Merrimack Says Ipsen's FDA Approval Of Onivyde sNDA Triggers $225M Payment From Ipsen to Merrimack
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Merrimack Pharmaceuticals announced that Ipsen's FDA approval of the supplemental New Drug Application (sNDA) for Onivyde has triggered a $225 million payment from Ipsen to Merrimack. This milestone payment is part of the terms agreed upon in the licensing deal between the two companies.
February 13, 2024 | 9:24 pm
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Merrimack Pharmaceuticals is set to receive a $225 million payment from Ipsen following the FDA's approval of the sNDA for Onivyde. This payment is a significant financial milestone for Merrimack and reflects positively on its licensing agreement with Ipsen.
The FDA's approval of the sNDA for Onivyde not only validates the drug's potential but also triggers a substantial milestone payment to Merrimack from Ipsen. This influx of cash is likely to have a positive impact on Merrimack's financial health and could potentially influence its stock price in the short term. The direct financial benefit and the validation of Merrimack's licensing agreement with Ipsen contribute to the positive outlook.
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