2024 Q4 Form 10-Q Financial Statement

#000162828024047441 Filed on November 13, 2024

View on sec.gov

Income Statement

Concept 2024 Q4 2024 Q3 2023 Q3
Revenue $12.60M $7.698M
YoY Change 63.65% 38.13%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $9.864M $12.89M
YoY Change -23.48% -11.55%
% of Gross Profit
Research & Development $14.80M $30.53M
YoY Change -51.51% -39.71%
% of Gross Profit
Depreciation & Amortization $402.0K $430.0K
YoY Change -6.51% 101.88%
% of Gross Profit
Operating Expenses $24.67M $51.64M
YoY Change -52.23% -20.81%
Operating Profit
YoY Change
Interest Expense $986.0K $1.017M
YoY Change -3.05% 15.57%
% of Operating Profit
Other Income/Expense, Net $986.0K $2.285M
YoY Change -56.85% -1428.49%
Pretax Income -$11.08M -$41.66M
YoY Change -73.4% -30.35%
Income Tax $400.0K $0.00
% Of Pretax Income
Net Earnings -$11.50M -$41.70M
YoY Change -72.42% -30.27%
Net Earnings / Revenue -91.28% -541.7%
Basic Earnings Per Share -$0.09 -$0.35
Diluted Earnings Per Share -$0.09 -$0.35
COMMON SHARES
Basic Shares Outstanding 123.5M shares 122.7M shares 120.5M shares
Diluted Shares Outstanding 122.7M shares 120.5M shares

Balance Sheet

Concept 2024 Q4 2024 Q3 2023 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $155.2M $241.0M
YoY Change -35.61% -16.93%
Cash & Equivalents $78.87M $186.3M
Short-Term Investments $76.30M $54.70M
Other Short-Term Assets $4.386M $8.800M
YoY Change -50.16% -11.21%
Inventory
Prepaid Expenses
Receivables $1.000M $0.00
Other Receivables $0.00 $0.00
Total Short-Term Assets $160.6M $249.7M
YoY Change -35.71% -16.76%
LONG-TERM ASSETS
Property, Plant & Equipment $7.995M $12.70M
YoY Change -37.05% -10.54%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $978.0K $478.0K
YoY Change 104.6% -22.4%
Total Long-Term Assets $8.973M $13.17M
YoY Change -31.85% -11.12%
TOTAL ASSETS
Total Short-Term Assets $160.6M $249.7M
Total Long-Term Assets $8.973M $13.17M
Total Assets $169.5M $262.9M
YoY Change -35.52% -16.5%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.033M $12.95M
YoY Change -84.3% -5.72%
Accrued Expenses $18.63M $29.32M
YoY Change -36.47% -28.84%
Deferred Revenue $31.37M $21.59M
YoY Change 45.29% -30.18%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $11.46M $0.00
YoY Change
Total Short-Term Liabilities $68.30M $67.93M
YoY Change 0.54% -23.49%
LONG-TERM LIABILITIES
Long-Term Debt $14.00M $25.00M
YoY Change -44.0% 0.0%
Other Long-Term Liabilities $21.00K $67.00K
YoY Change -68.66% -74.81%
Total Long-Term Liabilities $14.02M $25.07M
YoY Change -44.07% -0.79%
TOTAL LIABILITIES
Total Short-Term Liabilities $68.30M $67.93M
Total Long-Term Liabilities $14.02M $25.07M
Total Liabilities $168.5M $210.7M
YoY Change -20.04% -6.19%
SHAREHOLDERS EQUITY
Retained Earnings -$881.4M -$806.8M
YoY Change 9.25% 32.31%
Common Stock $882.5M $859.0M
YoY Change 2.73% 22.68%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.049M $52.20M
YoY Change
Total Liabilities & Shareholders Equity $169.5M $262.9M
YoY Change -35.52% -16.5%

