MRSN · As filed with the SEC
Mersana Therapeutics cash flow statement, by fiscal year
The statement as Mersana Therapeutics presents it in its 10-Q and 10-K: its own lines, labels and order. Tables over time lines up standardized figures across every filing.
Consolidated Statements of Cash Flows · USD thousands
| USD thousands | FY2024 Year ended Dec 31, 2024 | FY2023 Year ended Dec 31, 2023 | FY2022 Year ended Dec 31, 2022 | FY2021 Year ended Dec 31, 2021 | FY2020 Year ended Dec 31, 2020 | FY2019 Year ended Dec 31, 2019 | FY2018 Year ended Dec 31, 2018 | FY2017 Year ended Dec 31, 2017 |
|---|---|---|---|---|---|---|---|---|
| Cash flows from operating activities | ||||||||
| Segment and consolidated net loss | (69,192) | (171,670) | (204,212) | (170,060) | (88,045) | (28,208) | (64,257) | (38,707) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||||||||
| Depreciation | 1,628 | 1,517 | 927 | 855 | 1,010 | 1,245 | 1,257 | 928 |
| Loss on disposal of fixed assets | — | — | — | — | 0 | — | 20 | — |
| Net amortization of premiums and discounts on marketable securities | (3,917) | (4,569) | (1,462) | 0 | (86) | (222) | (296) | (293) |
| Stock-based compensation | 16,458 | 21,136 | 21,522 | 18,409 | 7,172 | 4,872 | 3,884 | 1,422 |
| Change in deferred rent | — | — | — | — | — | — | — | (159,000) |
| Change in deferred rent | — | — | — | — | 0 | — | 110 | — |
| Non-cash operating lease expense | 3,116 | 2,780 | — | — | — | — | — | — |
| Other non-cash items | 305 | 687 | 763 | 723 | 148 | 103 | — | — |
| Changes in operating assets and liabilities: | ||||||||
| Accounts receivable | 0 | 30,000 | (30,000) | 0 | 0 | 459 | 325 | 267 |
| Prepaid expenses and other current assets | 2,689 | 3,534 | 3,863 | (2,734) | (1,950) | 2,179 | (1,690) | (1,200) |
| Other assets | (500) | 0 | 0 | (718) | (700) | — | (1,132) | 60 |
| Accounts payable | (2,857) | (6,080) | 947 | 483 | 942 | (3,110) | 7,375 | 1,335 |
| Accrued expenses | (2,934) | (20,935) | 13,594 | 12,570 | 7,280 | (3,569) | 5,431 | 3,562 |
| Deferred revenue | — | — | — | — | — | — | — | (9,894,000) |
| Operating lease right-of-use assets | — | — | 2,777 | 1,829 | 1,642 | 1,771 | — | — |
| Operating lease liabilities | — | — | — | — | (1,281) | (1,883) | — | — |
| Operating lease liabilities | (3,254) | (3,143) | (2,539) | (1,827) | — | — | — | — |
| Deferred revenue | (23,882) | (22,139) | 143,709 | (43) | (828) | (41,381) | (6,243) | — |
| Other liabilities | 0 | 0 | 748 | 525 | — | — | — | — |
| Net cash used in operating activities | (82,340) | (168,882) | (49,363) | (139,988) | (74,696) | (67,744) | (55,216) | (42,679) |
| Cash flows from investing activities | ||||||||
| Purchase of marketable securities | — | — | — | — | — | — | — | (145,701,000) |
| Maturities of marketable securities | 145,000 | 277,970 | 97,000 | 0 | 37,500 | 27,000 | 88,565 | 47,220 |
| Purchase of marketable securities | (133,431) | (155,919) | (247,519) | 0 | 0 | (53,688) | — | — |
| Purchase of property and equipment | (132) | (2,168) | (2,197) | (648) | (473) | (605) | (1,370) | (1,143) |
| Net cash provided by (used in) investing activities | 11,437 | 119,883 | (152,716) | (648) | 37,027 | (27,293) | 87,195 | (99,624) |
| Cash flows from financing activities | ||||||||
