William Blair downgraded Mersana Therapeutics (MRSN) to Market Perform from Outperform after the company announced an agreement to be acquired by Day One Biopharmaceuticals (DAWN) for $25 per share in cash along with a milestone-based contingent value right worth up to $30.25 per share in total. The firm views it as unlikely that another bidder will emerge, the analyst tells investors.
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