Why Mersana Therapeutics Stock Is Plunging Today?
Portfolio Pulse from Vandana Singh
Mersana Therapeutics Inc's stock is plunging after the company announced that the UPLIFT clinical trial of upifitamab rilsodotin (UpRi) did not meet its primary endpoint. The company will now focus on next-generation ADC platforms and plans to complete the dose escalation portion of the Phase 1 clinical trial of XMT-1660 in 2023. Mersana's restructuring plan includes a wind-down of UpRi-related development activities. If data analyses enable the identification of a path forward for UpRi, the company will consider strategic alternatives for the asset, including partnering.
July 27, 2023 | 3:23 pm
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Mersana Therapeutics' stock is plunging due to the failure of the UPLIFT clinical trial. The company's restructuring plan and focus on next-generation ADC platforms may impact the stock's performance.
The failure of the UPLIFT clinical trial is a significant setback for Mersana Therapeutics, leading to a sharp drop in the company's stock price. The company's future plans, including the focus on next-generation ADC platforms and the restructuring of UpRi-related activities, will likely influence the stock's performance in the short term.
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