Merrimack Pharmaceuticals Inc. board has decided not to sell the company outright or any of its assets as it could not reach acceptable terms with potential buyers.
- Company says had contacted over 100 potential companies
- Board concludes best outcome available for shareholders is to restructure company so that its cash runway could extend into 2027; board authorizes a special cash dividend
- Company to sell anti-Her3 monoclonal antibody programs MM-121 and MM-111 for up to $58m, consisting of $3.5m cash upfront and up to $54.5m in contingent milestone payments
- Target closing date June 24 contingent upon the completion of a successful ...
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