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Post by cjm18 on May 14, 2019 23:48:11 GMT -5
Cash went from 71.7m (18q4)to 59.8m (19q1).
9.3m was spent on dtc (not happening in q2)
12.5m milestone (not happening in q2)
Does this mean 2q burn will be 15.1m?
Spencer thinks it’s like 24.7m.
What am I missing.
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Post by awesomo on May 15, 2019 0:07:27 GMT -5
I'm assuming they will run some sort of marketing campaign in q2 (they better), so while it may not be $9.3M for TV, there will be some spend for other channels. I mean, MannKind is already doing the Conor Daly sponsorship which must be fairly expensive especially if they are doing things around the race itself. It's fair to say the cash burn will be between 20-25M.
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Post by ktim on May 15, 2019 0:23:08 GMT -5
Cash went from 71.7m (18q4)to 59.8m (19q1). 9.3m was spent on dtc (not happening in q2) 12.5m milestone (not happening in q2) Does this mean 2q burn will be 15.1m? Spencer thinks it’s like 24.7m. What am I missing. If only MNKD management offered guidance. Wow, wouldn't that be special vs people on proboards trying to guess at it. After all this time it seems better to assume very conservatively. So yes, 24.7 burn seems high end (haven't read that myself), but regardless, the burn rate of cash is far too high and not sustainable without a lot of dilution, right? 15 vs 24 burn a quarter... seems like much more important how many quarters we'll continue with anywhere near that cash negative cash flow. We can't be losing $15M a quarter. |
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Post by celo on May 15, 2019 10:28:42 GMT -5
Would the cash burn go away if they signed with a co-partner for 75 million. (half of sanofi agreement). They would lower overall expenses and probably have cash to where they would begin receiving funds from United. They would also continue to receive 35% of any royalties from Afrezza sales. At the point in time that the co-promotion is announced, if they were smart, they would do a small dilution because the share price would be inflated. Seems the way to go.
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Post by Deleted on May 15, 2019 10:43:16 GMT -5
Would the cash burn go away if they signed with a co-partner for 75 million. (half of sanofi agreement). They would lower overall expenses and probably have cash to where they would begin receiving funds from United. They would also continue to receive 35% of any royalties from Afrezza sales. At the point in time that the co-promotion is announced, if they were smart, they would do a small dilution because the share price would be inflated. Seems the way to go. Cash burn will not go away until they reach positive free cash flow. It doesn't matter how much they get in a deal. I'm pretty sure MNKD will get more than $75M in upfront cash. MNKD needs to sign an equity partner so they have skin in the game. Not sure how that will happen with a limited number of available shares. MNKD has learned from the Sanofi deal on how to protect themselves. |
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