Mersana Therapeutics, Inc.

MRSN

Mersana Therapeutics, Inc.

MRSN

Insider Sentiment (TTM):

Last Purchase:-Last Sale:2025-10-27Shares Purchased (TTM):0Shares Sold (TTM):2,089

Institutional Sentiment:

As of:2025-12-31Institutional Shares Owned:2,034,083Shares Outstanding:4,992,639Institutional Ownership Pct.:40.74%

Earnings Market Reaction:

Filing Date:2025-11-14Price on Filing Date:N/APrevious Close:N/A% Change:N/A

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Financial Statements

10‑Q10‑K

Values in Millions ($)	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31
Assets
Assets Current
Cash And Cash Equivalents At Carrying Value	56	77	102	108	79	59	75	175	186	129	123	129
Debt Securities Available For Sale Excluding Accru…	0	0	0	27	76	104	108	35	55	158	151	152
Accounts Receivable Net Current	0	0	-	-	1	2	-	0	0	0	0	30
Prepaid Expense And Other Assets Current	3	3	4	2	4	5	4	5	9	10	8	9
Assets Current	60	80	106	137	161	169	188	214	250	297	282	319
Property Plant And Equipment And Finance Lease Rig…	0	1	2	2	3	3	3	4	4	4	4	4
Operating Lease Right Of Use Asset	2	3	4	5	5	6	7	8	8	9	10	10
Other Assets Noncurrent	1	1	1	1	1	1	0	0	0	1	1	1
Assets	63	85	112	145	170	179	198	226	263	311	296	334
Liabilities And Stockhold…
Liabilities Current
Accounts Payable Current	2	3	4	4	2	3	3	7	13	17	18	14
Accrued Liabilities Current	15	15	13	19	19	18	16	22	29	33	33	43
Contract With Customer Liability Current	24	20	24	22	31	29	26	28	22	21	29	31
Operating Lease Liability Current	2	3	4	4	4	4	4	3	3	3	3	3
Long Term Debt Current	0	17	13	13	11	8	5	2	-	-	-	-
Short Term Borrowings	-	-	-	-	-	-	-	2	-	-	-	0
Other Liabilities Current	0	0	1	1	1	0	0	1	1	1	1	1
Liabilities Current	43	59	58	62	68	62	53	64	68	75	83	92
Operating Lease Liability Noncurrent	0	0	0	1	2	3	4	5	6	7	8	9
Long Term Debt	-	-	-	-	-	-	20	-	25	25	25	-
Long Term Debt Noncurrent	0	0	8	11	14	17	-	23	-	-	-	25
Contract With Customer Liability Noncurrent	79	78	77	79	84	88	92	97	112	114	116	117
Other Liabilities Noncurrent	0	0	0	0	0	1	1	0	0	0	0	0
Liabilities	122	138	143	154	168	171	170	189	211	221	232	242
Preferred Stock Value	0	0	0	0	0	0	0	0	0	0	0	0
Common Stock Value	0	0	0	0	0	0	0	0	0	0	0	0
Additional Paid In Capital Common Stock	892	891	889	886	882	878	874	863	859	855	775	747
Accumulated Other Comprehensive Income Loss Net Of…	0	0	0	0	0	-0	-0	0	0	-0	0	-0
Retained Earnings Accumulated Deficit	-952	-944	-920	-896	-881	-870	-846	-826	-807	-765	-711	-655
Stockholders Equity	-60	-53	-31	-10	1	8	28	37	52	90	64	92
Liabilities And Stockholders Equity	63	85	112	145	170	179	198	226	263	311	296	334
Stockholders Equity
Preferred Stock Par Or Stated Value Per Share	0	0	0	0	0	0	0	0	0	0	0	0
Preferred Stock Shares Authorized	25	25	25	25	25	25	25	25	25	25	25	25
Preferred Stock Shares Issued	0	0	0	0	0	0	0	0	0	0	0	0
Preferred Stock Shares Outstanding	0	0	0	0	0	0	0	0	0	0	0	0
Common Stock Par Or Stated Value Per Share	0	0	0	0	0	0	0	0	0	0	0	0
Common Stock Shares Authorized	350	350	350	350	350	350	350	350	350	350	-	350
Common Stock Shares Issued	5	5	5	5	5	5	5	5	5	5	4	4
Shares Outstanding	5	5	5	5	5	5	5	5	5	5	4	4

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10‑Q10‑K

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Interactive Financial Visualizations

