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Merrimack Pharmaceuticals, Inc. (MACK) Message Board

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  • crkenmore crkenmore Sep 27, 2012 7:01 PM Flag

    Burn and Need

    I believe that your comments about cash burn and the need to secure additional funding combined with an increase of 71 million newly tradable shares this week on a base of 14.3 million IPO shares is providing a significant overhang. Now add in the reasonable likelihood of a secondary to finance their continuing cash burn and the stock may have greater near term risk of trading lower and longer term opportunities for appreciation. Mack shares could trade down to the 50 day SMA of $ 8.10, or even break the August 22 low of $ 7.28 if very promising results are not reported " in a week or so when the Phase I results for two of their lead products are announced at the European Society of Medical Oncology conference." Even if the results are positive the large share overhang and prospect of a near term secondary are existent.

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