Cashflow Statement

Concept 2024 Q4 2024 Q3 2023 Q3
OPERATING ACTIVITIES
Net Income -$11.50M -$41.70M
YoY Change -72.42% -30.27%
Depreciation, Depletion And Amortization $402.0K $430.0K
YoY Change -6.51% 101.88%
Cash From Operating Activities -$8.577M -$46.08M
YoY Change -81.39% -184.4%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $470.0K
YoY Change -100.0% -210.33%
Acquisitions
YoY Change
Other Investing Activities $28.47M $104.3M
YoY Change -72.69% -748.93%
Cash From Investing Activities $28.47M $103.8M
YoY Change -72.57% -729.31%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -23.00K -150.0K
YoY Change -84.67% -101.41%
NET CHANGE
Cash From Operating Activities -8.577M -46.08M
Cash From Investing Activities 28.47M 103.8M
Cash From Financing Activities -23.00K -150.0K
Net Change In Cash 19.87M 57.55M
YoY Change -65.47% 18.07%
FREE CASH FLOW
Cash From Operating Activities -$8.577M -$46.08M
Capital Expenditures $0.00 $470.0K
Free Cash Flow -$8.577M -$46.55M
YoY Change -81.57% -184.6%

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AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
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AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
57398000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
129363000 usd
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
186761000 usd
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
0 usd
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
442000 usd
us-gaap Interest Paid Net
InterestPaidNet
2630000 usd
us-gaap Interest Paid Net
InterestPaidNet
2508000 usd
CY2024Q3 mrsn Number Of Additional Preclinical Candidates
NumberOfAdditionalPreclinicalCandidates
2 candidate
CY2023Q3 us-gaap Net Income Loss
NetIncomeLoss
-41700000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
57398000 usd
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
175039000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
129363000 usd
CY2024Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
79346000 usd
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
186761000 usd
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
0 usd
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
442000 usd
us-gaap Interest Paid Net
InterestPaidNet
2630000 usd
us-gaap Interest Paid Net
InterestPaidNet
2508000 usd
CY2024Q3 mrsn Number Of Additional Preclinical Candidates
NumberOfAdditionalPreclinicalCandidates
2 candidate
CY2024Q3 us-gaap Net Income Loss
NetIncomeLoss
-11500000 usd
CY2023Q3 us-gaap Net Income Loss
NetIncomeLoss
-41700000 usd
us-gaap Net Income Loss
NetIncomeLoss
-55100000 usd
us-gaap Net Income Loss
NetIncomeLoss
-152100000 usd
CY2024Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-881400000 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
<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%">Concentration of Credit Risk and Off-balance Sheet Risk</span></div>Financial 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.
us-gaap Net Income Loss
NetIncomeLoss
-55100000 usd
us-gaap Net Income Loss
NetIncomeLoss
-152100000 usd
CY2024Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-881400000 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
<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%">Concentration of Credit Risk and Off-balance Sheet Risk</span></div>Financial 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.
CY2023Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
125314000 usd
mrsn Contract With Customer Liability Increase
ContractWithCustomerLiabilityIncrease
5860000 usd
mrsn Contract With Customer Liability Decrease
ContractWithCustomerLiabilityDecrease
15937000 usd
CY2024Q3 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
115237000 usd
CY2022Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
147653000 usd
mrsn Contract With Customer Liability Increase
ContractWithCustomerLiabilityIncrease
1710000 usd
mrsn Contract With Customer Liability Decrease
ContractWithCustomerLiabilityDecrease
16267000 usd
CY2023Q3 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
133096000 usd
CY2023Q3 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
4503000 usd
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
14875000 usd
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
17963000 usd
CY2023Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
174561000 usd
CY2024Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
78868000 usd
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
128885000 usd
CY2023Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
186283000 usd
CY2023Q4 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
478000 usd
CY2024Q3 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
478000 usd
CY2022Q4 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
478000 usd
CY2023Q3 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
478000 usd
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
