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- Mersana Therapeutics Inc (NASDAQ:MRSN) announced a global collaboration that provides GSK plc (NYSE:GSK) an exclusive option to co-develop and commercialize XMT-2056.
- XMT-2056 is designed to activate the innate immune system through STING signaling in both tumor-resident immune cells and tumor cells.
- Mersana expects to initiate a Phase 1 trial of XMT-2056 to investigate its potential in a range of HER2-expressing tumors. The FDA recently granted an orphan drug designation to XMT-2056 for gastric cancer.
- Mersana will receive an upfront option purchase fee of $100 million. Mersana also is eligible to receive up to $1.36 billion in the form of an option exercise payment and development, regulatory and commercial milestone payments if GSK exercises its option.
- Mersana has retained options to profit-share and to co-promote in the U.S.
- Mersana held cash, cash equivalents, and marketable securities of $225.1 million at the end of Q2. The company expects that its available funds, together with the $100 million option payment due from GSK, will be sufficient to support its operating plan commitments into 1H of 2024.
- Price Action: MRSN shares closed 14.3% higher at $6.00 during after-hours trading on Monday. GSK stock is down 0.37% at $40.16 during the premarket session on the last check Tuesday.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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