Mersana Therapeutics Inc (NASDAQ: MRSN) is having an overwhelmingly strong start to the trading session this morning, and for good reason. The company announced that the FDA has lifted a clinical hold, allowing it to move forward with a key clinical study. Of course, the news excited investors who are sending the stock on a run for the top. Today, w’ell talk about:
- The regulatory update;
- what we’re seeing from MRSN as a result; and
- what we’ll be watching for ahead.
MRSN Announces Regulatory News
As mentioned above, Mersana Therapeutics is having an incredibly strong start to the trading session this morning after the company announced that the FDA lifted a clinical hold. In a press release issued early this morning, the company said that the United States Food and Drug Administration has lifted the partial hold on its Phase 1 clinical study of XMT-1522.
The news was announced after the FDA and MRSN reached an agreement on changes to the study protocol. These changes include increased monitoring as well as the exclusion of patients with advanced hepatic impairment. The company also said that while its XMT-1536 candidate was not subject to the hold, it has decided to make similar modifications to study protocol surrounding that drug as well.
MRSN also announced that alternative dosing regimens will be evaluated in both clinical trials. In a statement, Anna Protopapas, CEO at MRSN, had the following to offer:
We are excited to resume enrollment on the XMT-1522 trial and to work with investigators to explore the full potential of both promising drug candidates in the solid tumor setting.
What We’re Seeing From The Stock
One of the first lessons that we learn when we start to work in the market is that it’s important to keep an eye on the news. After all, the news leads to moves in the market. With the news that Mersana will be able to move forward with its clinical trial now that the hold has been lifted, it only makes sense that excitement is hitting investors and the stock is climbing as a result. As is normally the case, our partners at Trade Ideas were the first to alert us to the gains. Currently (8:03), MRSN is trading at $15.50 per share after a gain of $1.12 per share or 7.79% thus far today.
Stop wasting your time! Start finding winning trades in minutes with Trade Ideas!
What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on MRSN. In particular, we’re interested in following the story surrounding the company’s continued work to bring both XMT-1522 and XMT-1536 to market. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
Never Miss The News Again
Do you want real-time, actionable news delivered to your inbox? Join the CNA Finance mailing list below!