Mersana Therapeutics reports Q3 EPS (35c), consensus (36c)

Reports Q3 revenue $7.698M, consensus $9.35M. “Our team has made considerable progress on multiple fronts in recent months as we seek to demonstrate the clinical potential of our next-generation ADC platforms,” said Martin Huber, M.D., President and Chief Executive Officer of Mersana Therapeutics. “With recent clinical presentations at the European Society of Medical Oncology Congress 2023 affirming B7-H4 as an intriguing oncology target, we are advancing XMT-1660 in Phase 1 dose escalation with plans to initiate dose expansion in 2024. Additionally, we are now preparing to resume enrollment in our Phase 1 clinical trial of XMT-2056, a novel HER2-directed STING-agonist ADC product candidate. We believe this progress and the actions we have taken to right-size the company provide an exciting opportunity to advance our clinical assets to their next milestones.”