Symbols / MRSN
MRSN Chart
About
Mersana Therapeutics, Inc., a clinical-stage biopharmaceutical company, develops antibody-drug conjugates (ADC) for cancer patients with unmet needs. The company develops Emi-Le (XMT-1660), a B7-H4-targeting Dolasynthen ADC candidate, which is in Phase 1 clinical trial; and XMT-2056, an Immunosynthen ADC targeting a novel human epidermal growth factor receptor 2 that is in Phase 1 clinical trial. Its preclinical products portfolio includes XMT-2068 and XMT-2175. It has strategic research and development collaborations with Janssen Biotech, Inc., Ares Trading S.A., Merck KGaA, and Asana Biosciences, LLC for the development of ADC product candidates. 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. As of January 6, 2026, Mersana Therapeutics, Inc. operates as a subsidiary of Day One Biopharmaceuticals, Inc.
Fundamentals
Scroll to Statements| Sector | Healthcare | Industry | Biotechnology | Market Cap | 145.36M |
| Enterprise Value | 91.27M | Income | -70.08M | Sales | 33.18M |
| Book/sh | -11.91 | Cash/sh | 11.28 | Dividend Yield | — |
| Payout | 0.00% | Employees | 102 | IPO | Jun 28, 2017 |
| P/E | — | Forward P/E | -2.62 | PEG | — |
| P/S | 4.38 | P/B | — | P/C | — |
| EV/EBITDA | -1.38 | EV/Sales | 2.75 | Quick Ratio | 1.31 |
| Current Ratio | 1.39 | Debt/Eq | — | LT Debt/Eq | — |
| EPS (ttm) | -13.95 | EPS next Y | -11.11 | EPS Growth | — |
| Revenue Growth | -12.60% | Earnings | 2026-03-03 | ROA | -36.27% |
| ROE | — | ROIC | — | Gross Margin | -108.04% |
| Oper. Margin | -67.91% | Profit Margin | -211.22% | Shs Outstand | 5.00M |
| Shs Float | 3.53M | Short Float | 1.19% | Short Ratio | 0.79 |
| Short Interest | — | 52W High | 30.39 | 52W Low | 5.21 |
| Beta | 0.43 | Avg Volume | 141.82K | Volume | 624.02K |
| Target Price | $30.75 | Recom | Hold | Prev Close | $29.08 |
| Price | $29.08 | Change | 0.00% |
Valuation Models
Price estimates from analyst targets and simple models.
1. Analyst consensus
$30.75
Mean price target
2. Current target
$29.08
Latest analyst target
3. DCF / Fair value
$-157.72
Simplified: (Free Cash Flow ÷ Shares) × 18 (P/FCF multiple). Not a …
Ratings
Current target
$29.08
Low
$30.75
High
$30.75
Mean
$30.75
Latest analyst rating changes
| Date | Action | Analyst | Rating Change | Price Target |
|---|---|---|---|---|
| 2025-11-14 | down | Guggenheim | Buy → Neutral | — |
| 2025-11-13 | down | Truist Securities | Buy → Hold | $31 |
| 2025-11-13 | down | BTIG | Buy → Neutral | — |
| 2025-08-14 | main | Truist Securities | Buy → Buy | $36 |
| 2025-08-14 | main | Guggenheim | Buy → Buy | $30 |
| 2025-05-16 | main | Truist Securities | Buy → Buy | $10 |
| 2025-05-16 | reit | Guggenheim | Buy → Buy | $5 |
| 2025-02-06 | init | William Blair | — → Outperform | — |
| 2024-08-27 | main | Citigroup | Buy → Buy | $5 |
| 2024-08-14 | main | Baird | Neutral → Neutral | $3 |
| 2024-03-19 | up | JP Morgan | Underweight → Neutral | $5 |
| 2024-02-29 | up | Wedbush | Neutral → Outperform | $7 |
| 2024-02-29 | up | Truist Securities | Hold → Buy | $9 |
| 2024-02-29 | main | Baird | Neutral → Neutral | $5 |
| 2024-02-29 | up | Guggenheim | Neutral → Buy | $7 |
