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Post by novafett on Nov 12, 2015 15:19:17 GMT -5
So you don't have to click his link on the yahoo page and give him any more pennies than he deserves for writing this crap.
MannKind Finds Israel Isn't the Promised Land Prayed For
By
Adam Feuerstein
Follow
| 11/12/15 - 03:09 PM EST
Exclusive FREE Report: Jim Cramer's Best Stocks for 2015.
$36 million? That's all the money you could raise in Israel, MannKind (MNKD) ?
On Monday, MannKind said it hoped to sell "up to" 50 million shares of its stock directly to Israeli-managed index funds. These exchange-traded funds were required to buy MannKind shares because the stock is now dual listed on the Tel Aviv Stock Exchange. Instead of buying MannKind shares on the open market, MannKind offered to sell new, unissued stock to the Israeli funds at a discount.
MannKind managed to sell 13.8 million shares directly to the Israeli funds, nowhere close to 50 million shares. At a sale price of $2.61 per share, MannKind added $36 million in cash to its coffers.
"These transactions provide MannKind with needed near term liquidity to support Afrezza operations and Technosphere developments, while minimizing shareholder dilution," said MannKind Chief Financial Officer Matt Pfeffer, in a statement.
"Near-term" is right. MannKind just raised enough cash to keep the company operational for two or three quarters at its current burn rate.
Another MannKind plan falls short.
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Post by cathode on Nov 12, 2015 15:30:24 GMT -5
What is this terrible math? If MNKD only has $7M in "cash" and raised $36M with this offering they have $43M. Given burn rates of $8M to $10M a month from Matt in the conference call, that is 4-5 months of operation. How did he miss this chance to bring his point home? Maybe he included that untouchable $25M...
Edit: misquote
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Post by Deleted on Nov 12, 2015 15:31:05 GMT -5
I hope someday the SEC prosecutes him and his cohorts for what they're attempting to do to MNKD is all I can say, but not holding my breath.
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Post by Deleted on Nov 12, 2015 16:19:48 GMT -5
Remember Lesson Number One!
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Post by blindhog1 on Nov 12, 2015 16:28:45 GMT -5
Remember Lesson Number One! Yes Lesson #1 is important. When I read the piece an hour ago the first thing that I thought was "Of course I knew this was coming".
Earlier today I reviewed AF's Tweeter posts (since I'm not blocked) and it's been pitiful. I don't know what can be done to a blogger, editorialist and poster, but it should be substantial. He and Cramer have waged war on MNKD for years.
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Post by rvc on Nov 12, 2015 16:31:12 GMT -5
Unless I'm missing something, AF (although he obviously is a miscreant) seems to have a good point. I believe the intention of MNKD was to sell as many as 50 million shares(in fact, many secondaries are oversubscribed) and they were only able to sell roughly 13 million. My guess is they hoped to raise far more than 36 million dollars in this offering.
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Post by nylefty on Nov 12, 2015 16:31:14 GMT -5
So you don't have to click his link on the yahoo page and give him any more pennies than he deserves for writing this crap. MannKind Finds Israel Isn't the Promised Land Prayed For By Adam Feuerstein | 11/12/15 - 03:09 PM EST $36 million? That's all the money you could raise in Israel, MannKind (MNKD) ? Somehow, AF "missed" this part of the MNKD press release: Remaining demand from the TASE index funds' long-term holding requirements are expected to be satisfied through open market purchases, which must be completed before Sunday, November 15, 2015." |
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Post by jeremg on Nov 12, 2015 16:39:57 GMT -5
Unfortunately what AF has written is factually correct, of course it can be seen through different lenses but the question still stands, where will they raise the rest of the capital needed? The remaining shares the TASE Indexes will acquire will be on the open market which means no capital raised for MNKD, but BIG benefit to PPS (which I say cautiously). The last thing I want to hear is that in another 3-4 months we will be back in the same position with an offering on the NASDAQ, this would leave us open to WS shenanigans and calls of "BK" from AF between now and then.
