Merrimack Pharmaceuticals Inc. (MACK) reported that its fourth-quarter net loss attributable to the company widened to $24.77 million from $18.12 million in the same quarter last year. On a per share basis, net loss was $0.26, compared to $1.76 in the prior year.
Collaboration revenues for the quarter rose to $14.19 million from $12.58 million in the year ago quarter.
The company expects its existing unrestricted cash and cash equivalents and available-for-sale securities on hand as of December 31, 2012 of $110.0 million, anticipated interest income and research and development and manufacturing funding under its license and collaboration agreement with Sanofi related to MM-121 to be sufficient to fund operations into 2014.
Analysts polled by Thomson Reuters expected the company to report a loss of $0.26 per share on revenues of $11.77 million for the quarter. Analysts' estimates typically exclude special items.
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