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Post by porkini on Oct 31, 2024 13:06:29 GMT -5
That sort of designation, or a low cost to borrow, tells you that the short position is small. If there really was an 83% short position shares would definitely not be easy to borrow! 240 million shares/ 100 % = 40 million short shares/ x 16.666666% Short interest, just checked, according to Fidelity: Short % As of Oct-15-2024 15.91% Shares short 42.94 (M) +0.46 (M) Days to cover 22.78 -0.76 Prior shares short As of Sep-30-2024 42.48 (M) Prior days to cover 23.54 Info: Updated twice a month, this data represents shares that have been sold short and not yet repurchased. This data is typically viewed as an indicator of pessimism in the security. Short Interest data is available for securities listed on NYSE and NASDAQ. Short percentage (%) The number of short shares divided by floating shares (shares that are publicly owned, unrestricted, and available). Shares short The number of short shares. Days to cover The number of short shares divided by the security’s average 30-day volume. This tells you how many days it would take to repurchase the short shares outstanding based on the security's average 30-day volume. |
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Post by letitride on Oct 31, 2024 17:39:44 GMT -5
That ETB had a short life span. They keep shorting at this rate it will soon be N/ATB.
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Post by celo on Nov 5, 2024 11:31:39 GMT -5
Is this day 6 or 7 of having the price above 6.77. 20 out of 30 is right around the corner. Not sure about if it is necessary to end the quarter above 6.77 as Anderson seems to have shown I may be wrong. Let's just stay in the 7s (or higher) for the rest of the year and then it won't matter.
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rebby
Researcher
Posts: 79
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Post by rebby on Nov 5, 2024 13:28:01 GMT -5
Is this day 6 or 7 of having the price above 6.77. 20 out of 30 is right around the corner. Not sure about if it is necessary to end the quarter above 6.77 as Anderson seems to have shown I may be wrong. Let's just stay in the 7s (or higher) for the rest of the year and then it won't matter. Today will be day 7. |
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Post by letitride on Nov 6, 2024 5:10:31 GMT -5
Im waiting on 10 dollars that is. Lets Go!
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Post by anderson on Nov 7, 2024 10:35:56 GMT -5
Now that we are above the conversion and call price the question is, when will MNKD start running the ATM so there is less dilution, but MNKD will still have a nice lump of cash in its treasury? My thinking is MNKD would only have 17 mil in cash/equivalents if they paid off in full and that does not seem like enough of a safety blanket(1 quarters expenses is around 56mil). So when do you run the ATM. Before or after payoff?
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Post by prcgorman2 on Nov 7, 2024 10:51:20 GMT -5
If MNKD share price remains above the call price for 20 out of 30 trading days in this quarter (so another 12 or so days), I understand that triggers the situation where MannKind could retire the convertible bonds starting in the 1st quarter of 2025, but does that condition remain for the duration of the bond term? I recall there are terms which affect early retirement of the debt in terms of all or partial but I am curious if the 20 out of 30 trading days above $6.77 is a simple binary event that permits early retirement, or are there obligations to take particular actions in particular timeframe(s)?
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Post by dh4mizzou on Nov 12, 2024 10:53:18 GMT -5
Am I counting right? Will we hit 20 days if we remain above the $6.77 SP through the close on November 22nd?
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Post by casualinvestor on Nov 12, 2024 11:22:36 GMT -5
Looking at the MNKD bottom line and cash on hand, there's no way that they can retire all of the bonds without some dilution or getting another loan. As to when that happens, there's another whole year before MNKD has to pay back this 2.5% loan. In that time MNKD may end up +$40M in cash flow. But I don't know the ins and outs of why one time would be better than another.
Even though the company is cash positive, I'd rather they did not let cash on hand go below $50M
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Post by prcgorman2 on Nov 12, 2024 11:30:29 GMT -5
Am I counting right? Will we hit 20 days if we remain above the $6.77 SP through the close on November 22nd? I think so, yes. |
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rebby
Researcher
Posts: 79
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Post by rebby on Nov 12, 2024 12:13:47 GMT -5
Am I counting right? Will we hit 20 days if we remain above the $6.77 SP through the close on November 22nd? Yes, Nov 22 close is the date if we sustain above 6.77 in consecutive days |
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Post by JEvans on Nov 12, 2024 15:18:53 GMT -5
Am I counting right? Will we hit 20 days if we remain above the $6.77 SP through the close on November 22nd? Yes, Nov 22 close is the date if we sustain above 6.77 in consecutive days When does the 50m bonus come into play with the company the pd 150m for the 1% Tyvaso DPI royalties ? |
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Post by prcgorman2 on Nov 12, 2024 15:42:49 GMT -5
Yes, Nov 22 close is the date if we sustain above 6.77 in consecutive days When does the 50m bonus come into play with the company the pd 150m for the 1% Tyvaso DPI royalties ? It's a good question although not directly related to the $230M in convertible bonds.
According to the law firm that represented Sagard in the royalty purchase agreement the terms for the additional $50M are as follows:
US$50 million in the event that the trailing 12-month net sales of Tyvaso DPI equals or exceeds US$1.9 billion by December 31, 2026; or if the preceding milestone is not achieved, US$45 million in the event that the trailing 12-month net sales of Tyvaso DPI equals or exceeds US$2.3 billion by September 30, 2027.
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Post by casualinvestor on Nov 13, 2024 9:18:05 GMT -5
Tyvaso DPI net sales need to double in 2 years for Mannkind to get that $50M (roughly). Given recent sales growth rates, IPF will need to be approved and be marketed to hit those #'s
Q3 2024
Net product sales for Tyvaso DPI were $274.6 million (+16.3)
Q2 2024
Net product sales for Tyvaso DPI were $258.3 million (+30.8)
Q1 2024
Net product sales for Tyvaso DPI were $227.5 million (+22.4)
Q4 2023
Net product sales for Tyvaso DPI were $205.1 million
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Post by Clement on Nov 13, 2024 9:42:42 GMT -5
If TDPI revs grow +25M per quarter from now through the end of 2025 AND there's a 10% price increase in late 2025, then the total for the 4 quarters in 2026 would exceed $1.9B.
+25M per quarter is a tough nut to crack, but not impossible.
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