|
Post by straightly on Oct 11, 2017 9:09:43 GMT -5
Not what I expected, I think they could have waited a few days and gotten more. But this definitely sets the floor at 6 as these guys who bought at 6 will snap up anything and everything at lower prices and they will hold those shares tight. Just my opinion, that’s what I would do... buy more on sale and average down 😎 P.S. I think shorts are not going to be happy about this... 😊 Come on... you seriously are complaining about raising capital at $6? We were at less than a dollar not long ago. The only way of building confidence back up is to build capital back up. I think Mike pulled off a show for the ages in managing to run this up and do this deal at $6. Thank you Mike!!! Dbc: cannot say it better myself. Thank you Mike indeed. Foeward and upward, MNKD!
|
|
|
Post by stinkypete on Oct 11, 2017 9:14:14 GMT -5
Could this be some big short holder like Goldman Sacks who's already made a fortune shorting.
|
|
|
Post by dh4mizzou on Oct 11, 2017 9:39:24 GMT -5
celo , at this point, I'm not sure when MNKD will be profitable, but I do know that if their cash burn becomes zero, that means the company has been dissolved and is gone. Yes, negative cash flows are usually not good and positive cash flow is generally a good sign. A zero burn rate, however, reflects no corporate activity. That's not good (unless of course, the company has been bought out.) Oh yeah thanks. It is early and I got a little too excited. I meant positive cash flow. Celo,
Don't beat yourself up too much. I read your comments as they company would stop "reaching into their own pockets" by then. That they would no longer be "borrowing" to continue operations. That they would actually be pocketing some revenue at some point.
|
|
|
Post by parrerob on Oct 11, 2017 9:43:09 GMT -5
Did the 10 million shares offering was part of the recent volume?
|
|
|
Post by peppy on Oct 11, 2017 9:47:47 GMT -5
Did the 10 million shares offering was part of the recent volume? I believe they were private placement. MannKind Corporation (NASDAQ:MNKD) and (TASE:MNKD) today announced that it entered into definitive agreements with certain institutional investors and other investors in connection with a registered direct offering of an aggregate of 10,166,600 shares of common stock at an offering price of $6.00 per share, for gross proceeds of approximately $61 million. The offering is expected to close on or about October 13, 2017, subject to the satisfaction of customary closing conditions.
This trading just an attitude adjustment.
|
|
|
Post by matt on Oct 11, 2017 9:51:49 GMT -5
I think an offering at $6 without any warrant coverage is nothing to sneeze at given that the stock was $1 and change a few weeks ago. This gives the company some much needed breathing room and removes the risk of near term insolvency regardless of what Deerfield and Amphastar decide, and that can only be characterized as a big win all around. The investors likely shorted the stock yesterday, as is common practice with any PIPE transaction, but they will cover when the new shares are delivered on the 13th so that is not going to create incremental downward pressure on the price.
Now Mike and friends need to show that they can turn the label change into better insurance reimbursement and script growth soon enough to move the needle on Q4 results because cash will be running a bit thin again by the time the 10-K is published. If Q4 and Q1 are strong, it will make the next raise that much easier.
|
|
|
Post by slugworth008 on Oct 11, 2017 9:52:10 GMT -5
Come on... you seriously are complaining about raising capital at $6? We were at less than a dollar not long ago. The only way of building confidence back up is to build capital back up. I think Mike pulled off a show for the ages in managing to run this up and do this deal at $6. Thank you Mike!!! Dbc: cannot say it better myself. Thank you Mike indeed. Foeward and upward, MNKD! Bump it up !!!
|
|
|
Post by sr71 on Oct 11, 2017 10:03:41 GMT -5
I think an offering at $6 without any warrant coverage is nothing to sneeze at given that the stock was $1 and change a few weeks ago. This gives the company some much needed breathing room and removes the risk of near term insolvency regardless of what Deerfield and Amphastar decide, and that can only be characterized as a big win all around. The investors likely shorted the stock yesterday, as is common practice with any PIPE transaction, but they will cover when the new shares are delivered on the 13th so that is not going to create incremental downward pressure on the price. Now Mike and friends need to show that they can turn the label change into better insurance reimbursement and script growth soon enough to move the needle on Q4 results because cash will be running a bit thin again by the time the 10-K is published. If Q4 and Q1 are strong, it will make the next raise that much easier. Why would shorting based upon non-public information not be considered Insider Trading by the SEC?
