$MRSN
Mersana Therapeutics, Inc. Stock $mrsn

$mrsn Overview Financials Valuation SEC Filings Company Website

2022 Q4 Form 10-Q Financial Statement

#000162828022028551 Filed on November 07, 2022

Income Statement

Concept	2022 Q4	2022 Q3
Revenue	$14.69M	$5.573M
YoY Change	133427.27%	50563.64%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin	$14.81M	$14.57M
YoY Change	38.7%	43.95%
% of Gross Profit
Research & Development	$45.71M	$50.64M
YoY Change	22.32%	43.55%
% of Gross Profit
Depreciation & Amortization	$282.0K	$213.0K
YoY Change	33.65%	0.47%
% of Gross Profit
Operating Expenses	$60.51M	$65.21M
YoY Change	25.96%	43.64%
Operating Profit
YoY Change
Interest Expense	$902.0K	$880.0K
YoY Change	-194.75%	797.96%
% of Operating Profit
Other Income/Expense, Net		-$172.0K
YoY Change		107.23%
Pretax Income	-$44.92M	-$59.81M
YoY Change	-8.29%	31.54%
Income Tax
% Of Pretax Income
Net Earnings	-$44.92M	-$59.80M
YoY Change	-8.29%	31.51%
Net Earnings / Revenue	-305.86%	-1073.03%
Basic Earnings Per Share		-$0.61
Diluted Earnings Per Share	-$0.44	-$0.61
COMMON SHARES
Basic Shares Outstanding	99.77M shares	97.17M shares
Diluted Shares Outstanding		97.64M shares

Balance Sheet

Concept	2022 Q4	2022 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments	$280.7M	$290.1M
YoY Change	57.75%	51.34%
Cash & Equivalents	$128.9M	$184.1M
Short-Term Investments	$151.8M	$106.0M
Other Short-Term Assets	$8.507M	$9.911M
YoY Change	-22.32%	29.57%
Inventory
Prepaid Expenses
Receivables	$30.00M
Other Receivables	$0.00
Total Short-Term Assets	$319.2M	$300.0M
YoY Change	68.99%	50.5%
LONG-TERM ASSETS
Property, Plant & Equipment	$3.985M	$14.20M
YoY Change	102.49%	-7.22%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets	$661.0K	$616.0K
YoY Change	-71.94%	-78.96%
Total Long-Term Assets	$15.12M	$14.81M
YoY Change	-12.15%	-18.74%
TOTAL ASSETS
Total Short-Term Assets	$319.2M	$300.0M
Total Long-Term Assets	$15.12M	$14.81M
Total Assets	$334.3M	$314.9M
YoY Change	62.21%	44.7%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$13.95M	$13.73M
YoY Change	13.23%	134.01%
Accrued Expenses	$43.18M	$41.20M
YoY Change	50.38%	29.92%
Deferred Revenue	$30.61M	$30.92M
YoY Change	676.12%	681.9%
Short-Term Debt	$0.00	$0.00
YoY Change
Long-Term Debt Due	$0.00	$0.00
YoY Change
Total Short-Term Liabilities	$91.53M	$88.79M
YoY Change	92.61%	101.7%
LONG-TERM LIABILITIES
Long-Term Debt	$24.93M	$25.00M
YoY Change	1.23%	380.77%
Other Long-Term Liabilities	$203.0K	$266.0K
YoY Change	-79.16%	-74.27%
Total Long-Term Liabilities	$25.13M	$25.27M
YoY Change	-1.83%	305.29%
TOTAL LIABILITIES
Total Short-Term Liabilities	$91.53M	$88.79M
Total Long-Term Liabilities	$25.13M	$25.27M
Total Liabilities	$242.3M	$224.6M
YoY Change	187.17%	262.08%
SHAREHOLDERS EQUITY
Retained Earnings	-$654.7M	-$609.8M
YoY Change	45.33%	51.88%
Common Stock	$746.9M	$700.2M
YoY Change	30.53%	25.7%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity	$92.06M	$90.23M
YoY Change
Total Liabilities & Shareholders Equity	$334.3M	$314.9M
YoY Change	62.21%	44.7%

