Merrimack may raise $40 million through at-the-market stock offering

Proceeds will help fund operations into second quarter of 2016

By Angela McDaniels

Tacoma, Wash., July 13 – Merrimack Pharmaceuticals, Inc. will sell up to $40 million of common through an at-the-market offering. Cowen and Co., LLC is the sales agent.

Cowen will receive a 3% fee, according to an 8-K filing with the Securities and Exchange Commission.

Proceeds will be used to help fund the company’s operations, including continued investment in its research and development pipeline, into the second quarter of 2016.

Cambridge, Mass.-based Merrimack is developing therapeutics paired with companion diagnostics for the treatment of cancer.

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