Possible reasons MNKD is being walked down to $3.50?
Nov 28, 2023 17:52:11 GMT -5
BD, sportsrancho, and 4 more like this
Post by Chris-C on Nov 28, 2023 17:52:11 GMT -5
As highlighted earlier, we expect to be plus or minus GAAP breakeven for a number of quarters before we expect to see net income growing on a continuous basis. I will conclude with some additional comments. In the third quarter, we started to pay down our senior secured debt based on our contractual obligation to pay the loan over 24 months beginning in September, and we expect to be able to pay off this debt over the next two years out of operating cash flow. We continue to tightly manage our cash flows and had a reduction in cash and investments of only $2 million in the third quarter as we expect to progress towards achieving positive operating cash flow in the near future.
Thank you and I'll now turn it back over to Mike.
This was still all not as bad as I recalled it. There is some good positive stuff in there, but I am still taken aback by the delay. I know, I know, there are a LOT of loans to be paid off, and I was often wondering how those would affect MNKD's future finances. I was still just the MNKD eternal, hopeful optimist. So, it looks like they expect that delay to be somewhere between a number of quarters and 24 months, which would be December of 2025 (or, hopefully by Q3 2025).
I sold all my non-core shares today at a loss. My other stocks are doing very well in this nice bull run going on, so I will be putting those funds to good use. I will decide if I want to start selling some of my core. I'm really torn about that, but I'm not in my twenty's anymore, ya know what I mean?
I also note that Yahoo Finance's posted 1-year target (I believe it is with 6 analysts) is $6.92. It was previously $7.50, but I doubt that many analysts updated their forecast post-Q3-EC.
Agreed. That was a useful post from Clement and yours was helpful too, @mnkdismyretirementplan. People have different time horizons, and I'm with you regarding the path to share price appreciation. I totally understand that the management team has obligations to pay down debt. I'm finding myself in a quandary. I'm inclined to sell a substantial portion of my core holdings and place it in stocks that are unlikely to be moribund for the near term. One would have thought that ten years would have been a sufficient window to realize decent returns. But that is not the case. I've never placed much faith in analyst target prices. I'd be curious to know whether MNKD has ever reached (and retained) an average target price during the last decade. I'd be surprised. Anyway, GLTAL. I'm going to be shopping for bargains other than the perpetual bargain with the Ticker symbol MNKD.
