Investor Relations (IR) Questions: Merrimack Pharmaceuticals MACK
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Answers received: May 2013
1) When is the last time MACK raised cash through an offering (diluted)? The company raised $106M In our IPO in March 2012.
2) How much cash (not cash equivalents) does MACK have? As of 12/31/12, the company’s cash, cash equivalents, and marketable securities was approximately $110M.
3) What and approximately when is the next known catalyst? As stated on our Q4 2012 earnings call, the company expects to announce top line data from 5 clinical trials in the second half of 2013.
4) What is MACK's quarterly cash burn? As we stated on our Q4 earnings call,we expect our unrestricted cash and cash equivalents,
available for sale securities on hand as of December 31, 2012 and partnership reimbursements to be sufficient to fund operations into 2014.
5) Does MACK have an existing line of credit and if so how much can they draw against it? In November 2012 the company closed a $40 million facility. Under this agreement, Merrimack received an initial loan advance of $25 million at closing. In December 2012, the company elected to draw down on the remaining $15 million.
Best regards,
Geoff
Geoffrey M. Grande
Merrimack Pharmaceuticals
1) When is the last time MACK raised cash through an offering (diluted)? The company raised $106M In our IPO in March 2012.
2) How much cash (not cash equivalents) does MACK have? As of 12/31/12, the company’s cash, cash equivalents, and marketable securities was approximately $110M.
3) What and approximately when is the next known catalyst? As stated on our Q4 2012 earnings call, the company expects to announce top line data from 5 clinical trials in the second half of 2013.
4) What is MACK's quarterly cash burn? As we stated on our Q4 earnings call,we expect our unrestricted cash and cash equivalents,
available for sale securities on hand as of December 31, 2012 and partnership reimbursements to be sufficient to fund operations into 2014.
5) Does MACK have an existing line of credit and if so how much can they draw against it? In November 2012 the company closed a $40 million facility. Under this agreement, Merrimack received an initial loan advance of $25 million at closing. In December 2012, the company elected to draw down on the remaining $15 million.
Best regards,
Geoff
Geoffrey M. Grande
Merrimack Pharmaceuticals