Stock Alert: Mersana Therapeutics Jumps 20%

(RTTNews) - Shares of Mersana Therapeutics, Inc. (MRSN) are gaining about 20% Monday morning keeping its last week's momentum.

The company's lead drug candidate is XMT-1536, which is in the expansion portion of a phase I proof-of-concept clinical study in patients with ovarian cancer and NSCLC adenocarcinoma.

Meanwhile, US stocks opened higher on Monday driven by news of progress in developing a COVID-19 vaccine and a few multi-billion dollar deals in technology industry.

MRSN is currently trading at $22.31, up $3.66 or 19.60%, on the Nasdaq. Mersana Therapeutics is a clinical-stage biopharmaceutical company developing antibody-drug conjugates (ADCs) targeting cancers.

Last week, the company said it presented preclinical data from its dolasynthen and immunosynthen ADC platforms at American Association for Cancer Research 2020 Virtual annual meeting.