Merrimack Pharmaceuticals Inc to Issue — Dividend of $0.50 (NASDAQ:MACK)

Merrimack Pharmaceuticals Inc (NASDAQ:MACK) declared a — dividend on Wednesday, December 4th, Wall Street Journal reports. Shareholders of record on Monday, December 16th will be given a dividend of 0.50 per share by the biopharmaceutical company on Monday, December 23rd. The ex-dividend date is Friday, December 13th.

NASDAQ MACK traded up $0.26 during trading hours on Wednesday, reaching $4.38. 157,200 shares of the company traded hands, compared to its average volume of 61,573. Merrimack Pharmaceuticals has a 12 month low of $3.51 and a 12 month high of $7.50. The company has a 50 day moving average of $3.96 and a two-hundred day moving average of $5.35.

Separately, ValuEngine raised shares of Merrimack Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Friday, November 1st.

About Merrimack Pharmaceuticals

Merrimack Pharmaceuticals, Inc operates as a clinical stage biopharmaceutical company that targets biomarker-defined cancers. The company is developing MM-310, an antibody-directed nanotherapeutic, which is in Phase I clinical trial to treat patients with solid tumors. Its preclinical product candidates include MM-401, an agonistic antibody targeting a novel immuno-oncology target; and MM-201, a stabilized agonist-Fc fusion protein targeting death receptors 4 and 5.

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