Investors in the cancer-focused biotech had to stomach a 47% decline during the year, according to data from S&P Global Market Intelligence . That was a far worse decline than the 17% pullback that was rung up by the First Trust NYSE Arca Biotech ETF As the chart above indicates, Merrimack’s stock gave its investors a wild ride during 2016.
Category: Pancreatic Cancer
Merrimack Soars on $1 Billion Sale of Cancer Drugs to Ipsen
The Nasdaq-listed cancer drugs developer is up 43% in pre-market trading after promising shareholders special dividends worth more than its closing share price on Friday. Nasdaq-listed Merrimack Pharmaceuticals agreed to sell oncology treatments, including its pancreatic-cancer treatment Onivyde, to French drugmaker Ipsen for as much as $1.05 billion, including benchmark payments.