Last $7.29 USD
Change Today +0.05 / 0.69%
Volume 1.7M
As of 8:10 PM 09/19/14 All times are local (Market data is delayed by at least 15 minutes).

merrimack pharmaceuticals in (MACK) Snapshot

Open
$7.28
Previous Close
$7.24
Day High
$7.30
Day Low
$6.97
52 Week High
05/29/14 - $8.25
52 Week Low
11/6/13 - $2.05
Market Cap
762.4M
Average Volume 10 Days
1.3M
EPS TTM
$-1.16
Shares Outstanding
104.6M
EX-Date
--
P/E TM
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Dividend
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Dividend Yield
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Current Stock Chart for MERRIMACK PHARMACEUTICALS IN (MACK)

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merrimack pharmaceuticals in (MACK) Details

Merrimack Pharmaceuticals, Inc., a biopharmaceutical company, is engaged in discovering, developing, and preparing to commercialize medicines paired with companion diagnostics for the treatment of cancer primarily in the United States. Its therapeutic oncology candidates in clinical development include MM-398, a stable nanotherapeutic encapsulation of the chemotherapy drug irinotecan, which is in multiple ongoing Phase I, Phase II, Phase III clinical trials for the treatment of various cancers; MM-121, a human monoclonal antibody that targets the ErbB3 cell surface receptor, which is in multiple ongoing Phase I and Phase II clinical trials to inhibit cancer growth directly; and MM-111, a bispecific antibody that is in multiple ongoing Phase I and Phase II clinical trials to inhibit ErbB3 signaling in cancer cells that are characterized by overexpression of the ErbB2 cell surface receptor. The company’s product candidates also include MM-302, an antibody drug conjugated liposomal doxorubicin that is in Phase I clinical trials for advanced ErbB2 positive breast cancer; MM-151, an oligoclonal therapeutic consisting of a mixture of three human antibody antagonists, which is in Phase I clinical trials for refractory solid tumors; and MM-141, a human tetravalent bispecific antibody that is in Phase I clinical trials to inhibit signaling of the PI3K/AKT/mTOR pathway initiated by the insulin-like growth factor 1 receptor(IGF-1R) and ErbB3. Its therapeutic oncology product candidates are used in the treatment of various cancers, including pancreatic, colorectal, gastric, glioma, ovarian, breast, lung, and other gynecological cancers. The company has collaboration and license agreements with Actavis, Sanofi, PharmaEngine, Inc., Dyax Corp., Adimab LLC, University of California, U.S. Public Health Service, and Selexis SA. Merrimack Pharmaceuticals, Inc. was incorporated in 1993 and is headquartered in Cambridge, Massachusetts.

254 Employees
Last Reported Date: 03/4/14
Founded in 1993

merrimack pharmaceuticals in (MACK) Top Compensated Officers

Chief Executive Officer, President, Executive...
Total Annual Compensation: $512.7K
Chief Financial Officer, Principal Accounting...
Total Annual Compensation: $284.6K
Senior Vice President of Corporate Operations
Total Annual Compensation: $343.3K
Senior Vice President of Business Development...
Total Annual Compensation: $305.7K
Chief Scientific Officer and Senior Vice Pres...
Total Annual Compensation: $364.6K
Compensation as of Fiscal Year 2013.

merrimack pharmaceuticals in (MACK) Key Developments

Merrimack Pharmaceuticals, Inc. Announces Initiation of Hermione, Randomized Trial of Mm-302 in Patients with Advanced HER2-Positive Breast Cancer to Support Application for Accelerated Approval

Merrimack Pharmaceuticals, Inc. announced the initiation of a global, open-label, randomized Phase 2 trial of MM-302, a HER2-targeted nanoliposomal encapsulation of doxorubicin, in combination with trastuzumab in patients with HER2-positive locally advanced or metastatic breast cancer. The trial was designed with input from the U.S. Food and Drug Administration to support a potential accelerated approval application. MM-302 is Merrimack's wholly owned, novel antibody-drug conjugated liposomal doxorubicin that targets and binds to HER2, a protein that when overexpressed can lead to the development and aggressive progression of breast cancer. Merrimack is pursuing this study based on encouraging results from an ongoing Phase 1 study showing a median progression free survival benefit of 5.7 months in a heavily pretreated population of 47 patients receiving a therapeutic dose of MM-302 alone or in combination with trastuzumab. Patients who had not received prior anthracycline-based chemotherapy treatment had a median PFS of 10.9 months and a 35% overall response rate. The most common adverse events in the Phase 1 study were fatigue, nausea and decreased appetite. Cardiac events, which is a side effect that has limited the use of anthracyclines, have been infrequent and none were serious adverse events. The HERMIONE trial is expected to enroll approximately 250 patients who will be randomized to receive either MM-302 and trastuzumab and trastuzumab. Eligible patients for the HERMIONE trial must have received prior treatment with trastuzumab in any setting, and pertuzumab in the locally advanced or metastatic setting, but have not been treated with an anthracycline-based regimen. The primary endpoint of the trial is PFS. Secondary endpoints include overall survival, objective response rate, safety and tolerability. Merrimack plans to conduct the trial at approximately 60 sites in the United States, Canada and Western Europe, and initial trial sites are now open to screen patients in the United States.

Merrimack Pharmaceuticals, Inc. Announces Unaudited Consolidated Earnings Results for the Second Quarter Ended June 30, 2014

Merrimack Pharmaceuticals, Inc. announced unaudited consolidated earnings results for the second quarter ended June 30, 2014. For the quarter, the company reported collaboration revenues of $27,815,000 against $18,452,000 for the same period a year ago. Loss from operations was $13,901,000 against $29,108,000 for the same period a year ago. Net loss was $18,290,000 against $30,251,000 for the same period a year ago. This decrease in net loss was primarily attributable to a $22.5 million increase in revenue due to a change in estimate of the revenue recognition period of previously-received upfront, milestone and manufacturing payments as a result of the termination of the MM-121 license and collaboration agreement with Sanofi effective December 17, 2014, unless Merrimack elects to accelerate this termination date; $3.3 million of increased research and development expense not associated with MM-121, which was primarily due to increased spending on Merrimack's other clinical stage product candidates; $3.3 million of increased interest expense from Merrimack's 4.50% convertible senior notes, which were issued in July 2013, of which $2.0 million is imputed non-cash expense primarily related to the conversion feature of the convertible senior notes; and $2.8 million of increased general and administrative expense primarily associated with increased headcount costs to support clinical and commercial development and increased costs to support commercialization efforts on MM-398. Net loss attributable to company was $18,109,000 against $30,028,000 for the same period a year ago. Net loss per basic and diluted share attributable to common shareholders was $0.17 against $0.31 for the same period a year ago.

Merrimack Pharmaceuticals, Inc., Q2 2014 Earnings Call, Aug 11, 2014

Merrimack Pharmaceuticals, Inc., Q2 2014 Earnings Call, Aug 11, 2014

 

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