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Last $10.50 USD
Change Today +0.07 / 0.67%
Volume 2.6M
MACK On Other Exchanges
As of 8:10 PM 08/28/15 All times are local (Market data is delayed by at least 15 minutes).

merrimack pharmaceuticals in (MACK) Snapshot

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merrimack pharmaceuticals in (MACK) Details

Merrimack Pharmaceuticals, Inc., a biopharmaceutical company, engages 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 nanotherapeutic encapsulation of the chemotherapy drug irinotecan, which is has completed Phase III clinical trials for the treatment of patients with metastatic pancreatic cancer whose cancer had progressed on treatment with the chemotherapy drug gemcitabine; in a Phase I clinical trial as a monotherapy in patients with glioma and in combination with cyclophosphamide in patients with pediatric solid tumors; and in a Phase 1 translational clinical trial designed to identify predictive biomarkers associated with MM-398. The company’s therapeutic oncology candidates also include MM-302 that is in Phase II clinical trial for the treatment of patients with ErbB2 (HER2)-positive, locally advanced or metastatic breast cancer; MM-121, which is in Phase II clinical trial for the treatment of patients with heregulin positive, advanced non-small cell lung cancer, as well as ovarian, breast, and non-small cell lung cancers; and MM-111 that is in a Phase II clinical trial for the treatment of patients with advanced gastric, esophageal, and gastroesophageal junction cancers. In addition, its therapeutic oncology candidates consist of MM-151 and MM-141, which are in Phase I clinical trials for the treatment of patients with solid tumors. The company has collaboration and license agreements with Baxter International Inc., Baxter Healthcare Corporation, Baxter Healthcare SA, Actavis, Sanofi, PharmaEngine, Inc., Dyax Corp., Adimab LLC, and University of California. Merrimack Pharmaceuticals, Inc. was incorporated in 1993 and is headquartered in Cambridge, Massachusetts.

306 Employees
Last Reported Date: 02/27/15
Founded in 1993

merrimack pharmaceuticals in (MACK) Top Compensated Officers

Chief Executive Officer, President, Executive...
Total Annual Compensation: $527.3K
Head of Corporate Operations
Total Annual Compensation: $351.7K
Head of Commercial and President of Merrimack...
Total Annual Compensation: $305.7K
Head of Finance and Accounting
Total Annual Compensation: $293.9K
Compensation as of Fiscal Year 2014.

merrimack pharmaceuticals in (MACK) Key Developments

Merrimack Pharmaceuticals Announces Unaudited Consolidated Earnings Results for the Second Quarter Ended June 30, 2015

Merrimack Pharmaceuticals announced unaudited consolidated earnings results for the second quarter ended June 30, 2015. For the quarter, the company's net loss attributable widened to $22.9 million or $0.21 per basic and diluted share from a loss of $18.3 million or $0.17 per basic and diluted share a year earlier. Sales rose to $36.6 million from $27.8 million a year ago. Revenue for the second quarter of 2015 was $36.6 million compared with revenue of $27.8 million for the second quarter of 2014, an increase of $8.7 million or 31%. This increase was attributable to $36.6 million of revenue recognized related to Merrimack's collaboration with Baxalta during the second quarter of 2015, including $20.0 million of non-recurring revenue recognized related to a milestone that was achieved when the European Medicines Agency (EMA) accepted for review a Marketing Authorization Application (MAA) filed by Baxalta for MM-398. This increase was offset by $27.8 million of decreased revenue due to the termination of Merrimack's collaboration with Sanofi effective December 17, 2014. Loss from operations was $18.563 million against $13.901 million a year ago. Net cash used in operating activities was $24.578 million against $32.833 million a year ago.

Merrimack Pharmaceuticals, Inc. Announces Management Changes

Merrimack Pharmaceuticals, Inc. announced that Yasir Al-Wakeel, MA, BM BCh will be appointed Chief Financial Officer and head of Corporate Development on August 11, 2015. Dr. Al-Wakeel will serve a key role in continuing to build Merrimack into a fully integrated cancer company based on a systems engineering approach. A physician by training, Dr. Al-Wakeel joins the company from Credit Suisse where he focused on biotechnology as a Director on the healthcare investment banking team. William Sullivan will assume the role of head of Finance and Accounting. As a member of the management team, Mr. Sullivan will continue to play a key strategic role in operations and in preparing for the potential commercialization of MM-398. The addition of Dr. Al-Wakeel continues the company's expansion of its leadership team over the past several months to prepare for the transition into a commercial entity. Birgit Schoeberl, PhD, was named the company's head of Discovery. In addition, the company have brought on four new board members: John Dineen, former CEO of GE Healthcare; Vivian Lee, MD, PhD, CEO of University of Utah Health Care and Dean of the University of Utah School of Medicine; Ulrik Nielsen, PhD, Merrimack co-founder and CEO of Torque Pharmaceuticals; and Russ Ray, former Managing Director and Global Co-Head of Healthcare Investment Banking at Credit Suisse First Boston.

Merrimack Pharmaceuticals, Inc., Q2 2015 Earnings Call, Aug 10, 2015

Merrimack Pharmaceuticals, Inc., Q2 2015 Earnings Call, Aug 10, 2015


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