The call highlighted significant progress in clinical trials and milestone achievements, especially in the Emi-Le and XMT-2056 programs. However, challenges remain with proteinuria management and modest revenue growth, balanced by a stable financial outlook.

Company Guidance

In the recent conference call, Mersana Therapeutics provided several key metrics and updates regarding their development programs. Specifically, they highlighted progress with Emi-Le, a Dolasynthen ADC targeting B7-H4, which showed a 31% objective response rate (ORR) among evaluable patients with B7-H4 high tumor expression at intermediate doses. In a rare cancer type, adenoid cystic carcinoma type 1 (ACC1), Emi-Le achieved a 56% ORR. For triple-negative breast cancer (TNBC) patients with prior topo-1 ADC treatment, those with B7-H4 high expression exhibited a 29% ORR, a median progression-free survival (PFS) of 16 weeks, and an overall survival (OS) that had not yet been reached by the March 8 data cutoff. The company is investigating two dosing regimens for Emi-Le in expansion cohorts, with over 45 patients enrolled. Financially, Mersana ended the second quarter of 2025 with $77 million in cash, a net cash use of $22.6 million in operating activities, and a reported net loss of $24.3 million for the quarter. They expect their capital to support operations into mid-2026, exclusive of additional milestone payments.

Emi-Le Clinical Progress

Strong enrollment progress in Emi-Le expansion cohorts with over 45 patients enrolled. The confirmed objective response rate in adenoid cystic carcinoma was 56%, showcasing potential in rare cancers.

ASCO and ESMO Presentations

Oral presentations at ASCO 2025 and ESMO Breast Cancer 2025 highlighted clinical activity in B7-H4 expressing tumors and potential in triple-negative breast cancer (TNBC).

XMT-2056 Milestone Achievement

Achieved a $15 million development milestone with GSK for XMT-2056, indicating progress in the HER2-expressing tumors segment.

Financial Stability and Cash Runway

Ended Q2 2025 with $77 million in cash and expect to support operating plan commitments into mid-2026 without assuming future 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
Nov 11, 2025	2025 (Q3)	-1.54 / -	-2.25	―	―	―
Aug 13, 2025	2025 (Q2)	-3.87 / -4.87	-5	2.60% (+0.13)	―
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)	―	―

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
Aug 13, 2025	$6.07	$6.81	+12.19%
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%

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 Nov 11, 2025, TBA (Confirmed).

What is Mersana Therapeutics Inc (MRSN) earnings time?

Mersana Therapeutics Inc (MRSN) earnings time is at Nov 11, 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 (Q3) is -1.54.

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