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Mersana Therapeutics missed earnings and revenue estimates but saw its stock rise on heavy trading.
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.
Despite the miss, the stock rose $0.49 to $27.92 on heavy volume.
The clinical-stage biopharma company, developing antibody-drug conjugates for cancer, has partnerships with Janssen, Merck KGaA, and others.
Analysts maintain a consensus "Hold" rating with a $55.55 average price target, and institutional ownership is 93.92%.
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Mersana Therapeutics no cumplió con las estimaciones de ganancias e ingresos, pero vio subir sus acciones debido a las fuertes operaciones.