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Post by dearlew9 on Apr 19, 2017 13:26:34 GMT -5
Maybe he will eventually ask for a board seat and become an activist investor. You can bet that with a 5.1% interest he will want to see a return and perhaps push or help the company to make a sale. I view this all as being positive. Have to do the research on other deals Flynn has been involved in. I think they turn around sell those shares and pocket the $ or covering their short with these shares.
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Post by kc on Apr 19, 2017 13:34:02 GMT -5
Deerfield knows more about MNKD finances and potential than anyone outside of MNKD management. Deerfield converting debt to much less secure stock equity indicates Deerfield does not believe bankruptcy is anywhere in the future. Deerfield is an investment company. Step one was for MNKD to issue the recent golden parachute protections for its management team in case of a transfer of ownership. Step two was for Deerfield to convert debt to equity that now gives them upside potential they didn't have without this conversion. Step three will be the defining moment for MNKD's future. Wish I had a clue as to what Step three will be...unfortunately, no one really does. I agree with everything especially step three. Flynn can become an activist and find a buyer for MannKind who can monetize the company to be successful in marketing Afrezza.
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Post by zuegirdor on Apr 19, 2017 13:41:13 GMT -5
Maybe he will eventually ask for a board seat and become an activist investor. You can bet that with a 5.1% interest he will want to see a return and perhaps push or help the company to make a sale. I view this all as being positive. Have to do the research on other deals Flynn has been involved in.
Deerfield Management, managed by James E. Flynn since 2000, is a healthcare focused investment company that specializes in funding R&D, managing hostile takeovers, corporate transitions and financial advisory services. Deerfield Management oversees $3.5 billion in assets. Read more at www.insidermonkey.com/hedge-fund/deerfield+management/408/#DxSlo4jADmByZ6bp.99
Remember Flynn wants to win with MannKind...
www.fiercebiotech.com/special-report/deerfield-management
www.bloomberg.com/research/stocks/private/person.asp?personId=8002481&privcapId=3751585
Background
Mr. James Edward Flynn, also known as Jim, has been a Partner of Deerfield Management Company, L.P. since February 2000 and serves as its President. Mr. Flynn served as a Managing Director of the equity research department at ING Baring Furman Selz from 1996 to February 2000, a Vice President of Corporate Developmennt at Alpharma Inc., a pharmaceutical company, from 1993 to 1995, and a Senior Vice President of Equity Research at Kidder, Peabody & Co., an investment banking firm from 1988 to 1993. Mr. Flynn was an Equity Analyst of Kidder Peabody Group Inc., Research Division and ING Groep N.V., Research Division. He serves as a Trustee of Mount Sinai Beth Israel. He serves as a Trustee of Continuum Health Partners, Inc., Beth Israel Medical Center and St Luke's-Roosevelt Hospital Center. He serves as a Director of eCaring LLC. Mr. Flynn attended from University of Michigan in Economics, Cellular Biology and Molecular Biology
Who knows, Mr Flynn may be a diabetic or know some/several? Maybe he is/knows of Afrezza on a personal level-shareholder interests and all!(?)
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Post by barnstormer on Apr 19, 2017 13:48:25 GMT -5
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Post by mango on Apr 19, 2017 13:50:36 GMT -5
• This is wonderful news. —Why? • Because on February 6, 2017, Deerfield hired Vicki Gaddy to serve as Deerfield's Head of Human Resource Strategy and Talent Acquisition. • Vicki Gaddy served as MannKind's Director of Human Resources from 2001-2005. Deerfield Hires Vicki Gaddy
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Post by MnkdWASmyRtrmntPlan on Apr 19, 2017 14:01:44 GMT -5
Go, Go, Mango! Leave it to Mango the Research King. So, to me, this is very interesting. But, it leaves me wondering how to fill in the pieces. Do you have any speculations or additional info?
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Post by LosingMyBullishness on Apr 19, 2017 14:02:01 GMT -5
• This is wonderful news. —Why? • Because on February 6, 2017, Deerfield hired Vicki Gaddy to serve as Deerfield's Head of Human Resource Strategy and Talent Acquisition. • Vicki Gaddy served as MannKind's Director of Human Resources from 2001-2005. Deerfield Hires Vicki Gaddy
Mango, IMO a HR person has little to nothing to do with aquisitions or company strategy. She was just an HR person available and Deerfeld needed one. What ever they put up in these official statement is just company bs especially when it comes to Talent aquisition. This is HR writing about HR. They regularly write all the crap from HBR etc. in their statements and no one is taking that seriously.
