Merrimack Pharmaceuticals (MACK) : The short interest in Merrimack Pharmaceuticals (MACK) has changed with an increase of 3,822,760 shares and the open interest is 14.4%. From 26,505,977 short positions on Jul 29, 2016, the shorts increased to 30,328,737 shares by August 15, 2016. There are 14 more days left for the expiry and the daily trading volume of the stock is 2,213,129 shares. The total interest of shorts is 25.8% of the shares available to the public. The short interest information was released on Wednesday Aug 24th after the market close.
Merrimack Pharmaceuticals (NASDAQ:MACK): The stock opened at $5.26 on Wednesday but the bulls could not build on the opening and the stock topped out at $5.39 for the day. The stock traded down to $4.82 during the day, due to lack of any buying support eventually closed down at $4.87 with a loss of -7.59% for the day. The stock had closed at $5.27 on the previous day. The total traded volume was 2,894,047 shares.
In a related news, The Securities and Exchange Commission has divulged that Schoeberl Birgit M., officer (Head of Discovery) of Merrimack Pharmaceuticals Inc, had unloaded 50,000 shares at an average price of $5.5 in a transaction dated on July 25, 2016. The total value of the transaction was worth $275,000.
Merrimack Pharmaceuticals, Inc. is a biopharmaceutical company discovering, developing and preparing to commercialize medicines consisting of therapeutics paired with companion diagnostics for the treatment of cancer. The Company has six targeted therapeutic oncology candidates in clinical development (MM-398, MM-302, MM-121, MM-111, MM-151 and MM-141). The Companys most advanced program is its investigational agent MM-398. The Company also has multiple product candidates in preclinical development and a discovery effort advancing additional candidate medicines. The Company has an agreement to utilize its manufacturing know-how to develop, manufacture and exclusively supply bulk drug to a third party, who processes the drug into a finished product and commercializes it globally. The Company is also developing in vitro and in vivo companion diagnostics for use with each of its oncology therapeutic product candidates.