Merrimack Pharmaceuticals, Inc. (NASDAQ:MACK) Files An 8-K Termination of a Material Definitive Agreement
Item 1.02. Termination of a Material Definitive Agreement.

On February 6, 2017, Merrimack Pharmaceuticals, Inc. (the “Company”) terminated the Consulting and Confidentiality Agreement, dated as of October 3, 2016, between the Company and Robert Mulroy, the Company’s former President and Chief Executive Officer, to which Mr. Mulroy had been available to assist Gary Crocker, the Company’s interim President and Chief Executive Officer, with the leadership transition of the Company. Such termination was made in connection with Richard Peters, M.D., Ph.D., becoming the Company’s President and Chief Executive Officer on February 6, 2017, and was without cause (as defined in the Consulting and Confidentiality Agreement). As a result of such termination without cause, all unvested equity awards held by Mr. Mulroy immediately vested and will remain exercisable for either 60 days or three months in accordance with the applicable equity plans and award agreements. Such immediately vested equity awards have exercise prices ranging from $5.02 to $9.08.

Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

The information contained in Item 1.02 above is incorporated herein by reference.

About Merrimack Pharmaceuticals, Inc. (NASDAQ:MACK)

Merrimack Pharmaceuticals, Inc. is a biopharmaceutical company. The Company is engaged in discovering, developing and commercializing medicines consisting of therapeutics paired with companion diagnostics for the treatment of cancer. Its therapeutic oncology candidates in clinical development include MM-398, MM-302, MM-121, MM-141 and MM-151. Its ONIVYDE (irinotecan liposome injection), also known as MM-398, is an encapsulation of the marketed chemotherapy drug irinotecan in a liposomal formulation. MM-302 is an antibody drug conjugated liposomal doxorubicin that targets the ErbB2 (HER2) receptor. MM-121 is a fully human monoclonal antibody that targets Erb-B2 Receptor Tyrosine Kinase 3 (ErbB3). MM-141 is a fully human tetravalent bispecific antibody designed to block tumor survival signals by targeting receptor complexes. MM-151 is an oligoclonal therapeutic designed to bind to non-overlapping epitopes of EGFR (ErbB1).

Merrimack Pharmaceuticals, Inc. (NASDAQ:MACK) Recent Trading Information

Merrimack Pharmaceuticals, Inc. (NASDAQ:MACK) closed its last trading session up +0.03 at 3.17 with 1,346,385 shares trading hands.