4Q 2021 financial results

[peppy]

Feb 25, 2022 9:57:01 GMT -5 mnkdfann said:

Feb 25, 2022 6:24:47 GMT -5 peppy said:

I have to hand it to Steve Binder. 
As of December 31, 2020, the Company did not hold any investments.
Perhaps Steve Binder is a chart reader.

How do you figure? Not all investments are the same. Seems they invested in a lot in bonds and Treasury securities, for example. It appears that 2021 was, generally speaking, a lousy year to invest in those.

From Marketwatch: The total U.S. domestic bond market [in 2021] lost 1.9% last year, as judged by the Vanguard Total Bond Market ETF BND, -0.08%. Long-term Treasurys lost even more, losing 5.0% (as judged by the Vanguard Long-Term Treasury ETF VGLT, -0.34% ).

With rising interest rates forecast, 2022 looks to be even worse. 

I may have it wrong. I believe US treasury bonds are insured.

[pbaumgarten]

Feb 24, 2022 23:21:00 GMT -5 buyitonsale said:

investors.mannkindcorp.com/node/18191/html


Held-to-Maturity Investments — Investments consist of highly liquid investments that are intended to facilitate liquidity and capital preservation. As of December 31, 2021, the Company held $79.9 million of short-term investments and $56.6 million of long-term investments. As of December 31, 2020, the Company did not hold any investments.


Held-to-Maturity Investments — The Company’s investments generally consist of commercial paper, corporate notes or bonds and U.S. Treasury securities. For the year ended December 31, 2021, the Company held short-term and long-term investments of debt securities, including commercial paper and bonds. The Company assesses whether it has any intention to sell the investment before maturity, whether any declines in fair value are the result of credit losses, as well as whether there were other-than-temporary impairments associated with the available for sale investment. The Company intends to hold its investments until maturity; therefore, these investments are stated at amortized cost. The investments with maturities less than 12 months are included in short-term investments and investments with maturities in excess of twelve months are included in long-term investments in the consolidated balance sheets.

So they put 56 million into long term -- or at least greater than 12 month maturity -- bonds? It doesn't seem like a particularly good time to have been buying longer term bonds.

[uvula]

At least they didn't invest it in race cars or basketball games.

[parrerob]

Transcipt

www.fool.com/earnings/call-transcripts/2022/02/25/mannkind-corporation-mnkd-q4-2021-earnings-call-tr/