Merrimack makes ready

Merrimack Pharmaceuticals Inc. set its IPO range last week - the cancer company is hoping to sell 16.7 million shares at $8-$10. A $9 price would raise $150 million and value Merrimack at $852.8 million.

The last company to cross the $800 million post-money mark was genome sequencing company Pacific Biosciences of California Inc. (NASDAQ:PACB), which raised $200 million in its October 2010 IPO and had a post-money valuation of $801.8 million...