Merrimack Pharmaceuticals Inc. (MACK) has released an update.
Merrimack Pharmaceuticals, Inc. has announced FDA approval of Onivyde as a first-line treatment for metastatic pancreatic cancer, leading to a $225 million milestone payment from Ipsen. Merrimack’s Board is considering a corporate dissolution and plans to distribute this payment and other assets to shareholders after expenses. They will seek shareholder approval at a special meeting in May 2024 and have noted that plans for dissolution could change if no longer deemed beneficial for shareholders.
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