| 2023-12-04 | up | Citigroup | Neutral → Buy | $5 |
| 2023-07-28 | down | Citigroup | Buy → Neutral | $1 |
| 2023-07-28 | down | Baird | Outperform → Neutral | $1 |
| 2023-07-27 | down | Wedbush | Outperform → Neutral | $2 |
| 2023-07-27 | down | Truist Securities | Buy → Hold | — |
- $MRSN stock is up 214% today. Here's what we see in our data. - Quiver Quantitative hu, 13 Nov 2025 08
- Mersana Therapeutics Catapults 200% On Day One Bio's Surprise Buyout - Investor's Business Daily hu, 13 Nov 2025 08
- Wall Street Analysts See a 314.81% Upside in Mersana Therapeutics (MRSN): Can the Stock Really Move This High? - Yahoo Finance Mon, 08 Sep 2025 07
- MRSN Stock Soars Over 200% Pre-Market After Day One Acquisition Deal - Stocktwits hu, 13 Nov 2025 08
- Mersana Therapeutics (NASDAQ: MRSN) to host Nov. 14 results call at 8:00 a.m. ET - Stock Titan Mon, 10 Nov 2025 08
- Rainbows and Unicorns: Mersana Therapeutics, Inc. (NASDAQ:MRSN) Analysts Just Became A Lot More Optimistic - simplywall.st Fri, 15 Aug 2025 07
- Why Is Mersana Therapeutics Stock (MRSN) Up Today? - TipRanks hu, 13 Nov 2025 08
- Day One to buy Mersana Therapeutics for $25/share upfront (DAWN:NASDAQ) - Seeking Alpha hu, 13 Nov 2025 08
- Day One Biopharmaceuticals to Acquire Mersana Therapeutics - GlobeNewswire hu, 13 Nov 2025 08
- Mersana Therapeutics stock soars 200% after Day One acquisition offer - Investing.com hu, 13 Nov 2025 08
- Mersana Therapeutics (MRSN) Downgraded by BTIG to Neutral | MRSN Stock News - GuruFocus hu, 13 Nov 2025 08
- How Low Can Mersana Therapeutics Stock Really Go? - Trefis Mon, 22 Dec 2025 08
- Why Is Mersana (MRSN) Up 200% in Premarket? Day One Biopharma Agrees to $25/Share Buyout - Tokenist hu, 13 Nov 2025 08
- How The Day One Deal Is Reshaping The Story For Mersana Therapeutics (MRSN) - Yahoo Finance hu, 08 Jan 2026 08
- Mersana Therapeutics, Inc. (NASDAQ:MRSN) Surges 26% Yet Its Low P/S Is No Reason For Excitement - simplywall.st Sat, 11 Oct 2025 07
Insider Transactions
| Date | Shares | Value | Url | Text | Insider | Position | Transaction | Start Date | Ownership |
|---|---|---|---|---|---|---|---|---|---|
| 0 | 77 | 762.0 | — | Sale at price 9.90 per share. | BALA MOHAN | Officer | — | 2025-10-27 00:00:00 | D |
| 1 | 250 | nan | — | — | BALA MOHAN | Officer | — | 2025-10-24 00:00:00 | D |
| 2 | 2012 | 14708.0 | — | Sale at price 7.31 per share. | HUBER MARTIN H JR | Chief Executive Officer | — | 2025-09-12 00:00:00 | D |
| 3 | 6670 | nan | — | — | HUBER MARTIN H JR | Chief Executive Officer | — | 2025-09-11 00:00:00 | D |
| 4 | 8048 | 4668.0 | — | Sale at price 0.58 per share. | LOWINGER TIMOTHY B | Officer | — | 2025-01-16 00:00:00 | D |
| 5 | 8470 | 4913.0 | — | Sale at price 0.58 per share. | DESCHUYTNER BRIAN | Chief Operating Officer | — | 2025-01-16 00:00:00 | D |
| 6 | 3554 | 2061.0 | — | Sale at price 0.58 per share. | MANDELIA ASHISH | Officer | — | 2025-01-16 00:00:00 | D |
| 7 | 5939 | 3445.0 | — | Sale at price 0.58 per share. | BALA MOHAN | Officer | — | 2025-01-16 00:00:00 | D |
| 8 | 8637 | 5009.0 | — | Sale at price 0.58 per share. | PROTOPAPAS ANNA | Director | — | 2025-01-16 00:00:00 | D |
