Mersana Therapeutics, Inc. (MRSN) quarterly balance sheet — complete assets, liabilities & equity history
| Metric | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 | Q2'21 | Q1'21 | Q4'20 |
|---|
| Total Current Assets | 59.99M | 80.14M | 106.19M | 136.9M | 160.56M | 168.96M | 187.54M | 214.06M | 249.74M | 297.09M | 281.81M | 319.22M | 300.04M | 237.08M | 241.47M | 188.9M | 199.36M | 233.43M | 231.95M | 258.58M |
| Cash & Short-Term Investments | 56.39M | 76.97M | 102.29M | 134.62M | 155.17M | 162.74M | 183.15M | 209.08M | 240.99M | 286.59M | 273.92M | 280.71M | 290.13M | 225.13M | 230.06M | 177.95M | 191.71M | 227.39M | 228.43M | 255.09M |
| Cash Only | 56.39M | 76.97M | 102.29M | 107.75M | 78.87M | 59M | 75.19M | 174.56M | 186.28M | 128.73M | 122.83M | 280.71M | 184.08M | 135.34M | 230.06M | 177.95M | 191.71M | 227.39M | 228.43M | 255.09M |
| Short-Term Investments | 0 | 0 | 0 | 26.87M | 76.3M | 103.74M | 107.96M | 34.52M | 54.7M | 157.86M | 151.09M | 0 | 106.04M | 89.79M | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 168K | 266K | 0 | 0 | 1M | 1.57M | 0 | 0 | 0 | 0 | 0 | 30M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Days Sales Outstanding | 5.57 | 31.77 | - | - | 28.97 | 249.91 | - | - | - | - | - | 745.51 | - | - | - | - | - | - | - | - |
| Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Days Inventory Outstanding | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Current Assets | 3.43M | 2.9M | 3.9M | 2.28M | 4.39M | 4.65M | 4.39M | 4.97M | 8.75M | 10.5M | 7.89M | 8.51M | 9.91M | 11.95M | 11.41M | 10.95M | 7.65M | 6.04M | 3.52M | 0 |
| Total Non-Current Assets | 2.7M | 4.43M | 6.28M | 7.76M | 8.97M | 10.16M | 10.84M | 12M | 13.17M | 13.91M | 14.39M | 15.12M | 14.81M | 15.27M | 16.8M | 17.21M | 18.23M | 20.25M | 15.96M | 14.82M |
| Property, Plant & Equipment | 2.2M | 3.93M | 5.63M | 6.78M | 8M | 9.19M | 10.36M | 11.53M | 12.69M | 13.4M | 13.8M | 14.46M | 14.2M | 14.55M | 14.55M | 14.86M | 15.3M | 15.65M | 12.44M | 12.67M |
| Fixed Asset Turnover | 5.01x | 0.78x | 0.49x | 2.41x | 1.58x | 0.25x | 0.89x | 0.93x | 0.61x | 0.80x | 0.57x | 1.02x | 0.39x | 0.29x | 0.14x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 0 | 0 | 657K | 0 | 0 | 0 | 0 | 0 | 0 | 478K | 478K | 478K | 478K | 478K | 478K | 478K | 478K | 478K | 321K | 0 |
| Other Non-Current Assets | 500K | 500K | 0 | 978K | 978K | 978K | 478K | 478K | 478K | 39K | 110K | 183K | 138K | 246K | 1.77M | 1.88M | 2.45M | 4.13M | 3.2M | 2.15M |
| Total Assets | 62.69M | 84.57M | 112.47M | 144.66M | 169.53M | 179.13M | 198.37M | 226.06M | 262.9M | 311M | 296.19M | 334.34M | 314.85M | 252.35M | 258.27M | 206.11M | 217.59M | 253.69M | 247.91M | 273.4M |
