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Post by akemp3000 on Jul 2, 2022 21:23:10 GMT -5
Am thinking something similar. Actual royalties could be based on a sliding scale therefore no reason to announce an exact number.
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Post by castlerockchris on Jul 2, 2022 23:44:47 GMT -5
My thought is you do not want future partners to know what you are making from your first real deal and frankly from the deal that saved your company. UTHR got a sweet deal from MNKD given the state of the business and unproven nature of their ability to deliver a development program. I would never divulge the terms of a contract, especially royalty payments, it only weakens your ability negotiate future contracts with other parties. Low double digits sets the bar for future partner negotiations in a pretty wide range. If MNKD was to come out and say the royalties are 10% of net revenue, guess where ever future deal with similar partners will be done?
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Post by dh4mizzou on Jul 3, 2022 7:51:16 GMT -5
Akemp.
So what you're saying is what I would align with a salesperson getting an incremental 'bonus' in compensation based on how much they sell (e.g. the more the better).
So for this exercise I'll present the scenario.
10% - $0 to $1,000,00
15% - $1,000,001 - $10,000,000
20% - $10,000,001 - $999,999,999
Of course the next question is.... if they hit the next number in a quarter does the previous amount get allocated at the higher percentage as well?
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Post by uvula on Jul 3, 2022 8:31:09 GMT -5
This message board is so predictable. One person speculates about something. (Compensation sliding scale.) Then other people debate the details. (Sliding scale equation.) And soon everyone forgets that the original thought was just speculation.
Last month it was a debate about whether or not it was smart for MC to tap the ATM.
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Post by agedhippie on Jul 3, 2022 10:39:27 GMT -5
Akemp. So what you're saying is what I would align with a salesperson getting an incremental 'bonus' in compensation based on how much they sell (e.g. the more the better). So for this exercise I'll present the scenario. 10% - $0 to $1,000,00 15% - $1,000,001 - $10,000,000 20% - $10,000,001 - $999,999,999 Of course the next question is.... if they hit the next number in a quarter does the previous amount get allocated at the higher percentage as well? Tis is where it would be nice to have Matt in the conversation. This will all become clear in the first quarter report when revenue from UTHR is shown. It may be complicated if licensing and manufacturing are bundled, but I think they are meant to be separate revenue line items. Typically the rate for each tier gets applied at that tier. For example; on $9M you get (10% of 1M) + (15% of 8M). It means the effective royalty rate is lower than the top tier rate. If we are placing bets I would expect the effective royalty rate to end up around 15% at volume. |
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Post by tingtongtung on Jul 3, 2022 14:17:40 GMT -5
This message board is so predictable. One person speculates about something. (Compensation sliding scale.) Then other people debate the details. (Sliding scale equation.) And soon everyone forgets that the original thought was just speculation. Last month it was a debate about whether or not it was smart for MC to tap the ATM. Did they use ATM or not? Thanks.. |
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Post by mnkdfann on Jul 3, 2022 15:06:37 GMT -5
Some articles I've seen (on different sites) cite a 12% royalty rate and source this back to something analyst Thomas Smith of Leerink supposedly said. Smith has been on, and asked questions on, some Mannkind earnings calls. I imagine he is making an educated guess. Or else he is being miscited.
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Post by uvula on Jul 3, 2022 18:50:53 GMT -5
This message board is so predictable. One person speculates about something. (Compensation sliding scale.) Then other people debate the details. (Sliding scale equation.) And soon everyone forgets that the original thought was just speculation. Last month it was a debate about whether or not it was smart for MC to tap the ATM. Did they use ATM or not? Thanks.. We have no information about this. |
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Post by MnkdWASmyRtrmntPlan on Jul 4, 2022 8:14:35 GMT -5
251,887 = Reported Shares End of 2021
249,244 = Reported Shares End of First Quarter 2022
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2,643 = Increase in shares during First Quarter 2022
I think that is probably just the shares that they gave themselves in Q1 for the great job they have done. Take that with as much sarcasm as you will (or won't), but my point is that I don't think they hit the ATM in the first quarter. To get a better idea, one would have to add up the shares that all the officers got in Q1.
In my opinion, I don't think the share price was ever high enough in Q1 to use the ATM for. Hopefully, when Q2 results are released and the Tyvaso revenue is bountiful, SP will justify ATM usage.
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Post by prcgorman2 on Jul 4, 2022 9:40:27 GMT -5
If your dates and numbers are correct, it is actually showing a decrease in shares indicating a share buy-back of some sort in Q1. Did you accidentally reverse either the dates or the numbers on the reported shares?
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Post by parrerob on Jul 4, 2022 13:30:37 GMT -5
Common stock Jan 1st 22
251,478
Common stock March 31st 22
252,413
Info from mnkd investor page
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Post by phdedieu12 on Jul 4, 2022 16:02:09 GMT -5
This message board is so predictable. One person speculates about something. (Compensation sliding scale.) Then other people debate the details. (Sliding scale equation.) And soon everyone forgets that the original thought was just speculation. Last month it was a debate about whether or not it was smart for MC to tap the ATM. Did they use ATM or not? Thanks.. no! |
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Post by peppy on Jul 4, 2022 16:27:34 GMT -5
This message board is so predictable. One person speculates about something. (Compensation sliding scale.) Then other people debate the details. (Sliding scale equation.) And soon everyone forgets that the original thought was just speculation. Last month it was a debate about whether or not it was smart for MC to tap the ATM.Since you bring that up..... when I saw this, It made me look at the possible ATM tap differently. Regarding predictable, your post and mine.   |
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