CAMBRIDGE, Mass., Aug. 06, 2024 (GLOBE NEWSWIRE) -- Mersana Therapeutics, Inc. (NASDAQ: MRSN), a clinical-stage biopharmaceutical company focused on discovering and developing a pipeline of antibody-drug conjugates (ADCs) targeting cancers in areas of high unmet medical need, today announced that it will provide business updates and report its financial results for the second quarter ended June 30, 2024 on Tuesday, August 13, 2024. The company will host a conference call and webcast at 8:00 a.m. Eastern Tim ...

CAMBRIDGE, Mass., Aug. 06, 2024 (GLOBE NEWSWIRE) -- Mersana Therapeutics, Inc. (NASDAQ: MRSN), a clinical-stage biopharmaceutical company focused on discovering and developing a pipeline of antibody-drug conjugates (ADCs) targeting cancers in areas of high unmet medical need, today announced that it will provide business updates and report its financial results for the second quarter ended June 30, 2024 on Tuesday, August 13, 2024. The company will host a conference call and webcast at 8:00 a.m. Eastern Tim ...

About Mersana Therapeutics CAMBRIDGE, Mass., May 22, 2024 (GLOBE NEWSWIRE) -- Mersana Therapeutics, Inc. (NASDAQ:MRSN), a clinical-stage biopharmaceutical company focused on discovering and developing a pipeline of antibody-drug conjugates (ADCs) targeting cancers in areas of high unmet medical need, today announced that members of management will present at the following upcoming investor conferences: Live webcasts of these events will be available on the Investors & Media section of Mersana's website at w ...

Mersana Therapeutics, Inc. (NASDAQ:MRSN) Q1 2024 Earnings Conference Call May 9, 2024 8:00 AM ET Company Participants Jason Fredette - Senior Vice President, Investor Relations & Corporate Communications Martin Huber - President & Chief Executive Officer Brian DeSchuytner - Chief Financial Officer & Chief Operating Officer Conference Call Participants Tara Bancroft - TD Cowen Kaveri Pohlman - BTIG Dylan Drakes - Leerink Partners Brian Cheng - JPMorgan Michael Schmidt - Guggenheim Asthika Goonewardene - Trui ...

Mersana Therapeutics, Inc. (MRSN) came out with a quarterly loss of $0.16 per share versus the Zacks Consensus Estimate of a loss of $0.18. This compares to loss of $0.52 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 11.11%. A quarter ago, it was expected that this company would post a loss of $0.20 per share when it actually produced a loss of $0.16, delivering a surprise of 20%.Over the last four quarters, the company has ...

