Merrimack Pharmaceuticals, Inc.
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- Merrimack Pharmaceuticals, Inc. is a biopharmaceutical company specializing in discovering, developing, and preparing to commercialize innovative medicines paired with companion diagnostics for cancer treatment. The company’s core products include targeted therapeutic oncology candidates such as MM-302, a HER2-targeting antibody-drug conjugate; MM-121 (seribantumab), an anti-HER3 monoclonal antibody; MM-141 (istiratumab), an IGF-1R and HER3 bispecific monoclonal antibody; and MM-151, an anti-EGFR mixture of monoclonal antibodies. These candidates are designed for intravenous administration across multiple solid tumor types. Merrimack also develops companion diagnostics to support the targeted therapies. Founded in 1993 and headquartered in Cambridge, Massachusetts, the company’s business model centers on internal development and strategic partnerships in oncology and related fields. Recently, Merrimack Pharmaceuticals announced plans to dissolve and delist from NASDAQ by May 2024, subject to stockholder approval. This decision follows milestone payments tied to the sale of its Onivyde technology to Ipsen S.A., including a significant $225 million payment triggered by FDA approval for a pancreatic cancer indication. The company expects to distribute proceeds from these milestone payments alongside residual cash to stockholders as part of the planned dissolution. Merrimack no longer conducts active research or development and is seeking potential acquirers for its remaining preclinical and clinical assets. Its wholly owned subsidiaries include Merrimack Pharmaceuticals UK Limited and Merrimack Securities Corporation. The company’s business strategy has shifted from active drug development to monetizing milestone payments from previous asset sales and managing dissolution proceedings.
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Merrimack Pharmaceuticals, Inc. Announces Stockholder Approval of Plan of Dissolution And Cash Liquidating Dividend Amount of $15.10 Per Share of Common Stock
Merrimack Pharmaceuticals Announces Notification of Plan to Voluntary Delist Common Stock on NASDAQ Subject to Receipt of Stockholder Approval of Plan of Dissolution
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Merrimack Reports Ipsen Announcement of Approval By The US FDA of Onivyde® (Irinotecan Liposome Injection) Plus 5 Fluorouracil/Leucovorin and Oxaliplatin (NALIRIFOX) as a First-Line Treatment for Metastatic Pancreatic Ductal Adenocarcinoma (mPDAC)
Merrimack Reports Third Quarter 2023 Financial Results
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