Merrimack Pharma (MACK) Misses Q2 EPS by 5c

Merrimack Pharma (NASDAQ: MACK) reported Q2 EPS of ($1.33), $0.05 worse than the analyst estimate of ($1.28).

"A cornerstone of Merrimack\'s approach to drug development is our commitment to test targeted therapies in biomarker-enriched patient populations, resulting in smaller, shorter and more personalized studies that lower development costs and accelerate the timeframe to clinically meaningful data. This quarter, we have continued to demonstrate prudent adherence to this clinical strategy," said Richard Peters, M.D., Ph.D., President and Chief Executive Officer. "Additionally, we are pleased to have strengthened our financial position with non-dilutive sources of capital, including an $18 million milestone announced today and the $15 million debt facility we closed in July, which we believe extend our cash runway into at least the first quarter of 2020 and position us to deliver on our corporate goals. Looking ahead, we anticipate significant progress across our pipeline, with two clinical readouts expected in the second half of 2018 from MM-121 in non-small cell lung cancer and MM-310 in solid tumors."

For earnings history and earnings-related data on Merrimack Pharma (MACK) click here.

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