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Post by doctorgreenback on Oct 10, 2015 10:41:04 GMT -5
If you google 'health partners formulary search' you will get to their website that has 4 medicaid, 1 minnesota, and 1 medicare formulary search.
Shows that Afrezza was accepted by the formulary committee on 8/25/15 and went into effect on 9/1/2015.
The website was last updated in Oct 2015.
This is big big news folks.
While HP MCare is a less stringent MCare formulary by history, it is a gateway to other MCare insurers.
SNY is clearly doing some work behind the scenes to clear formulary hurdles.
Refill rate for Afrezza continues to impress, as does the social media response which has been overwhelmingly positive.
12U is now available.
Debt has been resolved at nearly 50% cash (as per aegis conference call) and the last cash position in q2 was $107m so we can safely assume that we are in the $60-70m range and have reduced quarterly burn to $12m not including the recent downsizing which should put our burn rate even lower.
With the SNY Line of Credit the company can continue to operate without dilution for at least 12 months and the upcoming milestone achievement that Matt said we have yet to fulfill will eventually add $25m to the coffers and extend us out to 18 months.
Between the other available lines of credit facilities, MNKD can operate without additional financing for the next 3-4 years.
The balance sheet continues to improve remarkably with each quarter.
BOA has presumably returned 9m shares to the company.
The inflection point in the stock should have come in August with the resolution of the debt, but delays have hurt the stock.
Everything is now falling into place. Hopefully by the end of the year we can really see widespread coverage in time for the Superbowl Ad(LOL)
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Post by rrtzmd on Oct 10, 2015 11:22:41 GMT -5
I did as you said and didn't see what you referred to, but I did use their search function and got this:
NF = non-formulary
I'm pretty sure "NF" means "non-formulary." Perhaps they haven't updated the website yet. Does your source reveal its "tier"? |
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Post by doctorgreenback on Oct 10, 2015 11:25:56 GMT -5
Yes that is true for 5 of 6 of the plans. Those are the 4 medicaid plans and the 1 minnesota plan.
I'm referring to the only medicare formulary.
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Post by doctorgreenback on Oct 10, 2015 11:27:37 GMT -5
just checked again. i think you are right.
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Post by doctorgreenback on Oct 10, 2015 11:28:40 GMT -5
I'm really bummed about it.
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Post by chuck on Oct 10, 2015 11:33:22 GMT -5
I'm confused. How can the balance sheet improve each month if they are losing money each quarter and aren't raising equity? Isn't this mathematically impossible?
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Post by doctorgreenback on Oct 10, 2015 11:34:11 GMT -5
just checked out the formulary search on 'justdbreath'....
Commercial 37% covered
Medicare 11%
State Medicaid 8%
Health Exchange 17%
Managed Medicaid 1%
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Post by doctorgreenback on Oct 10, 2015 11:38:20 GMT -5
Improved because of the cash to burn improvements.
Improved because of the resolution of the debt.
Improved because SNY makes them whole on Afrezza production costs and the development/marketing loss is on the Line of Credit.
This is what a biotech balance sheet is supposed to look like before a sale so that the acquiring company can legitimize the SUBSTANTIAL acquisition cost.
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Post by jbe on Oct 10, 2015 11:42:12 GMT -5
I am waiting for the already earned milestones to be booked...I recall Matt mumbling something about the first milestones not being booked for some accounting reasons...so, are milestones in an escrow account earning interest? Are they not booked until sales produce significant sales? When booked, the milestones will provide a significant improvement to mnkd financials...
Have I got this wrong? Did the milestones get booked and I missed it?
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Post by jonnykrush on Oct 10, 2015 11:54:19 GMT -5
I am waiting for the already earned milestones to be booked...I recall Matt mumbling something about the first milestones not being booked for some accounting reasons...so, are milestones in an escrow account earning interest? Are they not booked until sales produce significant sales? When booked, the milestones will provide a significant improvement to mnkd financials... Have I got this wrong? Did the milestones get booked and I missed it? I believe the milestones cannot be booked until the JV starts earning a profit. Also, Matt stated at the Aegis presentation that the next $25mil milestone has not been earned yet. |
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Post by chuck on Oct 10, 2015 13:23:22 GMT -5
I am waiting for the already earned milestones to be booked...I recall Matt mumbling something about the first milestones not being booked for some accounting reasons...so, are milestones in an escrow account earning interest? Are they not booked until sales produce significant sales? When booked, the milestones will provide a significant improvement to mnkd financials... Have I got this wrong? Did the milestones get booked and I missed it? The 200 million in milestones was received by mnkd in q3 last year ($150m) and q1 of this year ($50m). All of these funds have been spent already. |
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Post by jbe on Oct 10, 2015 14:32:05 GMT -5
Looks like you are correct, I reviewed quarters you mentioned, and the milestones are there.
Thanks, my mistake.
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Deleted
Deleted Member
Posts: 0
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Post by Deleted on Oct 10, 2015 15:16:30 GMT -5
If you google 'health partners formulary search' you will get to their website that has 4 medicaid, 1 minnesota, and 1 medicare formulary search. Shows that Afrezza was accepted by the formulary committee on 8/25/15 and went into effect on 9/1/2015. The website was last updated in Oct 2015. This is big big news folks. While HP MCare is a less stringent MCare formulary by history, it is a gateway to other MCare insurers. SNY is clearly doing some work behind the scenes to clear formulary hurdles. Refill rate for Afrezza continues to impress, as does the social media response which has been overwhelmingly positive. 12U is now available. Debt has been resolved at nearly 50% cash (as per aegis conference call) and the last cash position in q2 was $107m so we can safely assume that we are in the $60-70m range and have reduced quarterly burn to $12m not including the recent downsizing which should put our burn rate even lower. With the SNY Line of Credit the company can continue to operate without dilution for at least 12 months and the upcoming milestone achievement that Matt said we have yet to fulfill will eventually add $25m to the coffers and extend us out to 18 months. Between the other available lines of credit facilities, MNKD can operate without additional financing for the next 3-4 years. The balance sheet continues to improve remarkably with each quarter. BOA has presumably returned 9m shares to the company. The inflection point in the stock should have come in August with the resolution of the debt, but delays have hurt the stock. Everything is now falling into place. Hopefully by the end of the year we can really see widespread coverage in time for the Superbowl Ad(LOL) still says NF and formulary updates on the below link - cant find afrezza.. cant figure out where/what i am doing wrong www.healthpartners.com/public/pharmacy/formularies/formulary-updates/ |
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Post by jpg on Oct 10, 2015 15:18:48 GMT -5
This whole tread seems to be one big 'about nothing factual' tread!
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Post by gamblerjag on Oct 10, 2015 15:57:06 GMT -5
doc... now don't be talking b/o / sale. we don't want that yet.. lol
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