Why Mersana Therapeutics Stock Is Skyrocketing Today

Shares of Mersana Therapeutics (NASDAQ: MRSN) were skyrocketing 32.7% higher as of 11:07 a.m. EDT on Wednesday. The big jump came after the biotech announced positive interim results from the expansion portion of an early-stage study evaluating antibody-drug conjugate (ADC) XMT-1536 in treating patients with ovarian cancer.

Investors liked the numbers that Mersana reported from its early-stage study. Patients receiving XMT-1536 achieved a 35% objective response rate (tumor reduction by a pre-specified amount). Ten percent of patients with ovarian cancer experienced complete remission after taking XMT-1536. The disease control rate (proportion of patients with complete response, partial response, or stable disease) was 80%.

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Source Fool.com