Merrimack Pharmaceuticals reported that, effective immediately, its Board of Directors has appointed Noah G. Levy, of Newtyn Management, and Eric D. Andersen, of Western Standard, to the Board, pursuant to a cooperation agreement. Levy and Andersen, the Board will nominate five directors for election at the 2019 Annual Meeting of Shareholders (the 2019 Annual Meeting), which is scheduled for October 17, 2019. Levy and Andersen have agreed to waive compensation for their Board service. It also provides that the Board will form a Committee on Strategy and Expenses, chaired by Levy, that will focus on cost containment, continued NOL safeguarding and milestone payment and shareholder distribution maximization.