XML 27 R4.htm IDEA: XBRL DOCUMENT v3.7.0.1
Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Costs and expenses:        
Research and development expenses $ 19,751 $ 27,695 $ 41,356 $ 55,697
General and administrative expenses 14,798 8,138 20,432 14,590
Total costs and expenses 34,549 35,833 61,788 70,287
Loss from continuing operations (34,549) (35,833) (61,788) (70,287)
Other income and expenses:        
Interest income 382 122 396 194
Interest expense (26,762) (15,858) (28,741) (19,148)
Gain on sale of asset 1,703   1,703  
Other expense, net (659) (64) (661) (107)
Net loss from continuing operations before income tax benefit (59,885) (51,633) (89,091) (89,348)
Income tax benefit 30,239   30,239  
Net loss from continuing operations (29,646) (51,633) (58,852) (89,348)
Discontinued operations:        
Income (loss) from discontinued operations, net of tax 540,485 675 539,538 (268)
Net income (loss) 510,839 (50,958) 480,686 (89,616)
Net loss attributable to non-controlling interest (724) (208) (1,191) (393)
Net income (loss) attributable to Merrimack Pharmaceuticals, Inc. 511,563 (50,750) 481,877 (89,223)
Other comprehensive income (loss):        
Unrealized gain on available-for-sale securities   15   1
Other comprehensive loss   15   1
Comprehensive income (loss) 511,563 (50,735) 481,877 (89,222)
Amounts attributable to Merrimack Pharmaceuticals, Inc.:        
Net loss from continuing operations (28,922) (51,425) (57,661) (88,955)
Income (loss) from discontinued operations, net of tax 540,485 675 539,538 (268)
Net income (loss) attributable to Merrimack Pharmaceuticals, Inc. $ 511,563 $ (50,750) $ 481,877 $ (89,223)
Basic and dilutive net income (loss) per common share        
Net loss from continuing operations $ (0.22) $ (0.41) $ (0.44) $ (0.74)
Net income (loss) from discontinued operations, net of tax 4.08 0.01 4.10 0.00
Net income (loss) per share $ 3.86 $ (0.40) $ 3.66 $ (0.74)
Weighted-average common shares used per share calculations—basic and diluted 132,457 126,161 131,528 121,112
Cash dividend paid per common share $ 1.055   $ 1.055