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MACK

Merrimack

$3.07

-0.09 (-2.85%)

10:17
03/01/17
03/01
10:17
03/01/17
10:17

Merrimack uses 'going concern' phrase in regulatory filing

In a regulatory filing Merrimack outlines risks related to the sale of Commercial Business to Ipsen. The company says, "If the asset sale is not completed, we may not be able to pursue strategic alternatives for our company or our product candidates because we will have limited cash reserves and limited revenues. The clinical development and potential commercialization of our product candidates requires significant capital. We had unrestricted cash and cash equivalents of $21.5 million as of December 31, 2016. If we cannot raise additional capital, we may have difficulty servicing our debt obligations and may need to file for bankruptcy."...We may be unable to raise additional capital or may be required to incur significant costs to raise such additional capital. Our ability to raise additional capital will depend on many factors, including, but not limited to, the following: market conditions for debt or equity financing;the initiation, progress, timing, costs and results of preclinical studies and clinical trials for our product candidates or any other future product candidates; investors' and lenders' belief in our business plan and our ability to continue as a 'going concern."

  • 01

    Mar

MACK Merrimack
$3.07

-0.09 (-2.85%)

08/19/16
BTIG
08/19/16
INITIATION
BTIG
Neutral
Merrimack initiated with a Neutral at BTIG
BTIG analyst Ling Wang initiated Merrimack with a Neutral as he expects shares to be range-bound given the likely slow ramp-up of ONIVYDE and data from MM-302 and MM-121 won't be available until 2017 or beyond;
10/07/16
JPMS
10/07/16
DOWNGRADE
Target $7
JPMS
Neutral
Merrimack downgraded to Neutral from Overweight at JPMorgan
JPMorgan analyst Anupam Rama downgraded Merrimack Pharmaceuticals to Neutral saying the shares are likely to be range-bound after rallying 36% from the 52-week low on September 20. Key pipeline catalysts aren't likely until Q2 of 2017 and beyond while 2016 estimates are not "meaningfully beatable," Rama tells investors in a research note. He lowered his price target for the shares to $7 from $8.
11/14/16
JPMS
11/14/16
NO CHANGE
JPMS
JPMorgan says Merrimack could fit as target for Shire
JPMorgan analyst Anupam Rama believes Merrimack Pharmaceuticals (MACK) could fit as a potential target for Shire (SHPG). The $1B deal size would be manageable, Rama tells investors in a research note after Ben Harrington's Betaville blog, citing sources, reported Friday that Shire is among the companies participating in Merrimack's strategic review process. Assuming a 40% premium to the intraday Merrimack share price, the deal would be 1% accretive in 2019 and 2% accretive in 2020, Rama estimates.
01/30/17
JANY
01/30/17
NO CHANGE
Target $44
JANY
Neutral
Clovis rally has taken stock up 'too far too fast,' says Janney Capital
Janney Capital analyst Debjit Chattopadhyay noted that Clovis (CLVS) shares are up about 41% year-to-date, citing accelerated approval for its rucaparib drug in advanced ovarian cancer, the all cash acquisition of Ariad (ARIA) and the $575M divestiture with potential for further payments of Merrimack's (MACK) Onivyde franchise as among the tailwinds driving Clovis shares higher. However, a "near-term Clovis buyout may not materialize" until key competitive readouts settle the debate on the equivalency/superiority of various PARP inhibitors, Chattopadhyay tells investors. Based on near-term uncertainties, he advises waiting for a better entry point to Clovis shares, on which he has a Neutral rating and $44 fair value estimate.

TODAY'S FREE FLY STORIES

CNX

Consol

$16.50

0.465 (2.90%)

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XENE

Xenon Pharmaceuticals

, AMGN

Amgen

$170.77

1.39 (0.82%)

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Periodicals
Xenon higher as CNBC's Tirrell reports on nonaddictive pain medicines »

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XENE

Xenon Pharmaceuticals

AMGN

Amgen

$170.77

1.39 (0.82%)

RHHBY

Roche

$28.90

0.165 (0.57%)

BIIB

Biogen

$313.98

3.7 (1.19%)

RGEN

Repligen

$33.73

1.12 (3.43%)

VRTX

Vertex

$147.94

-0.72 (-0.48%)

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    May

RIO

Rio Tinto

$47.70

0.065 (0.14%)

14:25
11/17/17
11/17
14:25
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14:25
Periodicals
Rio Tinto working with advisers on bid for stake in SQM, Bloomberg says »

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VIAB

Viacom

$23.69

-0.92 (-3.74%)

