Is today’s surge in Merrimack Pharmaceuticals ($MACK) justified ?
Merrimack Pharmaceuticals ($MACK) is currently trading at $11.94, a gain of over+$7.94 (+198.50%). MACK had good news this morning and is running like a train out of control, crushing bears along the way. Back in 2017, Ipsen had gained exclusive commercialization rights for the current and potential future indications of Merrimack’s pancreatic cancer drug Onivyde.
MACK is surging today after Ipsen SA (OTC: IPSEY) announced that the Phase 3 NAPOLI 3 trial of Onivyde plus 5 fluorouracil/leucovorin and oxaliplatin (NALIRIFOX regimen) met its primary endpoint. The combination therapy demonstrated a clinically meaningful and statistically significant improvement in overall survival compared to nab-paclitaxel plus gemcitabine in 770 previously untreated patients with metastatic pancreatic ductal adenocarcinoma (mPDAC).
For the uninitiated, As per the report published by The Brainy Insights, the global pancreatic cancer market is expected to grow from USD 3.43 billion in 2021 to USD 6.93 billion by 2030, at a CAGR of 8.13% during the forecast period 2022-2030 (1). Merrimack is eligible for up to $450 Million in milestone payments for the pancreatic cancer treatment.
Some of other biotech stocks to keep on radar include:
Catalyst Pharmaceuticals (CPRX)
Vertex Pharmaceuticals (VRTX)
Harmony Biosciences (HRMY)
Neurocrine Biosciences (NBIX)
For news on Biotech Stocks, please visit Biopharmajournal.com
Source 1: https://www.globenewswire.com/news-release/2022/10/27/2542488/0/en/Pancreatic-Cancer-Market-Size-to-Reach-USD-6-93-Billion-by-2030-Says-The-Brainy-Insights.html
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