Cashflow Statement

Concept	2022 Q4	2022 Q3
OPERATING ACTIVITIES
Net Income	-$44.92M	-$59.80M
YoY Change	-8.29%	31.51%
Depreciation, Depletion And Amortization	$282.0K	$213.0K
YoY Change	33.65%	0.47%
Cash From Operating Activities	-$51.23M	$54.60M
YoY Change	20.82%	-251.25%
INVESTING ACTIVITIES
Capital Expenditures	$785.0K	-$426.0K
YoY Change	-606.45%	826.09%
Acquisitions
YoY Change
Other Investing Activities	-$44.64M	-$16.06M
YoY Change
Cash From Investing Activities	-$45.43M	-$16.49M
YoY Change	29207.1%	35750.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities	41.46M	10.64M
YoY Change	43.98%	2197.62%
NET CHANGE
Cash From Operating Activities	-51.23M	54.60M
Cash From Investing Activities	-45.43M	-16.49M
Cash From Financing Activities	41.46M	10.64M
Net Change In Cash	-55.20M	48.74M
YoY Change	301.14%	-236.61%
FREE CASH FLOW
Cash From Operating Activities	-$51.23M	$54.60M
Capital Expenditures	$785.0K	-$426.0K
Free Cash Flow	-$52.01M	$55.02M
YoY Change	23.12%	-252.62%

