Cantor Comments On Merrimack Pharmaceuticals Following Analyst Day


In a research report issued today, Cantor analyst Daniel Brims reiterated a Buy rating on Merrimack Pharmaceuticals (NASDAQ:MACK) with a price target of $16.00, as the company held an analyst day on Thursday, December 18th, in New York to discuss its clinical programs and commercial strategy for MM-398.

Brims observed, “Based on the NAPOLI-1 trial, MACK will be filing an NDA with the FDA for treatment of pancreatic cancer in the post-gemcitabine setting, which is currently occupied by FOLFOX. We believe the ‘398 regimen will gain penetration by providing patients with increased survival and also a more benign safety profile with lower incidence of peripheral neuropathy. We expect launch by YE:15 with priority review.”

Furthermore the analyst noted, “MACK has been seeking a new partner for ‘121 since Sanofi returned the drug in June. We believe negotiations have been frustrated by the apparent failure of the phase 2 trials in ovarian, lung, and breast cancers (though in the pre-defined heregulin population, patients did experience a significant clinical benefit in PFS with a hazard”

According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Daniel Brims has a total average return of 13.4% and a 53.8% success rate. Brims has a 45.9% average return when recommending MACK, and is ranked #1031 out of 3420 analysts.

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