Merrimack Pharmaceuticals, Inc. (MACK) Financial Statements (2023 and Earlier)
Company Profile
| Business Address |
ONE BROADWAY CAMBRIDGE, MA 02142 |
| State of Incorp. | DE |
| Fiscal Year End | December 31 |
| Industry (SIC) | 2834 - Pharmaceutical Preparations (benchmarking) |
| More info | Complete financial analysis Financial benchmarking |
Balance Sheet (Statement of Financial Position) ($ in thousands)
| 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | 12/31/2016 | 12/31/2015 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments, including: | 14,200 | 14,000 | 16,600 | 71,300 | 93,441 | 21,524 | 185,606 | ||
| Cash and cash equivalents | 14,203 | 14,038 | 16,580 | 20,079 | 93,441 | 21,524 | 185,606 | ||
| Short-term investments | 51,199 | ||||||||
| Other undisclosed cash, cash equivalents, and short-term investments | (3) | (38) | 20 | 22 | |||||
| Restricted cash and investments | 584 | 102 | 102 | 101 | |||||
| Receivables | 100 | 17,469 | 6,483 | ||||||
| Inventory, net of allowances, customer advances and progress billings | 14,554 | 3,717 | |||||||
| Inventory | 14,554 | 3,717 | |||||||
| Other undisclosed current assets | 483 | 2,544 | 2,092 | 4,218 | 1,403 | 3,786 | 5,487 | ||
| Total current assets: | 14,683 | 16,544 | 18,692 | 76,102 | 95,046 | 57,435 | 201,394 | ||
| Noncurrent Assets | |||||||||
| Property, plant and equipment | 2,269 | 6,467 | 15,765 | 21,915 | |||||
| Long-term investments and receivables | 7,428 | 10,551 | |||||||
| Long-term investments | 7,428 | 10,551 | |||||||
| Intangible assets, net (including goodwill) | 7,582 | 10,960 | |||||||
| Goodwill | 3,605 | 3,605 | |||||||
| Intangible assets, net (excluding goodwill) | 3,977 | 7,355 | |||||||
| Restricted cash and investments | 674 | 674 | 584 | ||||||
| Other noncurrent assets | 66 | 232 | 1,390 | 2,744 | 4,588 | 27 | 27 | ||
| Total noncurrent assets: | 66 | 232 | 1,390 | 12,441 | 22,280 | 24,048 | 33,486 | ||
| TOTAL ASSETS: | 14,749 | 16,776 | 20,082 | 88,543 | 117,326 | 81,483 | 234,880 | ||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts payable and accrued liabilities, including: | 562 | 770 | 2,714 | 13,677 | 17,606 | 49,982 | 52,082 | ||
| Accounts payable | 120 | 123 | 271 | 1,034 | 2,887 | 3,384 | 5,049 | ||
| Accrued liabilities | 167 | 194 | 372 | 2,082 | 5,663 | 15,760 | 14,295 | ||
| Employee-related liabilities | 2,315 | 2,884 | 9,150 | 9,009 | |||||
| Taxes payable | 83 | ||||||||
| Interest and dividends payable | 19 | 2,119 | 3,060 | ||||||
| Other undisclosed accounts payable and accrued liabilities | 275 | 453 | 2,071 | 8,163 | 6,153 | 19,569 | 20,669 | ||
| Deferred rent credit | 1,118 | ✕ | ✕ | ✕ | |||||
| Deferred revenue and credits | ✕ | ✕ | ✕ | ✕ | 2,171 | 38,240 | 51,664 | ||
| Other liabilities | 56 | ||||||||
| Total current liabilities: | 562 | 770 | 2,770 | 14,795 | 19,777 | 88,222 | 103,746 | ||
| Noncurrent Liabilities | |||||||||
| Long-term debt and lease obligation | 14,873 | 216,861 | 257,655 | ||||||
| Long-term debt, excluding current maturities | 14,873 | 216,861 | 257,655 | ||||||
| Liabilities, other than long-term debt | 56 | 1,265 | 29,059 | 56,123 | |||||
| Deferred revenue and credits | ✕ | ✕ | ✕ | ✕ | 1,209 | 29,059 | 56,123 | ||
| Other liabilities | 56 | 56 | |||||||
| Other undisclosed noncurrent liabilities | 1,045 | ||||||||
| Total noncurrent liabilities: | 14,929 | 1,265 | 245,920 | 314,823 | |||||
| Total liabilities: | 562 | 770 | 2,770 | 29,724 | 21,042 | 334,142 | 418,569 | ||
| Stockholders' equity | |||||||||
| Stockholders' equity attributable to parent | 14,187 | 16,006 | 17,312 | 58,819 | 96,284 | (251,120) | (183,928) | ||
