Search the web
Welcome, Guest
[Sign Out, My Account]

Quotes & Info
Enter Symbol(s):
e.g. YHOO, ^DJI
Symbol Lookup | Financial Search
MACK > SEC Filings for MACK > Form 8-K on 19-Jun-2014All Recent SEC Filings




Termination of a Material Definitive Agreement

Item 1.02. Termination of a Material Definitive Agreement.

On June 17, 2014, Merrimack Pharmaceuticals, Inc. ("Merrimack") and Sanofi agreed to terminate the License and Collaboration Agreement, dated as of September 30, 2009 and amended on February 18, 2011, between the parties (the "Agreement"). The Agreement had established a worldwide collaboration between the parties for the development and commercialization of Merrimack's MM-121 product candidate.

In connection with the termination of the Agreement, among other things:

Sanofi delivered to Merrimack one-hundred eighty (180) days' advance notice of termination of the Agreement. As a result, the Agreement is scheduled to terminate on December 17, 2014 unless Merrimack exercises its right to accelerate such date;

Sanofi will transfer ownership of the investigational new drug application for MM-121 to Merrimack in early July 2014, earlier than otherwise required; and

Merrimack waived Sanofi's obligation to reimburse Merrimack for certain MM-121 development costs incurred after December 17, 2014.

Based on information provided in a Schedule 13G filed by Sanofi on April 2, 2012, Sanofi holds 5,217,391 shares, or approximately 5.0%, of Merrimack's outstanding common stock. In addition, Merrimack and Sanofi are parties to a right of review agreement, which is described in Merrimack's Annual Report on Form 10-K for year ended December 31, 2013.

  Add MACK to Portfolio     Set Alert         Email to a Friend  
Get SEC Filings for Another Symbol: Symbol Lookup
Quotes & Info for MACK - All Recent SEC Filings
Copyright © 2015 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service
SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All information provided "as is" for informational purposes only, not intended for trading purposes or advice. Neither Yahoo! nor any of independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. By accessing the Yahoo! site, you agree not to redistribute the information found therein.