Summary
- Shares have lost two-thirds of their value since IPO was priced in 2017.
- Antibody drug conjugates have been a successful class of drugs, and the company's technologies seek to improve on them.
- Lead program XMT-1536 targets NaPi2b, which has received prior validation and is widely expressed on several tumor types.
- Initial data to be presented at ASCO (ORR of 15% at doses of 20 mg/m2 or higher) appears intriguing, given that patients weren't prescreened for NaPi2b expression.
- Expansion cohorts will be pursued and higher expression levels of NaPi2b expression could lead to more durable, deeper responses. The stock is a Speculative Buy.
- Looking for a community to discuss ideas with? ROTY features a chat room of like-minded investors sharing investing ideas and strategies. Get started today »
Shares of Mersana Therapeutics (NASDAQ:MRSN) have lost two-thirds of their value since its IPO was priced at $15 in June of 2017. So far, in 2019, shares have risen by over 20%, as interest comes back to the name due to intriguing preliminary data for its lead program.
Given that it has a poster presentation coming up at ASCO (American Society of Clinical Oncology) annual meeting and a semi-recent presentation got my attention, let's take a closer look to determine if there's a near-term opportunity to take advantage of.