| Asset Turnover | 0.18x | 0.04x | 0.02x | 0.11x | 0.07x | 0.01x | 0.05x | 0.05x | 0.03x | 0.03x | 0.03x | 0.04x | 0.02x | 0.02x | 0.01x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x |
| Asset Growth % | -63.02% | -52.79% | -43.3% | -36.01% | -35.52% | -42.4% | -33.03% | -32.39% | -16.5% | 23.24% | 14.69% | 62.21% | 44.7% | -0.53% | 4.18% | -24.61% | -25% | -18.3% | 158.62% | 154.23% |
| Total Current Liabilities | 43.27M | 59.34M | 58.16M | 62.46M | 68.3M | 62.18M | 53.41M | 63.64M | 67.93M | 74.92M | 83.4M | 91.53M | 88.79M | 71.47M | 56.46M | 47.52M | 44.02M | 40.47M | 34.92M | 30M |
| Accounts Payable | 2.39M | 2.92M | 4.37M | 4.33M | 2.03M | 3.01M | 3.09M | 7.32M | 12.95M | 16.92M | 18.16M | 13.95M | 13.73M | 8.16M | 9.78M | 12.32M | 5.87M | 10.65M | 11.74M | 8.34M |
| Days Payables Outstanding | - | 3.72K | - | - | - | - | - | 5.98K | 11.07K | 19.06K | 20.77K | 18.06K | 23.53K | 13.12K | 17.4K | - | - | - | - | 133.18 |
| Short-Term Debt | 2.29M | 17.35M | 12.5M | 12.5M | 11.46M | 11.99M | 5.21M | 2.08M | 0 | 3.02M | 2.9M | 240K | 2.7M | 2.59M | 2.4M | 0 | 2.24M | 2.35M | 1.57M | 93K |
| Deferred Revenue (Current) | 23.77M | 20.18M | 23.71M | 22.17M | 31.37M | 29.34M | 25.62M | 28.15M | 21.59M | 20.5M | 28.77M | 30.61M | 30.92M | 26.23M | 16.58M | 3.94M | 3.96M | 3.97M | 3.98M | 3.99M |
| Other Current Liabilities | 14.81M | 427K | 637K | 640K | 1.06M | 6.38M | 91K | 13.88M | 937K | 26.89M | 28.82M | 32.62M | 32.36M | 28.64M | 24.25M | 21.64M | 25.68M | 16.78M | 14.66M | 10.83M |
| Current Ratio | 1.39x | 1.35x | 1.83x | 2.19x | 2.35x | 2.72x | 3.51x | 3.36x | 3.68x | 3.97x | 3.38x | 3.49x | 3.38x | 3.32x | 4.28x | 3.97x | 4.53x | 5.77x | 6.64x | 8.62x |
| Quick Ratio | 1.39x | 1.35x | 1.83x | 2.19x | 2.35x | 2.72x | 3.51x | 3.36x | 3.68x | 3.97x | 3.38x | 3.49x | 3.38x | 3.32x | 4.28x | 3.97x | 4.53x | 5.77x | 6.64x | 8.62x |
| Cash Conversion Cycle | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Total Non-Current Liabilities | 78.95M | 78.38M | 85.18M | 91.71M | 100.18M | 108.52M | 116.98M | 125.52M | 142.78M | 146.28M | 148.5M | 150.75M | 135.83M | 46.85M | 61.28M | 36.85M | 18.02M | 17.7M | 15.05M | 15.31M |
| Long-Term Debt | 0 | 0 | 7.9M | 10.95M | 14M | 17.05M | 20.1M | 23.15M | 25.16M | 25.08M | 25M | 24.93M | 24.85M | 24.78M | 24.7M | 24.63M | 5.08M | 4.87M | 5.01M | 4.98M |
| Capital Lease Obligations | 0 | 0 | 262K | 1.29M | 2.29M | 3.27M | 4.22M | 5.2M | 6.05M | 6.93M | 7.77M | 8.57M | 9.29M | 10.06M | 10.57M | 11.25M | 11.9M | 12.54M | 9.73M | 10.16M |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 78.95M | 0 | 0 | 8K | 21K | 626K | 638K | 1K | 67K | 76K | 140K | 203K | 266K | 328K | 389K | 974K | 1.03M | 288K | 318K | 174K |
