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Mersana Stock Spikes on Interim Data on Cancer Candidate

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Zacks Equity Research
·3 min read
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Mersana Therapeutics, Inc. MRSN announced interim data from an early-stage study evaluating its antibody-drug conjugate candidate, XMT-1536, in ovarian cancer patients and non-small cell lung (NSCLC) adenocarcinoma.

Interim data from the phase I study showed that the candidate achieved an objective response rate of 35% in evaluable ovarian cancer patients. While 10% of patients achieved a confirmed complete response, 25% of patients had confirmed partial responses. The majority of the patients who responded to the treatment with XMT-1536 had received prior treatment with Roche’s RHHBY Avastin (bevacizumab), PARP inhibitors or both. Disease control rate was 80%.

Shares of Mersana surged more than 69% as investors cheered the encouraging data. In fact, shares of the company have gained 217.5% so far this year compared with the industry’s increase of 6.3%.

The phase I study is evaluating XMT-1536 in patients with ovarian cancer who had a median of three prior lines of treatment, and patients with NSCLC adenocarcinoma, who had a median of two lines of therapy. The company continues to enroll platinum-resistant ovarian cancer patients as well as NSCLC adenocarcinoma patients who had received prior treatment with platinum-based therapy and immunotherapy or targeted agents in the expansion portion of the phase I study.

Interim data from the phase I study also showed that the candidate was well tolerated in patients. Moreover, the data supported continued evaluation of the candidate in patients selected based on NaPi2b biomarker.

These interim data will be presented at the American Society of Clinical Oncology 2020 Virtual Scientific Program on May 29.  The company plans to report more mature data in the second half of 2020.

Mersana Therapeutics, Inc. Price

 

Mersana Therapeutics, Inc. Price
Mersana Therapeutics, Inc. Price

Mersana Therapeutics, Inc. price | Mersana Therapeutics, Inc. Quote

Zacks Rank & Other Stocks to Consider

Mersana currently sports a Zacks Rank #1 (Strong Buy).

A couple of other top-ranked stocks from the biotech sector are Agenus Inc. AGEN and Applied Genetic Technologies Corporation AGTC, both sporting a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.

Agenus’ loss per share estimates have narrowed from $1.23 to $1.14 for 2020 and from $1.26 to $1.13 for 2021 in the past 30 days. The company delivered a positive earnings surprise in three of the trailing four quarters by 13.95%, on average. 

Applied Genetic’s loss per share estimates have narrowed from $2.32 to $2.05 for 2020 and from $2.01 to $1.80 for 2021 in the past 30 days. The company delivered a positive earnings surprise in two of the trailing four quarters by 1.34%, on average.

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Roche Holding AG (RHHBY) : Free Stock Analysis Report
 
Agenus Inc. (AGEN) : Free Stock Analysis Report
 
Applied Genetic Technologies Corporation (AGTC) : Free Stock Analysis Report
 
Mersana Therapeutics, Inc. (MRSN) : Free Stock Analysis Report
 
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