Mersana Q1 2020 Earnings Report
Key Takeaways
Mersana Therapeutics reported its Q1 2020 financial results, highlighting the progress of XMT-1536 and the company's response to the COVID-19 pandemic. The company's cash, cash equivalents, and marketable securities totaled $78.4 million as of March 31, 2020, and they raised $65.0 million in gross proceeds through the sale of common stock.
Presented promising XMT-1536 Phase 1 dose escalation data and established maximum tolerated dose.
Raised $65M of gross proceeds from the Company’s ATM facility.
To present interim data from the ongoing XMT-1536 Phase 1 dose expansion on a conference call on May 27, 2020 and at the upcoming ASCO 2020 virtual scientific program
Net cash used in operating activities in the first quarter of 2020 was $21.2 million
Mersana
Mersana
Forward Guidance
Mersana expects that its current cash, cash equivalents and marketable securities, including the $65.0 million of gross proceeds from the ATM facility, will enable it to fund its operating plan into early 2022.