Mersana halves workforce in light of ovarian cancer trial flop, spelling end to its lead ADC
Mersana Therapeutics will lay off about half its workforce and reprioritize after a Phase III trial failure in platinum-resistant ovarian cancer, sending shares $MRSN tanking 72% Thursday morning.
The Cambridge, MA-based biotech said its antibody-drug conjugate upifitamab rilsodotin, or UpRi, did not hit the main goal of objective response rate in the single-arm Phase III UPLIFT trial that enrolled 268 patients. Medical chief Arvin Yang said the trial did not replicate what was seen from about 100 patients in a Phase Ib dose expansion portion.
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