Facts In Submission

Frame	Concept Type	Concept / XBRL Key	Value	Unit
	dei	Entity File Number EntityFileNumber	001-38129
	dei	Entity Central Index Key EntityCentralIndexKey	0001442836
	dei	Current Fiscal Year End Date CurrentFiscalYearEndDate	--12-31
	dei	Document Fiscal Year Focus DocumentFiscalYearFocus	2022
	dei	Document Fiscal Period Focus DocumentFiscalPeriodFocus	Q3
	dei	Amendment Flag AmendmentFlag	false
	us-gaap	Number Of Operating Segments NumberOfOperatingSegments	1	segment
	dei	Document Type DocumentType	10-Q
	dei	Document Quarterly Report DocumentQuarterlyReport	true
	dei	Document Period End Date DocumentPeriodEndDate	2022-09-30
	dei	Document Transition Report DocumentTransitionReport	false
	dei	Entity Registrant Name EntityRegistrantName	Mersana Therapeutics, Inc.
	dei	Entity Incorporation State Country Code EntityIncorporationStateCountryCode	DE
	dei	Entity Tax Identification Number EntityTaxIdentificationNumber	04-3562403
	dei	Entity Address Address Line1 EntityAddressAddressLine1	840 Memorial Drive
	dei	Entity Address City Or Town EntityAddressCityOrTown	Cambridge
	dei	Entity Address State Or Province EntityAddressStateOrProvince	MA
	dei	Entity Address Postal Zip Code EntityAddressPostalZipCode	02139
	dei	City Area Code CityAreaCode	617
	dei	Local Phone Number LocalPhoneNumber	498-0020
	dei	Security12b Title Security12bTitle	Common Stock, $0.0001 par value
	dei	Trading Symbol TradingSymbol	MRSN
	dei	Security Exchange Name SecurityExchangeName	NASDAQ
	dei	Entity Current Reporting Status EntityCurrentReportingStatus	Yes
	dei	Entity Interactive Data Current EntityInteractiveDataCurrent	Yes
	dei	Entity Filer Category EntityFilerCategory	Large Accelerated Filer
	dei	Entity Small Business EntitySmallBusiness	false
	dei	Entity Emerging Growth Company EntityEmergingGrowthCompany	false
	dei	Entity Shell Company EntityShellCompany	false
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CY2021Q4	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	177947000	usd
CY2022Q3	us-gaap	Debt Securities Available For Sale Excluding Accrued Interest DebtSecuritiesAvailableForSaleExcludingAccruedInterest	106044000	usd
CY2021Q4	us-gaap	Debt Securities Available For Sale Excluding Accrued Interest DebtSecuritiesAvailableForSaleExcludingAccruedInterest	0	usd
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CY2022Q3	us-gaap	Assets Current AssetsCurrent	300037000	usd
CY2021Q4	us-gaap	Assets Current AssetsCurrent	188898000	usd
CY2022Q3	us-gaap	Property Plant And Equipment And Finance Lease Right Of Use Asset After Accumulated Depreciation And Amortization PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization	3136000	usd
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CY2021Q4	us-gaap	Operating Lease Right Of Use Asset OperatingLeaseRightOfUseAsset	12889000	usd
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CY2021Q4	us-gaap	Accrued Liabilities Current AccruedLiabilitiesCurrent	28716000	usd
CY2022Q3	us-gaap	Contract With Customer Liability Current ContractWithCustomerLiabilityCurrent	30924000	usd
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CY2021Q4	us-gaap	Other Liabilities Current OtherLiabilitiesCurrent	239000	usd
CY2022Q3	us-gaap	Liabilities Current LiabilitiesCurrent	88794000	usd
CY2021Q4	us-gaap	Liabilities Current LiabilitiesCurrent	47523000	usd
CY2022Q3	us-gaap	Operating Lease Liability Noncurrent OperatingLeaseLiabilityNoncurrent	9291000	usd
CY2021Q4	us-gaap	Operating Lease Liability Noncurrent OperatingLeaseLiabilityNoncurrent	11247000	usd
CY2022Q3	us-gaap	Long Term Debt LongTermDebt	24853000	usd
CY2021Q4	us-gaap	Long Term Debt LongTermDebt	24626000	usd
CY2022Q3	us-gaap	Contract With Customer Liability Noncurrent ContractWithCustomerLiabilityNoncurrent	101417000	usd
CY2021Q4	us-gaap	Contract With Customer Liability Noncurrent ContractWithCustomerLiabilityNoncurrent	0	usd
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CY2021Q4	us-gaap	Liabilities Liabilities	84370000	usd
CY2022Q3	us-gaap	Commitments And Contingencies CommitmentsAndContingencies		usd
CY2021Q4	us-gaap	Commitments And Contingencies CommitmentsAndContingencies		usd
CY2022Q3	us-gaap	Preferred Stock Par Or Stated Value Per Share PreferredStockParOrStatedValuePerShare	0.0001
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CY2021Q4	us-gaap	Preferred Stock Shares Authorized PreferredStockSharesAuthorized	25000000	shares
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CY2022Q3	us-gaap	Preferred Stock Shares Outstanding PreferredStockSharesOutstanding	0	shares
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CY2022Q3	us-gaap	Common Stock Shares Outstanding CommonStockSharesOutstanding	98582583	shares
CY2021Q4	us-gaap	Common Stock Shares Issued CommonStockSharesIssued	73709056	shares
CY2021Q4	us-gaap	Common Stock Shares Outstanding CommonStockSharesOutstanding	73709056	shares
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CY2022Q3	us-gaap	Liabilities And Stockholders Equity LiabilitiesAndStockholdersEquity	314850000	usd
CY2021Q4	us-gaap	Liabilities And Stockholders Equity LiabilitiesAndStockholdersEquity	206111000	usd
