Benzinga | Dec 2, 2020 02:06PM EST

Why Merrimack's Stock Is Trading Higher Today

Merrimack Pharmaceuticals (NASDAQ:MACK) shares were trading higher on Wednesday in response to a corporate medical presentation given by Ipsen S.A. on Tuesday.

Seeking Alpha said in the R&D section, management presented relevant updates (slide 42) on Onivyde (irinotecan liposome injection) in second-line small cell lung cancer (SCLC).

Merrimack is a biotechnology company that discovers, develops, and commercializes innovative medicines that consist of novel therapeutics paired with diagnostics to treat cancer. The company's core approach to systems biology is to apply multidisciplinary capabilities to build functional and predictive computational models of biological systems, such as cell signaling networks.

Merrimack Pharmaceuticals shares were trading up 65.69% at $6.76. The stock has a 52-week high of $6.95 and a 52-week low of $1.49.