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Sep 30, 2023
Mersana Q3 2023 Earnings Report
Mersana Therapeutics reported financial results for the third quarter ended September 30, 2023.
Key Takeaways
Mersana Therapeutics is advancing XMT-1660 in Phase 1 dose escalation and preparing to resume enrollment in the Phase 1 clinical trial of XMT-2056. The company reported top-line data from UPLIFT, its Phase 2 clinical trial of upifitamab rilsodotin (UpRi), that showed the trial did not meet its primary endpoint.
Advanced XMT-1660 in Phase 1 dose escalation with plans to initiate dose expansion in 2024.
Preparing to resume enrollment in Phase 1 clinical trial of XMT-2056.
Reported top-line data from UPLIFT Phase 2 clinical trial of upifitamab rilsodotin (UpRi) that did not meet its primary endpoint.
Received $6 million in milestone payments from Janssen Biotech, Inc. agreement in Q3 2023.
Forward Guidance
Mersana expects to complete the dose escalation portion of the Phase 1 clinical trial for XMT-1660 by the end of 2023 and initiate the dose expansion portion of the trial in 2024. The company plans to share detailed efficacy and safety data from the UPLIFT trial in the first half of 2024.
Positive Outlook
- Complete dose escalation portion of XMT-1660 Phase 1 trial by end of 2023.
- Initiate dose expansion portion of XMT-1660 trial in 2024.
- Share detailed efficacy and safety data from UPLIFT trial in the first half of 2024.
Historical Earnings Impact
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