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Post by oldfishtowner on Oct 10, 2017 7:35:50 GMT -5
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Post by lakers on Oct 10, 2017 15:51:19 GMT -5
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Post by celo on Oct 10, 2017 17:23:14 GMT -5
Nate quote from article: "I cannot help but think that based on the massive volume we have seen in the past few days that word might be leaking out about a possible partnership, or similarly big announcement, as it is quite likely that the terms of any discussions that had been underway would almost certainly have been contingent on the new FDA label."
Oh yeah, I agree and when it happens look out!
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Post by BD on Oct 10, 2017 22:17:50 GMT -5
Noticed that this "interviewer" is the CEO of a company Nate works for as a portfolio manager. Nate may be a wunderkid, but this is more of a sales pitch for Nate than anything else.
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Post by patten1962 on Oct 11, 2017 15:35:23 GMT -5
Lakers, help me understand: 1. Sp goes from $1.80 To over $5 In a few weeks. 2. LABEL CHANGE! 3. Institutional investors buy 60 million in stock at $6 a share. 4.Options market is going crazy. I understand #3 is Dilution but it's $6 a share. I would think that's a positive sign. Why does the market react the way it did today?
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Post by lakers on Oct 11, 2017 16:26:56 GMT -5
10% dilution, 18.48% Pps drop, overdone, shorts piled in. After this Week, Pps might float back to $6. Mnkd can now negotiate in a better position of strength. Next on deck are ER, international expansions, STAT completion 10/15/17.
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Post by n8 on Oct 11, 2017 16:34:23 GMT -5
10% dilution, 18.48% Pps drop, overdone, shorts piled in. After this Week, Pps might float back to $6. Mnkd can now negotiate in a better position of strength. Next on deck are ER, international expansions, STAT completion 10/15/17. Wasnt MR. Pile estimating a 30% haircut? Somewhere in the flurry last week, it was posted that it could be 30% and was part of his predictions on the eventual share price and market cap I thought.
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Post by Chris-C on Oct 11, 2017 16:52:37 GMT -5
10% dilution, 18.48% Pps drop, overdone, shorts piled in. After this Week, Pps might float back to $6. Mnkd can now negotiate in a better position of strength. Next on deck are ER, international expansions, STAT completion 10/15/17. Lakers Agreed. But the market always overreacts and the shorts took advantage to pile on. Expected outcome. STAT completion will be an opportunity to get some positive publicity (we expect), but I don't expect anything official until after 11/1 earliest. What are your thoughts Lakers? Mike C. seems to have a great ability to do strategic planning, so I'm sure the data release will be timed with maximum beneficial impact in mind. One key question is how soon we can reasonably expect to see scripts improve based on label changes. I would have expected the field reps to begin using the approved changes as soon as the FDA announced, but someone posted that the sales force was receiving special training based on the new label in coming days. Not much has been said about the FDA's decline of a new "ultra fast category" for Afrezza classification, but no matter, the graph on the new label speaks for itself for those who can do read and do math. The "fast in, fast out" (insulin, outsulin) message is an important one for Afrezza, so I look for the company to continue emphasizing that advantage. If somehow Mannkind could negotiate a deal in China, that would be a catalyst for a real short squeeze. It's difficult to know how much the short position unwound over the past week, but I think the plurality view is that any unwinding was done by retail investors only. Available data seem to support this.In other words, the battle continues, but we now have some fresh ammunition and provisions to keep fighting for at least six months. And there are still more shares available for management to use when the latest cash infusion gets low. GLTAL Chris-C
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Post by babaoriley on Oct 11, 2017 18:38:25 GMT -5
First, I agree the sell off was overdone, but I think blame can be spread a bit more than is being done by posters.
Sure, some shorts were active today, but some may have also taken the opportunity to cover. Don't sell "short" the notion that a significant number of folks who were long on MNKD took profits today. To some, much of the price appreciation now appeared orchestrated to take advantage of the label change catalyst and the ensuing run-up to raise the equity. If I were a $6 buyer of that offering, I wouldn't be pleased. I just hope there's no price adjustment in that offering - those folks can be such big whiners!