CY2022Q3	us-gaap	Revenue From Contract With Customer Excluding Assessed Tax RevenueFromContractWithCustomerExcludingAssessedTax	5573000	usd
CY2021Q3	us-gaap	Revenue From Contract With Customer Excluding Assessed Tax RevenueFromContractWithCustomerExcludingAssessedTax	11000	usd
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	us-gaap	Revenue From Contract With Customer Excluding Assessed Tax RevenueFromContractWithCustomerExcludingAssessedTax	32000	usd
CY2022Q3	us-gaap	Research And Development Expense ResearchAndDevelopmentExpense	50639000	usd
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	us-gaap	Research And Development Expense ResearchAndDevelopmentExpense	127676000	usd
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CY2022Q3	us-gaap	General And Administrative Expense GeneralAndAdministrativeExpense	14573000	usd
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	us-gaap	General And Administrative Expense GeneralAndAdministrativeExpense	42158000	usd
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CY2022Q3	us-gaap	Operating Expenses OperatingExpenses	65212000	usd
CY2021Q3	us-gaap	Operating Expenses OperatingExpenses	45399000	usd
	us-gaap	Operating Expenses OperatingExpenses	169834000	usd
	us-gaap	Operating Expenses OperatingExpenses	120859000	usd
CY2022Q3	us-gaap	Investment Income Interest InvestmentIncomeInterest	708000	usd
CY2021Q3	us-gaap	Investment Income Interest InvestmentIncomeInterest	15000	usd
	us-gaap	Investment Income Interest InvestmentIncomeInterest	1017000	usd
	us-gaap	Investment Income Interest InvestmentIncomeInterest	36000	usd
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CY2021Q3	us-gaap	Interest Expense InterestExpense	98000	usd
	us-gaap	Interest Expense InterestExpense	2364000	usd
	us-gaap	Interest Expense InterestExpense	286000	usd
CY2022Q3	us-gaap	Nonoperating Income Expense NonoperatingIncomeExpense	-172000	usd
CY2021Q3	us-gaap	Nonoperating Income Expense NonoperatingIncomeExpense	-83000	usd
	us-gaap	Nonoperating Income Expense NonoperatingIncomeExpense	-1347000	usd
	us-gaap	Nonoperating Income Expense NonoperatingIncomeExpense	-250000	usd
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	us-gaap	Net Income Loss NetIncomeLoss	-159288000	usd
	us-gaap	Net Income Loss NetIncomeLoss	-121077000	usd
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CY2021Q2	us-gaap	Net Income Loss NetIncomeLoss	-40913000	usd
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CY2022Q2	us-gaap	Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent	-126000	usd
CY2022Q2	us-gaap	Net Income Loss NetIncomeLoss	-52219000	usd
CY2022Q2	us-gaap	Stockholders Equity StockholdersEquity	134034000	usd
CY2022Q3	us-gaap	Stock Issued During Period Value New Issues StockIssuedDuringPeriodValueNewIssues	10626000	usd
CY2022Q3	us-gaap	Stock Issued During Period Value Stock Options Exercised StockIssuedDuringPeriodValueStockOptionsExercised	110000	usd
CY2022Q3	us-gaap	Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue	5375000	usd
CY2022Q3	us-gaap	Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent	-105000	usd
CY2022Q3	us-gaap	Net Income Loss NetIncomeLoss	-59811000	usd
CY2022Q3	us-gaap	Stockholders Equity StockholdersEquity	90229000	usd
	us-gaap	Profit Loss ProfitLoss	-159288000	usd
	us-gaap	Profit Loss ProfitLoss	-121077000	usd
	us-gaap	Depreciation Depletion And Amortization DepreciationDepletionAndAmortization	645000	usd
	us-gaap	Depreciation Depletion And Amortization DepreciationDepletionAndAmortization	644000	usd
	us-gaap	Accretion Amortization Of Discounts And Premiums Investments AccretionAmortizationOfDiscountsAndPremiumsInvestments	396000	usd
	us-gaap	Accretion Amortization Of Discounts And Premiums Investments AccretionAmortizationOfDiscountsAndPremiumsInvestments	0	usd
	us-gaap	Share Based Compensation ShareBasedCompensation	16208000	usd
	us-gaap	Share Based Compensation ShareBasedCompensation	13549000	usd
	us-gaap	Other Noncash Income Expense OtherNoncashIncomeExpense	-574000	usd
	us-gaap	Other Noncash Income Expense OtherNoncashIncomeExpense	-119000	usd
	us-gaap	Increase Decrease In Prepaid Deferred Expense And Other Assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets	-2459000	usd
	us-gaap	Increase Decrease In Prepaid Deferred Expense And Other Assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets	4104000	usd
	us-gaap	Increase Decrease In Other Operating Assets IncreaseDecreaseInOtherOperatingAssets	0	usd
	us-gaap	Increase Decrease In Other Operating Assets IncreaseDecreaseInOtherOperatingAssets	617000	usd
	us-gaap	Increase Decrease In Accounts Payable IncreaseDecreaseInAccountsPayable	1153000	usd
	us-gaap	Increase Decrease In Accounts Payable IncreaseDecreaseInAccountsPayable	-2429000	usd
	us-gaap	Increase Decrease In Accrued Liabilities IncreaseDecreaseInAccruedLiabilities	11848000	usd
	us-gaap	Increase Decrease In Accrued Liabilities IncreaseDecreaseInAccruedLiabilities	16047000	usd
	mrsn	Increase Decrease In Operating Lease Assets IncreaseDecreaseInOperatingLeaseAssets	2127000	usd
	mrsn	Increase Decrease In Operating Lease Assets IncreaseDecreaseInOperatingLeaseAssets	1548000	usd
