Merrimack Pharmaceuticals Announces Positive MM-398 Results and AT&T May Acquire DIRECTV
Merrimack Pharmaceuticals, Inc. (NASDAQ: MACK) announced that MM-398, the company's late-stage pancreatic cancer therapy that is given to patients who've previously been treated with Gemzar, had met its primary endpoint of overall survival. The company issued a press release stating that the combination of MM-398 with 5-flouroacil and leucovorin delivered an overall survival of 6.1 months, which was an improvement of 1.9 months compared to the placebo of 5-flouroacil and leucovorin alone which achieved only 4.2 months of overall survival. Furthermore, a hazard ratio of 0.67 implied a 33% death risk reduction for the MM-398 intent-to-treat arm as well as a "significant advantage" for progression-free survival. Merrimack intends to file a new drug application for MM-398 before 2014 is over.
Merrimack Pharmaceuticals, Inc., a biopharmaceutical company, is engaged in discovering, developing, and preparing to commercialize medicines paired with companion diagnostics for the treatment of cancer primarily in the United States. Its therapeutic oncology candidates in clinical development include MM-398, a stable nanotherapeutic encapsulation of the chemotherapy drug irinotecan, which is in multiple ongoing Phase I, Phase II, Phase III clinical trials for the treatment of various cancers; MM-121, a human monoclonal antibody that targets the ErbB3 cell surface receptor, which is in multiple ongoing Phase I and Phase II clinical trials to inhibit cancer growth directly; and MM-111, a bispecific antibody that is in multiple ongoing Phase I and Phase II clinical trials to inhibit ErbB3 signaling in cancer cells that are characterized by overexpression of the ErbB2 cell surface receptor.
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DIRECTV (NASDAQ: DTV) has been approached by AT&T about a possible takeover, according to The Wall Street Journal. If the two companies were to join forces, they would have nearly 26 million satellite or landline subscribers combined. The Journal reports that talks began after Comcast (CMCSA) and Time Warner Cable (TWC) announced their deal, a deal that would have 30 million subscribers.
DIRECTV provides digital television entertainment services in the United States and Latin America. The company acquires, promotes, sells, and distributes digital entertainment programming primarily through satellite to residential and commercial subscribers. It provides direct-to-home digital television services; and multi-channel video programming distribution (MVPD) services. The company also provides collection of programming in the MVPD industry, including approximately 195 high-definition (HD) and television channels, as well as two 3D channels; and offers video-on-demand (VOD) services under the DIRECTV CINEMA name, which provides a selection of approximately 12,000 movie and television programs to its broadband-connected subscribers.
Get more information on DIRECTV and free access to the in depth equity report at: www.TrendingWallStreet.com/stockquote/DTV
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