MACK - Merrimack Pharmaceuticals Offers Significant And Uncorrelated Upside Potential
Overview
Merrimack Pharmaceuticals, Inc. ([[MACK]]) (“MACK” or the “Company”) is a clinical-stage biopharmaceutical company focused on oncology drugs. Recently, through the help of some engaged shareholders, management shuttered its development operations by selling its portfolio of approved and developing drugs to Ipsen ([[IPSEY]]) and 14ner Oncology, while retaining the milestone payments rights. The milestone payment rights remaining in the company are linked to the ONIVYDE and anti-Her3 compounds, which have maximum payouts of $450 million and $54.5 million, respectively. We viewed the strategy shift as a tremendous opportunity, and other investors seem to have taken