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Post by Deleted on Oct 21, 2014 18:57:06 GMT -5
I think this is a "move along, nothing to see here" event. They are termed "Security Agreement" assignments. Obviously Sanofi spending a Billion dollars for the rights to sell Afrezza in perpetuity would put in place anything possible to make sure their ability to use the names is also solid and perpetual. They probably even need to refer to Technosphere in medical literature they will produce.I think this is precisely why its listed. They need permission to produce literature which obviously includes the t-sphere process in its description. Plus, like you mentioned, its for the Security Agreement. Long term, this had to happen because I am still of the corner where the process that Al slipped up on is them (MNKD) allowing Sanofi to produce both Technosphere and Afrezza at a second location.
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Post by seanismorris on Oct 21, 2014 19:49:28 GMT -5
My prediction is this news is interesting but not materially important. We'll probably receive some clarification on the 20th, but it will probably go something like this 'the loan, partnership and licensing details are proceeding as expected. The usage of the LLC is the most optimal way to occomplish this to protect the interests of both parties (Sinoval & Mannkind) both for tax purposes, marketing Afrezza, legal liability, etc. In addition, production of Afrezza is well underway and sufficient to meet projected initial demand. Production and capacity will scale with demand as required without major new capital expenditures. Expenditures will flow through Mannkind to the LLC as it relates to Afrezza. The marketing of Afrezza is imminent, but the details are for Sinoval to share, per the partnership agreement.
FYI A company made up of just two people (that I know) created multiple LLC's to save money on taxes. This is just our crazy (tax, etc.) system at work. --- A buyout of Mannkind or just Afrezza wouldn't suprise me but I don't see why it would be in the interests of either party for a least a year or two. We need to see execution by both parties first as it relates to the partnership.
Re: Sanofi buying MNKD shares it's certainly a possibility, and if it did happen it would be a tipoff of Sanofi's end game. But, right now it's just baseless speculation.
And, I think dreamboatcruise nailed it with: I think this is a "move along, nothing to see here" event. They are termed "Security Agreement" assignments. Obviously Sanofi spending a Billion dollars for the rights to sell Afrezza in perpetuity would put in place anything possible to make sure their ability to use the names is also solid and perpetual. They probably even need to refer to Technosphere in medical literature they will produce.
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Post by mnholdem on Oct 21, 2014 22:05:25 GMT -5
I think this is a "move along, nothing to see here" event. They are termed "Security Agreement" assignments. Obviously Sanofi spending a Billion dollars for the rights to sell Afrezza in perpetuity would put in place anything possible to make sure their ability to use the names is also solid and perpetual. They probably even need to refer to Technosphere in medical literature they will produce.I think this is precisely why its listed. They need permission to produce literature which obviously includes the t-sphere process in its description. Plus, like you mentioned, its for the Security Agreement. Long term, this had to happen because I am still of the corner where the process that Al slipped up on is them (MNKD) allowing Sanofi to produce both Technosphere and Afrezza at a second location. Al said Sanofi was given rights to "our new process". I think this means Sanofi will be handling getting the new process (which produces a longer Technosphere particle that can hold more insulin, planned for their larger 24- and 32-unit insulin cartridges) through the FDA approval process. PLUS they'll have the right to use the new process in their own manufacturing facilities. To your point, they probably have been given rights (or license) to also utilize the current Technosphere process for their production facilities.
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Post by babaoriley on Oct 21, 2014 22:49:36 GMT -5
As some of you know, I am a lawyer, and although I do real estate secured loans for a living (and what an interesting line of work it is - LOL), I have seen hundreds of security agreements in my too many years of lawyering, and this is really not too much different. It's interesting to see how this thread morphed, and essentially got to the correct conclusion by thread's end.
As the Lizard said, "move along, nothing to see here" - an excellent synopsis. Just typical lawyer stuff, tying up all the assets of a company and then some, and, as was pointed out, Sanofi's affiliate is in second position on some of the collateral. MannKind would typically retain control of the collateral, but they probably would not be allowed to sell any of it off without written consent from both lien holders, and if cash comes to the company as a result of a consented to sale or license of the tech, then, generally speaking, the debt either gets paid down some and certainly the proceeds of any such sale or any revenues from any licenses, would be subject to the Security Agreement. Again, no biggie, very normal and usual.
