NEW YORK, April 9, 2019 /CNW/ -- Pomerantz LLP is investigating claims on behalf of investors of Merrimack Pharmaceuticals, Inc. ("Merrimack" or the "Company") (NASDAQ: MACK). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 9980.
The investigation concerns whether Merrimack and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On April 4, 2019, Merrimack announced the discontinuation of work on its sole drug candidate in clinical trials, MM-310, citing safety issues. Despite amending the protocol for its Phase 1 study after observing and disclosing signs of peripheral neuropathy in clinical trial participants beginning in November, Merrimack reported that subjects taking MM-310 continued to experience weakness, numbness and extremity pain associated with peripheral neuropathy. On this news, Merrimack's stock price fell $1.18 per share, or 16.41%, to close at $6.01 per share on April 5, 2019.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com
Robert S. Willoughby
SOURCE Pomerantz LLP