10‑Q10‑K

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Earnings Market Reaction

10‑Q10‑K

Fiscal Year	Q1 1 Month	Q1 2 Month	Q1 3 Month	Q2 1 Month	Q2 2 Month	Q2 3 Month	Q3 1 Month	Q3 2 Month	Q3 3 Month	Q4 1 Month	Q4 2 Month	Q4 3 Month
2025	22.70%	-7.95%	-16.06%	0.15%	21.59%	40.68%	-0.52%	4.01%	-	-	-	-
2024	-5.48%	-18.46%	-14.81%	0.00%	57.04%	34.81%	-3.80%	-47.15%	-76.85%	-20.94%	-24.19%	-26.60%
2023	-3.00%	-58.88%	-84.25%	-2.44%	3.25%	-5.69%	41.79%	73.13%	140.30%	-3.09%	-32.99%	-43.71%
2022	-	-	-	-	-	-	-	-	-	-31.85%	-29.70%	27.56%
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Performance and Valuation Metrics

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Metrics	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31
Liquidity Ratios
Current Ratio	1.39	1.35	1.83	2.19	2.35	2.72	3.51	3.36	3.68	3.97	3.38	3.49
Quick Ratio	1.31	1.30	1.76	2.16	2.29	2.64	3.43	3.29	3.55	3.83	3.28	3.39
Working Capital	16.72M	20.80M	48.03M	74.45M	92.26M	106.78M	134.13M	150.42M	181.81M	222.17M	198.41M	227.69M
Leverage & Debt
Debt to Equity	-2.05	-2.59	-4.64	-16.21	160.61	20.26	6.09	5.13	4.04	2.46	3.61	2.63
Interest Coverage TTM	-26.52	-23.31	-21.41	-18.97	-19.67	-26.87	-33.95	-43.15	-50.40	-56.87	-60.41	-62.36
Debt Ratio	1.95	1.63	1.27	1.07	0.99	0.95	0.86	0.84	0.80	0.71	0.78	0.72
Efficiency & Turnover
Asset Turnover TTM	0.29	0.26	0.22	0.22	0.16	0.12	0.15	0.13	0.14	0.14	0.12	0.10
Days Sales Outstanding TTM	6.42	9.64	-	-	10.48	19.14	-	-	-	-	-	411.95
Receivables Turnover TTM	56.82	37.87	-	-	34.84	19.07	-	-	-	-	-	0.89
Per Share Metrics
Diluted EPS TTM	-14.04	-14.85	-14.87	-14.12	-15.20	-21.39	-27.76	-36.96	-40.87	-46.54	-49.56	-54.51
Free Cash Flow Per Share TTM	-14.90	-15.99	-15.87	-16.83	-19.47	-27.27	-35.81	-36.83	-39.56	-19.46	-17.02	-13.76
Dividend Per Share TTM	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Margin Metrics
Gross Profit Margin TTM	-	-	-	-	-	-	110.68%	111.05%	109.77%	109.95%	111.09%	112.52%
Operating Profit Margin TTM	-196.61%	-197.80%	-202.24%	-169.82%	-405.02%	-573.44%	-448.25%	-465.80%	-101.99%	0.00%	0.00%	0.00%
Net Profit Margin TTM	-211.21%	-212.94%	-217.64%	-170.86%	-214.19%	-349.98%	-352.01%	-465.80%	-482.47%	-555.84%	-658.85%	-768.26%
Growth Metrics
Net Revenue Growth (1Y)	-4.76%	16.14%	-11.21%	9.88%	-14.70%	-22.68%	18.40%	38.65%	243.12%	510.58%	1,464.17%	61,716.28%
Net Income Growth (1Y)	-6.08%	-29.34%	-45.10%	-59.69%	-62.13%	-51.31%	-36.74%	-15.94%	-5.39%	10.97%	16.70%	20.08%
EPS Growth (1Y)	-7.66%	-30.60%	-46.44%	-61.81%	-62.81%	-54.03%	-43.99%	-32.20%	-23.35%	-8.09%	-13.25%	-9.50%
Calculated Values
Free Cash Flow TTM	-74.37M	-79.76M	-79.01M	-82.47M	-95.57M	-133.55M	-173.92M	-171.05M	-190.72M	-89.99M	-73.19M	-51.56M
Net Debt	-56.87M	-60.10M	-82.36M	-84.78M	-53.89M	-34.09M	-55.57M	-147.73M	-161.61M	-104.13M	-98.30M	-104.43M
Per-Share and Margin
EPS TTM
Adjusted EPS TTM
Cash Flow Per Share TTM
Pretax Margin TTM
Stock Comp to Revenue TTM
Turnover Ratios and Averages
Average Assets
Average Equity
Average Inventory
Average Receivables
Average Accounts Payables
Inventory Turnover TTM
Payables Turnover TTM
Days Inventory Outstanding TTM
Days Payables Outstanding TTM
Cash Conversion Cycle TTM
Working Capital to Revenue
Deferred Revenue to Revenue
Growth Rates
Total Assets Growth (1Y)
Total Assets Growth (3Y)
Total Assets Growth (5Y)
Dividends Paid Growth (1Y)
Dividends Paid Growth (3Y)
Dividends Paid Growth (5Y)
EPS Growth (3Y)
EPS Growth (5Y)
Net Income Growth (3Y)
Net Income Growth (5Y)
Net Profit Margin Growth (1Y)
Net Profit Margin Growth (3Y)
Net Profit Margin Growth (5Y)
Net Revenue Growth (3Y)
Net Revenue Growth (5Y)
Deferred Revenue Growth (1Y)
Retained Earnings Growth (1Y)
Credit, Liquidity, Returns, Payout
Cash Ratio
Net Working Capital
Debt to EBITDA TTM
Net Debt to EBITDA TTM
Net Debt to Equity
Altman A
Altman B
Altman C
Altman D
Altman E
Altman Z-Score
ROA TTM
ROE TTM
NOPAT TTM
ROIC TTM
Effective Tax Rate TTM
Payout Ratio TTM
Dilution Ratio
Retained Earnings to Equity
Treasury Stock to Equity
Treasury Stock Change (1Y)
Accrued to Current Liabilities
NCAV
NCAV Per Share TTM
Valuation Ratios
P/CF TTM
PEG Ratio
Dividend Yield TTM
Free Cash Flow Yield TTM
EV EBITDA TTM
EV EBIT TTM
EV Revenue TTM
EV FCF TTM
Stock Compensation TTM
Adjusted Net Income TTM
Billings TTM
Total Debt
Invested Capital

