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Post by longinvstr on Oct 16, 2015 13:04:13 GMT -5
Great find. Two days in the green, whats going on?  . Yes, green day #2 and on a day when IBB is down and looks like general mkt wants to finish under water too. We've been fairly well IBB coupled recently. Wonder if some retail shorts have decided that the $1.50 PPS predicted by Jefferies & Co was a little off. Two days does make a trend |
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Post by jay1ajay1a on Oct 16, 2015 17:21:14 GMT -5
Great find. Two days in the green, whats going on? . Yes, green day #2 and on a day when IBB is down and looks like general mkt wants to finish under water too. We've been fairly well IBB coupled recently. Wonder if some retail shorts have decided that the $1.50 PPS predicted by Jefferies & Co was a little off. Two days does make a trendWe can only hope it is a trend. |
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Post by slapshot on Oct 16, 2015 17:43:49 GMT -5
Those upper level managers will be balancing the rollout costs against the lost opportunity cost of not having a good prandial insulin in their portfolio. It seems they are keeping a tight reign on these rollout expenses, and I also believe considering AZN's recent setback that Afrezza just became more valuable in the T2 market. My estimation is that the scales are strongly tipped in favor of maintaining the partnership. Mine too. But I'm wondering if that's also the catalyst for the next leg up in stock price. Which should coincide with Vegas training providing additional script improvement, a deeper DTC push (perhaps), and movement on the insurance front all around the same time. At least thats what i'm piecing together. (so that could be 4 important sales/partnership trends all right around the same time). I'm not saying that Sanofi isnt in it to make money (silently doing my best Steve Martin impression from The Jerk: "Ah... It's a profit deal. Takes the pressure off") but Sanofi isnt an American company with a capitalistic mind set. Europeans, in general, and the French particularly seem to have a different perspective and in my opinion Sanofi doesnt seem to be in the business of maximizing profits at any expense like a Valeant Pharm, for example. So in my opinion a French company like Sanofi would be more likely to have a long term vision and to stick with Afrezza until it is proven one way or the other. Just my 2 cents, nothing firm to rely on, but something to consider... of course my reasoning could be wrong but conclusion still right... or vice versa |
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Post by falconquest on Oct 17, 2015 6:19:01 GMT -5
Great find. Two days in the green, whats going on? . Yes, green day #2 and on a day when IBB is down and looks like general mkt wants to finish under water too. We've been fairly well IBB coupled recently. Wonder if some retail shorts have decided that the $1.50 PPS predicted by Jefferies & Co was a little off. Two days does make a trend longinvstr, Your avatar gives a whole new meaning to "cupping" the sail! |
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Post by lakers on Oct 17, 2015 11:27:27 GMT -5
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Post by jay1ajay1a on Oct 17, 2015 13:18:44 GMT -5
Amphastar France Pharmaceuticals Investor Presentation September 2015 Recombinant Human Insulin (RHI) − Signed supply agreement with MannKind to supply RHI for Afrezza® − Agreement specifies minimum annual sales of 24 million euros annually for 5 years from 2015 - 2019 − Further amounts may be purchased − Several other customers currently purchasing R&D quantities for filings outside of the US − One customer buying production quantities outside of the US
− Signed Option Agreement to supply additional quantities in 2016-2019
− If MannKind chooses not to exercise its option, they pay a cancelation fee Lakers, the question is why would someone outside the US be buying production quantities? I think we all know the answer to that question. But do the Shorts? I think they know and the run down on the share price should end this year or the beginning of next. I hope that it is sooner then later. |
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Post by jpg on Oct 17, 2015 13:21:44 GMT -5
There are a lot of companies out there. It could be Sanofi doing the buying for Afrezza but that is simply a guess right now.
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Post by beardawg on Oct 17, 2015 14:12:47 GMT -5
Why would Sanofi buy production insulin for Mannkind? That's Mankind's responsibility. It wouldn't make sense either since Mannkind has to buy a minimum amount and they can't use enough at the moment. Sanofi buying on top of that adds unneeded insulin and its costs.
It has to be someone else. The part about buying R&D quantities could apply to Sanofi if they are trying to compare it to their own to prove both are the same.
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Post by longinvstr on Oct 17, 2015 15:34:24 GMT -5
>>longinvstr,
Your avatar gives a whole new meaning to "cupping" the sail!<<
Well done! Thanks. Until this baby get off the ground and the yacht can be ordered, it will have to suffice as my dreamboat
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Post by EveningOfTheDay on Oct 17, 2015 17:47:55 GMT -5
>>longinvstr, Your avatar gives a whole new meaning to "cupping" the sail!<< Well done! Thanks. Until this baby get off the ground and the yacht can be ordered, it will have to suffice as my dreamboat  Now I understand why was she so mad. Never come between a woman and her bikini top. Sorry, I could not help myself. |
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Post by trondisc on Oct 17, 2015 22:22:41 GMT -5
Sanofi the sandbagging snail will pay more to acquire Afrezza/MannKind in the next year or few. Meanwhile they could buy MNKD's entire IP/future prospects outright for $30-40 per share right now. I'm laughing at Sanofi so hard right as I type this knowing they will spend more money longer term to keep the partnership instead of getting a cheap deal done now.
