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Last $11.64 USD
Change Today +0.39 / 3.47%
Volume 584.2K
MACK On Other Exchanges
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As of 1:53 PM 03/27/15 All times are local (Market data is delayed by at least 15 minutes).

merrimack pharmaceuticals in (MACK) Key Developments

Merrimack Pharmaceuticals, Inc. Presents at Barclays Global Healthcare Conference, Mar-10-2015 03:20 PM

Merrimack Pharmaceuticals, Inc. Presents at Barclays Global Healthcare Conference, Mar-10-2015 03:20 PM. Venue: Loews Miami Beach Hotel, 1601 Collins Avenue, Miami, Florida, United States. Speakers: Robert J. Mulroy, Chief Executive Officer, President, Executive Director and Member of Executive Committee.

Merrimack Pharmaceuticals Announces Consolidated Earnings Results for the Fourth Quarter Ended December 31, 2014

Merrimack Pharmaceuticals announced consolidated earnings results for the fourth quarter ended December 31, 2014. For the quarter, collaboration revenues were $33,905,000 against $7,823,000 a year ago. Loss from operations was $5,116,000 against $28,242,000 a year ago. Net loss attributable to the company was $9,696,000 against $33,059,000 a year ago. Basic and diluted net loss per share available to stockholders was $0.09 against $0.33 a year ago. For the year, collaboration revenues were $102,756,000 against $47,786,000 a year ago. Loss from operations was $66,256,000 against $120,540,000 a year ago. Net loss attributable to the company was $83,291,000 against $130,925,000 a year ago. Basic and diluted net loss per share available to stockholders was $0.80 against $1.32 a year ago. Net cash used in operating activities was $34,808,000 against $195,175,000 a year ago. This decrease in net loss was primarily attributable to four factors: $55.0 million increase in collaboration revenues primarily attributable to the accelerated recognition of revenue as a result of the termination of company's collaboration with Sanofi effective December 17, 2014, combined with the recognition of $10.5 million of revenue related to company's collaboration with Baxter; $8.6 million of decreased research and development expense primarily associated with wind-down and read-out of data from several clinical trials; $9.3 million of increased general and administrative expense primarily attributable to increased infrastructure and personnel costs as prepare for the potential commercialization of company's product candidates and increased facility-related costs; and $7.3 million of increased interest expense primarily attributable to a full year of interest expense being recorded related to the convertible senior notes issued in July 2013.

Merrimack Pharmaceuticals Announces Initiation of a Phase 2 Biomarker-Selected Clinical Trial of MM-121 in Patients with Heregulin Positive Non-Small Cell Lung Cancer

Merrimack Pharmaceuticals, Inc. announced the initiation of a global, open-label, biomarker-selected, randomized Phase 2 clinical trial of MM-121, a fully human monoclonal antibody targeting ErbB3, in combination with docetaxel or pemetrexed versus docetaxel or pemetrexed alone in patients with heregulin positive, locally advanced or metastatic non-small cell lung cancer. MM-121 is Merrimack's wholly owned, fully human monoclonal antibody that targets ErbB3, a cell surface receptor that is activated by the ligand heregulin. Heregulin-driven ErbB3 signaling has been implicated as a mechanism of tumor growth and resistance to targeted, cytotoxic and anti-endocrine therapies. When used in the combination setting, MM-121 is designed to block ErbB3 signaling in order to enhance the anti-tumor effect of a combination therapy partner. Merrimack is pursuing this study based on encouraging results from a broad MM-121 Phase 2 program which identified high heregulin levels as a potential prognostic factor of poor response to standard-of-care therapy across multiple cancers. The results also showed that patients with heregulin-high tumors experienced a longer time to progression when they received a combination of MM-121 with their standard-of-care therapy as compared to patients who received the standard therapy alone. Across the three different standard-of-care combination regimens, a consistent safety profile demonstrated a modest yet tolerable increase in adverse events. As part of this trial, Merrimack expects to enroll approximately 120 heregulin positive patients that will be randomized (2:1) to receive either MM-121 plus the investigator's choice of docetaxel or pemetrexed, or the investigator's choice of docetaxel or pemetrexed alone. Eligible patients for the trial must have failed prior treatment with no more than two lines of therapy for locally advanced or metastatic disease. The primary endpoint of the trial is progression free survival (PFS). Secondary endpoints include overall survival, objective response rate, safety and tolerability. Merrimack plans to conduct the trial at sites in the United States, Canada and Europe. Initial trial sites located at the Horizon Oncology Center in Lafayette, Indiana and Northwestern Medicine Developmental Therapeutics Institute in Chicago, Illinois are now open to screen patients in the United States.

Merrimack Pharmaceuticals, Inc. to Report Q4, 2014 Results on Feb 26, 2015

Merrimack Pharmaceuticals, Inc. announced that they will report Q4, 2014 results at 9:00 AM, Eastern Standard Time on Feb 26, 2015

Merrimack Pharmaceuticals, Inc., Q4 2014 Earnings Call, Feb 26, 2015

Merrimack Pharmaceuticals, Inc., Q4 2014 Earnings Call, Feb 26, 2015

 

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