Merrimack Reports Third Quarter 2018 Financial Results and Provides Strategic Update Following Portfolio Review

PRNewswire

Nov 07, 2018

- Company to initiate corporate restructuring, including ~60% reduction in force and significant reduction in operating expenses; potential to extend runway into at least 2H 2022 to preserve ability to capture Ipsen milestones -

- Has engaged external advisors to evaluate strategic alternatives -

- Discontinuing development of all ongoing MM-121 programs based on interim results from Phase 2 SHERLOC study in non-small cell lung cancer (NSCLC), including termination of Phase 2 SHERBOC study in metastatic breast cancer -

- Will focus program spending on Phase 1 study of MM-310, with safety update anticipated in Q1 2019, and prudent advancement of two most promising preclinical candidates, MM-401 and MM-201 -

- Conference call at 8:30 am ET today -

PR Newswire

CAMBRIDGE, Mass., Nov. 7, 2018

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