Mersana Therapeutics, Inc. (MRSN) Stock

About Mersana Therapeutics, Inc.

Mersana Therapeutics, Inc. is a clinical-stage biopharmaceutical company dedicated to pioneering novel antibody-drug conjugates (ADCs) for cancer patients with pressing unmet medical needs. Their flagship product candidate, XMT-1592, a Dolasynthen ADC engineered to target NaPi2b-expressing tumor cells, is presently undergoing Phase I clinical evaluation for the treatment of ovarian cancer and NSCLC adenocarcinoma. The company's development pipeline also includes XMT-1660, a B7-H4-targeted Dolasynthen ADC candidate, and XMT-2056, an Immunosynthen development candidate. Additionally, Mersana maintains strategic research and development collaborations with Merck KGaA and Asana BioSciences, LLC for the creation of ADC product candidates, leveraging its Fleximer technology. Incorporated in 2001, the company initially operated as Nanopharma Corp. before rebranding as Mersana Therapeutics, Inc. in November 2005, and is headquartered in Cambridge, Massachusetts.

Mersana Therapeutics, Inc. is headquartered in US.

Mersana Therapeutics, Inc. (MRSN) stock trades at $29.08 with a market capitalization of $145.36M. The stock is valued at a negative price-to-earnings (P/E) ratio of -2.59, reflecting a net loss over the last twelve months, a negative price-to-book of -2.44, reflecting negative shareholders' equity, price-to-sales of 8.64. Over the past 52 weeks the stock has ranged between $5.21 and $30.39, and currently trades 4.3% below its 52-week high.

On profitability, Mersana Therapeutics, Inc. generates a return on equity (ROE) of 116.96% (not meaningful, as shareholders' equity is negative), return on capital employed of -270.72%, an operating margin of -312.53%, a net profit margin of -332.74%.

Official website: www.mersana.com

Mersana Therapeutics, Inc. by the numbers, 2015–2024

Between 2015 and 2024 Mersana Therapeutics, Inc. reported revenue of $10.0M rising to $40.0M, a change of +300.0% across 10 years. Compounded, revenue has grown -1.0% a year over five years, —% over three, 8.1% over the last twelve months. Net profit fell to $-69.0M.

Operating margin went from -157.8% in 2015 to -181.1% in 2024, a fall of 23.3 percentage points. The most recent net margin is -332.74%. On a trailing twelve-month basis to Sep '25, revenue is $33.0M and net profit $-70.0M.

Borrowings stand at $29.0M, cash on hand is $56.4M, cash from operations was $-82.0M in the latest year, positive in 1 of the last 10.

Return on equity has averaged -34.9% over five years, and was 690.0% in the most recent year.

The share price itself has compounded at —% a year over five years, —% over three, —% over the last year. Past price movement is history, not a forecast.

Figures are as reported and in the company's own reporting currency. They describe what has already happened and carry no implication about what follows.

Mersana Therapeutics, Inc. (MRSN) — frequently asked questions