MERRIMACK PHARMACEUTICALS IN

CUSIP: 590328AA8 Class: NOTE 4.5% 7/1

TANG CAPITAL MANAGEMENT LLC's Holding History (CIK: 0001232621)

Note: Option positions (PUT/CALL) are excluded.

Q2 2016
Shares 3,500,000 Value ($000) $3,965 Avg Close — Range —
Q1 2016
Shares 3,500,000 Value ($000) $5,233 Avg Close — Range —
Q4 2015
Shares 3,500,000 Value ($000) $5,027 Avg Close — Range —
Q3 2015
Shares 3,500,000 Value ($000) $5,259 Avg Close — Range —
Q2 2015
Shares 3,500,000 Value ($000) $7,328 Avg Close — Range —
Q1 2015
Shares 5,500,000 Value ($000) $11,154 Avg Close — Range —
Q4 2014
Shares 5,500,000 Value ($000) $10,225 Avg Close — Range —
Q3 2014
Shares 5,500,000 Value ($000) $8,496 Avg Close — Range —
Q2 2014
Shares 5,500,000 Value ($000) $7,490 Avg Close — Range —