Mersana Therapeutics, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 07, 2023 at 08:43 am
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Mersana Therapeutics, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported net loss was USD 41.66 million compared to USD 59.81 million a year ago. Basic loss per share from continuing operations was USD 0.35 compared to USD 0.61 a year ago.
For the nine months, net loss was USD 152.13 million compared to USD 159.29 million a year ago. Basic loss per share from continuing operations was USD 1.33 compared to USD 1.75 a year ago.
Mersana Therapeutics, Inc. is a clinical-stage biopharmaceutical company, which is focused on the development of antibody-drug conjugates (ADCs), which offer a clinically meaningful benefit for cancer patients with significant unmet needs. It has developed two proprietary and differentiated ADC platforms: Dolasynthen and Immunosynthen. Dolasynthen is its cytotoxic ADC platform that is designed to generate site-specific, homogeneous ADCs. Immunosynthen is its proprietary stimulator of interferon genes (STING)-agonist platform that is designed to generate systemically administered ADCs that locally activate STING signaling in both antigen-expressing tumor cells and in tumor-resident immune cells. The Company's pipeline also includes XMT-1660, a Dolasynthen ADC targeting B7-H4 in a Phase I clinical trial, and XMT-2056, an Immunosynthen ADC targeting a novel epitope of human epidermal growth factor receptor 2 (HER2), in addition to other earlier-stage assets.