq
  • Wim Lewi
Guy Sips ... (+5)
  • Guy Sips
  • Hilde Van Boxstael
  • Mathijs Geerts Danau
  • Michiel Declercq
  • Wim Lewi
 PRESS RELEASE

Merus to Present at the 2025 Wells Fargo Healthcare Conference

Merus to Present at the 2025 Wells Fargo Healthcare Conference UTRECHT, The Netherlands and CAMBRIDGE, Mass., Aug. 28, 2025 (GLOBE NEWSWIRE) --  . (Nasdaq: MRUS), an oncology company developing innovative, full-length multispecific antibodies and antibody drug conjugates (Biclonics®, Triclonics® and ADClonics®), today announced that Bill Lundberg, M.D., President, Chief Executive Officer of Merus, will participate in a fireside chat at the 2025 Wells Fargo Healthcare Conference on Thursday, September 4, 2025 at 3:45 p.m. ET. The webcast of the presentation will be contemporaneously ava...

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