Merrimack Pharma (MACK) Declares Approximately $0.50 Special Dividend; Approximately 13.3% Yield

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Go back to Merrimack Pharma (MACK) Declares Approximately $0.50 Special Dividend; Approximately 13.3% Yield

Merrimack Receives $5 Million Milestone Payment from Ipsen; Declares $6.7 Million Special Dividend

December 3, 2019 8:45 AM EST

CAMBRIDGE, Mass.--(BUSINESS WIRE)-- Merrimack Pharmaceuticals, Inc. (Nasdaq: MACK) today announced that it received a $5 million milestone payment from Ipsen, triggered by Ipsens decision to progress the ongoing multi-part clinical trial evaluating ONIVYDE in patients with small-cell lung cancer into the second randomized portion of the trial focused on efficacy assessment. As a result of this milestone payment, Merrimacks Board of Directors has authorized and declared a special cash dividend of $6.7 million on the Companys common stock (the Special Dividend).

The Special Dividend is payable on December 23, 2019 to... More