Tomahawk, WI 05/19/2014 (Basicsmedia) –Merrimack Pharmaceuticals Inc (NASDAQ:MACK) has emerged profitable, with nominal daily undulations, ever since it surged up since May 1, 2014 after it announced about its stupendous growth in the first quarter, this year. The stock has fared as low as $2.05, during the last 52 weeks; however, it has also reached a pinnacle of $7.65 during the last 365 days.

Currently, the company has a market cap of $691.8 million; its a 50 day average price is $5.43, whereas a 200-day estimate is $4.88. Besides, MACK notched up $0.27 EPS this quarter; besides, it has reported revenues worth $13.03 million in Q1-2014.

The Cause Of The Giant Leap

The statistically significant leap in the shares’ value came after Merrimack Pharmaceuticals Inc (NASDAQ:MACK)’s experimental cancer curing drug improved or rather heightened degree of survival of patients suffering from metastatic pancreatic cancer, considerably. This drug, in combination with MM-398 is considered to have been successful in enhancing the survival limit of afflicted patients from 4.2 months to 6.1 months; the thoroughly researched and tested potion is expected to be rationally publicly released, after acquiring required approvals, sometime later in 2014. MACK has imminent plans to extend permits for sale of this drug across Asia (except Taiwan) and Europe.

As Future Seems Bright, Stock’s Price Soar

As more than 46K Pancreatic Cancer patients might crop up in 2014 (as per the estimates by American Cancer Society), rampant sale of MACK’s expectancy-improving drug is evident! Investors didn’t miss out on making the most of this news as the share-purchase index hiked substantially. Within the next 24 hours after this announcement, share prices rose to $6.99, by a  whopping 59%.

As The Directors Buy Stocks, Demands Swirl Up

Michael Porter, the Director at Merrimack Pharmaceuticals Inc (NASDAQ:MACK) purchases 10K company’s shares on May 8, 2014, in an open market. The transaction, disclosed in a legal SEC filing, cost him $65.9K (average cost per share being $6.59). Currently, Mr. Porter owns 520,865 company shares. Further, another MACK director, Anthony Sinskey opted to buy 5K company shares on May 13, 2014. Valued at $6.74/share, the entire transaction was worth $33.7K. These recent buys played a pivotal role in catalyzing the demands among the investors, for MACK’s stocks.

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