	us-gaap	Increase Decrease In Operating Lease Liability IncreaseDecreaseInOperatingLeaseLiability	-1861000	usd
	us-gaap	Increase Decrease In Operating Lease Liability IncreaseDecreaseInOperatingLeaseLiability	-1236000	usd
	us-gaap	Increase Decrease In Contract With Customer Liability IncreaseDecreaseInContractWithCustomerLiability	128397000	usd
	us-gaap	Increase Decrease In Contract With Customer Liability IncreaseDecreaseInContractWithCustomerLiability	-32000	usd
	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	1866000	usd
	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	-97588000	usd
	us-gaap	Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities	54000000	usd
	us-gaap	Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities	0	usd
	us-gaap	Payments To Acquire Available For Sale Securities Debt PaymentsToAcquireAvailableForSaleSecuritiesDebt	159878000	usd
	us-gaap	Payments To Acquire Available For Sale Securities Debt PaymentsToAcquireAvailableForSaleSecuritiesDebt	0	usd
	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	1412000	usd
	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	493000	usd
	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	-107290000	usd
	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	-493000	usd
	us-gaap	Proceeds From Issuance Of Common Stock ProceedsFromIssuanceOfCommonStock	110954000	usd
	us-gaap	Proceeds From Issuance Of Common Stock ProceedsFromIssuanceOfCommonStock	33287000	usd
	us-gaap	Proceeds From Stock Options Exercised ProceedsFromStockOptionsExercised	206000	usd
	us-gaap	Proceeds From Stock Options Exercised ProceedsFromStockOptionsExercised	1545000	usd
	us-gaap	Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlans	606000	usd
	us-gaap	Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlans	417000	usd
	us-gaap	Payments Related To Tax Withholding For Share Based Compensation PaymentsRelatedToTaxWithholdingForShareBasedCompensation	0	usd
	us-gaap	Payments Related To Tax Withholding For Share Based Compensation PaymentsRelatedToTaxWithholdingForShareBasedCompensation	259000	usd
	us-gaap	Finance Lease Principal Payments FinanceLeasePrincipalPayments	207000	usd
	us-gaap	Finance Lease Principal Payments FinanceLeasePrincipalPayments	139000	usd
	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	111559000	usd
	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	34851000	usd
	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect	6135000	usd
	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect	-63230000	usd
CY2021Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	178425000	usd
CY2020Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	255415000	usd
CY2021Q4	us-gaap	Common Stock Capital Shares Reserved For Future Issuance CommonStockCapitalSharesReservedForFutureIssuance	9199512	shares
CY2022Q3	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	184560000	usd
CY2021Q3	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	192185000	usd
	us-gaap	Capital Expenditures Incurred But Not Yet Paid CapitalExpendituresIncurredButNotYetPaid	407000	usd
	us-gaap	Capital Expenditures Incurred But Not Yet Paid CapitalExpendituresIncurredButNotYetPaid	46000	usd
	us-gaap	Interest Paid Net InterestPaidNet	1746000	usd
	us-gaap	Interest Paid Net InterestPaidNet	187000	usd
	us-gaap	Right Of Use Asset Obtained In Exchange For Operating Lease Liability RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability	298000	usd
	us-gaap	Right Of Use Asset Obtained In Exchange For Operating Lease Liability RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability	3783000	usd
	us-gaap	Right Of Use Asset Obtained In Exchange For Finance Lease Liability RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability	0	usd
	us-gaap	Right Of Use Asset Obtained In Exchange For Finance Lease Liability RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability	609000	usd
CY2022Q3	us-gaap	Net Income Loss NetIncomeLoss	-59800000	usd
CY2021Q3	us-gaap	Net Income Loss NetIncomeLoss	-45500000	usd
	us-gaap	Net Income Loss NetIncomeLoss	-159300000	usd
	us-gaap	Net Income Loss NetIncomeLoss	-121100000	usd
CY2022Q3	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	-609800000	usd
	us-gaap	Use Of Estimates UseOfEstimates	<div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of Estimates</span></div><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of the Company’s unaudited condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, equity, revenue, expenses and related disclosure of contingent assets and liabilities at the date of the financial statements and reported amounts of revenue and expenses during the reporting period. On an ongoing basis, the Company’s management evaluates its estimates which include, but are not limited to, management’s judgments with respect to the identification of performance obligations and standalone selling prices of those performance obligations within its revenue arrangements, accrued preclinical, manufacturing and clinical expenses, valuation of stock-based awards and income taxes. Actual results could differ from those estimates.</span></div>
