Merrimack Pharmaceuticals Inc (NASDAQ:MACK) To Release 1Q2017 Financials On May 10, 2017


Merrimack Pharmaceuticals Inc (NASDAQ:MACK) has announced that it would be holding an investor conference call, to discuss its financial results for the 1Q2017, on May 10, 2017, at 8:30 am, ET. The call would be available via webcast as well. The company has stated that it would discuss the progress it has made thus far, since the start of the year. MACK has also stated that it would issue a press release, earlier during the day, which would include the information to be discussed during the call.

In an earlier press release, the company announced that it has appointed Daryl Drummond, Ph.D, as the head of research. Merrimack noted that Dr. Drummond is a pioneer in the field of nano-therapeutics and has held a number of leadership roles, within the company. Most recently he was serving as a VP, at MACK and was responsible for the oversight of Merrimack’s early stage pipeline. Dr. Drummond is also credited as being an integral part of ONIVYDE’s discovery and development process. ONIVYDE was recently sold to Ipsen for $1.025 billion.

Richard Peters, the CEO of Merrimack, claimed that Dr. Drummond’s exceptional track record and leadership skills are exactly what they need at this stage. He pointed out that the company was in the process of developing drug candidates to help patients fight cancer. The CEO further revealed that the new head of research would be responsible for oversight of a team of scientists, with the aim of generating critical data, for candidates that show promise. The candidates include drugs from Merrimack’s preclinical pipeline, which also consists of antibodies, as well as antibody-directed therapeutics.

Dr. Drummond joined MACK in 2009, when his previous company, Hermes BioSciences, was acquired by Merrimack. At Hermes, he was serving as the director of Liposome Research and Development.

Merrimack Pharmaceuticals Inc (NASDAQ:MACK) did not record a change in its share value, despite having a trade volume of 1.23 million, during the May 4 trading session, to close at $3.3 per share.