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Dec 31, 2023

Mersana Q4 2023 Earnings Report

Mersana reported its Q4 2023 financial results and provided a business update.

Key Takeaways

Mersana Therapeutics reported the advancement of its clinical trials for XMT-1660 and XMT-2056, progress in collaborations with Johnson & Johnson and Merck KGaA, and provided an update on its financial results for the fourth quarter and full year ended December 31, 2023.

Continued to advance Phase 1 clinical trial of XMT-1660, with initial data expected in mid-2024.

Restarted Phase 1 clinical trial of XMT-2056 after the lifting of a clinical hold by the FDA.

Advanced collaborations with Johnson & Johnson and Merck KGaA.

Presented clinical data for discontinued NaPi2b ADC product candidates at ESGO 2024 Congress.

Total Revenue
$10.7M
Previous year: $14.7M
-27.1%
EPS
-$0.16
Previous year: -$0.44
-63.6%
Gross Profit
$10.3M
Previous year: $14.4M
-28.8%
Cash and Equivalents
$209M
0
Free Cash Flow
-$34.5M
Previous year: -$52M
-33.6%
Total Assets
$226M
0

Mersana

Mersana

Forward Guidance

Mersana plans to share initial dose escalation and backfill cohort data for XMT-1660 in mid-2024 and advance dose escalation in the Phase 1 clinical trial of XMT-2056.