May 10, 2017 / 10:59 AM / 7 months ago

BRIEF-Merrimack reports Q1 loss per share $0.23

May 10 (Reuters) - Merrimack Pharmaceuticals Inc:

* Merrimack reports first quarter 2017 financial results

* Q1 loss per share $0.23

* Q1 earnings per share view $-0.11 -- Thomson Reuters I/B/E/S

* Merrimack Pharmaceuticals Inc - declares special cash dividend to stockholders of $140 million

* Merrimack Pharmaceuticals Inc - research and development expenses were $21.6 million for three months ended march 31, 2017, compared to $28.0 million

* Merrimack Pharmaceuticals Inc - on April 3, 2017, Merrimack received a $575.0 million upfront cash payment from IPSEN

* Merrimack Pharmaceuticals - if certain milestones are met pursuant to deal with shire,co expects to receive up to $33.0 million in net milestone payments

* Merrimack Pharmaceuticals- used proceeds to redeem $175 million in outstanding senior notes due in 2022, plus about $20 million of costs associated with redemption

* Merrimack - currently forecasted spending rates together with net milestone payments from Shire, will be sufficient to fund its operations into H2 of 2019

* Merrimack Pharmaceuticals Inc - has also invested $125.0 million in further development of its streamlined oncology pipeline Source text for Eikon: Further company coverage:

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