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Post by otherottawaguy on Oct 26, 2015 8:10:02 GMT -5
MannKind Announces Termination of Stock Lending Agreement VALENCIA, Calif., Oct. 26, 2015 (GLOBE NEWSWIRE) -- MannKind Corporation (NASDAQ:MNKD) today announced the return of 9,000,000 shares of its common stock that were loaned to Bank of America, N.A. pursuant to a stock lending agreement dated August 18, 2010. The stock lending agreement was entered into to facilitate the establishment of hedge positions by investors in MannKind's offering Senior Convertible Notes due 2015, which closed on August 24, 2010. The stock lending agreement terminated a specified number of days following the date as of which the entire principal amount of Senior Convertible Notes due 2015 ceased to be outstanding and MannKind had settled all payments and deliveries in respect of such convertible notes, which occurred on August 17, 2015. About MannKind Corporation MannKind Corporation (Nasdaq:MNKD) focuses on the discovery and development of therapeutic products for patients with diseases such as diabetes. MannKind maintains a website at www.mannkindcorp.com to which MannKind regularly posts copies of its press releases as well as additional information about MannKind. Interested persons can subscribe on the MannKind website to e-mail alerts that are sent automatically when MannKind issues press releases, files its reports with the Securities and Exchange Commission or posts certain other information to the website. |
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Post by blindhog1 on Oct 26, 2015 8:24:06 GMT -5
It's all happening now. Almost like it was planned. If I close my eyes what will happen next?  |
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Post by caveintemptor on Oct 26, 2015 8:51:31 GMT -5
It's all happening now. Almost like it was planned. If I close my eyes what will happen next? A perfect storm for shorts is in the air. Not surprising, this is late October. Reminds me of a movie... Its ending looks appropriate here... ;-) |
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Post by rrtzmd on Oct 26, 2015 8:54:38 GMT -5
MannKind Announces Termination of Stock Lending Agreement VALENCIA, Calif., Oct. 26, 2015 (GLOBE NEWSWIRE) -- MannKind Corporation (NASDAQ:MNKD) today announced the return of 9,000,000 shares of its common stock that were loaned to Bank of America, N.A. pursuant to a stock lending agreement dated August 18, 2010. The stock lending agreement was entered into to facilitate the establishment of hedge positions by investors in MannKind's offering Senior Convertible Notes due 2015, which closed on August 24, 2010. The stock lending agreement terminated a specified number of days following the date as of which the entire principal amount of Senior Convertible Notes due 2015 ceased to be outstanding and MannKind had settled all payments and deliveries in respect of such convertible notes, which occurred on August 17, 2015. About MannKind Corporation MannKind Corporation (Nasdaq:MNKD) focuses on the discovery and development of therapeutic products for patients with diseases such as diabetes. MannKind maintains a website at www.mannkindcorp.com to which MannKind regularly posts copies of its press releases as well as additional information about MannKind. Interested persons can subscribe on the MannKind website to e-mail alerts that are sent automatically when MannKind issues press releases, files its reports with the Securities and Exchange Commission or posts certain other information to the website. I'm disappointed that they didn't provide more details as to how the debt itself was finally resolved. Investors are still left hanging a few more days until the 10-Q comes out. |
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Post by jay1ajay1a on Oct 26, 2015 11:23:41 GMT -5
MannKind Announces Termination of Stock Lending Agreement VALENCIA, Calif., Oct. 26, 2015 (GLOBE NEWSWIRE) -- MannKind Corporation (NASDAQ:MNKD) today announced the return of 9,000,000 shares of its common stock that were loaned to Bank of America, N.A. pursuant to a stock lending agreement dated August 18, 2010. The stock lending agreement was entered into to facilitate the establishment of hedge positions by investors in MannKind's offering Senior Convertible Notes due 2015, which closed on August 24, 2010. The stock lending agreement terminated a specified number of days following the date as of which the entire principal amount of Senior Convertible Notes due 2015 ceased to be outstanding and MannKind had settled all payments and deliveries in respect of such convertible notes, which occurred on August 17, 2015. About MannKind Corporation MannKind Corporation (Nasdaq:MNKD) focuses on the discovery and development of therapeutic products for patients with diseases such as diabetes. MannKind maintains a website at www.mannkindcorp.com to which MannKind regularly posts copies of its press releases as well as additional information about MannKind. Interested persons can subscribe on the MannKind website to e-mail alerts that are sent automatically when MannKind issues press releases, files its reports with the Securities and Exchange Commission or posts certain other information to the website. as to how the debt itself was finally resolved. Investors are still left hanging a few more days until the 10-Q comes out. Sorry you are disappointed, we know a fair bit about how it was resolved. I personal think it was a prefect announcement, just my humble opinion. |
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Post by mike0475 on Oct 26, 2015 11:28:58 GMT -5
I don't was to deflate your humble opinion but could you elaborate jay1a? Are you assuming 9M are on new foreign market?
