Bed, Bath & Beyond, Merrimack Pharma surge in premarket

September 24, 2014 12:28 PM

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Bed, Bath & Beyond, Merrimack Pharma surge in premarket

NEW YORK (Reuters) - Merrimack Pharmaceuticals shares were surging in premarket trade, up 24.5 percent to $8.95 after the company said it reached a deal to develop and market Merrimack's pancreatic cancer drug outside the U.S. with Baxter International.

Merrimack said it would receive a $100 million upfront payment from Baxter and could earn up to $120 million more in milestone payments for the drug.

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