	us-gaap	Concentration Risk Credit Risk ConcentrationRiskCreditRisk	Concentration of Credit Risk and Off-balance Sheet RiskFinancial instruments that potentially subject the Company to concentrations of credit risk primarily consist of cash equivalents and marketable securities. Under its investment policy, the Company limits amounts invested in such securities by credit rating, maturity, industry group, investment type and issuer, except for securities issued by the U.S. government. The Company does not believe that it is subject to any significant concentrations of credit risk from these financial instruments. The Company has no financial instruments with off-balance sheet risk, such as foreign exchange contracts, option contracts, or other foreign hedging arrangements.
CY2021Q4	mrsn	Accrued Clinical Expenses Current AccruedClinicalExpensesCurrent	7879000	usd
CY2021Q4	us-gaap	Debt Securities Available For Sale Excluding Accrued Interest DebtSecuritiesAvailableForSaleExcludingAccruedInterest	0	usd
CY2021Q4	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	177947000	usd
CY2022Q3	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	184082000	usd
CY2020Q4	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	255094000	usd
CY2021Q3	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	191707000	usd
CY2021Q4	us-gaap	Restricted Cash Noncurrent RestrictedCashNoncurrent	478000	usd
CY2022Q3	us-gaap	Restricted Cash Noncurrent RestrictedCashNoncurrent	478000	usd
CY2020Q4	us-gaap	Restricted Cash Noncurrent RestrictedCashNoncurrent	321000	usd
CY2021Q3	us-gaap	Restricted Cash Noncurrent RestrictedCashNoncurrent	478000	usd
CY2021Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	178425000	usd
CY2022Q3	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	184560000	usd
CY2020Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	255415000	usd
CY2021Q3	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	192185000	usd
CY2022Q3	mrsn	Accrued Preclinical Expenses Current AccruedPreclinicalExpensesCurrent	5811000	usd
CY2021Q4	us-gaap	Debt Securities Available For Sale Excluding Accrued Interest DebtSecuritiesAvailableForSaleExcludingAccruedInterest	0	usd
CY2022Q3	us-gaap	Debt Securities Available For Sale Unrealized Loss Position Number Of Positions DebtSecuritiesAvailableForSaleUnrealizedLossPositionNumberOfPositions	23	security
CY2022Q3	us-gaap	Debt Securities Available For Sale Unrealized Loss Position Accumulated Loss DebtSecuritiesAvailableForSaleUnrealizedLossPositionAccumulatedLoss	96100000	usd
CY2022Q3	us-gaap	Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Number Of Positions DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerNumberOfPositions	0	security
CY2022Q3	us-gaap	Debt Securities Available For Sale Amortized Cost Allowance For Credit Loss Excluding Accrued Interest DebtSecuritiesAvailableForSaleAmortizedCostAllowanceForCreditLossExcludingAccruedInterest	0	usd
CY2022Q3	mrsn	Accrued Manufacturing Expenses Current AccruedManufacturingExpensesCurrent	13230000	usd
CY2021Q4	mrsn	Accrued Manufacturing Expenses Current AccruedManufacturingExpensesCurrent	8476000	usd
CY2022Q3	mrsn	Accrued Clinical Expenses Current AccruedClinicalExpensesCurrent	10972000	usd
CY2021Q4	mrsn	Accrued Preclinical Expenses Current AccruedPreclinicalExpensesCurrent	3848000	usd
CY2022Q3	us-gaap	Employee Related Liabilities Current EmployeeRelatedLiabilitiesCurrent	9083000	usd
CY2021Q4	us-gaap	Employee Related Liabilities Current EmployeeRelatedLiabilitiesCurrent	7319000	usd
CY2022Q3	us-gaap	Accrued Professional Fees Current AccruedProfessionalFeesCurrent	1822000	usd
CY2021Q4	us-gaap	Accrued Professional Fees Current AccruedProfessionalFeesCurrent	909000	usd
CY2022Q3	us-gaap	Other Accrued Liabilities Current OtherAccruedLiabilitiesCurrent	286000	usd
CY2021Q4	us-gaap	Other Accrued Liabilities Current OtherAccruedLiabilitiesCurrent	285000	usd
CY2022Q3	us-gaap	Accrued Liabilities Current AccruedLiabilitiesCurrent	41204000	usd
CY2021Q4	us-gaap	Accrued Liabilities Current AccruedLiabilitiesCurrent	28716000	usd
CY2022Q3	us-gaap	Deferred Finance Costs Net DeferredFinanceCostsNet	100000	usd
CY2022Q3	us-gaap	Debt Instrument Carrying Amount DebtInstrumentCarryingAmount	25000000	usd
CY2022Q3	us-gaap	Long Term Debt Current LongTermDebtCurrent	0	usd
CY2022Q3	us-gaap	Long Term Debt Noncurrent LongTermDebtNoncurrent	25000000	usd
CY2022Q3	us-gaap	Debt Instrument Unamortized Discount DebtInstrumentUnamortizedDiscount	345000	usd
CY2022Q3	us-gaap	Debt Instrument Unamortized Premium DebtInstrumentUnamortizedPremium	198000	usd
CY2022Q3	us-gaap	Long Term Debt LongTermDebt	24853000	usd
CY2022Q3	us-gaap	Preferred Stock Shares Authorized PreferredStockSharesAuthorized	25000000	shares
CY2022Q3	us-gaap	Preferred Stock Shares Issued PreferredStockSharesIssued	0	shares
CY2013	mrsn	Class Of Warrant Or Right Securities Called By Warrants Or Rights Number Issued ClassOfWarrantOrRightSecuritiesCalledByWarrantsOrRightsNumberIssued	129491	shares
CY2013Q4	us-gaap	Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1 ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1	0.05
