SEC Filing | Merrimack Pharmaceuticals
Summary
The special dividend resulted in a decrease to additional paid-in capital.We previously devoted substantially all our resources to our drug discovery and development efforts, including conducting clinical trials for our product candidates, protecting our intellectual property and providing general and administrative support for these operations. The special dividend resulted in a decrease to additional paid-in capital.We previously devoted substantially all of our resources to our drug discovery and development efforts, including conducting clinical trials for our product candidates, protecting our intellectual property and providing general and administrative support for these operations. On May 30, 2019, we announced the completion of our review of strategic alternatives, following which our board of directors implemented a series of measures designed to extend our cash runway into 2027 and preserve our ability to capture the potential milestone payments resulting from the Ipsen sale. Upon retirement or sale, the cost of assets disposed of and the related accumulated depreciation are removed from the accounts and any resulting gain or loss is reflected in earnings.As part of the process of preparing financial statements, the Company is required to estimate accrued expenses. T hese options were amended to decrease the exercise price and increase the shares subject to the stock option.The calculation of the incremental compensation expense is based on the excess of the fair value of the award measured immediately before and after the modification.
Funding
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