Merrimack Pharmaceuticals Inc (NASDAQ:MACK) Reports Management Change

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Merrimack Pharmaceuticals Inc (NASDAQ:MACK) reported the resignation of Dr. Yasir Al-Wakeel as Head of Corporate Development and Chief Financial Officer, effective June 9, 2017, as he looks to pursue other business interest. He has been with company since August 2015. The company has started a search to engage a new chief financial officer.

Richard Peters, M.D., Ph.D., the CEO and President, reported that he would like to appreciate Dr. Al-Wakeel for his vital contributions throughout his role at the firm and especially for his contributions to the firm’s transaction and refocused strategy with Ipsen.

As part of Merrimack’s ongoing plans to strengthen its management team, the company has started a search for a replacement with demonstrated expertise to continue establishing sustained financial support for diverse and deep preclinical and clinical stage pipeline. Peters added that he is confident that their experienced leadership team will warrant a smooth transition as they continue the development of their promising therapeutic candidates.

The buzz

Merrimack is a biopharmaceutical entity based in Cambridge that is outthinking cancer to certify that patients and their families have fulfilling lives. Its objective is to transform cancer care via the smart design and advancement of targeted offerings grounded on the extensive understanding of cancer trails and biological markers.

All of Merrimack’s offerings, comprising three in clinical studies and many others in preclinical advancement, fit into its plan of comprehending the biological concerns it is trying to solve, designing detailed solutions and advancing those solutions for biomarker-selected subjects. This three-pronged plan seeks to achieve optimal patient outcomes.

The first quarter of 2017 was exception for Merrimack. Following its pipeline prioritization and the strategic assessment of business, it emerged with clear objectives as a refocused research and clinical advancement firm. It outlined three promising clinical programs on which the company will focus its development measures in coming period.

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