Mersana Therapeutics (MRSN) stock rocketed higher on Thursday after the clinical-stage biopharmaceutical company announced an acquisition deal with commercial-stage company Day One Biopharmaceuticals (DAWN). The deal has a total equity value of $129 million and could reach $285 million if certain conditions are met.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Under the terms of the deal, Day One Biopharmaceuticals will make a tender offer of $25 per share in cash for MRSN stock and also include a possible $30.25 per share in cash in contingent value rights. The contingent value rights will be paid to MRSN shareholders if certain clinical development, regulatory, and commercial milestones are met.
The Mersana Therapeutics and Day One Biopharmaceuticals Boards of Directors have given their unanimous support to the deal. A tender offer for MRSN stock will take place within 10 days of the Nov. 12 deal announcement, with the merger set to close by the end of January 2026. Investors who hold 8.5% of the company’s shares have already agreed to tender their shares to Day One Biopharmaceuticals.
Mersana Therapeutics Stock Movement Today
Mersana Therapeutics stock was up 202.14% in pre-market trading on Thursday, following a slight dip yesterday. The shares have fallen 75.19% year-to-date and 85.92% over the past 12 months.
Today’s merger news has attracted traders to MRSN stock, bringing with it heavy trading. This had more than 684,000 shares traded this morning, compared to a three-month daily average trading volume of about 62,000 units.
Is Mersana Therapeutics Stock a Buy, Sell, or Hold?
Turning to Wall Street, the analysts’ consensus rating for Mersana Therapeutics is Strong Buy, based on four Buy ratings over the past three months. With that comes an average MRSN stock price target of $40, representing a potential 350.96% upside for the shares.
