Well, I for one am not surprised by the sudden movement in the price.
The shorts have been waiting for an opportunity to knock the price down and now they are at it big time. Many of them felt that the stock price would go down around the lock up but the run to 11 caught them---and everyone else---by surprise. Now there is no mega buyer out there and the selling pressure they exert goes unchallenged.
Happily none of this has anything to do with the company. The Phase I results on MM121 and MM111 were very solid and showed clear clinical effect. That's actually huge but no one really gets that just yet because they think, 'Hey, it's only Phase I'. Well, I should point out that to see efficacy in highly resistant cancers(most of the patients in both trials had had four or more rounds of chemo already) in Phase I trial is just about as wonderful a result as you could hope for. Merrimack has proven that the the novel target they have chosen matters and that their drugs work well on it. They are in the lead on Erb 3 target much the way Genentech was with Erb 2 all those years ago. Look what happened to them.
So if you're worried about the company I don't think you should be, but if you are upset about the price that's only human. Hang in there, this is a terrific company with a great future and if you want to enjoy what I believe will be a great 2013-15 and beyond just have to ignore the volatility and stay the course.
Women Review Debate 3, Governor Mitt Romney Pasted The Test, Ready to Lead USA
By USA_Jewish_Women 10 22 2012
Debate 3: Women's Review: President Obama Was Arrogant, Disrespectfully Angry Condescending to Governor Mitt Romney on Oct 22, 2012.
Mitt Romney's Stunning turnaround in these past 3 debates
Obama has lost support among Jewish women voters.
Most Jews are Turn Against Obama across the 50 states,
A Jewish Women Focus Group of 7,890 on October 22, 2012
President Obama Was arrogant, angry, disrespectfully, condescending and much to aggressive, did not look very presidential at all.
Governor Mitt Romney looked much more presidential, ready to be commander-in-chief. America he said, needs a strong economy in order to have a strong military for our National Security now and in the future.
We came away from this debate with a very good impression of Mitt Romney, in that he would be a “ a safe pair of hands.”
We feel he’s tough enough to do what’s necessary, but laid-back enough not to do too much and get us into another war. Romney did not attack President Obama's policies, he simply pointed out a few improvements in a respectable way.
During the debate Governor Mitt Romney seemed more like the president and Barack Obama more like the candidate and challenger.
Governor Mitt Romney was calm, thoughtful, relaxed, steady and looked very presidential. He looked and acted ready to take the job as commander-in-chief. Expressed his views on Iran's Nuclear threat and the USA support of Israel, our good friend and ally.
He impressed us tonight, in that a vote for him is a vote for American security, peace and safety, a strong economy, a strong military, millions of higher paying jobs, prosperity and quiet peaceful life for us and our families.
The world is much to scary these days; Americans aren’t looking for a scary weak president.
Tonight we came away with the feeling that President Obama is more the scary one, in America's weaken relationship with Israel, a closer to Nuclear Iran, our weak economy and the huge 16 Trillion Dollars in Debt, that in itself Threatens our National Security.
We can not afford four more years of president Obama's spending and borrowing another 5 or 6 trillion dollars from countries like China. Our jewish women's focus group therefore endorse Governor Mitt Romney for the next president of the United States of America.
Obama's Re-Election is very questionable. Vote for Mitt Romney and Paul Ryan
XXXcetera, congrats you just described 99% of small-cap/development stage biotech. If you dont want to play in the sandbox where those attributes are typical, stick to CELG, GILD, AMGN, REGN, ONXX et al (most of which at one point in their lives "hadn't brought any products to market and burned cash like crazy."
I completely agree. I must admit, had I know about the Lock Up I probably wouldn't have bought. that said, I was trying to get ahead of the Phase 1 presentation for MM-121/11, which surprisingly, despite the results, had no effect. I'm still learning about Erb3 but everything I have read about this company has me excited for 2013/2014. The pullback is actually a good thing, since I am a small investor I can continue to add to my position next year. I understand the risk and how early they are in development (398 aside - I'm not really interested) but excited about the Network Biology platform. If you are a day trader, I'm not, any opinion on where this settles after the Lock Up washes out? I hate to comment against my best interest but I wouldn't be surprised for the slide to continue.
on the flip side...
I think $12 is a fair risk reward ratio following the positive P1 data and assuming further dilution of $1-2 a share.