Mersana Therapeutics, Inc. today announced the implementation of a strategic restructuring and reprioritization plan aimed at extending the company’s cash runway and focusing on the development of emiltatug ledadotin (Emi-Le; XMT-1660). The plan involves a significant reduction of approximately 55% of the company's workforce across all functions, with the reduction expected to be substantially complete by the end of the third quarter of 2025.
As part of this restructuring, Mersana will reduce its research activities and eliminate its internal pipeline development efforts, including preclinical candidates XMT-2068 and XMT-2175. The company will now concentrate Emi-Le development efforts primarily on breast cancer, aiming to generate additional safety, tolerability, and clinical activity data in this area. Mersana will continue to support its Phase 1 dose escalation work for XMT-2056 and its ongoing collaborations.
These collective actions are projected to provide Mersana with sufficient cash resources to support its current operating plan commitments into mid-2026. The restructuring is expected to incur $4.0 million to $4.5 million in costs, primarily related to severance and benefits. This strategic shift reflects a focused approach to resource allocation in a challenging macroeconomic environment.
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