|
|
|
Post by bill on Oct 11, 2017 10:12:22 GMT -5
I think an offering at $6 without any warrant coverage is nothing to sneeze at given that the stock was $1 and change a few weeks ago. This gives the company some much needed breathing room and removes the risk of near term insolvency regardless of what Deerfield and Amphastar decide, and that can only be characterized as a big win all around. The investors likely shorted the stock yesterday, as is common practice with any PIPE transaction, but they will cover when the new shares are delivered on the 13th so that is not going to create incremental downward pressure on the price. Now Mike and friends need to show that they can turn the label change into better insurance reimbursement and script growth soon enough to move the needle on Q4 results because cash will be running a bit thin again by the time the 10-K is published. If Q4 and Q1 are strong, it will make the next raise that much easier. Why would shorting based upon non-public information not be considered Insider Trading by the SEC? sr71 Correct. It looks like the SEC would not be happy if that occurred: hedgefundlawblog.com/hedge-fund-pipe-transactions.html
|
|
|
Post by derek2 on Oct 11, 2017 10:22:50 GMT -5
I think an offering at $6 without any warrant coverage is nothing to sneeze at given that the stock was $1 and change a few weeks ago. This gives the company some much needed breathing room and removes the risk of near term insolvency regardless of what Deerfield and Amphastar decide, and that can only be characterized as a big win all around. The investors likely shorted the stock yesterday, as is common practice with any PIPE transaction, but they will cover when the new shares are delivered on the 13th so that is not going to create incremental downward pressure on the price. Now Mike and friends need to show that they can turn the label change into better insurance reimbursement and script growth soon enough to move the needle on Q4 results because cash will be running a bit thin again by the time the 10-K is published. If Q4 and Q1 are strong, it will make the next raise that much easier. Exactly that! No warrant coverage!
|
|
|
Post by #NoMoreNeedles on Oct 11, 2017 10:26:54 GMT -5
What happened to the Goldman Sachs price target of 15 cents!? LOL
|
|
|
Post by brotherm1 on Oct 11, 2017 10:28:07 GMT -5
It was pretty much already struck
|
|
|
Post by anderson on Oct 11, 2017 10:31:45 GMT -5
The dominos are falling in line, on time... This puts $57 mil in the bank, and I'd think it's safe to assume MNKD took advantage of the ATM for another $50mil, "coincidentally" with the remaining 10 mil shares @ $5+ ish, banking over $100mil. So within 2 weeks, Wall Street pumps up MNKD 300% so it can give them $61 mil for 9%, because it likes the new CEO? NO! There are no coincidences. This has been the plan, with the label change as the catalyst, all along, and the dominos will continue to fall into place supporting the rise over the next few months. To ask if this is manipulation is naive,,, there is nothing about this game that is NOT manipulation, with insiders knowing everything before we do. And Matt had nothing to do with setting all this up? Our new 40 something year old pharmacist CEO is single handedly taming the FDA, Wall Street, BP, and MNKD's creditors.... suuuuure... I guess I'm venting now, my apologies, it's been a rough couple of years and it all seems more orchestrated now than ever...... and I'm actually happy about it, I was ready this time, I made $40k in 2 weeks with cheap options and rolled it all over into leaps bringing my total break even price just under $10, which I think we'll see in November... Rant over,,,, I apologize again,,,, keep buying the dips, this will be manipulated all the way up to $25+ within 6 to 8 months. I have to agree that the ATM is already tapped out if they are doing an offering. Strike while the iron is hot. With the financial uncertainty out of the way with $100 mil in the bank they have more leverage when negotiating a international partnership deal. My logic as to why the ATM was used is that it was capped in dollars not number of shares so once it went over $5 a share and with the volumes we have been having sneaking in 10 mil shares would not be difficult. So it seams Mike wants more than that while he can get it. My prediction is next up will be a special meeting called to increase the number of authorized shares with the excuse that then need them as a takeover defense and the ATM may be reset at that time as well.
|
|
|
Post by standup on Oct 11, 2017 11:04:07 GMT -5
Not to be too negative but this is akin to going to the gas station every other day to buy 1/16 of a tank of gas because that's all you can afford. Hopefully, we see some significantly meaningful script increases by the end of this quarter. The current 33% growth from such small numbers isn't going to do it.
|
|
|
Post by dreamboatcruise on Oct 11, 2017 11:09:28 GMT -5
Not to be too negative but this is akin to going to the gas station every other day to buy 1/16 of a tank of gas because that's all you can afford. Hopefully, we see some significantly meaningful script increases by the end of this quarter. The current 33% growth from such small numbers isn't going to do it. You need to look at it as 1/16 full rather than 15/16 empty And if it gets you to work and your next paycheck that's enough.
|
|