MYRX was up 9.65% and is still up 6.44% on volume of >70Ks still < 1/2 its ADV
The stock made a double bottom at $4.02 which was the same L as yesterday.<g>
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MYRX reported yesterday its 3rdQ results in which it was able to trim its loss for the 4th time on a roll, in spite of much lower revenue in the Q.<g>
It said that it ended the Q with $148.4M and subsequently it received a payment of $12.7M from JAV pursuant to the termination of the proposed merger agreement.
They said they were disappointed on JAV cancellation of the merger, but think they will be able to go forward on their own.<g>
On June4-8 they expect to report results from two ongoing PIIs on Azixa (MPC-6827) in patients with metastatic melanoma in combination with temozolomide and in recurrent glioblastoma in combination with carboplatin, at the ASCO meeting in Chicago.
This Yr, they expect to complete and to report final results of our PI investigating the safety, tolerability and pharmacokinetics of MPC-3100.
In April they reported progress on multiple preclinical research programs, including: data characterizing MPI-0486348, their lead compound, at the AACR 101st Annual Meeting in Washington, D.C. and their IKK epsilon program at the Federation of American Societies for Experimental Biology meeting in Anaheim, CA.
In February they reported results from two completed drug interaction P1 of MPC-4326, an small molecule inhibitor of HIV-1 maturation, at the 17th Conference on Retroviruses and Opportunistic Infections, in Frisco.
The ACTAY is $5
The EL for the current Yr. is still around $2.14 vs. $2.42 last Yr. and further loss around $2.35 is expected for 2011.
The stock has a good amount of resistance at the $4.50 level and it seems it will need some good news to make it to the $5 level.<g>
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Bernard |