175039000 usd
CY2024Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
79346000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
129363000 usd
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
186761000 usd
CY2023Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
125314000 usd
mrsn Contract With Customer Liability Increase
ContractWithCustomerLiabilityIncrease
5860000 usd
mrsn Contract With Customer Liability Decrease
ContractWithCustomerLiabilityDecrease
15937000 usd
CY2024Q3 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
115237000 usd
CY2022Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
147653000 usd
mrsn Contract With Customer Liability Increase
ContractWithCustomerLiabilityIncrease
1710000 usd
mrsn Contract With Customer Liability Decrease
ContractWithCustomerLiabilityDecrease
16267000 usd
CY2023Q3 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
133096000 usd
CY2024Q3 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
4388000 usd
CY2023Q3 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
4503000 usd
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
14875000 usd
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
17963000 usd
CY2023Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
174561000 usd
CY2024Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
78868000 usd
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
128885000 usd
CY2023Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
186283000 usd
CY2023Q4 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
478000 usd
CY2024Q3 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
478000 usd
CY2022Q4 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
478000 usd
CY2023Q3 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
478000 usd
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
175039000 usd
CY2024Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
79346000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
129363000 usd
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
186761000 usd
CY2023Q4 us-gaap Debt Securities Available For Sale Amortized Cost Excluding Accrued Interest After Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAmortizedCostExcludingAccruedInterestAfterAllowanceForCreditLoss
34512000 usd
CY2023Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
13000 usd
CY2023Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
2000 usd
CY2023Q4 us-gaap Debt Securities Available For Sale Excluding Accrued Interest
DebtSecuritiesAvailableForSaleExcludingAccruedInterest
34523000 usd
CY2024Q3 us-gaap Debt Securities Available For Sale Unrealized Loss Position Number Of Positions
DebtSecuritiesAvailableForSaleUnrealizedLossPositionNumberOfPositions
2 security
CY2024Q3 us-gaap Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
17700000 usd
CY2024Q3 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Number Of Positions
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerNumberOfPositions
0 security
us-gaap Debt Securities Available For Sale Excluding Accrued Interest Allowance For Credit Loss Period Increase Decrease
DebtSecuritiesAvailableForSaleExcludingAccruedInterestAllowanceForCreditLossPeriodIncreaseDecrease
0 usd
us-gaap Debt Securities Available For Sale Excluding Accrued Interest Allowance For Credit Loss Period Increase Decrease
DebtSecuritiesAvailableForSaleExcludingAccruedInterestAllowanceForCreditLossPeriodIncreaseDecrease
0 usd
CY2024Q3 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
10207000 usd
CY2023Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
8807000 usd
CY2024Q3 mrsn Accrued Clinical Expenses Current
AccruedClinicalExpensesCurrent
2843000 usd
CY2023Q4 mrsn Accrued Clinical Expenses Current
AccruedClinicalExpensesCurrent
5063000 usd
CY2024Q3 mrsn Accrued Manufacturing Expenses Current
AccruedManufacturingExpensesCurrent
2452000 usd
CY2023Q4 mrsn Accrued Manufacturing Expenses Current
AccruedManufacturingExpensesCurrent
2566000 usd
CY2024Q3 mrsn Accrued Research Development And Non Clinical Expenses Current
AccruedResearchDevelopmentAndNonClinicalExpensesCurrent
1879000 usd
CY2023Q4 mrsn Accrued Research Development And Non Clinical Expenses Current
AccruedResearchDevelopmentAndNonClinicalExpensesCurrent
3090000 usd
CY2024Q3 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
930000 usd
CY2023Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
936000 usd
CY2024Q3 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
317000 usd
CY2023Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
389000 usd
CY2024Q3 us-gaap Restructuring Reserve Current
RestructuringReserveCurrent
0 usd
CY2023Q4 us-gaap Restructuring Reserve Current
RestructuringReserveCurrent
1047000 usd
CY2024Q3 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
18628000 usd
CY2023Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
21898000 usd