| Common stock | 1,334 | 1,334 | 1,334 | 1,334 | 1,334 | 1,302 | 1,159 | ||
| Additional paid in capital | 558,945 | 558,309 | 556,587 | 580,771 | 577,721 | 702,377 | 617,145 | ||
| Accumulated other comprehensive loss | (9) | ||||||||
| Accumulated deficit | (546,092) | (543,637) | (540,609) | (523,277) | (482,771) | (954,799) | (802,232) | ||
| Stockholders' equity attributable to noncontrolling interest | (1,539) | 239 | |||||||
| Total stockholders' equity: | 14,187 | 16,006 | 17,312 | 58,819 | 96,284 | (252,659) | (183,689) | ||
| TOTAL LIABILITIES AND EQUITY: | 14,749 | 16,776 | 20,082 | 88,543 | 117,326 | 81,483 | 234,880 | ||
Income Statement (P&L) ($ in thousands)
| 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | 12/31/2016 | 12/31/2015 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 4,910 | 1,703 | 144,273 | 89,258 | ||||
| Revenue, net | ✕ | ✕ | ✕ | ✕ | 144,273 | 89,258 | ||
| Gain on disposition of assets for financial service operations | 4,910 | ✕ | ✕ | ✕ | ||||
| Financial services revenue | ✕ | ✕ | ✕ | ✕ | 1,703 | |||
| Cost of revenue | (6,912) | (46) | ||||||
| Gross profit: | 4,910 | 1,703 | 137,361 | 89,212 | ||||
| Operating expenses | (2,472) | (2,873) | (22,359) | (65,575) | (105,287) | (247,502) | (218,783) | |
| Other undisclosed operating income (loss) | (4,910) | 7,818 | ||||||
| Operating loss: | (2,472) | (2,873) | (22,359) | (65,575) | (95,766) | (110,141) | (129,571) | |
| Nonoperating income (expense) | 20 | (141) | (381) | (2,887) | 10,310 | 268 | 1,016 | |
| Investment income, nonoperating | 20 | 50 | 777 | 1,299 | 11,743 | 276 | 99 | |
| Other nonoperating income (expense) | (191) | 370 | (3,230) | (1,433) | (8) | 917 | ||
| Interest and debt expense | (971) | (956) | (34,650) | (43,645) | (19,232) | |||
| Loss from continuing operations before equity method investments, income taxes: | (2,452) | (3,014) | (23,711) | (69,418) | (120,106) | (153,518) | (147,787) | |
| Other undisclosed income from continuing operations before income taxes | 971 | 956 | 1,703 | |||||
| Loss from continuing operations before income taxes: | (2,452) | (3,014) | (22,740) | (68,462) | (118,403) | (153,518) | (147,787) | |
| Income tax expense (benefit) | (3) | (14) | 1,473 | 7,695 | 42,399 | |||
| Loss from continuing operations: | (2,455) | (3,028) | (21,267) | (60,767) | (76,004) | (153,518) | (147,787) | |
| Income from discontinued operations | 3,935 | 20,261 | 546,872 | |||||
| Net income (loss): | (2,455) | (3,028) | (17,332) | (40,506) | 470,868 | (153,518) | (147,787) | |
| Net income (loss) attributable to noncontrolling interest | 1,160 | 1,778 | (170) | |||||
| Net income (loss) available to common stockholders, diluted: | (2,455) | (3,028) | (17,332) | (40,506) | 472,028 | (151,740) | (147,957) | |
Comprehensive Income ($ in thousands)
| 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | 12/31/2016 | 12/31/2015 | ||
|---|---|---|---|---|---|---|---|---|
| Net income (loss): | (2,455) | (3,028) | (17,332) | (40,506) | 470,868 | (153,518) | (147,787) | |
| Comprehensive income (loss): | (2,455) | (3,028) | (17,332) | (40,506) | 470,868 | (153,518) | (147,787) | |
| Comprehensive income (loss), net of tax, attributable to noncontrolling interest | 1,160 | 1,778 | (170) | |||||
| Other undisclosed comprehensive income (loss), net of tax, attributable to parent | 9 | (9) | 74 | |||||
| Comprehensive income (loss), net of tax, attributable to parent: | (2,455) | (3,028) | (17,323) | (40,515) | 472,028 | (151,740) | (147,883) | |
Statements Sources
The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.