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Post by neil36 on Nov 7, 2023 7:32:39 GMT -5
Numbers (other than earnings per share) I'll be watching compared to last quarter:
2Q:
Cash and Short Term Investments: $144,347,000
Total debt: $274,431,000 ($226,124 senior notes, $39,478 Mid-Cap Facility, $8,829,000 Mann Group
Total Shares Outstanding: 268,235,000
Product Sales: $29,278,000
Services: $278,000
Royalties: $19,055,000
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Post by Clement on Nov 7, 2023 8:10:02 GMT -5
During Q&A on the recent UTHR earnings call, Mike B said they are adding 500 Tyvaso patients per quarter. I guess that's Tyvaso-total. Assume 2/3 are TDPI. 2/3 times 500 = 333 new TDPI patients per quarter. Translate that to dollars for MNKD by 333/10,000 x $300M/4 = $2.5M .
MNKD Q2 revs were $48.6M. Add $2.5M.
$51.1M is my estimate for Q3 revs after hearing the UTHR earnings call.
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Post by uvula on Nov 7, 2023 8:45:19 GMT -5
Also with the end of the year, it is practically impossible to get an appointment with the endocrinologist. I tried to have a simple dental cleaning and nothing till late January... I've had good luck using a dentist for that. |
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Post by MnkdWASmyRtrmntPlan on Nov 7, 2023 13:01:29 GMT -5
I'm looking forward to an update on the start date of the phase 2/3 clofazimine study. I believe it was to commence in August 2023 but the fire postponed that. Hopefully it will start before the end of the year. Also curious to hear details on the dpi manufacturing capacity increases expected to come online in 2024 that UTHR mentioned on the call. Yeah, I heard Mike say mfg capacity will REALLY increase in Q4. In fact I think he may have actually said in December. That was 3 or 4 presentations ago. |
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Post by MnkdWASmyRtrmntPlan on Nov 7, 2023 13:06:48 GMT -5
I hope somebody here organizes a Chat Shout-out for the EC today.
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Post by cjc04 on Nov 7, 2023 13:44:03 GMT -5
Since digesting UTHR’s 3q numbers, I haven’t seen any thoughts on where all the extra product went.
Since the 2nd Q earnings, a few things were discussed that aren’t adding up for me.
I was under the impression that the increase in production happen in June, which would’ve been 1 month worth in the 2nd Q. So for this 3rd quarter, we would’ve seen 3 full months.
There was also a good discussion here on when the product turns into revenue. When it leaves the dock??
So where did all the increased production go and why wasn’t it in UTHR’s total cos ?
Is it possible that it shows up today in a giant deferred revenue number?
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Post by ptass on Nov 7, 2023 13:44:21 GMT -5
Also curious to hear details on the dpi manufacturing capacity increases expected to come online in 2024 that UTHR mentioned on the call. Yeah, I heard Mike say mfg capacity will REALLY increase in Q4. In fact I think he may have actually said in December. That was 3 or 4 presentations ago. That would be great. Get as many patients on dpi before Liquidia's Yutrepia comes online. Hopefully there's also some details on the potential expansion of afrezza medicare coverage in 2024. |
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Post by boca1girl on Nov 7, 2023 13:54:16 GMT -5
Wasn’t this recently discussed?
I thought we get paid when the channel sells product.
First MNKD was to increase the drying process and then we can build more finished goods to fill the channel. I think we’ll see an increase in differed revenue.
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Post by sr71 on Nov 7, 2023 14:03:06 GMT -5
I've been wondering the same regarding where all the manufactured T-DPI is ending up.
Someone mentioned in the UTHR thread after the recent UTHR 3rd Qtr call that Martine indicated that there is apparently an insurance reimbursement issue for DPI that should be resolved in January.
So I'm thinking maybe UTHR may have needed to sell DPI at a substantial discount in 3rd (and 4th?) Qtr to build market share, which would certainly negatively impact its Net Revenue that the Royalty is based on.
All speculation of course!
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Post by cjc04 on Nov 7, 2023 14:10:54 GMT -5
I've been wondering the same regarding where all the manufactured T-DPI is ending up. Someone mentioned in the UTHR thread after the recent UTHR 3rd Qtr call that Martine indicated that there is apparently an insurance reimbursement issue for DPI that should be resolved in January. So I'm thinking maybe UTHR may have needed to sell DPI at a substantial discount in 3rd (and 4th?) Qtr to build market share, which would certainly negatively impact its Net Revenue that the Royalty is based on. All speculation of course! very possible, and could explain the royalty, but why didn’t the extra manufacturing expense show up in their cos ? |
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Post by sr71 on Nov 7, 2023 14:20:49 GMT -5
Another possibility could be that Martine had MNKD reduce production of DPI due to the insurance issue, but that would seem pretty unlikely to me.
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Post by kite on Nov 7, 2023 16:02:38 GMT -5
MannKind Corporation Reports 2023 Third Quarter Financial Results
Conference Call to Begin Today at 5:00 p.m. (ET)
3Q 2023 Total revenues of $51M; +56% vs. 3Q 2022
3Q YTD 2023 Total revenues of $140M; +121% vs. 3Q YTD 2022
3Q 2023 Net income of $2M; Non-GAAP net income of $4M
3Q 2023 Tyvaso DPI royalties of $20M; +225% vs. 3Q 2022
3Q 2023 Endocrine BU net revenues of $18M; Afrezza net revenues +24% vs. 3Q 2022
DANBURY, Conn. and WESTLAKE VILLAGE, Calif., Nov. 07, 2023 (GLOBE NEWSWIRE) -- MannKind Corporation (Nasdaq: MNKD) today reported financial results for the quarter ended September 30, 2023.
“We had another strong quarter of revenue growth with total revenues exceeding $51 million,” said Michael Castagna, PharmD, Chief Executive Officer of MannKind Corporation. "With the continued success of Tyvaso DPI®, we believe we will continue to have the ability to execute our commercial operating plan and fund our pipeline development efforts."
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Post by cretin11 on Nov 7, 2023 16:05:35 GMT -5
During Q&A on the recent UTHR earnings call, Mike B said they are adding 500 Tyvaso patients per quarter. I guess that's Tyvaso-total. Assume 2/3 are TDPI. 2/3 times 500 = 333 new TDPI patients per quarter. Translate that to dollars for MNKD by 333/10,000 x $300M/4 = $2.5M . MNKD Q2 revs were $48.6M. Add $2.5M. $51.1M is my estimate for Q3 revs after hearing the UTHR earnings call. nice job on your estimate! |
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Post by sayhey24 on Nov 7, 2023 16:06:11 GMT -5
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Post by akemp3000 on Nov 7, 2023 16:07:53 GMT -5
PROFITABLE!! plus $.02. Beats analysts estimates by $.02. If MC's right about the increase in 4Q, that call in February is looking really good.
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