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Selected Quarterly Financial Data (Unaudited) (Tables)
12 Months Ended
Dec. 31, 2016
Quarterly Financial Information Disclosure [Abstract]  
Schedule of Quarterly Financial Information

The following table contains quarterly financial information for 2016 and 2015. The Company believes that the following information reflects all normal recurring adjustments necessary for a fair statement of the information for the periods presented. The operating results for any quarter are not necessarily indicative of results for any future period.

 

 

First

Quarter

 

 

Second

Quarter

 

 

Third

Quarter

 

 

Fourth

Quarter

 

 

 

(in thousands, except per share data)

 

2016

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Product revenues, net

 

$

9,968

 

 

$

12,851

 

 

$

14,493

 

 

$

15,752

 

License and collaboration revenues

 

 

11,313

 

 

 

19,332

 

 

 

12,417

 

 

 

44,057

 

Other revenues

 

 

 

 

 

1,498

 

 

 

1,161

 

 

 

1,431

 

Cost of revenues

 

 

711

 

 

 

1,872

 

 

 

1,010

 

 

 

3,319

 

Research and development expenses

 

 

32,882

 

 

 

40,996

 

 

 

32,078

 

 

 

54,961

 

Selling, general and administrative expenses

 

 

17,795

 

 

 

20,680

 

 

 

18,048

 

 

 

24,206

 

Restructuring expenses

 

 

 

 

 

 

 

 

809

 

 

 

5,047

 

Net loss

 

 

(38,658

)

 

 

(50,958

)

 

 

(30,275

)

 

 

(33,627

)

Net loss attributable to Merrimack Pharmaceuticals, Inc.

 

 

(38,473

)

 

 

(50,750

)

 

 

(30,068

)

 

 

(32,449

)

Net loss per share available to common

   stockholders—basic and diluted

 

 

(0.33

)

 

 

(0.40

)

 

 

(0.23

)

 

 

(0.25

)

 

 

 

First

Quarter

 

 

Second

Quarter

 

 

Third

Quarter

 

 

Fourth

Quarter

 

 

 

(in thousands, except per share data)

 

2015

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Product revenues, net

 

$

 

 

$

 

 

$

 

 

$

4,328

 

License and collaboration revenues

 

 

14,842

 

 

 

36,558

 

 

 

16,440

 

 

 

17,090

 

Cost of revenues

 

 

 

 

 

 

 

 

 

 

 

46

 

Research and development expenses

 

 

35,679

 

 

 

42,806

 

 

 

37,763

 

 

 

44,740

 

Selling, general and administrative expenses

 

 

9,189

 

 

 

12,315

 

 

 

16,956

 

 

 

19,335

 

Net loss

 

 

(34,432

)

 

 

(22,901

)

 

 

(42,386

)

 

 

(48,068

)

Net loss attributable to Merrimack Pharmaceuticals, Inc.

 

 

(34,759

)

 

 

(22,778

)

 

 

(42,594

)

 

 

(47,826

)

Net loss per share available to common

   stockholders—basic and diluted

 

 

(0.32

)

 

 

(0.21

)

 

 

(0.38

)

 

 

(0.41

)