CY2023Q4 us-gaap Debt Securities Available For Sale Amortized Cost Excluding Accrued Interest After Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAmortizedCostExcludingAccruedInterestAfterAllowanceForCreditLoss
34512000 usd
CY2023Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
13000 usd
CY2023Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
2000 usd
CY2023Q4 us-gaap Debt Securities Available For Sale Excluding Accrued Interest
DebtSecuritiesAvailableForSaleExcludingAccruedInterest
34523000 usd
CY2024Q3 us-gaap Debt Securities Available For Sale Unrealized Loss Position Number Of Positions
DebtSecuritiesAvailableForSaleUnrealizedLossPositionNumberOfPositions
2 security
CY2024Q3 us-gaap Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
17700000 usd
CY2024Q3 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Number Of Positions
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerNumberOfPositions
0 security
us-gaap Debt Securities Available For Sale Excluding Accrued Interest Allowance For Credit Loss Period Increase Decrease
DebtSecuritiesAvailableForSaleExcludingAccruedInterestAllowanceForCreditLossPeriodIncreaseDecrease
0 usd
us-gaap Debt Securities Available For Sale Excluding Accrued Interest Allowance For Credit Loss Period Increase Decrease
DebtSecuritiesAvailableForSaleExcludingAccruedInterestAllowanceForCreditLossPeriodIncreaseDecrease
0 usd
CY2023Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
8807000 usd
CY2024Q3 mrsn Accrued Clinical Expenses Current
AccruedClinicalExpensesCurrent
2843000 usd
CY2023Q4 mrsn Accrued Clinical Expenses Current
AccruedClinicalExpensesCurrent
5063000 usd
CY2024Q3 mrsn Accrued Manufacturing Expenses Current
AccruedManufacturingExpensesCurrent
2452000 usd
CY2023Q4 mrsn Accrued Manufacturing Expenses Current
AccruedManufacturingExpensesCurrent
2566000 usd
CY2024Q3 mrsn Accrued Research Development And Non Clinical Expenses Current
AccruedResearchDevelopmentAndNonClinicalExpensesCurrent
1879000 usd
CY2023Q4 mrsn Accrued Research Development And Non Clinical Expenses Current
AccruedResearchDevelopmentAndNonClinicalExpensesCurrent
3090000 usd
CY2024Q3 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
930000 usd
CY2023Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
936000 usd
CY2024Q3 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
317000 usd
CY2024Q3 us-gaap Restructuring Reserve Current
RestructuringReserveCurrent
0 usd
CY2023Q4 us-gaap Restructuring Reserve Current
RestructuringReserveCurrent
1047000 usd
CY2024Q3 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
18628000 usd
CY2023Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
21898000 usd
CY2024Q3 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
25000000 usd
CY2024Q3 us-gaap Long Term Debt Current
LongTermDebtCurrent
11458000 usd
CY2024Q3 mrsn Long Term Debt Noncurrent Before Adjustments
LongTermDebtNoncurrentBeforeAdjustments
13542000 usd
CY2024Q3 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
173000 usd
CY2024Q3 us-gaap Debt Instrument Unamortized Premium
DebtInstrumentUnamortizedPremium
630000 usd
CY2024Q3 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
13999000 usd
CY2024Q3 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2024Q3 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
17274942 shares
CY2023Q4 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
14736953 shares
CY2024Q3 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
17274942 shares
CY2023Q4 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
14736953 shares
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
10902845 shares
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
7.42
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
2687497 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
2.91
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
14223 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
3.25
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
1048874 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
7.98
CY2024Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
12527245 shares
CY2024Q3 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
25000000 usd
CY2024Q3 us-gaap Long Term Debt Current
LongTermDebtCurrent
11458000 usd
CY2024Q3 mrsn Long Term Debt Noncurrent Before Adjustments
LongTermDebtNoncurrentBeforeAdjustments
13542000 usd
CY2024Q3 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
173000 usd
CY2024Q3 us-gaap Debt Instrument Unamortized Premium
DebtInstrumentUnamortizedPremium
630000 usd
CY2024Q3 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
13999000 usd
CY2024Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
25000000 shares
CY2024Q3 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2024Q3 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
17274942 shares
CY2023Q4 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
14736953 shares
CY2024Q3 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
