Mersana Therapeutics(US:MRSN) Globenewswire·2025-08-13 11:00Core Viewpoint - Mersana Therapeutics is making significant progress in the development of its antibody-drug conjugates (ADCs), particularly Emi-Le, with promising clinical data presented at major oncology conferences and ongoing patient enrollment in clinical trials [2][4][5]. Clinical Development - The company presented clinical data for Emi-Le at ASCO 2025 and ESMO Breast Cancer 2025, showcasing its activity in triple-negative breast cancer (TNBC) and adenoid cystic carcinoma type 1 (ACC-1) [2][4]. - Mersana is currently enrolling patients in two dose expansion cohorts for Emi-Le, with over 45 patients enrolled so far, and plans to report initial clinical data in the second half of 2025 [5][8]. Financial Performance - For Q2 2025, Mersana reported collaboration revenue of $3.1 million, an increase from $2.3 million in Q2 2024, attributed to higher revenue from partnerships with Johnson & Johnson and Merck KGaA [15][20]. - The company incurred a net loss of $24.3 million for Q2 2025, consistent with the loss of $24.3 million in Q2 2024, with a net loss per share of $4.87 compared to $4.96 in the prior year [15][20]. Cash Position - As of June 30, 2025, Mersana had cash and cash equivalents of $77.0 million, down from $134.6 million at the end of 2024 [15][18]. - The company expects its capital resources to support its operating plan commitments into mid-2026 [15]. Corporate Actions - Mersana executed a 1-for-25 reverse stock split on July 25, 2025, reducing the number of outstanding shares from approximately 124.8 million to about 5.0 million [8][10]. - The company regained compliance with Nasdaq's minimum bid price requirement as of August 11, 2025, following a closing bid price of at least $1.00 for 10 consecutive business days [11]. Collaborations - Mersana continues to advance its collaborations with Johnson & Johnson and Merck KGaA, focusing on research related to its Dolasynthen and Immunosynthen ADC platforms [7].