Shares in Merrimack Pharmaceuticals (MACK -4.2%) move lower again today to set a new 52-week low once again.
Initially, the stock spiked more than 26% higher in the pre-market, possibly helped by a positive Seeking Alpha blog.
The SA contributor notes that MM-121, a therapeutic antibody for treating tumors, is the key drug in its portfolio. The company expects three trials involving MM-121 to report in late 2013.
If positive, I this could lead to a substantial revaluing of the company, and potentially an acquisition by a larger drug company.