| Net proceeds from at-the-market facilities | — | — | — | — | — | 92,162 | — | — |
| IPO | — | — | — | — | — | — | — | 67,420,000 |
| Over allotment option | — | — | — | — | — | — | — | 725,000 |
| Public Stock Offering | — | — | 0 | 0 | 163,990 | — | — | — |
| At market equity offering program (2018 ATM) | — | — | — | — | 63,036 | — | — | — |
| At Market Equity Offering Program | 5,780 | 93,539 | 150,893 | 43,087 | — | — | — | — |
| Proceeds from exercise of stock options | 56 | 427 | 1,331 | 1,837 | 3,138 | 175 | 918 | 452 |
| Proceeds from purchases of common stock under ESPP | 486 | 1,121 | 1,065 | 640 | 561 | 489 | 146 | — |
| Proceeds from issuance of debt, net of issuance costs | — | — | — | — | — | 4,965,000 | — | — |
| Payment of employee tax obligations related to vesting of restricted stock units | — | 0 | 0 | (259) | — | — | — | — |
| Proceeds from issuance of debt, net of issuance costs | 0 | (150) | 0 | 24,042 | (197) | — | — | — |
| Repayment of debt | (2,083) | 0 | 0 | (5,486) | — | — | — | — |
| Payments under finance lease obligations | (147) | (262) | (272) | (215) | (116) | (87) | — | — |
| Net cash provided by financing activities | 4,092 | 94,675 | 153,017 | 63,646 | 230,412 | 97,704 | 1,064 | 68,597 |
| Increase (decrease) in cash and cash equivalents | — | — | — | — | — | — | — | (73,706,000) |
| Cash and cash equivalents, beginning of period | — | — | — | — | — | — | 26,591,000 | 100,297,000 |
| Cash and cash equivalents, end of period | — | — | — | — | — | — | — | 26,591,000 |
| (Decrease) increase in cash, cash equivalents and restricted cash | (66,811) | 45,676 | (49,062) | (76,990) | 192,743 | 2,667 | 33,043 | — |
| Cash, cash equivalents and restricted cash, beginning of period | 175,039 | 129,363 | 178,425 | 255,415 | 62,672 | 60,005 | 26,962 | — |
| Cash, cash equivalents and restricted cash, end of period | 108,228 | 175,039 | 129,363 | 178,425 | 255,415 | 62,672 | 60,005 | — |
| Supplemental cash flow information: | ||||||||
| Cash paid for income taxes | 418 | — | — | — | — | — | — | — |
| Fair value of common stock retired in exchange for issuance of pre-funded warrants | 13,984 | — | — | 0 | 0 | 8,986 | — | — |
| Conversion of preferred stock to common stock upon closing of initial public offering | — | — | — | — | — | — | — | 94,450,000 |
| Purchases of property and equipment in accounts payable and accrued expenses | 0 | 132 | 753 | 0 | 102 | — | 317 | 35 |
| Debt financing costs in accrued expenses | 0 | 0 | 150 | 0 | 0 | 180 | — | — |
| Common stock issuance costs in accounts payable and accrued expenses | 0 | 0 | 131 | — | — | — | — | — |
| Cash paid for interest | 3,467 | 3,380 | 2,463 | 429 | 234 | 132 | — | — |
| Right-of-use assets obtained in exchange for operating lease liabilities | 0 | 0 | 298 | 3,783 | 9,980 | 4,369 | — | — |
| Right-of-use assets obtained in exchange for financing lease liabilities | — | 0 | 0 | 609 | 0 | 429 | — | — |
| ASU 2014-09 | — | — | — | — | — | — | 2,031,000 | — |
| Adjustment to accumulated deficit and deferred revenue upon adoption of Topic 606 | — | — | — | — | 0 | — | — | — |
As filed on EDGAR · Not affiliated with the U.S. SEC · Not investment advice. Each column links to its filing.