Key Developments: Merrimack Pharmaceuticals Inc (MACK.W)
23 May 2013
Latest Key Developments (Source: Significant Developments)
Merrimack Pharmaceuticals Inc Announces Top-Line Results From Single Arm Phase 2 Advanced Lung Cancer Study In Patients With Resistance To Anti-EGFR Tyrosine Kinase Inhibitor
Merrimack Pharmaceuticals Inc announced that one cohort of a Phase 2 non-small cell lung cancer (NSCLC) study did not meet primary endpoint. The cohort evaluated MM-121 in combination with erlotinib to treat patients with NSCLC whose disease progressed on an anti-EGFR tyrosine kinase inhibitor (EGFR-TKI). MM-121 is being evaluated in two additional NSCLC cohorts as well as Phase 2 studies for the treatment of advanced ovarian cancer, hormone-receptor positive breast cancer and HER2 negative breast cancer. The primary objective of this 50 patient, single arm study was to determine the potential of MM-121, a signaling inhibitor targeting ErbB3, to modulate or reverse resistance to erlotinib, an EGFR targeted therapy, commonly used in the treatment of NSCLC, in patients who have acquired resistance to EGFR-TKI therapy. The primary endpoint of this cohort was to obtain a 40% progression free survival rate at four months of treatment. Secondary endpoints included biomarker assessment of patients enrolled in the study. A secondary objective of the study was to evaluate tissue samples from patient biopsies to assess whether the biomarker hypothesis behind MM-121 could be translated into a clinical setting. In order to conduct this analysis, pre-dose biopsies were required from each patient upon entering the study. Full Article
Merrimack Pharmaceuticals Inc announced the pricing of its initial public offering of 14,300,000 shares of its common stock at $7.00 per share, before underwriting discounts and commissions. All of the shares in the offering are being sold by Merrimack. The underwriters also have an option for a period of 30 days to purchase up to 2,145,000 additional shares of common stock from Merrimack to cover over-allotments, if any. Merrimack's common stock has been approved for listing on the NASDAQ Global Market and is expected to begin trading under the symbol MACK on March 29, 2012. J.P. Morgan Securities LLC is acting as sole book-running manager for the offering. BofA Merrill Lynch is acting as lead-manager for the offering, and Cowen and Company, LLC and Oppenheimer & Co. Inc. are acting as co-managers for the offering. Full Article
NEW YORK, May 22 - Little known biotechnology company Merrimack Pharmaceuticals Inc has quietly built a large pipeline of experimental cancer treatments that it aims to deliver at a fraction of the cost spent by larger rivals.