| Total Liabilities | 122.22M | 137.72M | 143.34M | 154.17M | 168.48M | 170.7M | 170.39M | 189.16M | 210.71M | 221.2M | 231.9M | 242.28M | 224.62M | 118.32M | 117.74M | 84.37M | 62.04M | 58.17M | 49.97M | 45.31M |
| Total Debt | 2.29M | 20.62M | 24.62M | 28.6M | 31.5M | 35.96M | 33.08M | 33.83M | 34.34M | 35.03M | 35.68M | 36.54M | 36.84M | 37.43M | 37.67M | 38.18M | 19.22M | 21.93M | 16.31M | 16.66M |
| Net Debt | -54.1M | -56.35M | -77.66M | -79.15M | -47.36M | -23.04M | -42.11M | -140.73M | -151.94M | -93.7M | -87.14M | -244.17M | -147.24M | -97.91M | -192.38M | -139.77M | -172.49M | -205.46M | -212.12M | -238.43M |
| Debt / Equity | - | - | - | - | 30.03x | 4.27x | 1.18x | 0.92x | 0.66x | 0.39x | 0.55x | 0.40x | 0.41x | 0.28x | 0.27x | 0.31x | 0.12x | 0.11x | 0.08x | 0.07x |
| Debt / EBITDA | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Net Debt / EBITDA | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Interest Coverage | -18.97x | -30.53x | -31.63x | -16.40x | -12.24x | -25.90x | -20.96x | -19.97x | -35.13x | -55.12x | -58.80x | -47.54x | -67.77x | -68.09x | -64.30x | -48.96x | -463.14x | -429.76x | -372.17x | -561.05x |
| Total Equity | -59.54M | -53.15M | -30.87M | -9.51M | 1.05M | 8.43M | 27.98M | 36.9M | 52.2M | 89.8M | 64.29M | 92.06M | 90.23M | 134.03M | 140.53M | 121.74M | 155.55M | 195.51M | 197.94M | 228.09M |
| Equity Growth % | -5775.6% | -730.66% | -210.3% | -125.77% | -97.99% | -90.62% | -56.47% | -59.91% | -42.15% | -33% | -54.25% | -24.38% | -41.99% | -31.45% | -29% | -46.63% | -38.59% | -28.53% | 213.73% | 191.23% |
| Book Value per Share | -11.94 | -10.66 | -6.20 | -1.92 | 0.21 | 1.72 | 5.76 | 7.65 | 10.83 | 19.42 | 14.95 | 22.78 | 23.10 | 34.99 | 43.95 | 42.32 | 54.20 | 70.21 | 71.73 | 83.34 |
| Total Shareholders' Equity | -59.54M | -53.15M | -30.87M | -9.51M | 1.05M | 8.43M | 27.98M | 36.9M | 52.2M | 89.8M | 64.29M | 92.06M | 90.23M | 134.03M | 140.53M | 121.74M | 155.55M | 195.51M | 197.94M | 228.09M |
| Common Stock | 0 | 0 | 12K | 12K | 12K | 12K | 12K | 12K | 12K | 12K | 11K | 11K | 10K | 10K | 9K | 7K | 7K | 7K | 7K | 7K |
| Retained Earnings | -951.52M | -943.97M | -919.68M | -895.55M | -881.44M | -869.93M | -845.67M | -826.36M | -806.82M | -765.16M | -710.85M | -654.69M | -609.77M | -549.96M | -497.74M | -450.48M | -401.5M | -356.02M | -315.11M | -280.42M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 0 | 0 | 0 | 10K | 25K | -71K | -90K | 11K | 1K | -49K | 12K | -152K | -231K | -126K | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |