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	Jun 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Cash & Equivalents	76.97	107.75	174.56	128.89	177.95	255.09
Short-Term Investments	-	26.87	34.52	151.83	-	-
Cash & Short-Term Investments	76.97	134.62	209.08	280.71	177.95	255.09
Cash Growth	-52.70%	-35.61%	-25.52%	57.75%	-30.24%	155.63%
Receivables	0.27	-	-	30	-	-
Prepaid Expenses	2.9	2.28	4.97	8.51	10.95	3.49
Total Current Assets	80.14	136.9	214.06	319.22	188.9	258.58
Property, Plant & Equipment	3.93	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	84.57	144.66	226.06	334.34	206.11	273.4
Accounts Payable	2.92	4.33	7.32	13.95	12.32	8.34
Accrued Expenses	13.62	18.96	20.85	43.18	28.72	16.15
Current Portion of Long-Term Debt	17.35	12.5	2.08	-	-	-
Current Portion of Leases	3.27	3.9	3.4	3.04	2.54	1.53
Current Unearned Revenue	20.18	22.17	28.15	30.61	3.94	3.99
Other Current Liabilities	1.99	0.59	1.84	0.75	-	-
Total Current Liabilities	59.34	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	78.38	79.46	97.17	117.04	-	-
Other Long-Term Liabilities	-	-	0	-	0.53	-
Total Liabilities	137.72	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	890.83	886.02	863.24	746.89	572.21	508.5
Retained Earnings	-943.97	-895.55	-826.36	-654.69	-450.48	-280.42
Comprehensive Income & Other	-	0.01	0.01	-0.15	-	-
Total Common Equity	-53.15	-9.51	36.9	92.06	121.74	228.09
Shareholders' Equity	-53.15	-9.51	36.9	92.06	121.74	228.09
Total Liabilities & Equity	84.57	144.66	226.06	334.34	206.11	273.4
Total Debt	20.62	28.65	33.83	36.75	38.86	16.84
Net Cash (Debt)	56.35	105.97	175.25	243.97	139.08	238.26
Net Cash Growth	-56.59%	-39.53%	-28.17%	75.41%	-41.62%	159.92%
Net Cash Per Share	11.37	21.62	37.73	65.12	49.26	96.87
Filing Date Shares Outstanding	4.99	4.99	4.85	4.32	3.34	2.76
Total Common Shares Outstanding	4.99	4.63	4.83	4.21	2.95	2.75
Working Capital	20.8	74.45	150.42	227.69	141.38	228.58
Book Value Per Share	-10.65	-2.06	7.64	21.89	41.29	82.83
Tangible Book Value	-53.15	-9.51	36.9	92.06	121.74	228.09
Tangible Book Value Per Share	-10.65	-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 Aug 13, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q