Merrimack mauled by MM-310 discontinuation
Shares in oncology specialist Merrimack Pharmaceuticals closed 16% down on Friday after the US company announced that it was discontinuing development of MM-310, its antibody-directed nanotherapeutic for the treatment of solid tumors.
A safety update from a Phase I study showed that, despite the trial protocol being amended, it was unable to reach optimal therapeutic index for MM-310 due to continued observation of cumulative peripheral neuropathy.
Merrimack has terminated the study and expects to initiate a workforce reduction as it closes out clinical activities, reflective of its narrowed preclinical pipeline and in line with prior cost-cutting measures
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