You are welcome. I have already bought back all the shares I sold yesterday, and I have orders in to double my prior position at or near the lows today, if their is anymore selling, and if the MMs let me have more cheapies! They just let me have more at .021
I think most if not all of the day trader panic selling is over! I am amazed that the price got back down this low.
Here is some pertinent news, recent news from last month that is still useful:
Manhattan Pharmaceuticals Announces Preliminary Phase 1/2 Results for AST-915 in Essential Tremor BY GlobeNewswire — 7:49 AM ET 12/16/2010
NEW YORK, Dec. 16, 2010 (GLOBE NEWSWIRE) -- Manhattan Pharmaceuticals, Inc. announced preliminary results today from a Phase 1/2 study of AST-915 for the treatment of essential tremor. Data from this single dose study demonstrated that AST-915 was safe and well tolerated and demonstrated a clear effect on tremor power.
In this randomized, double-blind, placebo-controlled, crossover design study, 18 subjects with essential tremor received single oral doses of AST-915. Primary and secondary outcome measures included the effect on tremor power using accelerometry to test the central tremor component at various time-points after treatment. Safety, pharmacokinetic data and other efficacy measures were also evaluated. The study was conducted at The National Institute of Neurological Disorders and Stroke (NINDS) at the National Institutes of Health (NIH) under a CRADA agreement between the NIH and Ariston Pharmaceuticals, Inc., a wholly owned subsidiary of Manhattan Pharmaceuticals, Inc ---------------------------- Note this part: "The study was conducted at The National Institute of Neurological Disorders and Stroke (NINDS) at the National Institutes of Health (NIH) under a CRADA agreement"
CRADA's are typically US government partially funded research and development agreements! This one was with the NIH!!!! Are they not part of and funded by the US government? Also, MHAN got a large Federal grant of .25 to .5 million dollars in the last 8 weeks, IIRC, from the federal stimulus 2009 Act.
I won't be surprised to see some other deals from left field here, an outside suitor with co-funding perhaps in future news.
How many other biotechs can you buy for .02/share, that have huge ownership by a European Biotech Fund (or any investment fund for that matter), and that have 4 products in the pipeline!!!!
Compare MHAN to CYTR, compare OS, and market caps, and time to market for products. Only reason MHAN stayed so low was the huge overhang of Nordic warrants and puts from any new dilution that put a cap on share prices during good news of about .08/share.
Now ask yourself why Nordic just gave MHAN (keep in mind Nordic was pissed with and fighting with MHAN over puts and warrants recently), a 1/2 million dollars and let MHAN keep part of Hedrin JV, instead of forcing MHAN to pay 1-2 million dollars to keep any of the Hedrin stake?
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