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Insider Transactions

2025-10-27Sale

Owner: Bala, Mohan

Title: SVP, Chief Development Officer

Shares: 77

Price/Share: $9.90

Value: $762.30

Shares Owned: 2,922

Relationship: Officer

Ownership: Direct

2025-09-12Sale

Owner: Huber, Martin H. Jr.

Title: President, CEO

Shares: 2,012

Price/Share: $7.31

Value: $14,707.72

Shares Owned: 9,572

Relationship: Director,Officer

Ownership: Direct

2025-01-16Sale

Owner: Mandelia, Ashish

Title: VP, Chief Accounting Officer

Shares: 3,554

Price/Share: $0.58

Value: $2,061.32

Shares Owned: 57,519

Relationship: Officer

Ownership: Direct

2025-01-16Sale

Owner: Bala, Mohan

Title: SVP, Chief Development Officer

Shares: 5,939

Price/Share: $0.58

Value: $3,444.62

Shares Owned: 68,872

Relationship: Officer

Ownership: Direct

2025-01-16Sale

Owner: Protopapas, Anna

Title: -

Shares: 8,637

Price/Share: $0.58

Value: $5,009.46

Shares Owned: 168,041

Relationship: Director

Ownership: Direct

Filed Date	Owner	Relationship	Title	Ownership	Purchase/Sale	No. Shares	Price Per Share	Value	Shares Owned	Document Type
2025-10-27	Bala, Mohan	Officer	SVP, Chief Development Officer	Direct	Sale	77	9.90	$762.30	2,922	4
2025-09-12	Huber, Martin H. Jr.	Director,Officer	President, CEO	Direct	Sale	2,012	7.31	$14,707.72	9,572	4
2025-01-16	Mandelia, Ashish	Officer	VP, Chief Accounting Officer	Direct	Sale	3,554	0.58	$2,061.32	57,519	4
2025-01-16	Bala, Mohan	Officer	SVP, Chief Development Officer	Direct	Sale	5,939	0.58	$3,444.62	68,872	4
2025-01-16	Protopapas, Anna	Director	-	Direct	Sale	8,637	0.58	$5,009.46	168,041	4
2025-01-16	Deschuytner, Brian	Officer	SVP, COO & CFO	Direct	Sale	8,470	0.58	$4,912.60	121,393	4
2025-01-16	Huber, Martin H. Jr.	Director,Officer	President, CEO	Direct	Sale	4,514	0.58	$2,618.12	122,875	4
2025-01-16	Carvajal, Alejandra	Officer	SVP, Chief Legal Officer	Direct	Sale	5,096	0.58	$2,955.68	78,296	4
2025-01-16	Lowinger, Timothy B	Officer	SVP, Chief Sci.&Tech. Officer	Direct	Sale	8,048	0.58	$4,667.84	257,673	4
2025-01-15	Mandelia, Ashish	Officer	VP, Chief Accounting Officer	Direct	Sale	1,791	0.63	$1,128.33	52,388	4
2025-01-15	Lowinger, Timothy B	Officer	SVP, Chief Sci.&Tech. Officer	Direct	Sale	1,794	0.63	$1,130.22	245,930	4
2025-01-15	Carvajal, Alejandra	Officer	SVP, Chief Legal Officer	Direct	Sale	952	0.63	$599.76	70,892	4
2025-01-15	Deschuytner, Brian	Officer	SVP, COO & CFO	Direct	Sale	2,331	0.63	$1,468.53	109,030	4
2025-01-15	Protopapas, Anna	Director	-	Direct	Sale	6,191	0.63	$3,900.33	155,428	4
2025-01-14	Lowinger, Timothy B	Officer	SVP, Chief Sci.&Tech. Officer	Direct	Sale	3,483	0.66	$2,298.78	242,932	4
2025-01-14	Deschuytner, Brian	Officer	SVP, COO & CFO	Direct	Sale	3,713	0.66	$2,450.58	105,111	4
2025-01-14	Protopapas, Anna	Director	-	Direct	Sale	11,534	0.66	$7,612.44	144,869	4
2025-01-14	Carvajal, Alejandra	Officer	SVP, Chief Legal Officer	Direct	Sale	3,330	0.66	$2,197.80	69,344	4
