- Mersana Therapeutics, Inc. is a clinical-stage biopharmaceutical company developing antibody-drug conjugates for oncological indications.
- Mersana's pipeline consists of four internal therapeutics (2 clinical-stage: XMT-1536, XMT-1592), four undisclosed programs, and one partnered program (ASN004) with Asana Therapeutics.
- Mersana's lead therapeutic is XMT-1536, now known as the UpRi program, and is a first-in-class dolaflexin ADC targeting NaPi2b (a lineage marker).
- Mersana is in a reasonable financial position with cash of $228M (March 2021) alongside a cash burn of -$81M offering 2-3 years of cash runway, a sufficient sum to deter increasing dilutions.
- In summary, the author projects Mersana Therapeutics, Inc. as a "buy" at a 3-4 year Wall Street price target of $27.40 (+96% upside).
For further details see:
Mersana: ADC Developer With New INDs, Sufficient Cash, And XMT-1536 Progress