 Merrimack Pharmaceuticals, Inc. MACK the Company or Merrimack, announced today that its Board of Directors the Board has adopted a Section 382 net operating loss rights plan the Plan and declared a dividend distribution of one Preferred Share Purchase Right on each outstanding share of Company common stock. The Plan is designed to protect the Companys ability to use its valuable net operating loss NOL carryforwards and certain other valuable tax attributes. Preservation of our NOL carryforwards is a key element of our strategic plan and may be used to offset potential corporate tax payments related to future milestones in order to maximize shareholder value, said Gary Crocker, CEO of the Company. 