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Post by dreamboatcruise on Oct 26, 2015 11:48:32 GMT -5
It's all happening now. Almost like it was planned. If I close my eyes what will happen next? A perfect storm for shorts is in the air. Not surprising, this is late October. Reminds me of a movie... Its ending looks appropriate here... ;-) Seems like this announcement regarding the 9m loaned shares would be good for shorts. They no longer need worry about potential buying pressure from the need to return those shares. Any pending perfect storm at this point seems only in the equivalent of computer climate models... the predictions of which are highly dependent on the assumptions used. |
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Post by thekindaguyiyam on Oct 26, 2015 12:21:07 GMT -5
It's all happening now. Almost like it was planned. If I close my eyes what will happen next? close your eyes; click your heels 3 times and you return to Kansas. You can still keep up the good work from there. |
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Post by EveningOfTheDay on Oct 26, 2015 12:38:28 GMT -5
Sorry you are disappointed, we know a fair bit about how it was resolved. I personal think it was a prefect announcement, just my humble opinion. I very much agree. We do know quite a bit of how it was resolved and I was happy to see they actually announced previous to the earnings call. I also agree with DBC that, barred of other announcements, this should take some buying pressure away and shorts might get a respite, at least for as long as RX reports on Fridays continue to show little improvement. At the same time we will have to see it the dual listing has any positive effect on share price. Mike0475, as assumptions go, mine is that those 9 million shares are not being sold in any capacity that will allow shorts to get a hold on them. They might be placed privately conditional to not being lent out, or MNKD might decide to keep control of them for the time being. Will see. |
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Post by caveintemptor on Oct 26, 2015 12:40:19 GMT -5
A perfect storm for shorts is in the air. Not surprising, this is late October. Reminds me of a movie... Its ending looks appropriate here... ;-) Seems like this announcement regarding the 9m loaned shares would be good for shorts. They no longer need worry about potential buying pressure from the need to return those shares. Any pending perfect storm at this point seems only in the equivalent of computer climate models... the predictions of which are highly dependent on the assumptions used. 9 M less shares available for borrowing is reason enough to worry when short interest is 51% of free float (126.8 M at Sep 30 out of 250.5 M, excluding Al's 154.5 M and BoA's 9 M) |
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Post by BlueCat on Oct 26, 2015 15:14:10 GMT -5
Wouldn't this possibly (indirectly) impact the days-to-cover calculation? If there are 9m fewer shares in circulation by the lenders, might that possibly impact volume?
