I noticed a block of about 2.4m shares paint the tape, and the stock moved up immediately following the trade. I count this as subtle but encouraging. I had owned a small number of shares and had been waiting for a reason to double-down. I did so yesterday. Still a small position for me, but I'll take a chance and follow the money here. Worst case scenario is we stay in the base.
As there were no news (positive or negative) I think it is technical. Stock has been forming a solid base around low $6. I would have liked to see much higher volume but lets see what Monday brings. If it sustains on higher volume then I'll call it a break -out, if not we may be testing the lows some more.
My concern with Mack is that they are spread to thin given their balance sheet. If the one pivotal trial they are in fails, I don't see how they can advance the current phase 2's to phase 3's without raising more cash. Couple that with a less than stellar history and there is likely a high level of dilution that curent shareholders will experience