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Post by brotherm1 on Nov 8, 2020 20:13:45 GMT -5
what about the $40M+ owed to midcap? It’s listed on the balance statement as a short term note. When and how must it be paid?
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Post by brotherm1 on Nov 8, 2020 20:18:53 GMT -5
This? Thomas Smith
... First one TreT, can you talk about some of the work you’re doing on the manufacturing side to prepare for the potential approval and commercialization? Sounds like it could come in 2021 or early 2022? ...
Michael Castagna
Sure. On the manufacturing side, we completed build out of the factory really late last year. So, that was a multimillion dollar investment and about six-month project that’s completed. So, we’ve made commercial supplies within that batch. We really got one piece of equipment coming and finalized, the NDA package. So that’s all here and we’re just wrapping all that up here between now and the end of the year. So, the factory should be in a place to start to make scalable commercial supplies here in the roughly January timeframe. So, we’ll be ready to go on that one.
So, the factory should be in a place to start to make scalable commercial supplies here in the roughly January timeframe. So, we'll be ready to go on that one. LET'S GO ! But, that's mytakeonit I don’t think being ready to go is the same as will be going... |
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Post by pat on Nov 8, 2020 21:46:18 GMT -5
what about the $40M+ owed to midcap? It’s listed on the balance statement as a short term note. When and how must it be paid? 😉 |
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Post by casualinvestor on Nov 9, 2020 0:18:11 GMT -5
Does anyone know about how much is owed to Midcap? I remember hearing that we didn't qualify for tranches, so I'm not sure how many were received. My best guess is 30M or 45M
And with cash burn down to 9M per quarter, that makes milestones from UTHR have more leverage. A 12.5M milestone payment covers one quarter, although I doubt that level of burn will continue for very long.
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Post by celo on Feb 25, 2021 18:52:01 GMT -5
Remember all the back and fourth about burn rate and Mannkind's cash levels. I want to bring this back now 3 months later.
NOW: 50 million in the bank
2Q: 100 million from sale of the building
4Q: 25 million from approval of Tyvaso
Afrezza nearing sustainability
2022: Start receiving money from sales of Tyvaso
The money problems are over!!!
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Post by Clement on Feb 26, 2021 10:00:45 GMT -5
Does anyone know about how much is owed to Midcap? I remember hearing that we didn't qualify for tranches, so I'm not sure how many were received. My best guess is 30M or 45M And with cash burn down to 9M per quarter, that makes milestones from UTHR have more leverage. A 12.5M milestone payment covers one quarter, although I doubt that level of burn will continue for very long. Didn't the 12.5M milestone payments for Tyvaso DPI end in 4Q 2020? |
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Post by Deleted on Feb 26, 2021 18:33:02 GMT -5
Remember all the back and fourth about burn rate and Mannkind's cash levels. I want to bring this back now 3 months later. NOW: 50 million in the bank 2Q: 100 million from sale of the building 4Q: 25 million from approval of Tyvaso Afrezza nearing sustainability 2022: Start receiving money from sales of Tyvaso The money problems are over!!! I don't think MNKD gets $25M upon approval of Tyvaso DPI..... >>>>Under the terms of the agreement, MannKind Corporation will receive an upfront payment of $45 million and potential milestone payments of up to $50 million, dependent upon the achievement of specific development targets. MannKind will also be entitled to receive low double-digit royalties on net sales of the product. In addition, MannKind granted United Therapeutics an option to expand the license to include other active ingredients for the treatment of pulmonary hypertension. Each optioned product would be subject to the payment to MannKind of up to $40 million in additional option exercise and development milestone payments as well as a low double-digit royalty on net sales of any such product.<<< |
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Post by celo on Feb 26, 2021 19:36:02 GMT -5
Mike at the annual report: "I'll just remind people that we also have a $25 million debt available upon Tyvaso DPI approval. So I hope what you see is the company is in a solid financial position. Take us a while to get to where we are and we're really proud of the work that the team has done here across the company and all functions and I just want to next year it will be in a fantastic partner and his team as it really transform mankind from struggling company to major growth company as we go forward for years to come."
I don't know what this "debt" is but it sounded like they have 25 million coming upon approval
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Post by Clement on Feb 26, 2021 19:56:10 GMT -5
Mike at the annual report: "I'll just remind people that we also have a $25 million debt available upon Tyvaso DPI approval. So I hope what you see is the company is in a solid financial position. Take us a while to get to where we are and we're really proud of the work that the team has done here across the company and all functions and I just want to next year it will be in a fantastic partner and his team as it really transform mankind from struggling company to major growth company as we go forward for years to come." I don't know what this "debt" is but it sounded like they have 25 million coming upon approval additional $25M MidCap loan available? (More debt) |
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Post by Deleted on Feb 26, 2021 20:00:17 GMT -5
Mike at the annual report: "I'll just remind people that we also have a $25 million debt available upon Tyvaso DPI approval. So I hope what you see is the company is in a solid financial position. Take us a while to get to where we are and we're really proud of the work that the team has done here across the company and all functions and I just want to next year it will be in a fantastic partner and his team as it really transform mankind from struggling company to major growth company as we go forward for years to come." I don't know what this "debt" is but it sounded like they have 25 million coming upon approval Upon approval of Tyvaso DPI, MNKD has ACCESS to $25M from the Mid Cap Financing Deal. It's there if they want it. Now the question is will they use it?? If he's talking about all of these pending "NEW DEALS" then there would be no reason to tap it. Also Mike said he would use some of the SLB to pay down some of Mid Cap Debt so I don't know why he would pay down and then add more? |
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Post by celo on Feb 26, 2021 20:32:36 GMT -5
I agree. Let's get away from Midcap
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Post by bthomas55ep on Feb 27, 2021 10:14:50 GMT -5
Just thinking out loud. If you were to sell your facility to your potential/eventual acquirer as part of the strategy to ensure health and growth from point A to point B, when the merger/acquisition occurs, you own the plant again. Will be very interested in who...
$100 Million now is a drop in the bucket to a multi-Billion transaction at a time when MNKD can more justify the acquisition price they are holding out for. No risk to the purchaser of the plant, just tighter relationship and more goodwill as they give Mankind the capital needed to ramp up expansion and clear debt. Maratime(sp?) probably closely suggesting to MC which molecules to keep and which to partner. Just my guess. :-) If Tyvasso goes as planned/hoped. Tyvasso revenue could turn right back around and be a major part some acquisition costs(win/win if they both execute), but as everybody puts the success of the launch as the #1 priority, I think the actual results/execution of that has a lot more significance to each companies board than we know. Again, just a little speculation. If UTHR is not the plant acquirer, then forget what I said. LOL.
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Post by akemp3000 on Feb 27, 2021 14:45:39 GMT -5
Mannkind currently has a Letter of Intent. Once the transaction occurs, the new owner of the plant should become public record. It's likely a real estate or financial investment company simply seeking a good return instead of UTHR. UTHR could use a third party to conceal involvement but that's doubtful. IMO, Mannkind will own this plant once again in the not too distant future utilizing a probable lease buy-back clause. It was an excellent move and one certainly preferable to a stock sale to improve the current cash position while waiting for the serious revenue to start coming in. If we were to learn that UTHR is involved in the new ownership of the plant, everything changes but still for the good.
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Post by liane on Feb 27, 2021 14:50:08 GMT -5
I too was thinking MNKD will own the property again.
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Post by letitride on Feb 27, 2021 17:02:59 GMT -5
I was thinking UTHR is not going to allow the plant to fall into unfriendly hands for any price at this point and time contract or no contract.
Lets Go!
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