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Merrimack Pharmaceuticals Inc (MACK.OQ)

MACK.OQ on NASDAQ Stock Exchange Global Market

10.58USD
8 Dec 2017
Change (% chg)

$0.10 (+0.95%)
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$10.44
Volume
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Latest Key Developments (Source: Significant Developments)

Merrimack reports Q3 loss per share from continuing operations $0.40
Wednesday, 8 Nov 2017 

Nov 8 (Reuters) - Merrimack Pharmaceuticals Inc :Merrimack reports third quarter 2017 financial results.Merrimack Pharmaceuticals Inc - Qtrly loss per share from continuing operations $0.40.Merrimack Pharmaceuticals-Believes unrestricted cash & cash equivalents & payments from shire will be sufficient to fund operations into H2 2019.  Full Article

Merrimack receives orphan drug designation for MM-121 for the treatment of type of lung cancer
Monday, 30 Oct 2017 

Oct 30 (Reuters) - Merrimack Pharmaceuticals Inc :Merrimack receives orphan drug designation for MM-121 for the treatment of heregulin positive non-small cell lung cancer.Merrimack Pharmaceuticals - ‍orphan drug designation by FDA includes eligibility for 7-year period of marketing exclusivity for MM-121 upon approval​.Merrimack Pharmaceuticals - ‍MM-121 is currently being evaluated in SHERLOC study; top-line data for SHERLOC study is expected in H2 2018​.  Full Article

Merrimack commences tender offer for outstanding 4.50 pct convertible senior notes
Friday, 13 Oct 2017 

Oct 13 (Reuters) - Merrimack Pharmaceuticals Inc ::Merrimack commences tender offer for any and all of its outstanding 4.50 pct convertible senior notes due 2020.Merrimack Pharmaceuticals-commenced tender offer to buy $25.03 million aggregate principal amount of outstanding 4.50 pct convertible senior notes due 2020​.  Full Article

Merrimack announces settlement of convertible note litigation
Wednesday, 11 Oct 2017 

Oct 10 (Reuters) - Merrimack Pharmaceuticals Inc :Merrimack announces settlement of convertible note litigation.Merrimack Pharmaceuticals Inc - ‍agreement resolves outstanding litigation associated with Merrimack's asset sale to Ipsen​.Merrimack - ‍agrees to commence tender offer to purchase outstanding convertible notes with potential to eliminate all remaining debt​.Merrimack Pharmaceuticals Inc - Merrimack does not intend to declare an additional special dividend with any funds from escrow​.Merrimack-Under terms of settlement,co to pay noteholder plaintiffs $0.90 per $1.00 of convertible notes,plus accrued interest,an amount for legal fees​.Merrimack Pharmaceuticals -tender offer to acquire all remaining convertible notes at rate $0.90 per $1.00 of convertible notes, plus accrued interest​.Merrimack -‍settlement payout,amount co expects to pay for remaining notes,expenses related to Delaware action to be about $60 million released from escrow​.  Full Article

Merrimack Pharma estimates will incur charges for one-time termination benefits in connection with corporate restructuring of about $4.5-$5.5 mln
Monday, 3 Oct 2016 

Merrimack Pharmaceuticals Inc : Reduction in headcount will not impact company's commercial team or execution of ONIVYDE'S commercial launch and label expansion .Estimates will incur charges for one-time termination benefits in connection with corporate restructuring of about $4.5-$5.5 million.  Full Article

Merrimack is immediately implementing a 22 pct reduction in headcount
Monday, 3 Oct 2016 

Merrimack Pharmaceuticals Inc : Merrimack is immediately implementing a 22% reduction in headcount . Eliminating more than $200 million in expected costs over next two years . Now anticipates aggregate research and development and selling, general and administrative expenses in 2017 of approximately $190 million . Reduction in personnel will not impact commercial team or execution of ONIVYDE'S commercial launch and label expansion . Now sees $165 million of aggregate research and development and selling, general and administrative expenses in 2017 on a non-GAAP basis . Merrimack announces major corporate restructuring . President and CEO Robert Mulroy to resign . Chairman of board Gary Crocker named interim president and CEO . Board of directors has accepted resignation of president and CEO Robert Mulroy, effective immediately . John Dineen, chairman of organization and compensation committee and former CEO of GE Healthcare, will lead CEO search .Reduction in force was substantially completed on October 3(RD) and is expected to be fully completed by December 3.  Full Article

Merrimack Pharmaceuticals Q2 loss per share $0.40
Friday, 5 Aug 2016 

Merrimack Pharmaceuticals Inc : Merrimack reports second quarter 2016 financial results . Q2 earnings per share view $-0.33 -- Thomson Reuters I/B/E/S . Q2 loss per share $0.40 . Qtrly total revenues $33.7 million versus $21.3 million from the previous quarter .Says lowers its previously provided FY expense guidance range by $20.0 million.  Full Article

FDA grants Merrimack fast track designation for Seribantumab (mm-121) in non-small cell lung cancer
Wednesday, 6 Jul 2016 

Merrimack : FDA Grants Merrimack fast track designation for Seribantumab (Mm-121) in non-small cell lung cancer . FDA grants Merrimack fast track designation for seribantumab (mm-121) in non-small cell lung cancer .Merrimack is investigating efficacy and safety of seribantumab plus standard-of-care therapy in sherloc trial.  Full Article

Leica Biosystems and Merrimack Pharmaceuticals to collaborate on development of a heregulin companion diagnostic for seribantumab
Friday, 15 Apr 2016 

Leica Biosystems and Merrimack Pharmaceuticals:Says Leica Biosystems and Merrimack Pharmaceuticals to collaborate on development of a heregulin companion diagnostic for seribantumab.  Full Article

Merrimack Pharmaceuticals announces private placement of $175 million of senior secured notes
Wednesday, 23 Dec 2015 

Merrimack Pharmaceuticals:Says closing of a private placement of $175 million in aggregate principal amount of its senior secured notes due 2022.The Notes were sold at a price equal to 100% of the principal amount of the Notes.The Notes are senior secured obligations of Merrimack and will mature on December 15, 2022, unless earlier redeemed or repurchased in accordance with their terms prior to such date.The Notes bear interest at a rate of 11.5% per year, payable semi-annually.Merrimack intends to use a portion of the net proceeds to repay all outstanding obligations under its loan and security agreement, as amended, with Hercules Technology Growth Capital, Inc.Merrimack intends to use the remaining net proceeds for working capital and other general corporate purposes.  Full Article

BRIEF-Merrimack reports Q3 loss per share from continuing operations $0.40

* Merrimack Pharmaceuticals Inc - Qtrly loss per share from continuing operations $0.40