Mersana Therapeutics Inc. announced that it has received a notice from the Nasdaq Stock Market's Listing Qualifications Department, indicating that the company is not in compliance with the Nasdaq Listing Rule 5450(b)(2)$(A)$. This rule requires Mersana to maintain a minimum Market Value of Listed Securities (MVLS) of $50 million. The notice, received on September 5, 2025, serves as a notification of deficiency but does not indicate an imminent delisting of the company's common stock, which continues to trade under the symbol "MRSN" on the Nasdaq Global Select Market. Mersana has until March 4, 2026, to regain compliance by achieving an MVLS of $50 million or more for at least ten consecutive business days. Failure to meet this requirement could result in delisting, although the company would have the opportunity to appeal. Mersana is monitoring the situation and exploring options to regain compliance.