CY2013	mrsn	Contractual Life Of Warrants ContractualLifeOfWarrants	P10Y
CY2022Q3	us-gaap	Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights	22590	shares
CY2022Q2	us-gaap	Common Stock Par Or Stated Value Per Share CommonStockParOrStatedValuePerShare	0.0001
CY2022Q2	us-gaap	Common Stock Shares Authorized CommonStockSharesAuthorized	175000000	shares
CY2022Q2	us-gaap	Common Stock Shares Authorized CommonStockSharesAuthorized	350000000	shares
	us-gaap	Common Stock Voting Rights CommonStockVotingRights	The holders of the common stock are entitled to one vote for each share held.
CY2022Q3	us-gaap	Common Stock Capital Shares Reserved For Future Issuance CommonStockCapitalSharesReservedForFutureIssuance	12418052	shares
CY2022Q3	us-gaap	Common Stock Capital Shares Reserved For Future Issuance CommonStockCapitalSharesReservedForFutureIssuance	12418052	shares
CY2021Q4	us-gaap	Common Stock Capital Shares Reserved For Future Issuance CommonStockCapitalSharesReservedForFutureIssuance	9199512	shares
CY2021Q4	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber	8342429	shares
CY2021Q4	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice	11.25
	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross	2765034	shares
	us-gaap	Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice	5.41
	us-gaap	Stock Issued During Period Shares Stock Options Exercised StockIssuedDuringPeriodSharesStockOptionsExercised	54299	shares
	us-gaap	Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice	3.81
	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod	528384	shares
	us-gaap	Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice	13.33
CY2022Q3	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber	10524780	shares
CY2022Q3	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice	9.65
CY2022Q3	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber	10524780	shares
CY2022Q3	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice	9.65
CY2022Q3	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber	5339351	shares
CY2022Q3	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice	8.96
	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue	3.96
	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue	12.37
	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue	100000	usd
	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue	3900000	usd
	us-gaap	Proceeds From Stock Options Exercised ProceedsFromStockOptionsExercised	200000	usd
	us-gaap	Proceeds From Stock Options Exercised ProceedsFromStockOptionsExercised	1500000	usd
CY2022Q3	us-gaap	Allocated Share Based Compensation Expense AllocatedShareBasedCompensationExpense	5375000	usd
CY2021Q3	us-gaap	Allocated Share Based Compensation Expense AllocatedShareBasedCompensationExpense	4928000	usd
	us-gaap	Allocated Share Based Compensation Expense AllocatedShareBasedCompensationExpense	16208000	usd
	us-gaap	Allocated Share Based Compensation Expense AllocatedShareBasedCompensationExpense	13549000	usd
CY2022Q3	us-gaap	Allocated Share Based Compensation Expense AllocatedShareBasedCompensationExpense	5375000	usd
CY2021Q3	us-gaap	Allocated Share Based Compensation Expense AllocatedShareBasedCompensationExpense	4928000	usd
	us-gaap	Allocated Share Based Compensation Expense AllocatedShareBasedCompensationExpense	16208000	usd
	us-gaap	Allocated Share Based Compensation Expense AllocatedShareBasedCompensationExpense	13549000	usd
CY2022Q3	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate	0.029
CY2021Q3	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate	0.010
	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate	0.020
	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate	0.008
CY2022Q3	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate	0
CY2021Q3	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate	0
	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate	0
	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate	0
CY2022Q3	us-gaap	Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1 SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1	P6Y1M9D
CY2021Q3	us-gaap	Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1 SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1	P6Y1M9D
	us-gaap	Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1 SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1	P5Y11M26D
	us-gaap	Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1 SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1	P6Y18D
CY2022Q3	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate	0.94
CY2021Q3	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate	0.82
	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate	0.88
	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate	0.83
	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate	0
	us-gaap	Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount	12418052	shares
CY2022Q3	us-gaap	Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount	12418052	shares
	us-gaap	Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount	9055489	shares
CY2021Q3	us-gaap	Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount	9055489	shares