2025-01-14	Bala, Mohan	Officer	SVP, Chief Development Officer	Direct	Sale	3,253	0.66	$2,146.98	60,228	4
2025-01-14	Mandelia, Ashish	Officer	VP, Chief Accounting Officer	Direct	Sale	1,007	0.66	$664.62	49,396	4
2024-10-28	Bala, Mohan	Officer	SVP, Chief Development Officer	Direct	Sale	1,884	1.90	$3,579.60	54,731	4
2024-10-03	Bala, Mohan	Officer	SVP, Chief Development Officer	Direct	Sale	5,598	1.96	$10,972.08	50,365	4
2024-10-03	Lowinger, Timothy B	Officer	SVP, Chief Sci.&Tech. Officer	Direct	Sale	5,598	1.96	$10,972.08	235,642	4
2024-10-03	Mandelia, Ashish	Officer	VP, Chief Accounting Officer	Direct	Sale	3,361	1.96	$6,587.56	47,757	4
2024-10-03	Deschuytner, Brian	Officer	SVP, COO & CFO	Direct	Sale	5,598	1.96	$10,972.08	94,824	4
2024-10-03	Carvajal, Alejandra	Officer	SVP, Chief Legal Officer	Direct	Sale	5,598	1.96	$10,972.08	63,716	4
2024-09-12	Huber, Martin H. Jr.	Director,Officer	President, CEO	Direct	Sale	50,423	1.76	$88,744.48	116,327	4
2024-01-16	Misra, Tushar	Officer	SVP, Chief Manuf. Officer	Direct	Sale	3,357	2.71	$9,097.47	17,966	4
2024-01-16	Lowinger, Timothy B	Officer	SVP, Chief Sci.&Tech. Officer	Direct	Sale	10,409	2.71	$28,208.39	199,329	4
2024-01-16	Carvajal, Alejandra	Officer	SVP, Chief Legal Officer	Direct	Sale	4,381	2.71	$11,872.51	27,403	4
2024-01-16	Protopapas, Anna	Director	-	Direct	Sale	29,399	2.71	$79,671.29	125,153	4
2024-01-16	Mandelia, Ashish	Officer	VP, Chief Accounting Officer	Direct	Sale	5,025	2.71	$13,617.75	23,328	4
2024-01-16	Deschuytner, Brian	Officer	SVP, COO & CFO	Direct	Sale	9,327	2.71	$25,276.17	54,511	4
2024-01-16	Bala, Mohan	Officer	SVP, Chief Development Officer	Direct	Sale	3,431	2.71	$9,298.01	14,052	4
2023-10-26	Bala, Mohan	Officer	SVP, Chief Development Officer	Direct	Sale	1,912	1.13	$2,160.56	8,733	4
2023-08-17	Misra, Tushar	Officer	SVP, Chief Manuf. Officer	Direct	Sale	1,908	1.18	$2,251.44	11,507	4
2023-04-27	Carvajal, Alejandra	Officer	SVP, Chief Legal Officer	Direct	Sale	3,944	3.89	$15,342.16	20,326	4
2023-01-17	Carvajal, Alejandra	Officer	SVP, Chief Legal Officer	Direct	Sale	782	5.74	$4,488.68	11,020	4
2023-01-17	Lowinger, Timothy B	Officer	SVP, Chief Sci.&Tech. Off.	Direct	Sale	6,233	5.74	$35,777.42	180,363	4
2023-01-17	Protopapas, Anna	Director,Officer	President & CEO	Direct	Sale	17,346	5.74	$99,566.04	48,733	4
2023-01-17	Deschuytner, Brian	Officer	SVP, Chief Financial Officer	Direct	Sale	5,131	5.74	$29,451.94	32,781	4
2023-01-17	Mandelia, Ashish	Officer	VP, Controller	Direct	Sale	3,575	5.74	$20,520.50	13,619	4
2023-01-17	Yang, Arvin	Officer	SVP, Chief Medical Officer	Direct	Sale	2,209	5.74	$12,679.66	30,821	4
2023-01-17	Misra, Tushar	Officer	SVP, CMO	Direct	Sale	458	5.74	$2,628.92	5,930	4
2022-12-01	Yang, Arvin	Officer	Chief Medical Officer	Direct	Sale	5,527	6.59	$36,422.93	25,946	4
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Institutional Ownership

