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Post by sportsrancho on Jun 21, 2018 7:18:50 GMT -5
Not sure if thats a ad or are the ones doing it?
JMP Group LLC is a full-service investment banking and asset management firm that provides investment banking, sales and trading, and equity research services to corporate and institutional clients as well as alternative asset management products to institutional and high-net ...
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Post by mnkdfann on Jun 21, 2018 7:42:58 GMT -5
Not sure if thats a ad or are the ones doing it? JMP Group LLC is a full-service investment banking and asset management firm that provides investment banking, sales and trading, and equity research services to corporate and institutional clients as well as alternative asset management products to institutional and high-net ... You mean on the page at the link you posted? Nothing there about any JMP Group LLC when I looked, so presumably what you saw was an ad?
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Post by Deleted on Jun 22, 2018 10:37:31 GMT -5
How many upgrades to the stock after this meeting? Technically it would be "INITIATE COVERAGE" of MANNKIND since NO ONE covers it.
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Post by Deleted on Jun 22, 2018 10:40:29 GMT -5
I suspect this is why wainwright and maxim have downgraded us and discontinued coverage respectively... Could it be we have cleared up enough debt and now have a very credible CMO and are now able to attract Tier 1, 2 or 3 banks to finance us moving forward and possibly regain some analyst coverage? I imagine this meeting is basically saying to them ‘hey, we now have the head to head data to support Afrezza growth and a new product in TrepT that will likely garner a partner, so now is your chance to get in on the ground floor.’ Nah I think Mannkind feels they have ARRIVED and no longer need Toxic Financing. It's time to attract Top Tier Investors who believe in their story and future. This is a very positive step for MNKD.
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Post by Deleted on Jun 22, 2018 10:45:51 GMT -5
It’s by invitation only. Is that common? This is a SPECIAL INVITE EVENT. MNKD is selecting certain Institutions and Banks to the table. MNKD wants to others to know who is at the table. I'm sure the BIG BOYS will be there - Goldman, JP Morgan, Wells, T Rowe Price, Janus, Blackrock, etc. This list goes on. This will be MANNKIND's COMING OUT PARTY.
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Post by Deleted on Jun 22, 2018 10:47:28 GMT -5
I'm not familiar with NYC. But a bit of googling shows that Wainwright has hosted a number of investor events at the Lotte New York Palace Hotel. In fact, they are just steps from one another (a 5 minute walk, or less). Maybe that is just coincidence. My guess is that this event is Wainwright orchestrated (whether advertised as such or not), and a share offering will be announced within a few days of it (as was the case with Wainwright's Monte Carlo event a couple of months back). (Google says Mannkind has attended a Wainwright event at the Lotte hotel in the past). I guarantee you Wainwright nor MAXIM will be INVITED.
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Post by Deleted on Jun 22, 2018 10:57:10 GMT -5
Why would MNKD hold an INVITATION ONLY Event the DAY AFTER ADA? They have never held in I/O event. I'm sure HCW is not controlling this event. MNKD is the driver now and do not have to rely on Toxic Money. HCW and MAXIM have either dropped or lower their numbers because they are out of the picture. With all of the positive momentum MNKD there is no good reason for them to drop coverage unless MNKD does not need them anymore. MNKD is ready to play with the BIG BOY BANKS and will get coverage and real money soon.
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Post by traderdennis on Jun 22, 2018 10:59:09 GMT -5
I'm not familiar with NYC. But a bit of googling shows that Wainwright has hosted a number of investor events at the Lotte New York Palace Hotel. In fact, they are just steps from one another (a 5 minute walk, or less). Maybe that is just coincidence. My guess is that this event is Wainwright orchestrated (whether advertised as such or not), and a share offering will be announced within a few days of it (as was the case with Wainwright's Monte Carlo event a couple of months back). (Google says Mannkind has attended a Wainwright event at the Lotte hotel in the past). I guarantee you Wainwright nor MAXIM will be INVITED. Casper, I will go with historical facts versus hopiem. If you looks at the last two financings they have been brutal to retail investors. October 2017 when retail was paying $6.00+ while the big boys were shorting and covering with their finance shares. The last one in April has not gone so well either. Same type of conference announced. This post was just a warning for those retails to be very careful. No reason to believe it will be different. As for my position, I am currently holding a lotto calls for June 29 and July 20. If there is a bump in the price, I will take out a swing short until they announce the secondary, with my lotto calls as a hedge. If the stock price does not move into the 2.50-3.00 range after ADA, this conference will generate a very toxic financing as MNKD will have to assume the $2.38 warrants are very likely not going to be exercised. I would target about $1.50 if the worst case comes in. It is also less about who the banks / investment houses are there as to who the investors are. If it is Sabby, longs are in a world of hurt.
