Mersana Therapeutics Inc Stock Research

Market Summary

USD7.50+0.43

Market Closed

6.08%

MRSN Alerts

Losses in recent quarter

MRSN Stock Price

MRSN RSI Chart

MRSN Valuation

Market Cap

771.1M

Price/Earnings (Trailing)

-3.62

Price/Sales (Trailing)

23.84

Price/Free Cashflow

-10.53

MRSN Price/Sales (Trailing)

MRSN Profitability

Return on Equity

-221.82%

Return on Assets

-61.08%

Free Cashflow Yield

-9.49%

MRSN Fundamentals

MRSN Revenue

Revenue (TTM)

32.3M

Revenue Y/Y

1.3K%

Revenue Q/Q

163.56%

MRSN Earnings

Earnings (TTM)

-213.1M

Earnings Y/Y

-18.92%

Earnings Q/Q

-25.17%

Price Action

52 Week Range

2.928.39

(Low)(High)

Last 7 days

-6.4%

Last 30 days

61.4%

Last 90 days

21.7%

Trailing 12 Months

112.3%

MRSN Financial Health

Current Ratio

3.49

Debt/Equity

0.27

Debt/Cashflow

-1.99

MRSN Investor Care

Shares Dilution (1Y)

25.25%

Diluted EPS (TTM)

-2.11

Peers (Alternatives to Mersana Therapeutics)

View All Peers In Detail

Name	Mkt Capsorted ascending	Revenue	Price %, 1M	Returns, 1Y	P/E	P/S	Rev 1-Yr	Inc 1-Yr
LARGE-CAP
BGNE	311.1B	1.6B	-10.47%	70.40%	-162.26	199.76	77.54%	1.62%
ABBV	285.4B	56.7B	-9.71%	-7.25%	24.12	4.92	0.03%	-39.22%
REGN	87.6B	12.4B	-9.13%	5.17%	20.2	7.2	-25.07%	-47.28%
VRTX	83.8B	9.2B	-4.53%	18.84%	25.7	9.1	15.86%	32.99%
ALNY	23.2B	1.0B	-6.40%	45.93%	-21.75	22.33	22.88%	-19.27%
SRPT	11.6B	975.7M	1.67%	67.21%	-10.42	11.92	27.41%	-212.78%
UTHR	9.6B	2.0B	-10.84%	-12.99%	13.17	4.84	12.05%	52.86%
MID-CAP
MDGL	5.1B	-	-10.25%	307.66%	-16.27	2.5K	-	-27.52%
BPMC	3.4B	204.6M	10.50%	0.21%	-5.87	16.66	-7.52%	10.65%
RARE	3.4B	363.3M	10.85%	-0.47%	-4.8	9.35	3.39%	-55.81%
MRTX	2.2B	18.9M	-16.27%	-6.81%	-2.93	114.18	-	-16.17%
SMALL-CAP
CYTK	3.6B	-	1.50%	-9.34%	-8.36	38.06	34.30%	-67.22%
CPRX	1.2B	256.5M	-27.45%	57.57%	12.31	4.77	66.85%	120.61%
MGNX	288.8M	165.3M	-32.22%	33.43%	-3.16	1.75	130.70%	57.97%
CRBP	37.4M	-	1.03%	2894.60%	-0.74	19.11	-	-29.84%

Financials for Mersana Therapeutics

* denotes actual numbers (not divided by Thousands)
Income Statement (Last 12 Months)					(In Thousands)
Description	(%) Q/Q	2023Q1	2022Q4	2022Q3	2022Q2	2022Q1
Revenue	21.7%	32,347	26,581	15,857	12,640	8,144
Operating Expenses	7.4%	247,363	230,348	217,876	198,063	182,867
S&GA Expenses	9.7%	62,509	56,963	52,832	48,383	42,463
R&D Expenses	6.6%	184,854	173,385	165,044	149,680	140,404
Interest Expenses	7.8%	3,587	3,328	3,345	2,563	1,898
Net Income	-4.4%	-213,119	-204,200	-208,277	-193,977	-182,671
Net Income Margin	41.5%	-7.68*	-13.13*	-4.41	-	-
Free Cahsflow	-22.5%	-51,560	-42,101	-132,416	-121,784	-

Balance Sheet					(In Millions)
Description	(%) Q/Q	2023Q1	2022Q4	2022Q3	2022Q2	2022Q1
Assets	-11.4%	296	334	315	252	258
Current Assets	-11.7%	282	319	300	237	241
Cash Equivalents	-4.3%	123	129	184	135	230
Net PPE	-	4.00	-	-	-	-
Liabilities	-4.3%	232	242	225	118	118
Current Liabilities	-8.9%	83.00	92.00	89.00	71.00	56.00
Long Term Debt	0.3%	25.00	25.00	25.00	-	-
LT Debt, Non Current	0.3%	25.00	25.00	-	-	-
Shareholder's Equity	-30.2%	64.00	92.00	90.00	134	141
Retained Earnings	-8.6%	-710	-654	-609	-549	-497
Additional Paid-In Capital	3.8%	775	747	700	684	638
Shares Outstanding	3.7%	109	105	99.00	97.00	87.00

