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Post by ezrasfund on Nov 9, 2015 11:23:29 GMT -5
"For the three and nine months ended September 30, 2015, product shipments of Afrezza, our novel rapid-acting inhaled insulin therapy, were $4.1 million and $17.1 million, respectively, which we recorded as deferred product sales from our collaboration with Sanofi."
At least we can say we out-sold Exubera!?
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Post by miracle331 on Nov 9, 2015 11:30:26 GMT -5
so no cash = we are f'ed raise cash via ATM = we are f'ed
conclusion = we are really f'ed?
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Post by saxcmann on Nov 9, 2015 11:52:41 GMT -5
Honestly, you would think AL would have enough foresight to know cash could be a problem,so hopefully mannkind has an answer for this? I'm losing hope if no news by nov 15 tho. Dilution could be avoided mostly. January options are huge because either mnkd runs out of cash (or close) or we get help from sny (buy-in) or TS partnership comes soon. I still believe in AL Mann but going down with his ship.
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Post by mnholdem on Nov 9, 2015 11:58:06 GMT -5
How much do we owe Deerfield? From the SEC filing: As of September 30, 2015, we had $185.4 million principal amount of outstanding debt, consisting of: • $27.7 million principal amount of 2018 notes bearing interest at 5.75% per annum and maturing on August 15, 2018; • $60.0 million principal amount of 2019 notes bearing interest at 9.75% per annum, $5.0 million of which is due and payable in July 2016, $15.0 million of which is due and payable in July 2017, $15.0 million of which is due and payable in July 2018 and $25.0 million of which is due and payable in July and December 2019; • $20.0 million principal amount of Tranche B notes bearing interest at 8.75% per annum, $5.0 million of which is due and payable in each of May 2017, 2018 and 2019, and $5 million of which is due and payable in December 2019; • $49.5 million principal amount of indebtedness under the Loan Arrangement bearing interest at 5.84% and maturing and due on January 5, 2020; and • $28.2 million principal amount borrowed under the Sanofi Loan Facility to fund our share of net losses under the Sanofi License Agreement." I believe -- not at all sure -- the first three belong belong to Deerfield. I suspect that first one on the list ($27.7M) was the initial Stock-for-Stock Swap of Aug-2015 Notes for the 2018 Notes under the same terms, as announced previously.
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Post by kball on Nov 9, 2015 12:00:43 GMT -5
Honestly, you would think AL would have enough foresight to know cash could be a problem,so hopefully mannkind has an answer for this? I'm losing hope if no news by nov 15 tho. Dilution could be avoided mostly. January options are huge because either mnkd runs out of cash (or close) or we get help from sny (buy-in) or TS partnership comes soon. I still believe in AL Mann but going down with his ship. Titanic the sequel. Hope Tom Cruise signs on to play me. Johnny Depp would be ok too
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Post by mrv on Nov 9, 2015 12:20:01 GMT -5
Back in August, I had posted that MNKD should pay off the loan and be done with this issue. It seems they read my post Anyway, although I have some reservations about the presentations made by management for many years now, one thing is obvious that MNKD is still moving forward. They got the FDA approval, even when AF "predicted" they they will not. They got a great partner who knows diabetes. And let's be honest here, didn't SNY know the obstacles facing the marketing of Afrezza? Of course they did. They are the experts in this field. Let's give them time to sort things out. Regarding MNKD management, shouldn't we give them the benefit of the doubt regarding the handling of this loan? They may not be good in making presentations, however, I think that they are pretty good with running the business and making good business decisions. I may sound optimistic, but I believe in MNKD and SNY, and that is why I am still long MNKD.
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Post by BlueCat on Nov 9, 2015 12:35:12 GMT -5
Any brave souls buying today? I haven't bought any in over 6 weeks Kball - nerves took it below pattern balding on that avatar? You might want to lose the shirt, too ; )
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Post by liane on Nov 9, 2015 14:15:58 GMT -5
If I remember MNKD was used to have conference call before WS opening and not after the closure .... Am I wrong in this remembering ?
Thanks R.
Traditionally, MNKD has held their cc after market close. The exception has been the last few - I suspect it has to do with the SNY partnership - holding at a time during which they at least listen in live.
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Post by jpg on Nov 9, 2015 14:20:19 GMT -5
I don't get why they have to leave this crazy gap in between the relaese and CC? Seems like an invitation to make the worst possible conclusions like the usual pundits are doing. Why enable this?
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Post by parrerob on Nov 9, 2015 14:38:20 GMT -5
"For the three and nine months ended September 30, 2015, product shipments of Afrezza, our novel rapid-acting inhaled insulin therapy, were $4.1 million and $17.1 million, respectively, which we recorded as deferred product sales from our collaboration with Sanofi." At least we can say we out-sold Exubera!? Sorry Ezrasfund, but from that 17.1 million how much can be taken as income ? I know that this amount has to be in some way, recalculated ..... but do You have an idea how much can be considered for us to be used to cover part of our expenses ? I am quite confused Even 17 million are not peanuts, specially if increasing
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Post by tonyz on Nov 9, 2015 15:09:47 GMT -5
Any brave souls buying today? I haven't bought any in over 6 weeks I bought more today. I've been buying lately by selling puts. Not sure why, but I couldn't get as high an offer for the Jan 2018 $3 puts as I did when the stock was $1 higher, so I sold 10 contracts of the 3.50 puts for $2.08 or a $2000+ credit brings my cost down to less than $1.50 a share if they are put to me. Put in some orders for some bull spreads, but the stock had bounced off it's lows by the time I got them in so I probably won't get my price. I'm heavily overweight in MNKD anyway so no great loss.
I still see MNKD as binary if it can manage to stay solvent we'll be fine, if not we're in trouble. I'm in the camp that Al Mann won't allow creditors to come in and grab all the goodies after he dedicated such a big part of his life and fortune to this company. It would be a tragedy if Afrezza was taken away as an option from the diabetes community. The risk to our investment is real, but isn't that a given with a low priced stock? I made my decision to stay with MNKD when the chart broke down so it would be foolish for me to bail now. I'm aware of the risk, but the risk hasn't changed, only the price of the stock.
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Post by BlueCat on Nov 9, 2015 15:16:28 GMT -5
I may not be able to listen to the call live this afternoon, and may need to watch for the commentary crumbs online.
But OK - That said, without having read the 10Q - I read the PR on the results.
IMHO, its actually not as dire as it could seem. They've really reigned in the costs, while revenue is nudging up. They still have that SNY loan facility and plenty of it until the JV shows profit.
And the Mann group facility, which could be bumped up - or ugh, through the dilution - will keeps things moving for a bit, at least.
Yes, cash is needed. But we are not going BK next week. And I'm sure they knew this when they paid off in cash - which frankly, if they pull this off **without** having to do dilution, I'll still think was the right choice ….
Q<- A little more relaxed now. Still not selling even it it is $1 tomorrow.
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Post by BlueCat on Nov 9, 2015 15:21:12 GMT -5
Thanks for posting this - I for some reason didn't see the dial in number, so perhaps will be able to listen to some of call on road …. er …. while focused on driving, of course :0
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Post by mnholdem on Nov 9, 2015 15:24:05 GMT -5
I'm very interested in what Matt says MannKind is going to do with the BofA shares that were returned. As I understand it, these shares could be sold without any further dilution, since they are already considered outstanding...
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Post by bradleysbest on Nov 9, 2015 15:33:28 GMT -5
Hopefully they take calls & the tough questions are asked & answered!
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