Why Mersana Therapeutics (MRSN) Spiked 69% Today

www.investing.com/analysis/why-mersana-therapeutics-mrsn-spiked-69-today-200525923

By Zacks Investment Research | May 27, 2020 06:33AM ET

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Shares of biotech firm Mersana Therapeutics (NASDAQ:MRSN) MRSN soared on Wednesday, closing up 69% to $18.19 per share.

Mersana reported positive interim results of an early-stage study of XMT-1536, an antibody-drug conjugate for treatment of patients with ovarian cancer. 10% of patients experienced complete remission after taking XMT-1536, while others achieved a 35% objective response rate. This means they saw tumor reduction by a pre-determined amount.

The drug candidate also has a good safety profile. CEO Anna Protopapas said the drug was “generally well tolerated”

Mersana is planning on reporting additional data from the study in the second half of 2020, which could be another big driver for the stock.

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Why Mersana Therapeutics (MRSN) Spiked 69% Today

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