Mersana Therapeutics announces restructuring plans; shares fall

Shares of drug developer Mersana Therapeutics MRSN.O fall 5.5% to 34 cents premarket

MRSN announces restructuring and reprioritization plan to extend its cash and for further development of its experimental cancer drug, emiltatug ledadotin

Restructuring plan will reduce workforce by about 55% across functions, expected to be substantially be complete by end of Q3 2025, MRSN says

Co to also reduce its research activities and eliminate internal pipeline development efforts

These actions are expected to provide co with sufficient cash resources to support its current operating plan commitments into mid-2026, MRSN says

Brokerage William Blair says given stock pullback, this creates an attractive entry point into the story and offers an opportunity to gain access to the experimental therapy

Up to last close, stock down 74.5% YTD