Cashflow (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2023Q1	2022Q4	2022Q3	2022Q2	2022Q1
Cashflow From Operations	-42.6%	-70.41	-49.36	-40.53	-131	-120
Share Based Compensation	4.3%	22.00	22.00	21.00	21.00	20.00
Cashflow From Investing	1.1%	-150	-152	-107	-91.00	-0.86
Cashflow From Financing	-25.4%	114	153	140	130	124

Risks for MRSN

What is the probability of a big loss on MRSN?

100%

Probability that Mersana Therapeutics stock will be more than 20% underwater in next one year

100%

Probability that Mersana Therapeutics stock will be more than 30% underwater in next one year.

94.2%

Probability that Mersana Therapeutics stock will be more than 40% underwater in next one year.

*Calculated based on probability distribution of losses observed in actual data in the last 5 years.

How does MRSN drawdown profile look like?

Y-axis is the maximum loss one would have experienced if Mersana Therapeutics was unfortunately bought at previous high price.

Drawdowns

Returns for MRSN

Cumulative Returns on MRSN

-19.5%

5-Year Cumulative Returns

-32.2%

3-Year Cumulative Returns

What are the long-term rolling returns for MRSN?

FIve years rolling returns for Mersana Therapeutics.

Annualized Returns

Which funds bought or sold MRSN recently?

View All Details

Datesorted ascending	Fund Name	Type	% Chg	$ Change	$ Held	% Portfolio
2023-05-26	ProShare Advisors LLC	reduced	-8.82	-42,593	75,550	-%
2023-05-22	AMERIPRISE FINANCIAL INC	sold off	-100	-158,000	-	-%
2023-05-18	JPMORGAN CHASE & CO	reduced	-68.57	-1,767,000	500,000	-%
2023-05-18	NEW YORK STATE COMMON RETIREMENT FUND	reduced	-33.71	-175,000	153,000	-%
2023-05-17	Thrivent Financial for Lutherans	unchanged	-	-107,000	250,000	-%
2023-05-16	FRED ALGER MANAGEMENT, LLC	sold off	-100	-2,217,720	-	-%
2023-05-16	SUSQUEHANNA INTERNATIONAL GROUP, LLP	added	586	893,196	1,127,320	-%
2023-05-16	Hudson Bay Capital Management LP	added	132	1,018,900	2,630,400	0.01%
2023-05-15	TWO SIGMA SECURITIES, LLC	sold off	-100	-89,224	-	-%
2023-05-15	Royal Bank of Canada	reduced	-60.32	-55,000	21,000	-%

Latest Funds Activity

Are funds buying MRSN calls or puts?

Calls

Puts

Are funds bullish or bearish(Calls - Puts)?

Net Call Options

No. of funds that own MRSN

No. of Funds

MRSN Alerts

Losses in recent quarter

Mersana Therapeutics News

Schedule 13G FIlings of Mersana Therapeutics

Date Filed	Name of Filer	Percent of Class	No. of Shares	Form Type
Feb 14, 2023	bb biotech ag	4.1%	4,066,200	SC 13G/A
Feb 14, 2023	avoro capital advisors llc	7.6%	7,550,000	SC 13G/A
Feb 14, 2023	rho ventures v, l.p.	0%	0	SC 13G/A
Feb 14, 2023	orbimed advisors llc	7.1%	7,082,837	SC 13G
Feb 09, 2023	vanguard group inc	4.46%	4,449,040	SC 13G/A
Feb 06, 2023	wellington management group llp	0.00%	0	SC 13G/A
Feb 03, 2023	state street corp	5.87%	5,856,061	SC 13G/A
Jan 31, 2023	blackrock inc.	7.5%	7,491,929	SC 13G/A
Jan 19, 2023	millennium management llc	3.7%	3,663,527	SC 13G/A
May 11, 2022	bain capital life sciences fund ii, l.p.	3.4%	3,294,423	SC 13D/A

MRSN Fair Value

Show Fair-Value

Recent SEC filings of Mersana Therapeutics

View All Filings

Date Filed	Form Type	Document
May 09, 2023	10-Q	Quarterly Report
May 09, 2023	8-K	Current Report
May 09, 2023	S-3ASR	S-3ASR
Apr 28, 2023	4	Insider Trading
Apr 28, 2023	ARS	ARS
Apr 28, 2023	DEF 14A	DEF 14A
Apr 28, 2023	DEFA14A	DEFA14A
Apr 14, 2023	PRE 14A	PRE 14A
Apr 05, 2023	4	Insider Trading
Apr 05, 2023	4	Insider Trading

