Biotech Sector Witnessing Growing Revenue Potential in Ongoing Battle Against Pancreatic Cancer
Merrimack Pharmaceuticals, Inc. (NASDAQ:MACK) is still reaping the drug's benefit despite being a shuttered drug company with no employees or any active research programs. As Ipsen prepares to file a supplemental New Drug Application (sNDA) for pancreatic cancer, Merrimack saw its shares soar toward a 4.5-year high on account of future cash payments that were contingent on Onivyde winning additional regulatory approvals. As the Centers for Disease Control and Prevention reports cancer deaths trending downward, there have been modest improvements in survival for pancreatic cancer, thanks to developments from the biotech sector from innovators such as Oncolytics Biotech Inc. (NASDAQ:ONCY) (TSX:ONC), Mirati Therapeutics, Inc. (NASDAQ:MRTX), Amgen Inc. (NASDAQ:AMGN), and Seagen Inc. (NASDAQ:SGEN).
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VANCOUVER, BC, Nov. 15, 2022 /PRNewswire/ -- Roughly five years after selling its flagship cancer asset Onivyde from to French biotech giant Ipsen S.A. for approximately $1 billion, Merrimack Pharmaceuticals, Inc. (NASDAQ:MACK) is still reaping the drug's benefit despite being a shuttered drug company with no employees or any active research programs. As Ipsen prepares to file a supplemental New Drug Application (sNDA) for pancreatic cancer, Merrimack saw its shares soar toward a 4.5-year high on account of future cash payments that were contingent on Onivyde winning additional regulatory approvals. As the Centers for Disease Control and Prevention reports cancer deaths trending downward, there have been modest improvements in survival for pancreatic cancer, thanks to developments from the biotech sector from innovators such as Oncolytics Biotech Inc. (NASDAQ:ONCY) (TSX:ONC), Mirati Therapeutics, Inc. (NASDAQ:MRTX), Amgen Inc. (NASDAQ:AMGN), and Seagen Inc. (NASDAQ:SGEN).
For Oncolytics Biotech Inc. (NASDAQ:ONCY) (TSX:ONC) a catalyst event may be on the horizon sparked by promising data sets coming from the company's flagship asset pelareorep.
The optimism comes from statistically significant results from Oncolytics Biotech's ongoing multi-indication phase 1/2 GOBLET study, patients treated with a combination of pelareorep, with chemotherapy (gemcitabine, and nab-paclitaxel) and atezolizumab.