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Post by jay1ajay1a on Oct 26, 2015 16:11:21 GMT -5
I don't was to deflate your humble opinion but could you elaborate jay1a? Are you assuming 9M are on new foreign market?No I am not thinking that, my understanding is that it is handled like any other foreign exchange/market MNKD is trading in. My opinion is that we know how the shares were handled by MNKD, that has been covered already. |
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Post by jay1ajay1a on Oct 26, 2015 16:20:50 GMT -5
Sorry you are disappointed, we know a fair bit about how it was resolved. I personal think it was a prefect announcement, just my humble opinion. I very much agree. We do know quite a bit of how it was resolved and I was happy to see they actually announced previous to the earnings call. I also agree with DBC that, barred of other announcements, this should take some buying pressure away and shorts might get a respite, at least for as long as RX reports on Fridays continue to show little improvement. At the same time we will have to see it the dual listing has any positive effect on share price. Mike0475, as assumptions go, mine is that those 9 million shares are not being sold in any capacity that will allow shorts to get a hold on them. They might be placed privately conditional to not being lent out, or MNKD might decide to keep control of them for the time being. Will see. I think the same thing, and I am expecting more go news coming with the CC. I keep thinking back to the "EXCLUSIVE: An interview with Sanofi's president of North American pharma" June 24, 2015 and it makes me think that road for the Shorts is closing. A little bit at a time. www.biopharmadive.com/news/exclusive-an-interview-with-sanofis-president-of-north-american-pharma/401231/ Afrezza, which we launched in February—the strategy here is targeted and focused, and that's important because we need to educate the specialists and high-prescribing physicians for appropriate usage of their medicine. We believe that this inhaled insulin in this specially-designed inhaler offers an important new option. In terms of access, we've secured third-tier benefit in a number of plans. We'll be launching print and direct-to-consumer promotion in the next few weeks, and we'll be launching a 12-unit cartridge later in Q3. It's been, again, with Afrezza, a solid start. BD: I also wanted to touch a little bit more on Afrezza. Because there was some recent news where the CFO over at MannKind (Sanofi's partner on Afrezza), he was speaking over a Goldman Sachs conference, and he essentially said that, they haven't really reached the break-even point for that product. And that it's been difficult because the margin on that medicine is not extremely large, and so the low volumes are really hurting there. So what are the challeneges of getting Afrezza out into the market, and what do you think are the reasons the volume might be held back right now? MOULDING: I think clearly with this inhaled insulin, we've had to take the time to really educate the specialists on the patient groups—that are new to insulin, naive to insulin, require insulin intensification—we've had to put the appropriate education, continuing medical education, and peer-to-peer meetings in place. And we've been doing that in order to ensure we educate our customers in the appropriate way. We've gone through that phase. We're now seeing that customers are getting some excellent patient testimonials with Afrezza. Patients who were not in control, and are now in control—and again, this is an enlightening point that we see with Afrezza—which is that as our target audience begins to use the product, we are really seeing some excellent results in the patient testimonials. BD: So you're saying Sanofi has some pretty strong faith that the volume is going to grow for this product? MOULDING: Yes. We've had a solid start on Afrezza. We'll be putting investment into DTC and print media in the next couple of weeks. And we're seeing more patients get under control with some excellent patient testimonials. It's a solid start with some more to come. |
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Post by EveningOfTheDay on Oct 26, 2015 17:38:01 GMT -5
MOULDING: Yes. We've had a solid start on Afrezza. We'll be putting investment into DTC and print media in the next couple of weeks. And we're seeing more patients get under control with some excellent patient testimonials. It's a solid start with some more to come. As I have said all along, I think the idea that Sanofi wants out is, in my mind, utterly ridiculous. This only can make sense to those that believe there is a big conspiracy to pump Afrezza by means of fictional testimonials by supposed patients. It just makes no sense. I bet Sanofi has a pretty good idea of how long it will take for insurance companies, doctors and patients to shed their concerns and apprehension, and start accepting Afrezza as an alternative. I bet Mannkind has also a pretty good idea and that is why they do not look or act worried. The only ones that do not really know is us, investors, and here we are week in week out with our panties in a twist, constantly bashing management and thinking we know better. I just don't think so... but, of course, I've been known to be wrong before once or twice ;-) |
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Post by dreamboatcruise on Oct 26, 2015 18:16:00 GMT -5
MOULDING: Yes. We've had a solid start on Afrezza. We'll be putting investment into DTC and print media in the next couple of weeks. And we're seeing more patients get under control with some excellent patient testimonials. It's a solid start with some more to come. As I have said all along, I think the idea that Sanofi wants out is, in my mind, utterly ridiculous. This only can make sense to those that believe there is a big conspiracy to pump Afrezza by means of fictional testimonials by supposed patients. It just makes no sense. I bet Sanofi has a pretty good idea of how long it will take for insurance companies, doctors and patients to shed their concerns and apprehension, and start accepting Afrezza as an alternative. I bet Mannkind has also a pretty good idea and that is why they do not look or act worried. The only ones that do not really know is us, investors, and here we are week in week out with our panties in a twist, constantly bashing management and thinking we know better. I just don't think so... but, of course, I've been known to be wrong before once or twice ;-) I bet much of the short interest has a pretty good idea too. I bet I don't have a clue. |
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