Latest Insider Trading transactions for MRSN

Filter Transactions

Datesorted ascending	Name	Buy/Sell	$ Value	Avg. Price	# Shares	Title
2023-04-27	Carvajal Alejandra	sold	-15,342	3.89	-3,944	svp, chief legal officer
2023-04-26	Carvajal Alejandra	acquired	-	-	13,250	svp, chief legal officer
2023-04-03	MOTT DAVID M	acquired	-	-	4,866	-
2023-04-03	Dere Willard H	acquired	-	-	3,375	-
2023-01-17	Carvajal Alejandra	sold	-4,488	5.74	-782	svp, chief legal officer
2023-01-17	Mandelia Ashish	sold	-20,520	5.74	-3,575	vp, controller
2023-01-17	Protopapas Anna	sold	-99,566	5.74	-17,346	president & ceo
2023-01-17	MISRA TUSHAR	sold	-2,628	5.74	-458	svp, cmo
2023-01-17	Lowinger Timothy B	sold	-35,777	5.74	-6,233	svp, chief sci.&tech. off.
2023-01-17	DeSchuytner Brian	sold	-29,451	5.74	-5,131	svp, chief financial officer

About Mersana Therapeutics

Anna Protopapas

170

Mersana Therapeutics, Inc., a clinical stage biopharmaceutical company, develops antibody drug conjugates (ADC) for cancer patients with unmet need. It develops XMT-1592, a Dolasynthen ADC targeting NaPi2b-expressing tumor cells, which is in phase I clinical trial for the treatment of ovarian cancer and NSCLC adenocarcinoma. The company also develops XMT-1660, a B7-H4-targeted Dolasynthen ADC candidate; and XMT-2056, an immunosynthen development candidate. It has a strategic research and development partnerships with Merck KGaA and Asana BioSciences, LLC for the development of ADC product candidates utilizing Fleximer. The company was formerly known as Nanopharma Corp. and changed its name to Mersana Therapeutics, Inc. in November 2005. Mersana Therapeutics, Inc. was incorporated in 2001 and is headquartered in Cambridge, Massachusetts.

MRSN Income Statement

2023-03-31

Condensed Consolidated Statements of Operations and Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Income Statement [Abstract]
Collaboration revenue	$ 7,802	$ 2,036
Operating expenses:
Research and development	47,275	35,806
General and administrative	18,328	12,782
Total operating expenses	65,603	48,588
Other income (expense):
Interest income	2,621	18
Interest expense	(983)	(724)
Total other income (expense), net	1,638	(706)
Net loss	(56,163)	(47,258)
Unrealized gain on marketable securities	164	0
Comprehensive loss	(55,999)	(47,258)
Net loss attributable to common stockholders — basic	(56,163)	(47,258)
Net loss attributable to common stockholders — diluted	$ (56,163)	$ (47,258)
Net loss per share attributable to common stockholders — basic (in dollars per share)	$ (0.52)	$ (0.59)
Net loss per share attributable to common stockholders — diluted (in dollars per share)	$ (0.52)	$ (0.59)
Weighted-average number of shares of common stock used in net loss per share attributable to common stockholders — basic (in shares)	107,514,655	79,928,591
Weighted-average number of shares of common stock used in net loss per share attributable to common stockholders — diluted (in shares)	107,514,655	79,928,591

MRSN Balance Sheet

2023-03-31

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 122,825	$ 128,885
Short-term marketable securities	151,094	151,827
Accounts receivable	0	30,000
Prepaid expenses and other current assets	7,888	8,507
Total current assets	281,807	319,219
Property and equipment, net	3,994	3,985
Operating lease right-of-use assets	9,806	10,475
Other assets, noncurrent	588	661
Total assets	296,195	334,340
Current liabilities:
Accounts payable	18,156	13,951
Accrued expenses	32,588	43,184
Deferred revenue	28,769	30,610
Operating lease liabilities	2,904	2,798
Other current liabilities	985	990
Total current liabilities	83,402	91,533
Operating lease liabilities, noncurrent	7,773	8,575
Long-term debt, net	25,004	24,929
Deferred revenue, noncurrent	115,582	117,043
Other liabilities, noncurrent	140	203
Total liabilities	231,901	242,283
Commitments (Note 11)
Stockholders' equity:
Preferred stock, $0.0001 par value; 25,000,000 shares authorized; 0 shares issued and outstanding at March 31, 2023 and December 31, 2022, respectively	0	0
Common stock, $0.0001 par value; 350,000,000 shares authorized; 109,061,074 and 105,144,864 shares issued and outstanding at March 31, 2023 and December 31, 2022, respectively	11	11
Additional paid-in capital	775,125	746,889
Accumulated other comprehensive income (loss)	12	(152)
Accumulated deficit	(710,854)	(654,691)
Total stockholders’ equity	64,294	92,057
Total liabilities and stockholders’ equity	$ 296,195	$ 334,340