Merrimack jumps on MM-398 data

Merrimack Pharmaceuticals Inc. (NASDAQ:MACK) jumped $2.60 (59%) to $6.99 on Thursday after reporting that MM-398 plus chemotherapy as second-line treatment for pancreatic cancer met the primary overall survival (OS) endpoint vs. chemotherapy alone in the Phase III NAPOLI-1 trial. MM-398 every two weeks in combination with 5-fluorouracil (5-FU) and leucovorin led to an OS of 6.1 months vs. 4.2 months for chemotherapy alone (p=0.012). The combination arm also met the secondary endpoint of improving progression-free survival (PFS) vs. chemotherapy alone. MM-398 every three weeks as monotherapy missed the OS endpoint (4.9 vs. 4.2 months, p=0.942). The open-label trial enrolled 417 patients who failed prior gemcitabine-based therapy. Data are slated to be presented at the European Society for Medical Oncology meeting in June.

This year, Merrimack plans to submit an NDA to FDA for MM-398 in combination with 5-FU and leucovorin to treat metastatic pancreatic cancer. The company is developing MM-398, a nanoparticle liposome formulation of irinotecan, with PharmaEngine Inc. (GreTai:4162), which has rights in Taiwan. PharmaEngine was off NT$6.50 to NT$251 on Thursday. The data were released after market close in Taiwan. ...