Financial Performance - For the three months ended March 31, 2024, the company's net loss was $19.3 million, a decrease from $56.2 million for the same period in 2023[141] - As of March 31, 2024, the company had an accumulated deficit of $845.7 million[141] - Net loss improved by $36.9 million, from a loss of $56.2 million in Q1 2023 to a loss of $19.3 million in Q1 2024[160] - Total other income, net was consistent at $1.7 million in Q1 2024 compared to $1.6 million in Q1 2023[167] Research and Development - Total research and development costs for the three months ended March 31, 2024, were $18.7 million, down from $47.3 million in the same period of 2023[151] - External costs for the XMT-1660 program were $2.9 million for the three months ended March 31, 2024, compared to $3.5 million in 2023[151] - The company expects to incur significant research and development expenses over the next several years as it continues clinical development and manufacturing activities[155] - Research and development expenses decreased by $28.6 million, from $47.3 million in Q1 2023 to $18.7 million in Q1 2024[162] Collaboration and Revenue - The company recognized $3.2 million in collaboration revenue related to the Merck KGaA Agreement for the three months ended March 31, 2024, compared to $3.1 million in 2023[142] - Collaboration revenue increased by $1.4 million, from $7.8 million in Q1 2023 to $9.2 million in Q1 2024, primarily due to a $4.6 million increase from the Johnson & Johnson Agreement[161] - The company has entered into a global collaboration with GSK for the co-development and commercialization of XMT-2056[139] Clinical Trials - The Phase 1 clinical trial for XMT-1660 is currently enrolling patients, with initial data expected to be disclosed in the second half of 2024[136] - The FDA clinical hold on the Phase 1 trial of XMT-2056 was resolved in Q4 2023, and the trial is actively recruiting patients[136] Operational Changes - The company has discontinued the development of XMT-1536 and reduced its employee base by approximately 50% as part of a restructuring effort[138] - The company expects to incur significant general and administrative expenses over the next several years to support ongoing research and development activities[157] Cash Flow and Financial Position - Cash, cash equivalents, and marketable securities totaled $183.1 million as of March 31, 2024[173] - Net cash used in operating activities was $32.7 million in Q1 2024, compared to $29.0 million in Q1 2023[176] - Net cash used in investing activities was $72.5 million in Q1 2024, compared to net cash provided of $1.4 million in Q1 2023[177] - Net cash provided by financing activities was $5.8 million in Q1 2024, down from $21.5 million in Q1 2023[178] - As of March 31, 2024, the company had cash, cash equivalents, and marketable securities totaling $183.1 million[186] - The company had $25.0 million outstanding under the New Credit Facility as of March 31, 2024[187] - The interest rate on the New Credit Facility is a floating rate, with a minimum of 8.50% or the prime rate plus 5.25%[187] Compliance and Controls - There were no material changes to the company's contractual obligations during the three months ended March 31, 2024[184] - The company reported no material changes to its critical accounting estimates during the same period[185] - The company is not currently exposed to market risk related to foreign currency exchange rates as of March 31, 2024[188] - The company's disclosure controls and procedures were evaluated as effective at the reasonable assurance level as of March 31, 2024[190] - There were no changes in the internal control over financial reporting that materially affected the company during the quarter ended March 31, 2024[191] - The company is not currently party to any material legal proceedings[193]

May 9, 2024 Mersana may not actually achieve the plans, intentions or expectations disclosed in these forward-looking statements, and you should not place undue reliance on these forward-looking statements. Actual results or events could differ materially from the plans, intentions and expectations disclosed in these forward-looking statements as a result of various factors, including, among other things, uncertainties inherent in research and development, in the initiation and advancement of clinical trial ...

Exhibit 99.1 Mersana Therapeutics Provides Business Update and Announces First Quarter 2024 Financial Results CAMBRIDGE, Mass., May 9, 2024 – Mersana Therapeutics, Inc. (NASDAQ: MRSN), a clinical-stage biopharmaceutical company focused on discovering and developing a pipeline of antibody-drug conjugates (ADCs) targeting cancers in areas of high unmet medical need, today provided a business update and reported financial results for the first quarter ended March 31, 2024. "In recent months, we presented new p ...

CAMBRIDGE, Mass., May 03, 2024 (GLOBE NEWSWIRE) -- Mersana Therapeutics, Inc. (NASDAQ:MRSN), a clinical-stage biopharmaceutical company focused on discovering and developing a pipeline of antibody-drug conjugates (ADCs) targeting cancers in areas of high unmet medical need, today announced that on May 1, 2024, an authorized sub-committee of the Board of Directors of Mersana granted an inducement award, consisting of a restricted stock unit (RSU) award to acquire 35,100 shares of its common stock, to one new ...

CAMBRIDGE, Mass., May 02, 2024 (GLOBE NEWSWIRE) -- Mersana Therapeutics, Inc. (NASDAQ:MRSN), a clinical-stage biopharmaceutical company focused on discovering and developing a pipeline of antibody-drug conjugates (ADCs) targeting cancers in areas of high unmet medical need, today announced that it will provide business updates and report its financial results for the first quarter ended March 31, 2024 on Thursday, May 9, 2024. The company will host a conference call and webcast at 8:00 a.m. Eastern Time tha ...