CRDL vs MRSN

Comparison between Cardiol Therapeutics Inc - Class A (CRDL, Company) and Mersana Therapeutics Inc (MRSN, Company).

Both CRDL and MRSN are from the Healthcare sector.

5-Year PerformanceCRDL has outperformed MRSN, delivering a return of -9.0% compared to -42.3%

CRDL vs MRSN - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	CRDL(COMPANY)	MRSN(COMPANY)
Market Cap	$146M	$145M
Max Drawdown	92.71%	99.13%
Sharpe Ratio	0.28	0.58
5Y Beta	1.27	N/A
Industry	Drug Manufacturers - Specialty & Generic	Biotechnology
P/E Ratio	-4.74	-2.04
5Y EPS CAGR	-10.43%	-15.54%
Debt to Equity	0.48%	0.00%
Free Cash Flow Yield	-12.04%	-51.16%
P/S Ratio	1014.87	N/A
P/B Ratio	8.49	N/A

Market Cap

Winner

CRDL

$146M

MRSN

$145M

Max Drawdown

Winner

CRDL

92.71%

MRSN

99.13%

Sharpe Ratio

CRDL

0.28

Winner

MRSN

0.58

5Y Beta

CRDL

1.27

MRSN

N/A

Industry

CRDL

Drug Manufacturers - Specialty & Generic

MRSN

Biotechnology

P/E Ratio

Winner

CRDL

-4.74

MRSN

-2.04

5Y EPS CAGR

Winner

CRDL

-10.43%

MRSN

-15.54%

Debt to Equity

CRDL

0.48%

Winner

MRSN

0.00%

Free Cash Flow Yield

Winner

CRDL

-12.04%

MRSN

-51.16%

P/S Ratio

CRDL

1014.87

MRSN

N/A

P/B Ratio

CRDL

8.49

MRSN

N/A

CRDL vs MRSN - Historical Returns

Returns include dividend reinvestment.

Period	CRDL	MRSN
1 month	+27.10%	+4.70%
3 months	+3.03%	+254.63%
6 months	+36.71%	+282.25%
1 year	+27.10%	-14.47%
5 years(CAGR)	-9.01%	-42.31%
10 years(CAGR)	N/A	-25.31%
Max(CAGR)	-12.53%	-25.31%

Winner

CRDL

+27.10%

MRSN

+4.70%

CRDL

+3.03%

Winner

MRSN

+254.63%

CRDL

+36.71%

Winner

MRSN

+282.25%

Winner

CRDL

+27.10%

MRSN

-14.47%

5Y(CAGR)

Winner

CRDL

-9.01%

MRSN

-42.31%

10Y(CAGR)

CRDL

N/A

MRSN

-25.31%

Max(CAGR)

Winner

CRDL

-12.53%

MRSN

-25.31%

CRDL vs MRSN - Annual Returns (2017 - 2026)

Returns include dividend reinvestment.

Year	CRDL	MRSN
2026	+36.79%	+0.14%
2025	-30.38%	-17.34%
2024	+45.45%	-37.00%
2023	+56.12%	-59.51%
2022	-72.58%	-9.01%
2021	-13.65%	-76.55%
2020	-39.59%	+396.46%
2019	-5.49%	+32.95%
2018	N/A	-76.54%
2017	N/A	+17.36%

CRDL vs MRSN Drawdown Comparison

The maximum drawdown for CRDL was -92.71%, occurring on Apr 5, 2023. This drawdown has not yet recovered.

The maximum drawdown for MRSN was -99.13%, occurring on Aug 11, 2025. This drawdown has not yet recovered.

The current CRDL drawdown is -78.03%. The current MRSN drawdown is -95.78%.

Rank	CRDL	MRSN
#1	-92.71% Feb 22, 2019 - Apr 5, 2023	-99.13% Dec 23, 2020 - Aug 11, 2025
#2	-9.26% Feb 4, 2019 - Feb 19, 2019	-93.61% May 25, 2018 - Jun 25, 2020
#3	-1.86% Jan 18, 2019 - Jan 29, 2019	-34.46% Sep 16, 2020 - Dec 1, 2020
#4	-0.20% Jan 16, 2019 - Jan 18, 2019	-31.86% Oct 3, 2017 - May 22, 2018
#5	N/A	-30.77% Jun 30, 2020 - Sep 14, 2020
#6	N/A	-14.30% Sep 11, 2017 - Sep 22, 2017
#7	N/A	-11.24% Dec 1, 2020 - Dec 21, 2020
#8	N/A	-5.21% Jun 28, 2017 - Jul 12, 2017
#9	N/A	-5.21% Sep 14, 2020 - Sep 16, 2020
#10	N/A	-4.29% Aug 21, 2017 - Aug 29, 2017
#11	N/A	-4.26% Sep 22, 2017 - Oct 2, 2017
#12	N/A	-3.25% Jul 27, 2017 - Aug 8, 2017
#13	N/A	-2.71% Jun 25, 2020 - Jun 30, 2020
#14	N/A	-2.48% Aug 14, 2017 - Aug 18, 2017
#15	N/A	-2.13% Aug 30, 2017 - Sep 11, 2017