Baird analyst Collen Kusy downgraded Mersana Therapeutics to Neutral from Outperform with a price target of $1, down from $7. The analyst cites the “disappointing” pivotal results for UpRi in platinumresistant ovarian cancer for the downgrade. The firm says its thesis of the UpRi Phase 1/2 data being replicated in a pivotal study was wrong.
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