Russell Microcap Index component
|Founded||2000 in Cambridge, Massachusetts|
Number of employees
Merrimack's first FDA-approved drug was approved in 2015; Onivyde, a liposome encapsulated version of irinotecan is used for treating pancreatic adenocarcinoma. It was approved for use in the European Union the following year.
In 2016, Merrimack had 426 full-time employees, 103 of which had an MD or PhD.
In October 2016, CEO Robert Mulroy resigned and the company announced they would be laying off 20% of its employees. In January 2017, interim CEO Gary Crocker resigned and the board of directors appointed Richard Peters to be president and CEO. Peters previously worked at Sanofi and was a faculty member at Harvard University.
On November 13, 2018, the statistical programming director Songjiang Wang, received "six months in prison and one year supervised released" after a guilty verdict was handed down to Wang from a United States District Judge in July 2018 for securities fraud and conspiracy to commit securities fraud. Also on December 20, 2019, the United States Securities and Exchange Commission charged Wang with Insider trading.
Merrimack has four drugs in clinical development.