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Post by thsloppy on Jul 30, 2014 10:20:32 GMT -5
From the last call, Matt mentioned they had some "breathing room" beyond the revised date given their cash on hand, the 20M from Greenfield and the availability of the Mann line. Probably puts them to the middle to end of Q3 given ramp up activities. It has been a while since I dug in. Do I have this correct? Right now more dilution driving down the price is the only concern keeping me from adding. Not only would it be dilution, but it would send a market a signal regarding partnership. I could see the stock in the 6's if this occurs. Thoughts? Is there more cash I'm missing?
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Post by mannmade on Jul 30, 2014 10:41:01 GMT -5
thsloppy, this is from the top of my head but as I recall the current cash position is as follows:
1.) 40m due from Deerfield with FDA approval 2.) 35m was cash on hand at the time 3.) 35 m or so left on mann credit line 4.) Two ATM's with 50m each 5.) Revised Deefield Note that allows for 90m more
Also Mnkd must keep 25m on hand to satisfy terms of Deerfield.
As this is just from memory my numbers may be off a bit but if there is any dilution it would clearly be minimal as even at the current lower shares prices, still higher than what was just a few months ago... Also I think if there is dilution there would also need to be a detailed explanation about near term future with partner etc and think that the tone and content of the announcement would be the main factor in determining how market reacts along with how (severe or not) the dilution is perceived to be...
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Post by joeypotsandpans on Jul 30, 2014 10:45:07 GMT -5
thsloppy, this is from the top of my head but as I recall the current cash position is as follows: 1.) 40m due from Deerfield with FDA approval 2.) 35m was cash on hand at the time 3.) 35 m or so left on mann credit line 4.) Two ATM's with 50m each 5.) Revised Deefield Note that allows for 90m more Also Mnkd must keep 25m on hand to satisfy terms of Deerfield. As this is just from memory my numbers may be off a bit but if there is any dilution it would clearly be minimal as even at the current lower shares prices, still higher than what was just a few months ago... Also I think if there is dilution there would also need to be a detailed explanation about near term future with partner etc and think that the tone and content of the announcement would be the main factor in determining how market reacts along with how (severe or not) the dilution is perceived to be... I believe there is one ATM left (if it hasn't been used in this most recent run up) as they used the other one already...the rest looks about right.
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Post by mannmade on Jul 30, 2014 10:56:15 GMT -5
Thanks Joey...
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Post by thsloppy on Jul 30, 2014 11:01:58 GMT -5
thank you. work has been busy and it has been hard to keep up!
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