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Post by sportsrancho on Jun 22, 2018 11:00:36 GMT -5
Why would MNKD hold an INVITATION ONLY Event the DAY AFTER ADA? They have never held in I/O event. I'm sure HCW is not controlling this event. MNKD is the driver now and do not have to rely on Toxic Money. HCW and MAXIM have either dropped or lower their numbers because they are out of the picture. With all of the positive momentum MNKD there is no good reason for them to drop coverage unless MNKD does not need them anymore. MNKD is ready to play with the BIG BOY BANKS and will get coverage and real money soon. You know that’s music to my ears.. I hope you’re right, that’s what I thought in the beginning but then I got talked out of it:-))
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Post by matt on Jun 22, 2018 11:42:06 GMT -5
I could be wrong but I recall seeing an article that said Maxim had stopped covering Mnkd and i interpreted the recent downgrade from Wainwright as others did that we had moved on, so my hope (not a strategy) was that we might attract a larger bank using the results from the stat study as the basis. Guess we will find out soon. The larger banks all do fully underwritten offerings, and MNKD is not in that league. For those that don't understand the difference, in a fully underwritten offering the bank buys the stock for an agreed price from the company and then it is their responsibility to find buyers at a higher price. In a "best efforts" offering the bank agrees to search for buyers but if not enough buyers appear at an acceptable price then the deal is undersubscribed and the balance of the stock goes unsold. Virtually all PIPE offerings for small companies are done on a best efforts basis. Banks like Maxim and Wainwright have lots of private investors they can go to including high net worth individuals, family offices, micro cap funds, and others who will buy almost any stock if the discount and warrants are good enough. The other reason a big bank is not going to do an underwritten offering is that the demands for MNKD shares is simply not there. Average volume of around 1 million shares per day on a sub 2$ stock creates a big risk that the underwriters will be stuck with a lot of stock they can't resell for a price higher than what they paid for it. If daily volume was 10 million or 15 million shares it might be different, but a daily turnover of $2 million in value is tiny by Wall Street terms. Remember that MNKD has a market cap < $300 million so stay realistic. However, there are lots of middle tier banks that are better than Maxim and Wainwright, but not in the Merrill-Lynch, Goldman, UBS category. They tend to have a different type of clientele and that would be good for MNKKD because the new buyers would not be dumping the shares the next day. Many of these banks are well-established regional players with some national reach as well and if that is who got invited to the presentations then that is a positive. Management is trying to take the right steps; we will have to see who handles the next raise before we know if they have been successful or not.
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Post by mnkdfann on Jun 22, 2018 12:59:53 GMT -5
I could be wrong but I recall seeing an article that said Maxim had stopped covering Mnkd and i interpreted the recent downgrade from Wainwright as others did that we had moved on, so my hope (not a strategy) was that we might attract a larger bank using the results from the stat study as the basis. Guess we will find out soon. The larger banks all do fully underwritten offerings, and MNKD is not in that league. For those that don't understand the difference, in a fully underwritten offering the bank buys the stock for an agreed price from the company and then it is their responsibility to find buyers at a higher price. In a "best efforts" offering the bank agrees to search for buyers but if not enough buyers appear at an acceptable price then the deal is undersubscribed and the balance of the stock goes unsold. Virtually all PIPE offerings for small companies are done on a best efforts basis. Banks like Maxim and Wainwright have lots of private investors they can go to including high net worth individuals, family offices, micro cap funds, and others who will buy almost any stock if the discount and warrants are good enough. My niece, until recently, worked for Goldman Sachs and was involved a number of IPOs there. Including some bigs ones you likely have heard of. She described the roadshows to me. Some of it struck me as bizarre, it was so out of my experience. One particular day the execs of a company doing an IPO (now with a $2B market cap) were making private one on one presentations to well heeled investors. One foreign family (I won't mention ethnicity so as not to inadvertently offend anyone) was in the room with the CEO, CFO, etc., as they made their pitch. The husband spoke English. The wife may or may not have. And the kids !!! were there as well, probably bored out of their minds but sitting respectfully. The bankers were not in the room. She told me how some (maybe most) big investors don't want to see or speak with the banking people. They want to only discuss things with the execs of the company that is doing the IPO. But those execs know nothing. I mean, they know what the company does, but many (or maybe even most) execs for these IPO companies are too new to know the financials inside out, or what to say or not say so as not to spook the investors. So the bankers are in one room feeding the numbers and story to the execs, then the execs go into another room to talk to the investors. (My niece left GS recently to take a better job at one of the major silicon valley companies.)
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Post by cjc04 on Jun 26, 2018 13:41:35 GMT -5
Any ideas where we stand with cash on hand? Is MNKD trying to rush a deal to have the Deerfield $20mil day hand by Sunday?
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Post by bones1026 on Jun 26, 2018 14:30:59 GMT -5
Any ideas where we stand with cash on hand? Is MNKD trying to rush a deal to have the Deerfield $20mil day hand by Sunday? No idea re: cash on hand...but absolutely insane that in the past few weeks we have come out with another drug in our pipeline that has passed Phase 1 trials (with a big market) and had Afrezza validated by STAT study to prove its the best mealtime insulin on the PLANET..and yet our SP hasn’t moved!!! It’s hard not to be completely frustrated...based on the conversations I was reading this weekend re: STAT results, never in a million years did I think this is where we would be at closing bell on Tuesday..
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Post by mnkdfann on Jun 26, 2018 14:34:59 GMT -5
Any ideas where we stand with cash on hand? Is MNKD trying to rush a deal to have the Deerfield $20mil day hand by Sunday? No idea re: cash on hand...but absolutely insane that in the past few weeks we have come out with another drug in our pipeline that has passed Phase 1 trials (with a big market) and had Afrezza validated by STAT study to prove its the best mealtime insulin on the PLANET..and yet our SP hasn’t moved!!! It’s hard not to be completely frustrated...based on the conversations I was reading this weekend re: STAT results, never in a million years did I think this is where we would be at closing bell on Tuesday.. A study with a small sample size with a lot of results that were NOT statistically significant. Perhaps I am too pessimistic, but I don't see how such a study will meaningfully drive share price let alone change SOC.
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Post by lennymnkd on Jun 26, 2018 15:00:58 GMT -5
I thought the Cgm with its accuracy would midigate the need for a bigger patient population/ guess not 🙁
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