| 9 | 5096 | 2956.0 | — | Sale at price 0.58 per share. | CARVAJAL ALEJANDRA V. | Officer | — | 2025-01-16 00:00:00 | D |
Financials
| Line Item | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| TaxEffectOfUnusualItems | 0.00 | 0.00 | 0.00 | 0.00 |
| TaxRateForCalcs | 0.21 | 0.00 | 0.00 | 0.00 |
| NormalizedEBITDA | -63.27M | -157.37M | -199.96M | -167.94M |
| TotalUnusualItems | 0.00 | -8.71M | 0.00 | 0.00 |
| TotalUnusualItemsExcludingGoodwill | 0.00 | -8.71M | 0.00 | 0.00 |
| NetIncomeFromContinuingOperationNetMinorityInterest | -69.19M | -171.67M | -204.21M | -170.06M |
| ReconciledDepreciation | 1.63M | 1.52M | 927.00K | 855.00K |
| EBITDA | -63.27M | -166.08M | -199.96M | -167.94M |
| EBIT | -64.90M | -167.60M | -200.88M | -168.79M |
| NetInterestIncome | 4.56M | 8.00M | -445.00K | -1.20M |
| InterestExpense | 3.87M | 4.07M | 3.33M | 1.27M |
| InterestIncome | 8.44M | 12.07M | 2.88M | 65.00K |
| NormalizedIncome | -69.19M | -162.96M | -204.21M | -170.06M |
| NetIncomeFromContinuingAndDiscontinuedOperation | -69.19M | -171.67M | -204.21M | -170.06M |
| TotalExpenses | 113.83M | 207.81M | 230.35M | 168.90M |
| DilutedAverageShares | 4.90M | 4.64M | 3.75M | 2.82M |
| BasicAverageShares | 4.90M | 4.64M | 3.75M | 2.82M |
| DilutedEPS | -14.00 | -37.00 | -54.50 | -60.25 |
| BasicEPS | -14.00 | -37.00 | -54.50 | -60.25 |
| DilutedNIAvailtoComStockholders | -69.19M | -171.67M | -204.21M | -170.06M |
| NetIncomeCommonStockholders | -69.19M | -171.67M | -204.21M | -170.06M |
| NetIncome | -69.19M | -171.67M | -204.21M | -170.06M |
| NetIncomeIncludingNoncontrollingInterests | -69.19M | -171.67M | -204.21M | -170.06M |
| NetIncomeContinuousOperations | -69.19M | -171.67M | -204.21M | -170.06M |
| TaxProvision | 418.00K | 0.00 | 0.00 | |
| PretaxIncome | -68.77M | -171.67M | -204.21M | -170.06M |
| OtherIncomeExpense | -8.71M | |||
| SpecialIncomeCharges | 0.00 | -8.71M | 0.00 | 0.00 |
| RestructuringAndMergernAcquisition | 0.00 | 8.71M | 0.00 | 0.00 |
| NetNonOperatingInterestIncomeExpense | 4.56M | 8.00M | -445.00K | -1.20M |
| InterestExpenseNonOperating | 3.87M | 4.07M | 3.33M | 1.27M |
| InterestIncomeNonOperating | 8.44M | 12.07M | 2.88M | 65.00K |
| OperatingIncome | -73.34M | -170.96M | -203.77M | -168.86M |
| OperatingExpense | 113.83M | 207.81M | 230.35M | 168.90M |
| ResearchAndDevelopment | 73.02M | 148.27M | 173.38M | 132.01M |
| SellingGeneralAndAdministration | 40.81M | 59.54M | 56.96M | 36.89M |
| GeneralAndAdministrativeExpense | 40.81M | 59.54M | 56.96M | 36.89M |
| OtherGandA | 40.81M | 59.54M | 56.96M | 36.89M |
| TotalRevenue | 40.50M | 36.85M | 26.58M | 43.00K |
| OperatingRevenue | 40.50M | 36.85M | 26.58M | 43.00K |
| Line Item | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| OrdinarySharesNumber | 4.63M | 4.83M | 4.21M | 2.95M |
| ShareIssued | 4.63M | 4.83M | 4.21M | 2.95M |
| TotalDebt | 28.60M | 33.63M | 36.30M | 38.18M |
| TangibleBookValue | -9.51M | 36.90M | 92.06M | 121.74M |
| InvestedCapital | 13.94M | 62.13M | 116.99M | 146.37M |
| WorkingCapital | 74.45M | 150.42M | 227.69M | 141.38M |
| NetTangibleAssets | -9.51M | 36.90M | 92.06M | 121.74M |
