IPSEY - Merrimack Pharma jumps 42% on bullish timeline for potential Onivyde milestone payment

Thinly traded nano cap Merrimack Pharmaceuticals ([[MACK]] +42.2%) rallies on a whopping 309x surge in volume in apparent response to a corporate presentation yesterday by Ipsen S.A. ([[IPSEY]]).In the R&D section, management presented an update (slide 42) on Onivyde (irinotecan liposome injection) in second-line small cell lung cancer ((SCLC)). Results from the first part of a Phase 2/3 study, RESILIENT, were consistent with data presented in September 2019 at the World Conference on Lung Cancer in Barcelona.The overall response rate ((ORR)) was 44% (n=11/25), including one complete responder. Seven patients showed stable cancer implying a disease control rate ((DCR)) of 72% (n=18/25).The Phase 3 portion is ongoing with topline results expected in 2022. Investors appear to be reacting to its statement that preliminary data should be available next quarter which, according to discussions with the FDA, may support accelerated review of a marketing application that could be filed in H2

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Merrimack Pharma jumps 42% on bullish timeline for potential Onivyde milestone payment