And there is absolutely nothing that I would take from all that paperwork that tells me a BO is any more or less probable based merely on its existence.
(ha, ha, ha, if only you guys knew what that stuff really means.....)
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Post by navpoon on Oct 22, 2014 17:05:45 GMT -5
The first thing to come to my mind was inhalable Caffeine...no need to drink coffee in the morning to get your "Coffee Kick" or inhalable alcohol to get your wine blast without all the sugar calories! Imagine hanging out at a party with table full of cricket inhalers with different flavors that get you buzzed. Sounds good to me!!!
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Post by mrhaigs on Oct 22, 2014 17:23:39 GMT -5
The first thing to come to my mind was inhalable Caffeine...no need to drink coffee in the morning to get your "Coffee Kick" or inhalable alcohol to get your wine blast without all the sugar calories! Imagine hanging out at a party with table full of cricket inhalers with different flavors that get you buzzed. Sounds good to me!!! Sounds like a turdy party to me
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Post by seanismorris on Oct 22, 2014 17:23:47 GMT -5
No thank you vote for inhaled caffeine. How about inhaled Technosphere pot for lawyer boy? We should really give it to all lawyers before they enter a courtoom -instant entertainment (contracts written under the influence would also be entertaining)
FYI
The FDA is warning about powdered pure caffeine being marketed directly to consumers, and recommends avoiding these products. In particular, FDA is concerned about powdered pure caffeine sold in bulk bags over the internet. The FDA is aware of at least one death of a teenager who used these products.
These products are essentially 100 percent caffeine. A single teaspoon of pure caffeine is roughly equivalent to the amount in 25 cups of coffee.
Pure caffeine is a powerful stimulant and very small amounts may cause accidental overdose. Parents should be aware that these products may be attractive to young people.
Symptoms of caffeine overdose can include rapid or dangerously erratic heartbeat, seizures and death. Vomiting, diarrhea, stupor and disorientation are also symptoms of caffeine toxicity. These symptoms are likely to be much more severe than those resulting from drinking too much coffee, tea or other caffeinated beverages.
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Post by babaoriley on Oct 22, 2014 22:41:11 GMT -5
I wouldn't dream of walking into a courtroom if I weren't high!
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Post by gamblerjag on Oct 22, 2014 23:58:53 GMT -5
I drink coffee because I like the taste of coffee. I don't need the caffeine,.
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Post by otherottawaguy on Oct 23, 2014 9:11:30 GMT -5
My name is OOG, and I have a problem. I am a coffee addict now for 20 years and have no intention of drying out...
OOG
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Post by babaoriley on Oct 23, 2014 9:48:42 GMT -5
OOG, do you ever go long enough without coffee to have a coffee withdrawal headache?
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Post by mnkdorbust on Oct 23, 2014 9:53:02 GMT -5
OOG, do you ever go long enough without coffee to have a coffee withdrawal headache? Why would anyone do that? I'm a coffee roaster and drinker and would not even imagine ever inhaling it. That being said if i had to decide between needle or inhaler i would go inhaler 10 out of 10!
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Post by otherottawaguy on Oct 23, 2014 10:16:24 GMT -5
OOG, do you ever go long enough without coffee to have a coffee withdrawal headache? First time I had one was in Whistler back around 2001. Had a Timmies (Canadian reference) at the airport leaving Ottawa, so was good for 24 hrs, but woke up 2 days into ski week and thought maybe I dehydrated. Headache almost disappear immediately when the coffee touched my lip that morning, felt the whole body restart to relax immediately. Been a confirmed addict since.
OOG
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Post by mnholdem on Oct 23, 2014 12:18:22 GMT -5
OOG, do you ever go long enough without coffee to have a coffee withdrawal headache? I actually did give up coffee for a stint and got some advice from Dr. S. Koop (yes, a relative of the former Surgeon General) to drink HOT water with a little honey. I was amazed how much the coffee "urge" was due to the temperature of the drink. It helped a LOT... although I still got the nagging caffeine withdrawal headache for about a week.
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