|
|
Post by mnkdfann on Jan 2, 2024 22:25:58 GMT -5
Couple things are interesting. It looks like this is the first time we’ve seen in writing what “low double digits” actually means, and what it means is 10%. And the way I read this is 1% of the 10% (or 10% of the overall entitlement) has been sold to Sagard. The rest of my math still holds (for whatever little its worth). That bit made me chuckle. Low double digits indeed. I think that has actually been known since (at least) the Nov 7 Q3 conference call, though. It's mentioned in the shout box transcript. mnkd.proboards.com/thread/13862/q3-cc-shoutbox-transcript"LongMNKD: oh so its 10% royalty rate.. he really did mean low double digits lol 15 minutes ago"
|
|
|
|
Post by uvula on Jan 2, 2024 23:50:54 GMT -5
Why isn't there an actual press release about the Tuesday morning conf call? The only reason we know about it is because someone here saw it on the mnkd website.
Update: I was wrong again. Was mentioned in original pres release.
|
|
|
|
Post by letitride on Jan 3, 2024 0:14:46 GMT -5
Why isn't there an actual press release about the Tuesday morning conf call? The only reason we know about it is because someone here saw it on the mnkd website. It was part of the original press release. Reading is fundamental. |
|
|
|
Post by cjc04 on Jan 3, 2024 3:23:35 GMT -5
Does this maybe explain “we'll be close to break even the next few quarters” ? Because they knew they were giving away 10% of their royalties?
|
|
|
|
Post by sayhey24 on Jan 3, 2024 7:14:55 GMT -5
Does this maybe explain “we'll be close to break even the next few quarters” ? Because they knew they were giving away 10% of their royalties? I wish they could "give away" something else for $150M. I would even take $5M for 100% of V-Go. So far I am liking this deal as we need the money if we are going to really take a shot at growing this company. Lets see the spend plan. If its to give Mike more stock and bonuses then I won't be so happy. |
|
|
|
Post by prcgorman2 on Jan 3, 2024 7:22:08 GMT -5
You can attract a good bit of talent for $200M. (Just kidding as I assume you were too.)
|
|
|
|
Post by prcgorman2 on Jan 3, 2024 7:29:53 GMT -5
Does this maybe explain “we'll be close to break even the next few quarters” ? Because they knew they were giving away 10% of their royalties? Your question is a good one. 10% of $20M (give or take) would make some difference in a tight budget which is what I assume they’ve been working from. And may have inhibited their ability to expand production, complete phases of trials for clofazamine and nintedanib and the Pediatric clinical trial. People gripe about executive compensation, but a big chunk of that has been restricted stock units with what I assume is a par value of 1 cent. i.e. for a small amount of dilution the company doesn’t spend as much cash to compensate leadership. |
|
|
|
Post by sportsrancho on Jan 3, 2024 7:39:00 GMT -5
WTF? Can't even hold $4/share on a decent news. Tomorrow it might hold $5. Stay tuned. Sounds good! See you guys in an hour and a half. |
|
|
|
Post by uvula on Jan 3, 2024 8:04:27 GMT -5
Why isn't there an actual press release about the Tuesday morning conf call? The only reason we know about it is because someone here saw it on the mnkd website. It was part of the original press release. Reading is fundamental. You are of course correct. There were several similar looking articles yesterday. The original press release mentioned the conf call. The other articles that were written by others just summarized things and didn't mention the press release. |
|
|
|
Post by hellodolly on Jan 3, 2024 8:33:30 GMT -5
The distrust in management is deeply scripted into some of these responses it sometimes clouds the better judgement of some and deflects from what MC has said he would do with the reality of what he actually does execute. All along, to paraphrase again "As a CEO, I'm years ahead of what others are thinking." This is just another example of what he's getting done behind the scenes. NOBODY here mentioned this exchange of royalty percentages for cash.
MC doesn't need to pull a rabbit out of the hat today, like telling us he is paying off the Midcap loan, although that would be nice...I'm not sure he would want to telegraph that until after it was done. I'll just be happy with him making note that they are going to be cleaning up the balance sheet. That should tell us all we need to know and all WS wants to know.
We will see at 9am. if the script continues or is rewritten?
|
|
|
|
Post by sportsrancho on Jan 3, 2024 9:09:22 GMT -5
Use of Proceeds
• Goal is to be free from convertible debt by March 2026
- $230M convertible debt ($5.21/share; maturity March 2026)
- $8M Mann Group convertible debt ($2.50/share; maturty December 2025)
• MidCap debt being paid off through operating cash flow
- ~$33M balance January 2024; maturity August 2025)
• Expect annual interest income ~$7.5M if cash is maintained on balance sheet
7 © Copyright 2024. All rights reserved. ManKind Corporation. / 3 January 2024
mannkind
|
|
|
|
Post by neil36 on Jan 3, 2024 9:13:15 GMT -5
"We see our current market cap as SEVERELY UNDERVALUED."
|
|
|
|
Post by cjm18 on Jan 3, 2024 9:15:15 GMT -5
"We see our current market cap as SEVERELY UNDERVALUED." Show me the money! (Buy shares you execs) |
|
|
|
Post by castlerockchris on Jan 3, 2024 9:22:06 GMT -5
Did I hear Mike say they received favorable feedback from the FDA on the MNKD 101 trial at the end of the year? Was that a little Easter Egg or am I just grasping for more good news?
I also liked the clarification on the insulin purchase agreement, which I am guessing they feel the market had overlooked - $50mm savings over four years. That will drop directly to the bottom line.
|
|
|
|
Post by centralcoastinvestor on Jan 3, 2024 9:25:38 GMT -5
This Sagard deal was as much about helping the market value the company as it was to bring in cash to close out the debt by March 2026. Frankly, it was a brilliant move. Mike Castagna and Steven Binder make a very effective team.
|
|
