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Post by Clement on Aug 7, 2024 7:16:39 GMT -5
There's a huge difference between GAPP earnings and non-GAAP. I would like to understand this better.
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Post by prcgorman2 on Aug 7, 2024 7:58:03 GMT -5
They expect 0.01.... how is that possible???  Easy, expenses. It's also in line with the guidance Steve Binder provided before retiring although he suggested there might be a few quarters where there was a small loss per share. So far, since showing the most modest of profits, they've not slipped back to a loss. I assume it is an important financial goal to keep a tight rein on expenses so that there is at least a small profit.
The clinical update regarding a read-out on nintedanib DPI in 4Q is new. The last earnings call it was "maybe" in 1Q2025. Things are cooking right along. My thanks to the small but mighty team at MannKind.
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Post by prcgorman2 on Aug 7, 2024 7:59:23 GMT -5
There's a huge difference between GAPP earnings and non-GAAP. I would like to understand this better. You missed the opportunity to say, "There's a huge GAP between GAPP [sic] earnings and non-GAAP. I would like to understand this better.". No worries, I said it for you.  Team work makes the dream work.  |
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Post by veritasfiliatemporis on Aug 7, 2024 8:32:31 GMT -5
They expect 0.01.... how is that possible??? Easy, expenses. It's also in line with the guidance Steve Binder provided before retiring although he suggested there might be a few quarters where there was a small loss per share. So far, since showing the most modest of profits, they've not slipped back to a loss. I assume it is an important financial goal to keep a tight rein on expenses so that there is at least a small profit.
The clinical update regarding a read-out on nintedanib DPI in 4Q is new. The last earnings call it was "maybe" in 1Q2025. Things are cooking right along. My thanks to the small but mighty team at MannKind.
Thanks, I see, so estimate is weighted on GAAP ... maybe the difference is way to much.. |
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Post by celo on Aug 7, 2024 8:45:54 GMT -5
Earnings was a miss. If they paid debt with shares I don’t think they miss. Market hates misses right now
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Post by MnkdWASmyRtrmntPlan on Aug 7, 2024 9:20:59 GMT -5
Numbers are all good. Everything is increasing at a decent pace. Afrezza Revenue growth continues. Chris Prentice is a decent speaker.
Tyvaso royalties increased 34% YoY from 19M to 26M. That was good, and Collaboration & Services is a spectacular 132% increase from 11M in 2Q23 to 26M in 2Q24 (thank you again, Martine).
Afrezza grew 20% from 14 to 16M.
V-go shrank from 5 to 4M (down 7%). Sayhey will be happy to hear that MNKD is moving their focus from V-go to Afrezza.
So, net revenue of Endocrine Business Unit increased 13% from 18 to 21M.
Total Revenues increased 49% from 2Q23 to 2Q24, and 55% for YTD 23 to 24 (89M to 139M).
2Q24 net loss of $2M ($.01) - 1 cent loss per share in 2Q24 was due to early repayment of Mann Group Convertible note and Midcap senior secured note, which they completed in April and recorded as an accounting charge of $7M recorded as a loss on establishment of debt. $37M debt was repaid.
$72M (+49%) 2Q Total Net Rev vs. 2Q23. YTD revenue is $139M (+55%) YTD vs. 2023 YTD.
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Post by celo on Aug 7, 2024 9:49:39 GMT -5
The report was excellent. Just the headline sucked. With all those conferences we will get there eventually. Results from studies seem to affect stock price more that qtr reports
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Post by celo on Aug 7, 2024 11:48:15 GMT -5
5 conferences in a month's time! wow that's busy. I know these conferences don't amount to a hill of beans, but that is getting the word out.
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Post by radgray68 on Aug 7, 2024 11:53:48 GMT -5
Great numbers over all. Not the kind of blowout, bottom line profits I was hoping for but I forgot about the debt repayment being in this quarter. Guess there was a “GAAP” in my calculations.
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Post by biffn on Aug 7, 2024 11:54:16 GMT -5
i’d rather hear last quarter to this quarter than year-to-year. There’s not a lot of seasonality here and it’s more indicative to just look at the most recent quarter. Comparing to a year ago doesn’t tell me a lot.
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Post by agedhippie on Aug 7, 2024 12:10:45 GMT -5
There's a huge difference between GAPP earnings and non-GAAP. I would like to understand this better. GAAP is the gold standard, non-GAAP leaves out some expenses. The problem with non-GAAP is that the omissions can vary from report to report. Commonly they will leave out one off expenses, I suspect it this case it's related to settling those debts but I couldn't tell without reading the report. Lots of companies use non-GAAP metrics and the market usually treats those numbers as marketing. |
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Post by casualinvestor on Aug 7, 2024 14:05:09 GMT -5
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Post by Clement on Aug 7, 2024 14:19:11 GMT -5
^ "OFEV is under patent until June 2029. Is there any chance 201 can be sold ahead of this?"
OFEV is oral. Nintedanib Technoshere is for inhalation. I think that avoids infringing on OFEV. Please tell me if I am wrong here.
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Post by casualinvestor on Aug 7, 2024 14:35:34 GMT -5
From Mike on the call:
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Post by prcgorman2 on Aug 7, 2024 14:54:52 GMT -5
This could also explain why the market value estimates focus on 2030. A successful Phase 1 trial of Nintedanib DPI would certainly imply the possibility of partnership if there were a desire to get revenue prior to 2030. Because I went to the trouble of browsing the NIH document on drug patent exclusivity, I'm going to post the link here. It's meaty and good for patent attorneys to read, but I struggled to understand how it would apply to nintedanib other than I suspect the DPI version would not be permitted to be sold prior to the Ofev patent(s?) expiration. www.ncbi.nlm.nih.gov/pmc/articles/PMC10242760/ |
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Team work makes the dream work. 
