Merrimack Pharmaceuticals, Inc. MACK announced encouraging data from a phase I investigator-sponsored study on its lead candidate MM-398 for the treatment of high-grade glioma.
The study consisted of two treatment arms – patients in arm 1 received dose increments of 120 mg/m2 in the range of 120 mg/m2 to 240 mg/m2, while those in arm 2 received dose increments of 60 mg/m2 in the range of 60 mg/m2 to 180 mg/m2. The median progression-free survival for patients who received an initial dose of MM-398 (at least 120 mg /m2) was 43 days. MM-398 was found to be well-tolerated in the patients.
Merrimack Pharma presented this data at the annual meeting of the American Society of Clinical Oncology (ASCO).
Meanwhile, a new investigator-sponsored phase I study is being conducted partly on the basis of data from the phase I study to assess the safety of highly concentrated MM-398 when administered by convection-enhanced drug delivery in recurrent high-grade glioma patients. In this study, MM-398 will be evaluated in combination with ProHance injection (an MRI agent to enable the real-time visualization of drug distribution in the brain). Up to 30 recurrent high-grade glioma patients are expected to be enrolled in this study.
We remind investors that Merrimack Pharma has a license and collaboration agreement with Baxter International BAX for the development and commercialization of MM-398 outside the U.S. and Taiwan. Merrimack Pharma and Baxter have filed for its approval for metastatic adenocarcinoma of the pancreas, in patients previously treated with Gemzar, in the U.S. and the EU, respectively. Merrimack Pharma has also requested the FDA for priority review status for MM-398.
Currently, Merrimack Pharma has no approved products in its portfolio. Since MM-398 is the most advanced candidate in the company’s pipeline, we expect investor focus to remain on updates on its development.
Merrimack Pharma carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the health care sector are Valeant Pharmaceuticals International, Inc. VRX and Actelion Ltd. ALIOF. Both carry a Zacks Rank #1 (Strong Buy).
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