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Post by Deleted on Apr 19, 2017 14:07:40 GMT -5
Go, Go, Mango! Leave it to Mango the Research King. So, to me, this is very interesting. But, it leaves me wondering how to fill in the pieces. Do you have any speculations or additional info? Send it to Nate!
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Post by dearlew9 on Apr 19, 2017 14:08:16 GMT -5
Go, Go, Mango! Leave it to Mango the Research King. So, to me, this is very interesting. But, it leaves me wondering how to fill in the pieces. Do you have any speculations or additional info? so even for speculation , you need some one else to speculate for you? With those rose glasses, I think you can speculate what ever you choose.
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Post by mango on Apr 19, 2017 14:10:39 GMT -5
• This is wonderful news. —Why? • Because on February 6, 2017, Deerfield hired Vicki Gaddy to serve as Deerfield's Head of Human Resource Strategy and Talent Acquisition. • Vicki Gaddy served as MannKind's Director of Human Resources from 2001-2005. Deerfield Hires Vicki Gaddy
Mango, IMO a HR person has little to nothing to do with aquisitions or company strategy. She was just an HR person available and Deerfeld needed one. What ever they put up in these official statement is just company bs especially when it comes to Talent aquisition. This is HR writing about HR. They regularly write all the crap from HBR etc. in their statements and no one is taking that seriously. No offense, but you are entirely wrong.
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Post by surplusvalue on Apr 19, 2017 14:21:15 GMT -5
Step Three advertising starts July 1. MNKD is ready. They addressed, getting doctors ready. There is a team to help with insurance. They addressed titration. A titration pack. There is a team now, a nursing team working with afrezza users. I wish they got a continuous glucose monitor for a month.
The type one market alone is huge.
Advertising just when the remaining debt is due. Perfect... for our CEO who keeps confirming his last minute Larry strategy for running this company. Advertising is a little late to the party and should have been much much earlier as I have indicated numerous times elsewhere. They certainly followed Sanofi in this regard and we have all seen the results after an additional two launches. And after burning almost 80 million since Sept dont tell me they could not have afforded it. Oh that's right, they were saving it to hire a Chief People Officer. And are the doctors ready? The script numbers and the quarterly performance affected by just one prescriber's death indicate otherwise. Are they just waiting for the advertising to prescribe? Isnt it readily apparent by now that MNKD, a research and development company that had absolutely no commercialization experience together with a CEO who had no CEO experience, bit off much more than they could chew. Even many of the cheerleaders here are now talking buy out, reorganization, takeover etc etc because MNKD is not commercializing this in any meaningful sense and probably not capable of doing this on their own. Even if they were to reach 600 scripts , think of it in terms of what they have spent and the size of the diabetes market; even at 600 scripts (mind you they dont seem to be able to even get to 300) its an insignificant speck. And where does this leave shareholders who have been here for some time? After the reverse and the present situation that should be self evident too. Speaking of advertising and market presence, I almost forgot. I emailed MNKD and simply asked if they were going to be at ADA. Guess what... no response.
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Post by kbrion77 on Apr 19, 2017 14:25:36 GMT -5
Advertising just when the remaining debt is due. Perfect... for our CEO who keeps confirming his last minute Larry strategy for running this company. Advertising is a little late to the party and should have been much much earlier as I have indicated numerous times elsewhere. They certainly followed Sanofi in this regard and we have all seen the results after an additional two launches. And after burning almost 80 million since Sept dont tell me they could not have afforded it. Oh that's right, they were saving it to hire a Chief People Officer. And are the doctors ready? The script numbers and the quarterly performance affected by just one prescriber's death indicate otherwise. Are they just waiting for the advertising to prescribe? Isnt it readily apparent by now that MNKD, a research and development company that had absolutely no commercialization experience together with a CEO who had no CEO experience, bit off much more than they could chew. Even many of the cheerleaders here are now talking buy out, reorganization, takeover etc etc because MNKD is not commercializing this in any meaningful sense and probably not capable of doing this on their own. Even if they were to reach 600 scripts , think of it in terms of what they have spent and the size of the diabetes market; even at 600 scripts (mind you they dont seem to be able to even get to 300) its an insignificant speck. And where does this leave shareholders who have been here for some time? After the reverse and the present situation that should be self evident too. Speaking of advertising and market presence, I almost forgot. I emailed MNKD and simply asked if they were going to be at ADA. Guess what... no response. They must be busy operating the AFREZZA Patient twitter handle.... Oh wait nothing has been posted on there since the 6th. Seriously what am I missing on how to promote your ONLY product the company offers. This is just baffling.
