Merrimack Pharmaceuticals, Inc. Reports Earnings Results for the First Quarter Ended March 31, 2023

Merrimack Pharmaceuticals, Inc. is a biopharmaceutical company. The Company does not have any ongoing research or development activities and is seeking potential acquirers for its remaining preclinical and clinical assets. The Company is entitled to receive contingent payments related to its sale of ONIVYDE to Ipsen S.A. and also its contingent payments related to its sale of MM-121 and MM-111 to Elevation Oncology, Inc. Its payments are payable by Ipsen upon approval by the United States Food and Drug Administration (FDA) of ONIVYDE for certain additional clinical indications. ONIVYDE is approved by the FDA in combination with fluorouracil (5-FU) and leucovorin (LV) for the treatment of patients with metastatic adenocarcinoma of the pancreas after disease progression following gemcitabine-based therapy. The Company’s wholly owned subsidiaries include Merrimack Pharmaceuticals UK Limited and Merrimack Securities Corporation.