Overview

* Mersana Therapeutics ( MRSN ) reports Q3 net loss of $7.5 mln vs $11.5 mln loss year ago

* Q3 collaboration revenue drops to $11 mln from $12.6 mln

* On Nov 13, Day One agreed to acquire Mersana for up to $285 mln; deal expected to close by January 2026

Outlook

* Company did not provide specific financial guidance for future periods in its press release; cancels conference call to discuss business updates and results

Result Drivers

* CASH UPDATE - Had cash and equivalents of $56.4 mln as of end September, enough to fund operations into mid-2026.

* XMT-2056 MILESTONE - Achieved $15 mln development milestone from GSK for XMT-2056 clinical trial

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 $11.009

Collabor mln

ation

revenue

Q3 EPS -$1.51

Q3 Net -$7.55

Income mln

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "strong buy" or "buy", 4 "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the biotechnology & medical research peer group is "buy"

* Wall Street's median 12-month price target for Mersana Therapeutics Inc ( MRSN ) is $30.00, about 8.6% above its November 13 closing price of $27.43

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)