Mersana Therapeutics, Inc. (MRSN)

Mersana Therapeutics Balance Sheet

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Cash & Equivalents	56.39	107.75	174.56	128.89	177.95	255.09
Short-Term Investments	-	26.87	34.52	151.83	-	-
Cash & Short-Term Investments	56.39	134.62	209.08	280.71	177.95	255.09
Cash Growth	-63.66%	-35.61%	-25.52%	57.75%	-30.24%	155.63%
Receivables	0.17	-	-	30	-	-
Prepaid Expenses	3.43	2.28	4.97	8.51	10.95	3.49
Total Current Assets	59.99	136.9	214.06	319.22	188.9	258.58
Property, Plant & Equipment	2.2	6.78	11.53	14.46	14.86	12.67
Other Long-Term Assets	0.5	0.98	0.48	0.66	2.36	2.15
Total Assets	62.69	144.66	226.06	334.34	206.11	273.4
Accounts Payable	2.39	4.33	7.32	13.95	12.32	8.34
Accrued Expenses	14.81	18.96	20.85	43.18	28.72	16.15
Current Portion of Long-Term Debt	-	12.5	2.08	-	-	-
Current Portion of Leases	2.29	3.9	3.4	3.04	2.54	1.53
Current Unearned Revenue	23.77	22.17	28.15	30.61	3.94	3.99
Other Current Liabilities	-	0.59	1.84	0.75	-	-
Total Current Liabilities	43.27	62.46	63.64	91.53	47.52	30
Long-Term Debt	-	10.95	23.15	24.93	24.63	4.98
Long-Term Leases	-	1.3	5.2	8.78	11.7	10.33
Long-Term Unearned Revenue	78.95	79.46	97.17	117.04	-	-
Other Long-Term Liabilities	-	-	0	-	0.53	-
Total Liabilities	122.22	154.17	189.16	242.28	84.37	45.31
Common Stock	-	0.01	0.01	0.01	0.01	0.01
Additional Paid-In Capital	891.98	886.02	863.24	746.89	572.21	508.5
Retained Earnings	-951.52	-895.55	-826.36	-654.69	-450.48	-280.42
Comprehensive Income & Other	-	0.01	0.01	-0.15	-	-
Total Common Equity	-59.54	-9.51	36.9	92.06	121.74	228.09
Shareholders' Equity	-59.54	-9.51	36.9	92.06	121.74	228.09
Total Liabilities & Equity	62.69	144.66	226.06	334.34	206.11	273.4
Total Debt	2.29	28.65	33.83	36.75	38.86	16.84
Net Cash (Debt)	54.1	105.97	175.25	243.97	139.08	238.26
Net Cash Growth	-56.25%	-39.53%	-28.17%	75.41%	-41.62%	159.92%
Net Cash Per Share	10.87	21.62	37.73	65.12	49.26	96.87
Filing Date Shares Outstanding	5	4.99	4.85	4.32	3.34	2.76
Total Common Shares Outstanding	5	4.63	4.83	4.21	2.95	2.75
Working Capital	16.72	74.45	150.42	227.69	141.38	228.58
Book Value Per Share	-11.91	-2.06	7.64	21.89	41.29	82.83
Tangible Book Value	-59.54	-9.51	36.9	92.06	121.74	228.09
Tangible Book Value Per Share	-11.91	-2.06	7.64	21.89	41.29	82.83
Machinery	-	10.29	10.7	9.78	7.74	7.48
Leasehold Improvements	-	2.21	2.21	1.94	1.91	1.89

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q