| CapitalLeaseObligations | 5.15M | 8.40M | 11.37M | 13.55M |
| CommonStockEquity | -9.51M | 36.90M | 92.06M | 121.74M |
| TotalCapitalization | 1.44M | 60.05M | 116.99M | 146.37M |
| TotalEquityGrossMinorityInterest | -9.51M | 36.90M | 92.06M | 121.74M |
| StockholdersEquity | -9.51M | 36.90M | 92.06M | 121.74M |
| GainsLossesNotAffectingRetainedEarnings | 10.00K | 11.00K | -152.00K | 0.00 |
| OtherEquityAdjustments | 10.00K | 11.00K | -152.00K | |
| RetainedEarnings | -895.55M | -826.36M | -654.69M | -450.48M |
| AdditionalPaidInCapital | 886.02M | 863.24M | 746.89M | 572.21M |
| CapitalStock | 12.00K | 12.00K | 11.00K | 7.00K |
| CommonStock | 12.00K | 12.00K | 11.00K | 7.00K |
| PreferredStock | 0.00 | 0.00 | 0.00 | 0.00 |
| TotalLiabilitiesNetMinorityInterest | 154.17M | 189.16M | 242.28M | 84.37M |
| TotalNonCurrentLiabilitiesNetMinorityInterest | 91.71M | 125.52M | 150.75M | 36.85M |
| OtherNonCurrentLiabilities | 8.00K | 55.00K | 203.00K | 974.00K |
| NonCurrentDeferredLiabilities | 79.46M | 97.17M | 117.04M | 0.00 |
| NonCurrentDeferredRevenue | 79.46M | 97.17M | 117.04M | 0.00 |
| LongTermDebtAndCapitalLeaseObligation | 12.24M | 28.30M | 33.50M | 35.87M |
| LongTermCapitalLeaseObligation | 1.29M | 5.15M | 8.57M | 11.25M |
| LongTermDebt | 10.95M | 23.15M | 24.93M | 24.63M |
| CurrentLiabilities | 62.46M | 63.64M | 91.53M | 47.52M |
| OtherCurrentLiabilities | 640.00K | 938.00K | 990.00K | 239.00K |
| CurrentDeferredLiabilities | 22.17M | 28.15M | 30.61M | 3.94M |
| CurrentDeferredRevenue | 22.17M | 28.15M | 30.61M | 3.94M |
| CurrentDebtAndCapitalLeaseObligation | 16.36M | 5.33M | 2.80M | 2.30M |
| CurrentCapitalLeaseObligation | 3.86M | 3.25M | 2.80M | 2.30M |
| CurrentDebt | 12.50M | 2.08M | ||
| OtherCurrentBorrowings | 12.50M | 2.08M | ||
| PayablesAndAccruedExpenses | 23.29M | 29.22M | 57.13M | 41.04M |
| CurrentAccruedExpenses | 18.96M | 21.90M | 43.18M | 28.72M |
| Payables | 4.33M | 7.32M | 13.95M | 12.32M |
| AccountsPayable | 4.33M | 7.32M | 13.95M | 12.32M |
| TotalAssets | 144.66M | 226.06M | 334.34M | 206.11M |
| TotalNonCurrentAssets | 7.76M | 12.00M | 15.12M | 17.21M |
| OtherNonCurrentAssets | 978.00K | 478.00K | 661.00K | 2.36M |
| NetPPE | 6.78M | 11.53M | 14.46M | 14.86M |
| AccumulatedDepreciation | -10.29M | -9.07M | -7.74M | -7.68M |
| GrossPPE | 17.07M | 20.59M | 22.20M | 22.54M |
| Leases | 2.21M | 2.21M | 1.94M | 1.91M |
| OtherProperties | 12.41M | 15.94M | 18.43M | 19.61M |
| MachineryFurnitureEquipment | 2.45M | 2.45M | 1.82M | 1.02M |
| Properties | 0.00 | 0.00 | 0.00 | 0.00 |
| CurrentAssets | 136.90M | 214.06M | 319.22M | 188.90M |
| OtherCurrentAssets | 2.28M | 4.97M | 8.51M | 10.95M |
| PrepaidAssets | 10.95M | |||
| Receivables | 0.00 | 30.00M | 0.00 | |
| AccountsReceivable | 0.00 | 30.00M | 0.00 | |
| CashCashEquivalentsAndShortTermInvestments | 134.62M | 209.08M | 280.71M | 177.95M |
| OtherShortTermInvestments | 26.87M | 34.52M | 151.83M | 0.00 |
| CashAndCashEquivalents | 107.75M | 174.56M | 128.88M | 177.95M |
| Line Item | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| FreeCashFlow | -82.47M | -171.05M | -51.56M | -140.64M |
