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LONDON, UK / ACCESSWIRE / November 1, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for Merrimack Pharmaceuticals, Inc. (NASDAQ: MACK) ("Merrimack"), following which we have published a free report that can be viewed by signing up at http://protraderdaily.com/optin/?symbol=MACK. The Company announced on October 30, 2017, that the US Food and Drug Administration (FDA) has granted orphan drug designation to MM-121, its investigational drug candidate, for the treatment of heregulin positive non-small cell lung cancer. Subject to approval, this designation includes eligibility for a seven-year period of marketing exclusivity for MM-121 along with other development assistance and financial incentives. For immediate access to our complimentary reports, including today's coverage, register for free now at:

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Discover more of our free reports coverage from other companies within the Biotechnology industry. Pro-TD has currently selected Seattle Genetics, Inc. (NASDAQ: SGEN) for due-diligence and potential coverage as the Company reported on October 26, 2017, its financial results for Q3 2017 which ended on September 30, 2017. Tune in to our site to register for a free membership, and be among the early birds that get our report on Seattle Genetics when we publish it.

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Merrimack Looking Forward to Expand MM-121 Development to Biomarker-Selected Population of Breast Cancer Patients

Sergio Santillana, M.D., MSc, Chief Medical Officer of Merrimack, stated that the Company is pleased to have access to additional support from the FDA in the clinical development of MM-121 in non-small cell lung cancer. Merrimack is dedicated to designing and developing novel precision therapeutics that shape treatment strategies for patients, and its randomized Phase-2 clinical trial of MM-121 in heregulin positive non-small cell lung cancer is well underway. Sergio added that the Company is looking forward to expanding the development of MM-121 to a biomarker-selected population of breast cancer patients later this year.

MM-121 Evaluation in SHERLOC and SHERBOC Trial

MM-121 is currently being evaluated in the SHERLOC study, a global randomized Phase-2 study that will assess progression-free survival of MM-121 in combination with docetaxel versus docetaxel alone. The study is enrolling patients with heregulin positive non-small cell adenocarcinoma of the lung who have progressed after a platinum-containing regimen and may have received anti PD-1 or anti-PD-L1 therapy. Top-line data are expected in second half of 2018.

The Company will be evaluating MM-121 in the SHERBOC trial, a global randomized Phase-2, double-blind, placebo-controlled clinical study of MM-121 added to standard of care in patients with heregulin positive, hormone receptor positive, HER2 negative metastatic breast cancer. The first patient is expected to be dosed in the SHERBOC study by the end of 2017.

FDA Granted Fast Track Designation for MM-121 in Non-Small Cell Lung Cancer

According to a news release, the FDA granted in July 2016 Fast Track designation to MM-121 for development in patients with heregulin-positive, locally advanced or metastatic non-small cell lung cancer (NSCLC) whose disease had progressed following immunotherapy. OOPD provides incentives for sponsors to develop products for rare diseases.

FDA's Orphan Drug Designation

The FDA's orphan drug designation (OOPD) is granted to drugs and biologics intended to treat rare diseases or conditions with a prevalence of fewer than 200,000 people in the US.

What is MM-121?

MM-121 (seribantumab) is a fully human monoclonal antibody designed to block tumor survival signals and enhance the anti-tumor effect of combination therapies by targeting the cell surface receptor HER3 (ErbB3) in patients with high expression of the biomarker heregulin.MM-121 is currently being tested in combination with docetaxel or pemetrexed in a phase-2 study of patients with non-small cell lung cancer.

About Merrimack Pharmaceuticals, Inc.

Founded in 2000, Merrimack Pharma is a fully integrated biopharmaceutical company that views cancer as a complex engineering challenge. Through systems biology, which brings together the fields of biology, computing, and engineering, the Company aims to decrease uncertainty in drug development and clinical validation. Merrimack Pharma is based in Cambridge, Massachusetts

Last Close Stock Review

At the close of trading session on Tuesday, October 31, 2017, Merrimack Pharma's stock price slightly declined 0.68% to end the day at $11.74. A total volume of 134.06 thousand shares were exchanged during the session. At Tuesday's closing price, the stock's net capitalization stands at $157.32 million.

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