| Cash Flow | 2025-09-30 | 2025-06-30 |
|---|---|---|
| Net loss | -55,964 | -48,419 |
| Depreciation | 686 | 603 |
| Impairment loss on property and equipment | -588 | -563 |
| Net amortization of premiums and discounts on marketable securities | 140 | 140 |
| Stock-based compensation | 5,918 | 4,764 |
| Non-cash operating lease expense | 2,542 | 1,683 |
| Loss on extinguishment of debt | -378 | - |
| Other non-cash items | -151 | -154 |
| Accounts receivable | 168 | 266 |
| Prepaid expenses and other current assets | 667 | 142 |
| Other assets | 0 | 0 |
| Accounts payable | -1,937 | -1,407 |
| Accrued expenses | -4,151 | -3,781 |
| Operating lease liabilities | -2,854 | -1,878 |
| Other liabilities | -594 | -594 |
| Deferred revenue | 1,092 | -3,068 |
| Net cash used in operating activities | -55,120 | -51,928 |
| Maturities of marketable securities | 27,000 | 27,000 |
| Purchase of marketable securities | 0 | 0 |
| Proceeds from sale of property and equipment | 767 | 395 |
| Purchase of property and equipment | 0 | 0 |
| Net cash provided by (used in) investing activities | 27,767 | 27,395 |
| Net proceeds from at-the-market facilities | 0 | 0 |
| Proceeds from exercise of stock options | 0 | 0 |
| Proceeds from sales of common stock under espp | 29 | 29 |
| Repayment of debt | 23,979 | 6,250 |
| Payments under finance lease obligations | 56 | 24 |
| Net cash (used in) provided by financing activities | -24,006 | -6,245 |
| Decrease in cash, cash equivalents and restricted cash | -51,359 | -30,778 |
| Cash and cash equivalents at beginning of period | 108,228 | - |
| Cash and cash equivalents at end of period | 56,869 | - |
Mersana Therapeutics, Inc. (MRSN)
Mersana Therapeutics, Inc. (MRSN)