Merrimack CEO, CFO bow out, months after last clinical drug fizzles
Two months ago, Merrimack was forced to abandon its last drug in clinical trials, after an early-stage study showed that treatment with the drug, MM-310, was cumulatively toxic to patients, despite trial protocol amendments. On Monday, the ex-Sanofi executive the Cambridge, Massachusetts-based company ushered in 2017 to revive its fortunes departed.
In 2015, Merrimack $MACK secured FDA approval for its pancreatic cancer drug — Onivyde, which had a disappointing debut. It was sold to Ipsen in 2017, in parallel to a restructuring, which culminated in a new CEO — Richard Peters — a slimmer workforce and three pipeline prospects: MM-141, MM-121 and MM-310. Each of these drugs has now been relegated to the scrap heap.
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