| RepaymentOfDebt | -2.23M | -412.00K | -272.00K | -5.70M |
| IssuanceOfDebt | 24.04M | |||
| IssuanceOfCapitalStock | 5.78M | 93.54M | 150.89M | 43.09M |
| CapitalExpenditure | -132.00K | -2.17M | -2.20M | -648.00K |
| InterestPaidSupplementalData | 3.47M | 3.38M | 2.46M | 429.00K |
| IncomeTaxPaidSupplementalData | 418.00K | 0.00 | 0.00 | |
| EndCashPosition | 108.23M | 175.04M | 129.36M | 178.43M |
| BeginningCashPosition | 175.04M | 129.36M | 178.43M | 255.41M |
| ChangesInCash | -66.81M | 45.68M | -49.06M | -76.99M |
| FinancingCashFlow | 4.09M | 94.67M | 153.02M | 63.65M |
| CashFlowFromContinuingFinancingActivities | 4.09M | 94.67M | 153.02M | 63.65M |
| NetOtherFinancingCharges | -259.00K | |||
| ProceedsFromStockOptionExercised | 542.00K | 1.55M | 2.40M | 2.48M |
| NetCommonStockIssuance | 5.78M | 93.54M | 150.89M | 43.09M |
| CommonStockIssuance | 5.78M | 93.54M | 150.89M | 43.09M |
| NetIssuancePaymentsOfDebt | -2.23M | -412.00K | -272.00K | 18.34M |
| NetLongTermDebtIssuance | -2.23M | -412.00K | -272.00K | 18.34M |
| LongTermDebtPayments | -2.23M | -412.00K | -272.00K | -5.70M |
| LongTermDebtIssuance | 24.04M | |||
| InvestingCashFlow | 11.44M | 119.88M | -152.72M | -648.00K |
| CashFlowFromContinuingInvestingActivities | 11.44M | 119.88M | -152.72M | -648.00K |
| NetInvestmentPurchaseAndSale | 11.57M | 122.05M | -150.52M | 0.00 |
| SaleOfInvestment | 145.00M | 277.97M | 97.00M | 0.00 |
| PurchaseOfInvestment | -133.43M | -155.92M | -247.52M | 0.00 |
| NetPPEPurchaseAndSale | -132.00K | -2.17M | -2.20M | -648.00K |
| PurchaseOfPPE | -132.00K | -2.17M | -2.20M | -648.00K |
| OperatingCashFlow | -82.34M | -168.88M | -49.36M | -139.99M |
| CashFlowFromContinuingOperatingActivities | -82.34M | -168.88M | -49.36M | -139.99M |
| ChangeInWorkingCapital | -30.74M | -18.76M | 130.32M | 10.09M |
| ChangeInOtherWorkingCapital | -23.88M | -22.14M | 143.71M | -43.00K |
| ChangeInOtherCurrentLiabilities | -3.25M | -3.14M | -1.79M | -1.30M |
| ChangeInOtherCurrentAssets | -500.00K | 0.00 | 0.00 | 1.11M |
| ChangeInPayablesAndAccruedExpense | -5.79M | -27.02M | 14.54M | 13.05M |
| ChangeInAccruedExpense | -2.93M | -20.93M | 13.59M | 12.57M |
| ChangeInPayable | -2.86M | -6.08M | 947.00K | 483.00K |
| ChangeInAccountPayable | -2.86M | -6.08M | 947.00K | 483.00K |
| ChangeInPrepaidAssets | 2.69M | 3.53M | 3.86M | -2.73M |
| ChangeInReceivables | 0.00 | 30.00M | -30.00M | 0.00 |
| ChangesInAccountReceivables | 0.00 | 30.00M | -30.00M | 0.00 |
| OtherNonCashItems | 3.42M | 3.47M | 3.54M | 723.00K |
| StockBasedCompensation | 16.46M | 21.14M | 21.52M | 18.41M |
| AmortizationOfSecurities | -3.92M | -4.57M | -1.46M | 0.00 |
| DepreciationAmortizationDepletion | 1.63M | 1.52M | 927.00K | 855.00K |
| DepreciationAndAmortization | 1.63M | 1.52M | 927.00K | 855.00K |
| Depreciation | 1.63M | 1.52M | 927.00K | 855.00K |
| NetIncomeFromContinuingOperations | -69.19M | -171.67M | -204.21M | -170.06M |
SEC Filings
No SEC filings found for this symbol (may be non-US or ticker not in SEC index).
Public Trades for MRSN
| Date | User | Asset | Broker | Type | Position Size | Entry Price | Patterns |
|---|