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Post by nylefty on Nov 6, 2019 0:58:07 GMT -5
Just noticed that Spencer said that "CG" is a "potential"activist investor:  |
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Post by mnholdem on Nov 6, 2019 9:53:53 GMT -5
If I'm not mistaken, we should learn how much revenue was accounted for the Brazil shipment, but CEO Castagna may bury that detail under "revenue" and not provide details. It may depend upon whether he views it as confidential (for strategic purpose) or as a feather in his hat. Unfortunately, since the Brazilian Government has yet to have release the pricing they've set for Afrezza, it will be virtually impossible to determine the number of SKUs shipped for Biomm's initial order. I'm more interested in the revenue generated from Biomm. We'll just have to wait and see how forthcoming Mr. Castagna or Mr. Binder are in this regard. Having listened in on this morning's earning call, I appreciate that management did, in fact, break out the revenue for the Brazil shipment. $0.7 million is the revenue figure cited and CEO Castagna elaborated on two items: - The shipment has cleared customs and is now warehoused (good);
- Biomm is still negotiating with Brazilian authorities over Afrezza pricing (not so good)
The Brazilian pricing model is taking so long that I suspect that Biomm has needed to produce additional clinical evidence to support a higher price for Afrezza than other available insulin. That's entirely my speculation, but it's not so far-fetched to think that MannKind/Biomm need the price point to generate sufficient profitability to support Biomm's sales activity going forward.
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Post by agedhippie on Nov 6, 2019 16:18:05 GMT -5
If I'm not mistaken, we should learn how much revenue was accounted for the Brazil shipment, but CEO Castagna may bury that detail under "revenue" and not provide details. It may depend upon whether he views it as confidential (for strategic purpose) or as a feather in his hat. Unfortunately, since the Brazilian Government has yet to have release the pricing they've set for Afrezza, it will be virtually impossible to determine the number of SKUs shipped for Biomm's initial order. I'm more interested in the revenue generated from Biomm. We'll just have to wait and see how forthcoming Mr. Castagna or Mr. Binder are in this regard. The transcript is up and it looks like Brazil was worth $0.7M. Now how that breaks down into product is another question. In a WTF moment we have, " $6.4 million is our highest sales ever of Afrezza when you include the Brazil number." I think this means the net revenue for US sales was lower this quarter than last quarter (6.4 - 0.7 = 5.7M vs. 6.0M last quarter). Just looked at the slides and that is correct. The US Afrezza sales are lower this quarter than last quarter. |
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Post by Clement on Nov 6, 2019 20:19:31 GMT -5
Yep. That's what was presented at the EC concerning net Afrezza revenue.
However, Symphony dollars were actually higher for Q3 than for Q2.
Q3 Symphony $14,213,000
Q2 Symphony $13,394,000
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Post by ktim on Nov 7, 2019 10:53:43 GMT -5
Yep. That's what was presented at the EC concerning net Afrezza revenue. However, Symphony dollars were actually higher for Q3 than for Q2. Q3 Symphony $14,213,000 Q2 Symphony $13,394,000 Once they switched to recognizing revenue on shipment to distribution discrepancies like this can arise. Whether this was not managing channel well or intentional stuffing in Q2 would be pure speculation. |
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Post by lakers on Nov 9, 2019 5:20:14 GMT -5
Just noticed that Spencer said that "CG" is a "potential"activist investor: CG is Carlyle Group, a well known hedge fund, activist investor. CG can also be: Cevian Capital Christer Gardell, a Swedish like Hakan Co-Founder & Managing Partner Europe Stockholm, Sweden Cevian Capital is a Swedish investment firm founded in 1996 by Christer Gardell and Lars Förberg, both of whom serve as managing partners. Backed by Carl Icahn, it is the largest activist investment firm in Europe. It has offices in Stockholm, Zurich, and London. Formerly called Amaranth, Cevian has invested in such companies as ABB, Danske Bank, ThyssenKrupp, Volvo , G4S, TeliaSonera, and Lindex, and played a major role in the sale of Skandia to Old Mutual Lone Star Value Management
JE is Jeffrey Eberwein
Founder & CEO United States Old Greenwich, CT
Mnkd’s Danbury plant is in CT, 34.6 mi away from JE’s Office. He knows Mnkd. An activist shareholder is a shareholder that uses an equity stake in a corporation to put pressure on its management.[1] A fairly small stake (less than 10% of outstanding shares) may be enough to launch a successful campaign. Shareholder activism can take any of several forms: proxy battles, publicity campaigns, shareholder resolutions, litigation, and negotiations with management. Daniel Loeb, head of Third Point Management, is notable for his use of sharply written letters directed towards the CEOs of his target companies. fintel.io/i/lone-star-value-management-llcwww.carriedin.com/activist-investors/ |
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Post by lakers on Nov 9, 2019 11:05:52 GMT -5
spencerosborne
11/7/19, 01:37 PM
@herewithpopcorn CG and JE are potential actavist investors. If they were making a play, they would have already done their buying by now. If we get to Thanksgiving and there is no actavist announcement. It's all moot.
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Post by sportsrancho on Nov 10, 2019 14:25:31 GMT -5
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Post by lakers on Nov 10, 2019 23:40:16 GMT -5
spencerosborne
44m
$MNKD stop sending messages that say Deerfield is gone. Deerfield has rights to sales milestones on Afrezza. There is $75m worth of milestones to pay out. The Amphastar deal has $93m in commitments. Thus there are liabilities of $168m that any potential buyer of afrezza must consider. This is, in part, what makes selling afrezza a bit of a challenge. The other issue is poor sales in general.
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