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Post by agedhippie on Apr 19, 2017 14:31:11 GMT -5
To me, pretty much a non-event. What's Deerfield gonna do, watch MNKD go BK and get next to nothing for their notes, or convert their notes to stock and maybe get a bigger payday than interest on those Notes? Not sure if those notes were convertible, by the way. The conversion price was fine, but, again, pretty much irrelevant under our current circumstances. I gotta think Deerfield is going to sell many of those shares, otherwise they are afraid they will get nothing (and end up in the same boat as us, and NO ONE wants to be in THAT boat). So, it's a good deal for Deerfield, cuz now they can get some cash for their note, where they otherwise would get a lot less cash, possibly nothing (well, they may want to take over the business and see if they can sell Afrezza). And it's good for us, too, although I'm not sure at all that Deerfield would have exercised their remedies if we hadn't paid. They probably would have extended the maturity. But it is a way of getting poor, poor Deerfield a little more cash for their fooling mistake of lending to us! Deerfield has a reputation for playing hardball so I think if it came down to a choice between extending the maturity date and foreclosing on the note, they almost certainly would have foreclosed. With this transaction Deerfield gets $4 million of cash now instead of $5 million in May, and they get some shares they can sell to get more cash so they are almost whole on the May obligations. On the July payments, there is still a loss waiting for them as the company will have a hard time coming up with the remaining $10 million in cash and the shares will not net $5 million after costs. However, Deerfield still has control of the collateral in a worst case scenario and that is the leverage they need to call the shots going forward. Deerfield is not looking to win, they are looking to minimize their risk of loss on their notes going forward. Keep that in mind as it will be predictive of their next move as the remaining cash portion of the July payment comes due. Wouldn't Deerfield have hedged their position with a short? It would avoid the problem of having to dispose of the equity into the current market.
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Post by kingedxxxxx on Apr 19, 2017 14:32:27 GMT -5
1. Deerfield knows more about MNKD finances and potential than anyone outside of MNKD management. 2. Deerfield converting debt to much less secure stock equity indicates Deerfield does not believe bankruptcy is anywhere in the future. 3. Deerfield is an investment company. Step one was for MNKD to issue the recent golden parachute protections for its management team in case of a transfer of ownership. Step two was for Deerfield to convert debt to equity that now gives them upside potential they didn't have without this conversion. Step three will be the defining moment for MNKD's future. Wish I had a clue as to what Step three will be...unfortunately, no one really does. Well ... 1. Exactly true. You think they want MNKD to file BK and risk losing quite a bit on the value of their debt AND potentially have their equity stake wiped? They need to milk as much value from what they have invested as they can. 2. Converting debt to equity actually could be viewed as much more secure. Debt is sitting there without any liquidity. They are stuck holding. Getting common shares allows for immediate liquidity as those shares are readily tradable. This move really has nothing to do with Deerfield believing that common equity is safe. As Derek (another poster) mentioned, Deerfield could have already shorted a position at a higher PPS with expectation of conversion of debt. I am a smart guy. That is what I would do. Likely, Deerfield has already shorted to cover a portion of its debt position in what looks more and more like a situation whereby MannKind will not be able to pay in cash. 3. Irrelevant. Deerfield's only interest in equity is in a controlling interest in the decision-making process as things continue to unravel. They are definitely not looking at upside potential of common equity at this point. And, anyone smart that follows the big boys would know to run from this investment. You should understand that Deerfield's plan is not aligned with common retail equity stockholders.
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Post by mnkdfann on Apr 19, 2017 14:35:29 GMT -5
Speaking of advertising and market presence, I almost forgot. I emailed MNKD and simply asked if they were going to be at ADA. Guess what... no response. Someone on stock twits claims he was told that MNKD was only going to meet with a few clients, and that ADA was not one of their big focuses at the present time. Yeah, I know, stock twits. Take it for what it is worth.
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