Yesterday's move was so strong that notwithstanding getting a nice price for that money raise, many decided to sell. And, if nothing else, the many day traders that had been drawn to MNKD like moths to a flame over the last 7 or so trading days, probably either sat on the sidelines when hit with the news, or actually sold short on a short term basis (not our traditional shorts that hang on like barnacles).
All this noise will pass soon and more fundamental news will be needed.
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Post by dreamboatcruise on Oct 11, 2017 18:58:56 GMT -5
First, I agree the sell off was overdone, but I think blame can be spread a bit more than is being done by posters. Sure, some shorts were active today, but some may have also taken the opportunity to cover. Don't sell "short" the notion that a significant number of folks who were long on MNKD took profits today. To some, much of the price appreciation now appeared orchestrated to take advantage of the label change catalyst and the ensuing run-up to raise the equity. If I were a $6 buyer of that offering, I wouldn't be pleased. I just hope there's no price adjustment in that offering - those folks can be such big whiners!Yesterday's move was so strong that notwithstanding getting a nice price for that money raise, many decided to sell. And, if nothing else, the many day traders that had been drawn to MNKD like moths to a flame over the last 7 or so trading days, probably either sat on the sidelines when hit with the news, or actually sold short on a short term basis (not our traditional shorts that hang on like barnacles). All this noise will pass soon and more fundamental news will be needed. I've become confused now. Do we actually know that any investors signed up at $6. I haven't looked into all the statements/documents but some things posted today seem to indicate this is just an offering not a done deal... and of course no one would pay a premium over market to buy shares directly. If it wasn't a done deal I would think they would have structured it to be at a price of some average of trading price over a certain number of days minus a % discount. Does anyone know which if there is any committed money? I was singing the praises of Mike earlier today when I thought this was "check is in the mail" money. Hopefully I'm now worried because of lack of info that someone can fill in.
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Post by compound26 on Oct 11, 2017 19:13:15 GMT -5
First, I agree the sell off was overdone, but I think blame can be spread a bit more than is being done by posters. Sure, some shorts were active today, but some may have also taken the opportunity to cover. Don't sell "short" the notion that a significant number of folks who were long on MNKD took profits today. To some, much of the price appreciation now appeared orchestrated to take advantage of the label change catalyst and the ensuing run-up to raise the equity. If I were a $6 buyer of that offering, I wouldn't be pleased. I just hope there's no price adjustment in that offering - those folks can be such big whiners!Yesterday's move was so strong that notwithstanding getting a nice price for that money raise, many decided to sell. And, if nothing else, the many day traders that had been drawn to MNKD like moths to a flame over the last 7 or so trading days, probably either sat on the sidelines when hit with the news, or actually sold short on a short term basis (not our traditional shorts that hang on like barnacles). All this noise will pass soon and more fundamental news will be needed. I've become confused now. Do we actually know that any investors signed up at $6. I haven't looked into all the statements/documents but some things posted today seem to indicate this is just an offering not a done deal... and of course no one would pay a premium over market to buy shares directly. If it wasn't a done deal I would think they would have structured it to be at a price of some average of trading price over a certain number of days minus a % discount. Does anyone know which if there is any committed money? I was singing the praises of Mike earlier today when I thought this was "check is in the mail" money. Hopefully I'm now worried because of lack of info that someone can fill in. Looks like a done deal for me. Note the highlighted wording in the press release from Mannkind. investors.mannkindcorp.com/releasedetail.cfm?ReleaseID=1043467MannKind Announces $61 Million Registered Direct Offering of Common Stock PDF Add to Briefcase WESTLAKE VILLAGE, Calif., Oct. 11, 2017 (GLOBE NEWSWIRE) -- 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.
"With this offering, we have made substantial progress in our efforts to recapitalize the company," said Michael Castagna, Chief Executive Officer of MannKind. H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering. After deducting the placement agent's fees, the net proceeds to MannKind are expected to be approximately $57.7 million. MannKind intends to use the net proceeds from the offering for working capital and general corporate purposes. The shares are being offered pursuant to a shelf registration statement on Form S-3 that was previously filed with the Securities and Exchange Commission (SEC) and declared effective on April 27, 2016. A final prospectus supplement related to the offering will be filed with the SEC, and will be available on the SEC's website located at www.sec.gov and may also be obtained by contacting MannKind at 30930 Russell Ranch Road, Suite 301, Westlake Village, CA 91362, Attn: Investor Relations, or by telephone at (818) 661-5000; or from the placement agent at H.C. Wainwright & Co. LLC, 430 Park Avenue, 4th Floor, New York, New York 10022, by calling (646) 975-6996 or emailing placements@hcwco.com.
