Merrimack Pharmaceuticals, Inc. - MACK STOCK NEWS

Merrimack Pharmaceuticals, Inc. announced a planned liquidating cash dividend of $15.10 per share, contingent on stockholder approval of the Plan of Dissolution at a meeting on May 10, 2024. The dividend is set to be paid around May 17, 2024, with potential for higher or lower distributions depending on future developments. The company also hinted at possible additional distributions based on certain agreements. Stockholders are advised to review the definitive proxy statement for more details.

Merrimack Pharmaceuticals announced its intention to voluntarily delist its common stock on NASDAQ, contingent upon stockholder approval of the Plan of Dissolution. The company plans to issue an initial liquidating cash dividend in the range of $14.92 to $15.15 per share, subject to approval. The record date for stockholders to receive the dividend is May 10, 2024, with the stock to go ex-dividend on May 15, 2024. If the Plan of Dissolution is not approved, regular trading will continue. The company urges investors to review the Proxy Statement filed with the SEC for more information.

Merrimack Pharmaceuticals, Inc. announces a special meeting of stockholders to approve a Plan of Dissolution after receiving a $225 million payment from Ipsen, S.A. for FDA approval of ONIVYDE. The company anticipates an initial liquidating dividend of $14.68 to $15.30 per share.

Merrimack Pharmaceuticals, Inc. announces FDA approval for Onivyde as a first-line treatment for metastatic pancreatic ductal adenocarcinoma, triggering a $225 million payment from Ipsen. The company expects to hold a special meeting to approve a Plan of Dissolution and a liquidating dividend. Financially, Merrimack reported a net loss of $1.2 million for 2023, with $18.9 million in cash and investments as of December 31, 2023.

Merrimack Pharmaceuticals, Inc. (MACK) receives a $225 million milestone payment from Ipsen following the FDA approval of Onivyde for metastatic pancreatic cancer. The company plans a special stockholder meeting to approve a dissolution plan, aiming to issue a liquidating dividend estimated between $14.65 and $15.35 per share.

Merrimack Pharmaceuticals, Inc. (Nasdaq: MACK) reported a net loss of $279 thousand for Q3 2023, compared to a net loss of $442 thousand in Q3 2022. General and administrative expenses were $531 thousand. As of September 30, 2023, Merrimack had $18.9 million in short term investments and cash and cash equivalents. Ipsen's Onivyde® program is under review by the FDA with a goal date of February 13, 2024. Elevation Oncology is pausing further investment in seribantumab development.

Merrimack Pharmaceuticals, Inc. (Nasdaq: MACK) announced its second quarter 2023 financial results, reporting a net loss of $391 thousand. Ipsen's FDA acceptance of Onivyde as a first-line treatment for metastatic pancreatic ductal adenocarcinoma could entitle Merrimack to a $225 million milestone payment. The company had cash, cash equivalents, and short-term investments of $19.0 million as of June 30, 2023.

Merrimack Pharmaceuticals (NASDAQ: MACK) reported a net loss of $1.5 million or $0.11 per share for 2022, improving from a loss of $2.5 million in 2021. The company anticipates sufficient cash to operate beyond 2027, aided by a $6.5 million influx from stock options. Notably, Ipsen's NAPOLI 3 trial showed promising results for Onivyde in treating metastatic pancreatic ductal adenocarcinoma, aiming for a supplemental FDA application. However, setbacks in small cell lung cancer trials could hinder future milestone payments. Merrimack's cash reserves totaled $19.4 million at year-end.