Merrimack’s FDA Approval Milestone and Scheduled Dissolution Vote

An update from Merrimack Pharmaceuticals Inc. (MACK) is now available.

Merrimack Pharmaceuticals, Inc. has announced a significant milestone with a $225 million payment from Ipsen, S.A. after receiving FDA approval to market ONIVYDE for pancreatic cancer. In light of this, a Special Meeting is scheduled for May 10, 2024, for stockholders to vote on the company’s dissolution and a proposed liquidating dividend, expected to be between $14.68 and $15.30 per share. Merrimack is also establishing a liquidating trust for stockholders to handle any future payments stemming from its agreements with Ipsen and Elevation Oncology, although further milestone payments are considered unlikely.

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