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Post by brotherm1 on Oct 11, 2017 19:32:21 GMT -5
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Post by compound26 on Oct 11, 2017 19:34:43 GMT -5
I've become confused now. Do we actually know that any investors signed up at $6. I haven't looked into all the statements/documents but some things posted today seem to indicate this is just an offering not a done deal... and of course no one would pay a premium over market to buy shares directly. If it wasn't a done deal I would think they would have structured it to be at a price of some average of trading price over a certain number of days minus a % discount. Does anyone know which if there is any committed money? I was singing the praises of Mike earlier today when I thought this was "check is in the mail" money. Hopefully I'm now worried because of lack of info that someone can fill in. Looks like a done deal for me. Note the highlighted wording in the press release from Mannkind. investors.mannkindcorp.com/releasedetail.cfm?ReleaseID=1043467MannKind Announces $61 Million Registered Direct Offering of Common Stock WESTLAKE VILLAGE, Calif., Oct. 11, 2017 (GLOBE NEWSWIRE) -- 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.
"With this offering, we have made substantial progress in our efforts to recapitalize the company," said Michael Castagna, Chief Executive Officer of MannKind. dreamboatcruise Also, most of us (including me) seem to have a short memory here. So it always helps to check historical data. Looks like the same thing (significant PPS drop the next trading day) happened for the last offering announced in May 9, 206. MannKind Announces Pricing of Registered Direct Public Offering of Common Stock and Warrants VALENCIA, Calif., May 09, 2016 (GLOBE NEWSWIRE) -- MannKind Corporation (Nasdaq:MNKD) (TASE:MNKD) today announced the pricing of a registered direct public offering of up to 48,543,692 shares of common stock and warrants to purchase up to an aggregate of 48,543,692 shares of common stock to select institutional investors. Each share of common stock is being sold together with a warrant to purchase 0.75 of a share of common stock (A Warrants) and a warrant to purchase 0.25 of a share of common stock (B Warrants) for a combined purchase price of $1.03. The A Warrants will be exercisable at a price of $1.50 per share beginning upon issuance and will expire two years thereafter. The B Warrants will be exercisable at a price of $1.50 per share beginning in May 2017 and expire 18 months thereafter. The shares of common stock and the warrants will be immediately separable and will be issued separately. The offering is expected to close on or about May 12, 2016, subject to customary closing conditions. investors.mannkindcorp.com/releasedetail.cfm?ReleaseID=970091finance.yahoo.com/quote/MNKD/history?period1=1451628000&period2=1507698000&interval=1d&filter=history&frequency=1dThe closing price on May 9, 2016 was $6.60 (reverse split adjusted). ( Note it was very close to the closing price of yesterday!) And then the offering was announced after hours ( just like what happened yesterday!). The offering price was $5.15 (reverse split adjusted), and guess what, where did we close the next trading day? $4.75, down 22%. ( How similar to today's closing?) PPS then reached an intra-day low of $4.25 on May 12 ( the closing date of the offering), but closed at $4.6 on May 12. PPS then basically hovered around $5 (i.e., around the offering price for the financing) for about three months until late August 2016 where it started a downward trend until that trend ended not long ago. Note that in 2016, between March 18 and March 24 (5 trading days), PPS surged to above $10 (adjusted price based on reverse split) on high volume (how similar to this week's run!) from a low of $3.30 in Jan. 8, 2016. I was surprised and disappointed that management at that time did not take advantage of the run and raise some capital. I am very pleased that Mike and his team did take advantage of this run and raise a good sum of capital. I also noticed that the haircut of the offering price is much less this time compared with the 2016 offering (and we did not even need to attach any warranties to attract the investors this time)! That's great and seems very bullish to me!
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Post by brotherm1 on Oct 11, 2017 20:00:40 GMT -5
Good stuff compound. Thanks!
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Post by anderson on Oct 11, 2017 20:32:03 GMT -5
Which foundation? So it sounds like part of it is a done deal. " the sale of 166,600 shares issued a foundation in this offering"
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