Files In Submission

Name	View Source	Status
0001628280-22-028551-index-headers.html	Edgar Link	pending
0001628280-22-028551-index.html	Edgar Link	pending
0001628280-22-028551.txt	Edgar Link	pending
0001628280-22-028551-xbrl.zip	Edgar Link	pending
exhibit101.htm	Edgar Link	pending
exhibit31110-qfy2022q3.htm	Edgar Link	pending
exhibit31210-qfy2022q3.htm	Edgar Link	pending
exhibit32110-qfy2022q3.htm	Edgar Link	pending
Financial_Report.xlsx	Edgar Link	pending
MetaLinks.json	Edgar Link	pending
mrsn-20220930.htm	Edgar Link	pending
mrsn-20220930.xsd	Edgar Link	pending
R1.htm	Edgar Link	pending
R10.htm	Edgar Link	pending
R11.htm	Edgar Link	pending
R12.htm	Edgar Link	pending
R13.htm	Edgar Link	pending
R14.htm	Edgar Link	pending
R15.htm	Edgar Link	pending
R16.htm	Edgar Link	pending
R17.htm	Edgar Link	pending
R18.htm	Edgar Link	pending
R19.htm	Edgar Link	pending
R2.htm	Edgar Link	pending
R20.htm	Edgar Link	pending
R21.htm	Edgar Link	pending
R22.htm	Edgar Link	pending
R23.htm	Edgar Link	pending
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$MRSN
Mersana Therapeutics, Inc. Stock $mrsn

2022 Q4 Form 10-Q Financial Statement

#000162828022028551 Filed on November 07, 2022

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$MRSN Mersana Therapeutics, Inc. Stock $mrsn

2022 Q4 Form 10-Q Financial Statement

#000162828022028551 Filed on November 07, 2022

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$MRSN
Mersana Therapeutics, Inc. Stock $mrsn