Mack Beats on Revenues, Met expectation on earnings, has funding through 2014
Stocks down, What's up with that? Must be a low float. Maybe trying to shake weak hands out. Maybe manipulation. maybe a bounce off lows, or maybe investors are impatient. Maybe its just a lack of investors playing the markets. Any thoughts?
I have a small feeler position, but there wasn't any really new pieces of information that would drive the stock. They had been claiming they had funding through 2014 and it isn't like they released any data or really discussed the trial data, other than minor hints. Just my opinion though.
That's just it- they don't have funding through 2014. They have a line of credit they can tap into, but that's not the same as cash in the bank. They seemed to have been hoping to get good clinical results later this year, then do a secondary, but they really need to do the secondary now or risk everything on the clinical trial results later this year. If results don't come in as expected, they will be doing seconday at $2 share. If they do it now, it won't be as much as if they get good clinical results later this year, but they could still do another after that and would still be safe from delisting if study results do not support approval (i.e they will have cash in the bank to weather the time needed to get other drugs moving or provide FDA with what they request to get approval.