Merrimack cancer drug fails mid-stage study, shares fall

Reuters

Oct 30 (Reuters) - Merrimack Pharmaceuticals Inc said its cancer drug failed to meet the main goal of a mid-stagestudy in patients with advanced ovarian cancers.

Shares of the company fell 10 percent in premarket trading.

The drug, used in combination with an approved chemotherapydrug, paclitaxel, failed to improve survival without the cancerprogressing in the overall patient population compared withpaclitaxel alone.

The combination also showed adverse events, including anincrease in incidence of diarrhea and vomiting compared withpaclitaxel alone.

The study tested the drug, codenamed MM-121, in patientswith metastatic or recurrent ovarian cancer, fallopian tubecancer or primary peritoneal cancer who were resistant toprevious treatment or did not respond to it.

Merrimack shares were down at $3.05 before the bell.

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