The earnings call presented a mixed outlook. While the clinical progress of Emi-Le in TNBC and the extension of the cash runway are positive, the significant workforce reduction, decline in collaboration revenue, and increased net loss are notable challenges.

Company Guidance -

Q2 2025

During Mersana Therapeutics' Q1 2025 conference call, the company provided guidance on several key metrics and strategic initiatives. The company announced a strategic restructuring to extend its cash runway into mid-2026, with a focus on breast cancer and Phase I dose escalation work for XMT-2056. The restructuring involves a 55% reduction in workforce and a narrowing of clinical development efforts. Updated clinical data for Emi-Le (Dolasynthen B7-H4 ADC) presented at the ESMO Breast Cancer Congress showed promising results, particularly in patients with high B7-H4 expression and those who had received four or fewer prior lines of therapy, achieving an Objective Response Rate (ORR) of 29%, with the median Progression-Free Survival (PFS) at 16 weeks. Mersana ended Q1 2025 with $102.3 million in cash, with a net cash usage of $29.3 million for operating activities. The company anticipates sharing further clinical data in the second half of the year, focusing on patients with triple-negative breast cancer (TNBC) who received at least one prior topo-1 ADC.

Positive Clinical Data for Emi-Le

Emi-Le demonstrated a 29% Objective Response Rate (ORR) in patients with B7-H4 high tumors who received four or fewer prior lines of therapy, with a median Progression-Free Survival (PFS) of 16 weeks, and median Overall Survival (OS) not yet reached.

Strong Progress in TNBC Expansion Enrollment

Enrollment for the TNBC expansion cohort has advanced rapidly in 2025, indicating strong investigator enthusiasm and patient interest.

Enhanced Dosing Protocol

A new dosing regimen was established with 44.5 mg/m² on days 1 and 8 followed by 80 mg/m² every four weeks, showing promising tumor reductions of at least 30% in evaluable B7-H4 high patients.

Financial Guidance and Cash Runway

The company ended the first quarter of 2025 with $102.3 million in cash, projecting a cash runway into mid-2026, assuming no future collaborations or milestone payments.

Mersana Therapeutics (MRSN) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

Daily Earnings Calendar >

MRSN Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Aug 13, 2025	2025 (Q2)	-3.87 / -	-5	―	―	―
May 15, 2025	2025 (Q1)	-4.81 / -4.75	-4	-18.75% (-0.75)	―
Mar 03, 2025	2024 (Q4)	-4.00 / -2.75	-4	31.25% (+1.25)	―
Nov 13, 2024	2024 (Q3)	-4.29 / -2.25	-8.75	74.29% (+6.50)	―
Aug 13, 2024	2024 (Q2)	-4.17 / -5.00	-11.75	57.45% (+6.75)	―
May 09, 2024	2024 (Q1)	-4.46 / -4.00	-13	69.23% (+9.00)	―
Feb 28, 2024	2023 (Q4)	-4.00 / -4.00	-11	63.64% (+7.00)	―
Nov 07, 2023	2023 (Q3)	-8.95 / -8.75	-15.25	42.62% (+6.50)	―
Aug 08, 2023	2023 (Q2)	-10.91 / -11.75	-13.75	14.55% (+2.00)	―	―
May 09, 2023	2023 (Q1)	-10.70 / -13.00	-14.75	11.86% (+1.75)	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

MRSN Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
May 15, 2025	$9.50	$7.86	-17.26%
Mar 03, 2025	$13.08	$12.00	-8.26%
Nov 13, 2024	$55.00	$65.75	+19.55%
Aug 13, 2024	$35.50	$33.75	-4.93%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

FAQ

When does Mersana Therapeutics Inc (MRSN) report earnings?

Mersana Therapeutics Inc (MRSN) is schdueled to report earning on Aug 13, 2025, TBA (Confirmed).

What is Mersana Therapeutics Inc (MRSN) earnings time?

Mersana Therapeutics Inc (MRSN) earnings time is at Aug 13, 2025, TBA (Confirmed).

Where can I see when companies are reporting earnings?

You can see which companies are reporting today on our designated earnings calendar.

What companies are reporting earnings today?

You can see a list of the companies which are reporting today on TipRanks earnings calendar.

What is MRSN EPS forecast?

MRSN EPS forecast for the fiscal quarter 2025 (Q2) is -3.87.

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