Why Are Mersana Therapeutics Shares Nosediving Today
Portfolio Pulse from Vandana Singh
The FDA has issued a partial clinical hold on Mersana Therapeutics' (NASDAQ:MRSN) UP-NEXT and UPGRADE-A clinical trials of UpRi in platinum-sensitive ovarian cancer, following a submission of a recent aggregate safety report evaluating bleeding events. MRSN shares are down 64.8% at $3.36 during the premarket session.
June 15, 2023 | 12:30 pm
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Mersana Therapeutics' (MRSN) shares nosedive after FDA issues partial clinical hold on UP-NEXT and UPGRADE-A trials due to bleeding events.
The FDA's partial clinical hold on Mersana Therapeutics' UP-NEXT and UPGRADE-A trials is a significant setback for the company, as it pauses new patient enrollment. This news has a direct negative impact on MRSN's stock price, as evidenced by the 64.8% drop in premarket trading. The hold is due to concerns about bleeding events, which could potentially affect the future development and approval of the drug.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100