No data available for chart

2025-12-31

40.74%

Inst. Shares: 2,034,083

Shares Outstanding: 4,992,639

2025-09-30

59.75%

Inst. Shares: 2,983,112

Shares Outstanding: 4,992,639

2025-06-30

58.86%

Inst. Shares: 2,935,456

Shares Outstanding: 4,986,784

2025-03-31

67.75%

Inst. Shares: 3,372,938

Shares Outstanding: 4,978,645

2024-12-31

84.14%

Inst. Shares: 4,124,302

Shares Outstanding: 4,901,584

Date	Institutional Shares Owned	Shares Outstanding	Institutional Ownership %
2025-12-31	2,034,083	4,992,639	40.74%
2025-09-30	2,983,112	4,992,639	59.75%
2025-06-30	2,935,456	4,986,784	58.86%
2025-03-31	3,372,938	4,978,645	67.75%
2024-12-31	4,124,302	4,901,584	84.14%
2024-09-30	4,596,467	4,908,903	93.64%
2024-06-30	4,517,648	4,897,643	92.24%
2024-03-31	4,598,968	4,856,998	94.69%
2023-12-31	4,471,928	4,644,516	96.28%
2023-09-30	4,462,097	4,820,879	92.56%
2023-06-30	4,245,953	4,624,326	91.82%
2023-03-31	3,619,652	4,300,586	84.17%
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Mersana Therapeutics, Inc. (MRSN) — SEC Financial Statements & Analysis

Mersana Therapeutics, Inc. (MRSN) is a pharmaceutical preparations company, incorporated in DE. Mersana Therapeutics, Inc. trades on Nasdaq as: MRSN. Based on its latest SEC filing (Form 10-Q, period ending 2025-09-30), Mersana Therapeutics, Inc. reported a -4.76% year-over-year revenue growth, a Gross Profit Margin of 110.68% (TTM), a Debt-to-Equity ratio of -2.05x. Figures below are sourced from SEC EDGAR, as-filed.

Net Revenue TTM Growth 1Y: -4.76%
Gross Profit Margin TTM: 110.68%
Debt To Equity: -2.05x

Data as of 2025-09-30 · Source: SEC EDGAR

Frequently Asked Questions

What industry is Mersana Therapeutics, Inc. in?

Mersana Therapeutics, Inc. (MRSN) operates in the Pharmaceutical Preparations industry.

What exchange does MRSN trade on?

Mersana Therapeutics, Inc. (MRSN) trades on the Nasdaq.

Where is Mersana Therapeutics, Inc. incorporated?

Mersana Therapeutics, Inc. is incorporated in DE.