Merrimack Soars On Promising Data From Ipsen's NAPOLI-3 Trial

Merrimack Pharmaceuticals, Inc. (MACK), a biotech company, is currently up over 236% at $13.45.

The rise comes after Merrimack's French partner, Ipsen S.A. (IPSEY) reported positive results from the phase III NAPOLI 3 trial of Onivyde in combination with oxaliplatin and 5 fluorouracil/leucovorin (NALIRIFOX).

NAPOLI 3 is a randomized, open-label Phase III trial of NALIRIFOX in 770 previously untreated patients with metastatic Pancreatic Ductal Adenocarcinoma (mPDAC). NALIRIFOX was administered twice a month compared to an injection of nab-paclitaxel and gemcitabine administered three times a month.

The study met its primary endpoint demonstrating clinically meaningful and statistically significant improvement in overall survival compared to the comparator arm while also meeting its secondary efficacy outcome, with NALIRIFOX's progression-free survival (PFS) showing a significant improvement over the comparison.

Ipsen intends to present trial data at an upcoming medical conference.

Merrimack sold Onivyde to Ipsen in 2017 and is entitled to milestone payments of up to $450 million in contingent milestone payments.

MACK has traded in a range of $3.00 to $7.41 in the last 52 weeks. The stock closed Tuesday's trading at $4.00, up 8.07%.

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