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Jun 30, 2022

Mersana Q2 2022 Earnings Report

Mersana reported financial results for Q2 2022 and provided a business update.

Key Takeaways

Mersana Therapeutics reported progress in 2022, including building UpRi as a potential foundational medicine in ovarian cancer, achieving key regulatory goals with XMT-1660 and XMT-2056, and entering into two new strategic partnerships with Janssen and GSK.

UpRi's advancement remains a primary focus.

Enrollment completion in UPLIFT is approaching.

Patient screening in UP-NEXT is underway.

Mersana's proprietary ADC platforms are allowing advancement of new candidates into the clinic.

Total Revenue
$4.28M
Previous year: $11K
+38845.5%
EPS
-$0.55
Previous year: -$0.59
-6.8%
Gross Profit
-$36.9M
Previous year: -$31.9M
+15.7%
Cash and Equivalents
$135M
Previous year: $227M
-40.5%
Free Cash Flow
-$45.4M
Previous year: -$34.8M
+30.6%
Total Assets
$252M
Previous year: $254M
-0.5%

Mersana

Mersana

Forward Guidance

Mersana anticipates receiving $100 million from GSK as consideration for entry into the option agreement and GSK’s potential exercise of its option for a license to co-develop and commercialize XMT-2056.