Event-Driven Stocks

Mersana Therapeutics, Inc.

MRSN

Healthcare · Pharmaceutical Preparations · DE · SEC filings ↗ · Compare ⊕

View price & chart on Yahoo Finance ↗
Signs● 2 good● 3 warning● 1 severedetails ↓

Financials

SEC XBRL · annual
 FY24FY23FY22FY21FY20FY19
Revenue$40.5M$36.9M$26.6M$43,000$828,000$42.1M
Operating income——————
Net income−$69.2M−$171.7M−$204.2M−$170.1M−$88.0M−$28.2M
Total assets$144.7M$226.1M$334.3M$206.1M$273.4M$107.5M
Total liabilities$154.2M$189.2M$242.3M$84.4M$45.3M$29.2M
Equity−$9.5M$36.9M$92.1M$121.7M$228.1M$78.3M
EPS (diluted)$-0.56$-1.48$-2.18$-2.41$-1.43$-0.65
Shares out.121.3M108.0M83.4M69.0M45.4M47.7M

Reported figures from the company's SEC filings (XBRL). Blank where a line item isn't cleanly tagged — never estimated.

Key ratios

from filings · FY2024
Operating margin
—
Net margin
−170.9%
Return on equity
727.6%
Return on assets
−47.8%
Return on capital (ROCE)
—
Liabilities / assets
106.6%
Debt / equity
—
Book value / share
$-0.08
Revenue growth (YoY)
9.9%
Net income growth (YoY)
—

Computed from the company's own SEC figures — no market price, so these are facts, not a valuation. Book value per share is reported equity ÷ shares; it is not the stock price.

Financial health

forensic scores · FY2024
Accruals / assets
9.1%moderate
Piotroski F-Score
2/8weak

Altman Z″is a textbook bankruptcy-distress score from book values only (>2.6 safe · 1.1–2.6 grey · <1.1 distress). Accruals = (net income − operating cash flow) ÷ assets; persistently high accruals are an earnings-quality red flag. Beneish M-Scoreis an eight-ratio screen comparing this year with last (M > −1.78 = elevated manipulation-risk screen, not proof). Piotroski F-Scorecounts how many of nine fundamental-health checks pass (shown as passed / applicable; we use operating margin and total liabilities as documented proxies where the exact input isn't XBRL-tagged). Computed from SEC filings — descriptive factors, not advice or a forecast.

Quality score

EDS Score
53
/ 100
Profitability 33Growth 100Catalyst 67Earnings quality 33Financial strength 33

Our own multi-factor score from free SEC data — profitability, growth, financial strength, earnings quality, and event/ownership catalysts. No market price and no licensed model: each axis is the share of source-backed checks it passes. Descriptive factors, not advice or a forecast.

Signs

● 1 severe● 3 warning● 2 good
  • Negative shareholder equity
  • Reported a net loss
  • High leverage (liabilities > 70% of assets)
  • Negative operating cash flow
  • Strong return on equity (>15%)
  • Revenue is growing year-over-year

Derived from the company's own SEC figures (fundamentals, forensic scores, filing discipline) — descriptive factors, not advice or a forecast.

Clinical trials

ClinicalTrials.gov · ongoing · next readout first

Interventional studies led by this company. “Readout” is the trial's primary-completion date — an estimate the sponsor reports, not a guarantee.

5%+ owners

SEC Schedule 13D / 13G · last 3 yrs

Holders who disclosed a 5%+ stake. 13D signals intent to influence or control; 13G is a passive holding. Latest filing per holder — open it for the exact stake.

Short interest

FINRA · bi-monthly
SettlementShares shortDays to coverΔ vs prior
Dec 31, 202513,9671.0-74.3%
Dec 15, 202554,4461.1+1.2%
Nov 28, 202553,8051.0-82.1%
Nov 14, 2025300,4001.0-7.1%
Oct 31, 2025323,5017.1+6.5%

Shares sold short as reported to FINRA. Days-to-cover = short shares ÷ average daily volume — higher means more potential squeeze pressure.

Material events

SEC Form 8-K · most recent

Events the company reported on Form 8-K, labelled by the SEC item code it filed under — its own classification, not our interpretation.

Recent SEC filings

All filings ↗

Event-driven situations (2)