Stock Alert: Mersana Therapeutics Up 30% On Positive Data Of Cancer Drug

(RTTNews) - Shares of Mersana Therapeutics, Inc. (MRSN) jumped over 30% on Wednesday morning after the pharma company reported positive data from phase 1 study of its cancer drug.

MRSN is currently trading at $14.05, up $3.29 or 30.58%, on the Nasdaq.

The clinical-stage biopharmaceutical on Wednesday reported interim safety, tolerability and efficacy data from the ongoing expansion portion of the Phase 1 study evaluating XMT-1536.

XMT-1536 is being developed to treat patients with ovarian cancer and non-small cell lung (NSCLC) adenocarcinoma.

"These data demonstrate not only that XMT-1536, our first-in-class Dolaflexin ADC targeting NaPi2b, can deliver confirmed complete responses, partial responses and durable stable disease in platinum-resistant ovarian cancer, but also that these responses can deepen over time in a patient population with poor prognosis and limited treatment options," said Anna Protopapas, President and Chief Executive Officer of Mersana Therapeutics.

The company added that XMT-1536 showed that it is generally well tolerated, without the dose-limiting toxicities of other ADC platforms such as severe neutropenia, neuropathy and ocular toxicity.

Mersana intends to report "more mature data" in the second half of the year.