14:25
11/17/17
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14:25
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14:25
Options
Viacom call volume above normal and directionally bullish »

Bullish option flow…

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14:25
11/17/17
11/17
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General news
Action Economics Survey results »

Action Economics Survey…

TWX

Time Warner

$88.79

0.7799 (0.89%)

, DIS

Disney

$103.63

0.03 (0.03%)

14:23
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Periodicals
'Justice League' grosses roughly $16M in opening day in China, Forbes says »

Warner Bros. (TWX) latest…

TWX

Time Warner

$88.79

0.7799 (0.89%)

DIS

Disney

$103.63

0.03 (0.03%)

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$NSD

NASDAQ Market Internals

14:17
11/17/17
11/17
14:17
11/17/17
14:17
Technical Analysis
NASDAQ market internals summary »

Volume is average for…

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$NYE

NYSE Market Internals

14:16
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14:16
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Technical Analysis
NYSE market internals summary »

Volume is average for…

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PAAS

Pan American Silver

$14.77

-0.12 (-0.81%)

14:00
11/17/17
11/17
14:00
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14:00
Conference/Events
Pan American Silver investor and analyst day »

Investor and Analyst Day…

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  • 28

    Nov

TJX

TJX

$70.99

1.93 (2.79%)

14:00
11/17/17
11/17
14:00
11/17/17
14:00
Options
Notable options activity in TJX as shares see strength »

Notable options activity…

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PFSW

PFSweb

$6.80

0.21 (3.19%)

13:59
11/17/17
11/17
13:59
11/17/17
13:59
Hot Stocks
PFSweb rallies after Ancora discloses activist stake »

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RH

RH

$103.86

-0.95 (-0.91%)

13:52
11/17/17
11/17
13:52
11/17/17
13:52
Recommendations
RH analyst commentary  »

RH price target raised to…

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HAIN

Hain Celestial

$38.49

1.76 (4.79%)

13:45
11/17/17
11/17
13:45
11/17/17
13:45
Options
Hain Celestial call volume above normal and directionally bullish »

Bullish option flow…

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PEG

PSEG

$51.40

0.015 (0.03%)

13:36
11/17/17
11/17
13:36
11/17/17
13:36
Syndicate
Breaking Syndicate news story on PSEG »

PSEG files $129.1M mixed…

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AWK

American Water

$89.05

-0.64 (-0.71%)

13:33
11/17/17
11/17
13:33
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13:33
Hot Stocks
Indiana American Water acquires Georgetown Water System for about $6.4M »

Indiana American Water…

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COT

Cott Corp.

$16.86

0.36 (2.18%)

13:30
11/17/17
11/17
13:30
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Options
Cott Corp call buying continues »

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13:30
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General news
FX Action: USD-JPY »

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CC

Chemours

$52.23

0.705 (1.37%)

13:27
11/17/17
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13:27
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13:27
Periodicals
Chemours tells Bloomberg N.C. permit revocation 'unwarranted' »

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  • 01

    Dec

13:25
11/17/17
11/17
13:25
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General news
An exodus from U.S. high yield debt this week »

An exodus from U.S. high…

STBZ

State Bank Financial

$28.69

0.21 (0.74%)

13:25
11/17/17
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13:25
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13:25
Conference/Events
State Bank Financial participates in a conference call with SunTrust »

Suntrust Bank Analyst…

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  • 17

    Nov

HIBB

Hibbett Sports

$14.85

0.8 (5.69%)

13:24
11/17/17
11/17
13:24
11/17/17
13:24
Recommendations
Hibbett Sports analyst commentary  »

Hibbett Sports price…

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  • 17

    Nov

FL

Foot Locker

$40.18

8.33 (26.15%)

13:23
11/17/17
11/17
13:23
11/17/17
13:23
Recommendations
Foot Locker analyst commentary  »

Foot Locker quarter…

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  • 17

    Nov

MS

Morgan Stanley

$48.67

0.065 (0.13%)

13:20
11/17/17
11/17
13:20
11/17/17
13:20
Options
Morgan Stanley calls lead puts 9:1 »

Morgan Stanley calls lead…

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$NSD

NASDAQ Market Internals

13:17
11/17/17
11/17
13:17
11/17/17
13:17
Technical Analysis
NASDAQ market internals summary »

Volume is average for…

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$NYE

NYSE Market Internals

13:16
11/17/17
11/17
13:16
11/17/17
13:16
Technical Analysis
NYSE market internals summary »

Volume is average for…

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