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flag Mersana Therapeutics missed earnings and revenue estimates but saw its stock rise on heavy trading.

flag Mersana Therapeutics reported a third-quarter loss of $1.51 per share, missing estimates by $0.07, and revenue of $11.01 million, below the $14.20 million expected. flag Despite the miss, the stock rose $0.49 to $27.92 on heavy volume. flag The clinical-stage biopharma company, developing antibody-drug conjugates for cancer, has partnerships with Janssen, Merck KGaA, and others. flag Analysts maintain a consensus "Hold" rating with a $55.55 average price target, and institutional ownership is 93.92%.

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