17274942 shares
CY2023Q4 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
14736953 shares
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
10902845 shares
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
7.42
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
2687497 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
2.91
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
14223 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
3.25
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
1048874 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
7.98
CY2024Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
12527245 shares
CY2024Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
6.41
CY2024Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
7716813 shares
CY2024Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
7.81
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
2.50
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
3.85
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
300000 usd
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
400000 usd
CY2024Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
6.41
CY2024Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
7716813 shares
CY2024Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
7.81
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
2.50
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
3.85
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
300000 usd
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
400000 usd
CY2024Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
17274942 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
17274942 shares
us-gaap Research And Development Arrangement Contract To Perform For Others Costs Incurred Gross
ResearchAndDevelopmentArrangementContractToPerformForOthersCostsIncurredGross
0 usd
CY2023Q3 us-gaap Research And Development Arrangement Contract To Perform For Others Costs Incurred Gross
ResearchAndDevelopmentArrangementContractToPerformForOthersCostsIncurredGross
0 usd
us-gaap Research And Development Arrangement Contract To Perform For Others Costs Incurred Gross
ResearchAndDevelopmentArrangementContractToPerformForOthersCostsIncurredGross
0 usd
CY2023Q3 mrsn Restructuring And Related Cost Number Of Positions To Be Eliminated Percent
RestructuringAndRelatedCostNumberOfPositionsToBeEliminatedPercent
0.50
CY2024Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
17274942 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
17274942 shares
us-gaap Research And Development Arrangement Contract To Perform For Others Costs Incurred Gross
ResearchAndDevelopmentArrangementContractToPerformForOthersCostsIncurredGross
0 usd
CY2024Q3 us-gaap Research And Development Arrangement Contract To Perform For Others Costs Incurred Gross
ResearchAndDevelopmentArrangementContractToPerformForOthersCostsIncurredGross
0 usd
CY2023Q3 mrsn Restructuring And Related Cost Number Of Positions To Be Eliminated Percent
RestructuringAndRelatedCostNumberOfPositionsToBeEliminatedPercent
0.50
CY2024Q3 us-gaap Restructuring And Related Cost Cost Incurred To Date1
RestructuringAndRelatedCostCostIncurredToDate1
8713000 usd
us-gaap Restructuring Charges
RestructuringCharges
8214000 usd
CY2023Q3 us-gaap Restructuring Charges
RestructuringCharges
8214000 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
400000 usd
CY2024Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
400000 usd
CY2024Q3 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q3 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q3 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q3 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2024Q3 us-gaap Restructuring And Related Cost Cost Incurred To Date1
RestructuringAndRelatedCostCostIncurredToDate1
8713000 usd
us-gaap Restructuring Charges
RestructuringCharges
8214000 usd
CY2023Q3 us-gaap Restructuring Charges
RestructuringCharges
8214000 usd
CY2024Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
400000 usd
CY2024Q3 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q3 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q3 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q3 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

Files In Submission

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0001628280-24-047441-index-headers.html Edgar Link pending
0001628280-24-047441-index.html Edgar Link pending
0001628280-24-047441.txt Edgar Link pending
0001628280-24-047441-xbrl.zip Edgar Link pending
exhibit31110-qfy2024q3.htm Edgar Link pending
exhibit31210-qfy2024q3.htm Edgar Link pending
exhibit32110-qfy2024q3.htm Edgar Link pending
Financial_Report.xlsx Edgar Link pending
MetaLinks.json Edgar Link pending
mrsn-20240930.htm Edgar Link pending
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mrsn-20240930_htm.xml Edgar Link completed