** Shares of drug developer Mersana Therapeutics MRSN.O fall 5.5% to 34 cents premarket
** MRSN announces restructuring and reprioritization plan to extend its cash and for further development of its experimental cancer drug, emiltatug ledadotin
** Restructuring plan will reduce workforce by about 55% across functions, expected to be substantially be complete by end of Q3 2025, MRSN says
** Co to also reduce its research activities and eliminate internal pipeline development efforts
** These actions are expected to provide co with sufficient cash resources to support its current operating plan commitments into mid-2026, MRSN says
** Brokerage William Blair says given stock pullback, this creates an attractive entry point into the story and offers an opportunity to gain access to the experimental therapy
** Up to last close, stock down 74.5% YTD
(Reporting by Sneha S K)
((Sneha.SK@thomsonreuters.com))
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