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Post by ptass on Mar 12, 2020 21:42:09 GMT -5
If we file within 1 year how long after will we start seeing revenue?
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Post by ktim on Mar 13, 2020 1:46:11 GMT -5
If we file within 1 year how long after will we start seeing revenue? I think it's been stated as going to market late 2021 or early 2022.
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Post by ptass on Mar 13, 2020 12:30:52 GMT -5
Thanks. Any idea how long we can go before more cash is needed. I'm thinking we can make it until the end of the 2nd qrt 2021 but this is nothing more than a guess.
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Post by ktim on Mar 13, 2020 12:42:59 GMT -5
Thanks. Any idea how long we can go before more cash is needed. I'm thinking we can make it until the end of the 2nd qrt 2021 but this is nothing more than a guess. Which of the Midcap tranches are you wanting to factor in? Though no matter, it's hard to imagine the numbers working without further dilution. In my view this has too many moving parts to model with any degree of certainty as for share price value, though discounting total market disaster where they can't find funding, I think selling is overblown... though selling could easily still get further overblown [IMHO]. Too bad people hounded Spencer to stop posting his spread sheets showing cash flow. Some of the biased vocal people believe showing cash flow must be prevented at all costs.
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Post by prcgorman2 on Mar 13, 2020 13:20:53 GMT -5
+1 on SOs cash analysis. "Cash is king". This overreaction to Corona has provided some eye-opening opportunities to consider worst case scenarios. MNKD is currently in NASDAQ de-listing territory. The last time that happened we endured a 1:5 Reverse Split. If MNKD does not recover above a dollar, things could get dicey. Would Mannkind RS again? Would Mannkind simply permit delisting and hit the pink sheets? Some large companies did that simply because of SOX, not because of market listing requirements. Would that remove dilution as an opportunity for raising bridge capital? Or, is a direct offer (I forget the name) be a possibility? (I assume not, but forget the reasons I've read before.) Is more debt possible without deadly poisonous terms? How about another partner? (UTHR-type, not RLS.) I suspect additional debt may become a more viable option depending on how things go in the finance industry. They're not yet sitting on another pile of unrecoverable debt and the Fed is suddenly very concerned with avoiding a recession/depression. Lots to ponder.
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Post by ktim on Mar 13, 2020 15:00:23 GMT -5
+1 on SOs cash analysis. "Cash is king". This overreaction to Corona has provided some eye-opening opportunities to consider worst case scenarios. MNKD is currently in NASDAQ de-listing territory. The last time that happened we endured a 1:5 Reverse Split. If MNKD does not recover above a dollar, things could get dicey. Would Mannkind RS again? Would Mannkind simply permit delisting and hit the pink sheets? Some large companies did that simply because of SOX, not because of market listing requirements. Would that remove dilution as an opportunity for raising bridge capital? Or, is a direct offer (I forget the name) be a possibility? (I assume not, but forget the reasons I've read before.) Is more debt possible without deadly poisonous terms? How about another partner? (UTHR-type, not RLS.) I suspect additional debt may become a more viable option depending on how things go in the finance industry. They're not yet sitting on another pile of unrecoverable debt and the Fed is suddenly very concerned with avoiding a recession/depression. Lots to ponder. Are you sure about that? I know some companies cited SOX as reason for going private, but I don't recall any that delisted but remained public companies (i.e. pink sheet traded). I'm no securities law expert though. I've had a few occasions over my long investing career of having companies delisted... you really don't want to experience that if you haven't already. On the debt perspective, we are now in the same position with Midcap as we were with Deerfield. Midcap isn't going to subordinate to anyone and no one else is going to jump in as subordinate (yes, I can't say never, just talking how things almost always happen). I remain optimistic on Midcap.
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