Bank CEOs meet with Trump to discuss Fannie Mae and Freddie Mac - Bloomberg
Mersana Therapeutics, Inc. (NASDAQ:MRSN), currently trading at $0.34 with a market capitalization of $42 million, will implement a 1-for-25 reverse stock split of its common stock, effective as of 5:00 p.m. Eastern Time on Friday. According to InvestingPro data, the stock has seen significant volatility, falling over 80% in the past year. The company filed a Certificate of Amendment to its Fifth Amended and Restated Certificate of Incorporation with the Secretary of State of Delaware to effect the change.
Following the reverse split, every twenty-five shares of issued and outstanding common stock will be automatically combined into one share. No fractional shares will be issued; instead, stockholders entitled to fractional shares will receive a cash payment in lieu of those shares. InvestingPro analysis shows the company holds more cash than debt on its balance sheet, maintaining a current ratio of 1.83.
The reverse stock split will not alter the number of authorized shares of common stock or the par value per share. Proportionate adjustments will be made to the number of shares available under Mersana’s equity incentive plans, as well as to the number of shares underlying and the exercise prices of outstanding equity awards, in accordance with plan terms.
Mersana stated that the reverse split is intended, among other purposes, to help the company meet the minimum bid price requirement for continued listing on the Nasdaq Global Select Market. The company’s common stock is expected to begin trading on a post-split basis at the market open on Monday under the existing trading symbol “MRSN.” The new CUSIP number for the common stock will be 59045L205.
This information is based on a press release statement included in the company’s filing with the Securities and Exchange Commission.
In other recent news, Mersana Therapeutics reported a net loss of $24.1 million for the first quarter of 2025, aligning with analysts’ expectations of an EPS of -0.19. The company’s revenue fell short of forecasts, yet there was a positive market reaction. Additionally, Mersana announced a 1-for-25 reverse stock split, effective July 25, 2025, to comply with Nasdaq’s minimum bid price requirement, reducing its outstanding common shares significantly. The company also shared promising interim Phase 1 clinical trial results for its drug candidate, emiltatug ledadotin (Emi-Le), showing a 31% objective response rate in patients with high B7-H4 tumors. Notably, the response rate was 56% in adenoid cystic carcinoma type 1 patients, indicating potential advances in treatment options. Truist Securities responded to these developments by raising its price target for Mersana shares to $10 while maintaining a Buy rating. The firm’s adjustment reflects optimism regarding recent clinical results and strategic restructuring. Mersana’s focus on its breast cancer treatment pipeline may have contributed to the positive market sentiment.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.