Why Mersana Therapeutics Stock Is Crashing Today
Shares of Mersana Therapeutics (NASDAQ: MRSN) were crashing 29.1% lower as of 12:47 p.m. EST on Tuesday. The steep decline came after the biotech provided a corporate and pipeline update earlier in the day. Investors were especially disappointed with new data from an early-stage clinical study evaluating XMT-1536 in treating ovarian cancer.
Mersana announced that patients receiving XMT-1536 in its phase 1 study achieved an objective response rate (ORR) of 28%. ORR is the percentage of patients whose cancer shrank by a predetermined level after treatment. The problem with Mersana's latest ORR figure is that it's significantly lower than the 35% ORR reported in May 2020.
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Source Fool.com