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Post by Deleted on Oct 17, 2015 22:55:06 GMT -5
Sanofi the sandbagging snail will pay more to acquire Afrezza/MannKind in the next year or few. Meanwhile they could buy MNKD's entire IP/future prospects outright for $30-40 per share right now. I'm laughing at Sanofi so hard right as I type this knowing they will spend more money longer term to keep the partnership instead of getting a cheap deal done now. thats what corporations do..as they are answerable to share holders.. And they arent spending money out of their pocket..so they dont care whether its high or low...which means spending $30 or $40 now wouldnt be an option , but when afrezza rings $$$, they will be willing to spend to $100 per share |
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Post by rrtzmd on Oct 18, 2015 11:24:43 GMT -5
Amphastar France Pharmaceuticals Investor Presentation September 2015 Recombinant Human Insulin (RHI) − Signed supply agreement with MannKind to supply RHI for Afrezza® − Agreement specifies minimum annual sales of 24 million euros annually for 5 years from 2015 - 2019 − Further amounts may be purchased − Several other customers currently purchasing R&D quantities for filings outside of the US − One customer buying production quantities outside of the US
− Signed Option Agreement to supply additional quantities in 2016-2019
− If MannKind chooses not to exercise its option, they pay a cancelation fee Lakers, the question is why would someone outside the US be buying production quantities? I think we all know the answer to that question. But do the Shorts? I think they know and the run down on the share price should end this year or the beginning of next. I hope that it is sooner then later. Indeed, I asked some questions about the Amphastar agreement earlier: questions about Amphastar deal
No one offered any answers, however. It seems to me that 120 million euros worth of insulin could make an awful lot of afrezza. Given the current level of sales in the US, why would Sanofi want to purchase quantities outside the US for more afrezza now, especially considering they haven't yet applied anywhere outside the US for approval? And your link brought up yet another question. It says: "-- [Mannkind?] Signed Option Agreement to supply additional quantities in 2016-2019 − If MannKind chooses not to exercise its option, they pay a cancelation fee" So, does that mean that if MNKD does not exercise its option to buy more insulin beyond what's already contracted, then they'll have to pay a cancellation fee on that option? Whoever heard of paying a cancellation fee for not exercising an option? The SEC document didn't mention any cancellation fees of any sort. |
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Post by liane on Oct 18, 2015 11:59:03 GMT -5
In a word - NO I suggest you read the 11/10/14 10Q; the Amphastar agreement is at the end of the document.... investors.mannkindcorp.com/secfiling.cfm?filingID=1193125-14-406347&CIK=899460 3. SALE AND PURCHASE T ERMS 3.1 Purchase. Subject to contractual obligations of MannKind and subject to the other provisions of this Agreement, AFP shall sell to MannKind and its Affiliates, and MannKind and its Affiliates shall purchase from AFP, at least the quantities of Product described in § 6.1. 3.2 Schedule for Delivery . Each year during the term of this Agreement, no later than December 1 st , MannKind shall provide to AFP a schedule for delivery of the following calendar year’s annual Product Purchase Commitment Quantities. Annual Product quantities must be requested with multiple delivery dates, and in all cases, the deliveries requested for the quantities shall be whole batch quantities (or multiples thereof, as applicable). Such requested deliveries shall not exceed quantity of [ …***…] kg of Product per delivery. AFP shall be deemed to have satisfied its obligations with respect to quantity of Product if the actual quantity of Product supplied is within plus or minus […***…] percent (+/-[…***…]%) of the quantity set forth in the applicable Purchase Order. No later than fifteen (15) calendar days prior to the end of each Quarter during the Term, MannKind shall provide AFP with the forecasted schedule of delivery of the Product for the next successive four (4) Quarters (or until the Term ends if shorter), on a rolling basis, the first two (2) Quarters of which shall be broken down on a month-by-month basis (the “ Forecast ”). Each Forecast shall be deemed to be an update of any Forecast previously provided by MannKind to AFP during the Term. The first two (2) Quarters of each Forecast shall be binding (the “ Firm Order Period ”) and simultaneously with submission of the Forecast, MannKind shall submit any Purchase Order(s) for the quantities of the Product to be delivered during the second (2 nd ) Quarter of such Forecast (i.e., the last Quarter of the Firm Order Period). AFP will deliver the designated quantities to MannKind on the dates specified. Time is of the essence for delivery dates and quantities. If AFP cannot meet the dates specified or proposes alternate delivery dates, it must notify MannKind in writing within fifteen (15) calendar days after receipt of MannKind’s most recent Forecast. In no event shall any delivery be later than one (1) month beyond MannKind’s requested delivery date as long as the delivery per quarter of the Purchase Commitment Quantities does not exceed […***…] kilograms ([…***…] kg). Notwithstanding the foregoing, for the Purchase Commitment Quantity to be delivered in the 4 th Quarter of 2014 and the 1 st Quarter of 2015, MannKind shall issue a Purchase Order no later than thirty calendar days after execution of this Agreement (“Initial Order”). The Purchase Commitment Quantity of the Initial Order shall not be less than […***…] kg for the 4 th Quarter of 2014, except that the Purchase Commitment Quantity actually delivered under the Initial Order for the 4 th Quarter of 2014 shall be limited by the amount that AFP can deliver in the 4 th Quarter of 2014. The Purchase Commitment Quantity of the Initial Order for the 1 st Quarter of 2015 shall not be less than […***…] kg. For avoidance of doubt, the Purchase Commitment Quantity of the Initial Order shall not be less than […***…] kg in total. MannKind and AFP shall mutually agree on specific delivery dates under the Initial Order, and, in the event AFP is unable to deliver the Purchase Commitment Quantity recited in the Initial Order for the 4 th Quarter of 2014, MannKind and AFP shall mutually agree upon an altered quantity allocation of Product as between the 4 th Quarter of 2014 and the 1 st Quarter of 2015, which shall not be less than […***…] kg total in any event.. ***Confidential Treatment Requested 3.3 Purchase Orders . MannKind shall issue Purchase Orders to AFP based on the Forecast provided to AFP in accordance with the terms of § 3.2. All orders shall be evidenced by specific and separate Purchase Orders issued by MannKind to AFP pursuant to this § 3.3. Purchase Orders for Product may be submitted by MannKind to AFP in writing, or electronically pursuant to a mutually agreed upon process. All Purchase Orders shall contain: (a) the quantities ordered; (b) the purchase price for Product ordered in accordance with § 6; (c) delivery dates; and (d) delivery address as well as any other appropriate instructions. If MannKind issues any such Purchase Orders, AFP shall inform MannKind in writing of its acceptance or rejection thereof; provided that AFP may not reject any Purchase Order for quantities ordered in accordance with § 6.1 where the delivery dates are in accordance with the terms of § 3.2. Any deviation from an agreed upon scheduled delivery date for Product shall occur only upon written approval by the Parties. For the avoidance of doubt, this Agreement shall take precedence over the terms and conditions set forth in any Purchase Order; in other words, no additional, ambiguous or inconsistent terms in any Purchase Orders or Purchase Order acknowledgements shall have any legal effect. 3.4 Notice of Potential Product Delivery Delays. If AFP is unable to provide to MannKind the quantities of Product in accordance with the provisions of this Agreement, during any calendar year, then AFP shall inform MannKind in writing within ten (10) days of learning of such event. Such notice shall in no event be received by MannKind later than forty five (45) days prior to any delivery date, and AFP shall use commercially reasonable efforts to resolve the condition that caused such delay. 3.5 Additional Quantity. MannKind may submit a written request to AFP for quantities of Product in addition to the quantities set forth in § 6.1 of this Agreement. AFP will use commercially reasonable efforts to attempt to supply such additional quantities. AFP will respond in writing, within thirty (30) days, whether it can meet the additional quantities of Product. Upon agreement between AFP and MannKind of a specific quantity and delivery time, MannKind will submit a Purchase Order for such additional quantities of Product in accordance with the terms of § 3.3. The Parties shall negotiate in good faith the pricing for such additional quantities in no event shall the pricing be more than the amount as set forth in § 6.1. |
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Post by rrtzmd on Oct 18, 2015 20:42:44 GMT -5
Thanks for link -- it's more detailed than the one I was using. The "cancellation fee" didn't make any sense but the way that Amphastar shareholder presentation was worded wasn't clear. I also noticed this in that presentation:
"Signed supply agreement with MannKind to supply RHI for Afrezza® − Agreement specifies minimum annual sales of 24 million euros annually for 5 years from 2015 - 2019"
I don't see anything corresponding to that in the link you provided. It just says:
"Each year during the term of this Agreement, no later than December 1st, MannKind shall provide to AFP a schedule for delivery of the following calendar year’s annual Product Purchase Commitment Quantities."
So is the Amphastar presentation correct in that MNKD must order 24 million euros worth of insulin next year whether they need it or not? They don't specify how much insulin that actually buys. Any idea how much afrezza that could make?
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