Merrimack Pharmaceuticals, Inc. (MACK - Free Report) is a Cambridge, MA-based development-stage biopharmaceutical company focused on developing innovative therapies in combination with companion diagnostics for the treatment of cancer.
Merrimack divested its only marketed product, Onivyde, last year to Ipsen. It received $575 million in cash from the asset divestiture. The company also received an additional $18 million milestone payment from Shire from the sale of Onivyde in two major European Countries.
With the sale of Onivyde, Merrimack is back to being a development-stage biopharmaceutical company. Hence, it now focuses on the development of its two early-stage pipeline candidates, namely MM-121/seribantumab and MM-310 (solid tumor).
The company’s track record has been mixed so far, with the company beating estimates in two of the last four quarters and missing the same twice, with an average positive earnings surprise of 11.90%.
Currently, Merrimack has a Zacks Rank # 3 (Hold), but that could definitely change following the company’s earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: Merrimack posted wider-than-expected loss in the second quarter of 2018. While our consensus called for a loss of $1.28 per share, the company reported a loss of $1.33.
Revenues: In the second quarter of 2018, the company did not recognize any revenues.
Other Update: The company received an additional $18 million milestone payment from Shire from the sale of Onivyde in two major European Countries. It also received $14.7 million debt facility from Hercules Capital. Merrimack expects this milestone payment and the loan to effectively fund current operating plans for at least till the first-quarter of 2020.
Share Price Impact: The shares were up marginally in pre-market trading.
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Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
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It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
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Merrimack Pharmaceuticals, Inc. (MACK - Free Report) is a Cambridge, MA-based development-stage biopharmaceutical company focused on developing innovative therapies in combination with companion diagnostics for the treatment of cancer.
Merrimack divested its only marketed product, Onivyde, last year to Ipsen. It received $575 million in cash from the asset divestiture. The company also received an additional $18 million milestone payment from Shire from the sale of Onivyde in two major European Countries.
With the sale of Onivyde, Merrimack is back to being a development-stage biopharmaceutical company. Hence, it now focuses on the development of its two early-stage pipeline candidates, namely MM-121/seribantumab and MM-310 (solid tumor).
The company’s track record has been mixed so far, with the company beating estimates in two of the last four quarters and missing the same twice, with an average positive earnings surprise of 11.90%.
Currently, Merrimack has a Zacks Rank # 3 (Hold), but that could definitely change following the company’s earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: Merrimack posted wider-than-expected loss in the second quarter of 2018. While our consensus called for a loss of $1.28 per share, the company reported a loss of $1.33.
Revenues: In the second quarter of 2018, the company did not recognize any revenues.
Other Update: The company received an additional $18 million milestone payment from Shire from the sale of Onivyde in two major European Countries. It also received $14.7 million debt facility from Hercules Capital. Merrimack expects this milestone payment and the loan to effectively fund current operating plans for at least till the first-quarter of 2020.
Share Price Impact: The shares were up marginally in pre-market trading.
The Hottest Tech Mega-Trend of All
Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
See Zacks' 3 Best Stocks to Play This Trend >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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