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Post by suebeeee1 on Nov 12, 2015 16:45:58 GMT -5
Didn't take him long. So just how many people are short enough to lose millions of dollars tomorrow if the stock closes above $3...or even $2 (where they tried to shove it yesterday)? I assume he needs to do something for his buddies or they may just take it out on him. I imagine the conversation going this way: Monday after the financial came out.... AF: I have such power, I can drop this stock to under $2. Goldman Sachs: Nah... AF: Really, I can guarantee it. All I need to do is spread some FUD about this stock exchange. But I can only do it this week. GS: If you're sure you can do it, we'll make some huge short bets AF: I guarantee it (Dum, dee, dum....GS and buddies work diligently all day Monday before CC to short even more stock for Friday close) AF during the night on Tuesday begins his spread of s**t Everyone knows that MNKD mgmt does nothing to stop FUD AF on Wednesday hits hard to spread as much FUD as quickly as he can, even bringing friends into the fray. Timing is critical Stock plummets under $2.00 to $1.76.  AF and buddies laugh and laugh. Matt publishes a statement letting everyone know that despite the badly translated Globe reports, the stock listing is going as planned Thursday, MNKD stock rises by 30%. Friday: AF & GS must do ANYTHING to drop this stock again or they are all in big trouble! Clearly this article is his first attempt to spread a little more FUD. One day left....Stay tuned. |
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Post by mbseeking on Nov 12, 2015 17:49:53 GMT -5
Unfortunately what AF has written is factually correct, of course it can be seen through different lenses but the question still stands, where will they raise the rest of the capital needed? The remaining shares the TASE Indexes will acquire will be on the open market which means no capital raised for MNKD, but BIG benefit to PPS (which I say cautiously). The last thing I want to hear is that in another 3-4 months we will be back in the same position with an offering on the NASDAQ, this would leave us open to WS shenanigans and calls of "BK" from AF between now and then. Yes it is,, but he omitted to remind readers that even the open market buys take shares off the loanable-to-shorts markets which was an equally important objective. With MNKD getting some cash surviving for a while is now possible. With survival there is hope. Who knows , SNY may actually start selling Afrezza. With a hint of that good news, and the shorts crimped the share price would go up. MNKD could simply issue some more shares then when it needs some cash. Oh, but heres some even better news AF omitted. The TASE index funds buying MNKD now are the minnows. Should MNKD appreciate back to $1.5B market cap then the TA25 has to start buying in. That's the biggie. We got back to 1.1B just this yesterday. Israel may not be MNKD's promised land, but it may be the gift that keeps on giving. |
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Post by rockstarrick on Nov 12, 2015 19:54:44 GMT -5
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Post by mattinahat on Jul 6, 2016 4:05:52 GMT -5
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Post by matt on Jul 6, 2016 6:53:42 GMT -5
... and he was right again.
XBIT is a cancer drug and it played fast and loose with its data and AF called them out on it, and the market responded once it was evident that the emperor had no clothes. What they did was to take a trial drug and separate the TREATMENT group into responders and non-responders, claiming a benefit for the responders sub-group. That is the equivalent of separating MNKD users into those that used Afrezza properly and had well-regulated postprandial glucose, and those who used the product incorrectly and had poorly regulated postprandial glucose. Given those made up group definitions, crafted after the fact from all those who got Afrezza, guess which group would have better controlled Hba1C?
It is the job of a financial journalist to point out flaws in data, whether it is accounting, clinical data, or corporate ethics. If the market then punishes the stock, so be it. That is management's payback for trying to be sleazy. Mannkind has its issues and its warts, but I think it is fair to say the Matt & friends are not sleazy.
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Post by mnkdfann on Jul 6, 2016 9:26:47 GMT -5
... and he was right again. XBIT is a cancer drug and it played fast and loose with its data and AF called them out on it, and the market responded once it was evident that the emperor had no clothes. What they did was to take a trial drug and separate the TREATMENT group into responders and non-responders, claiming a benefit for the responders sub-group. That is the equivalent of separating MNKD users into those that used Afrezza properly and had well-regulated postprandial glucose, and those who used the product incorrectly and had poorly regulated postprandial glucose. Given those made up group definitions, crafted after the fact from all those who got Afrezza, guess which group would have better controlled Hba1C? It is the job of a financial journalist to point out flaws in data, whether it is accounting, clinical data, or corporate ethics. If the market then punishes the stock, so be it. That is management's payback for trying to be sleazy. Mannkind has its issues and its warts, but I think it is fair to say the Matt & friends are not sleazy. It has been a good week or two for AF, as he was also just recently vindicated on his Galena analysis. www.thestreet.com/story/13624031/1/galena-craters-on-breast-cancer-vaccine-study-failure.html |
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Post by Deleted on Jul 6, 2016 9:38:10 GMT -5
... and he was right again. XBIT is a cancer drug and it played fast and loose with its data and AF called them out on it, and the market responded once it was evident that the emperor had no clothes. What they did was to take a trial drug and separate the TREATMENT group into responders and non-responders, claiming a benefit for the responders sub-group. That is the equivalent of separating MNKD users into those that used Afrezza properly and had well-regulated postprandial glucose, and those who used the product incorrectly and had poorly regulated postprandial glucose. Given those made up group definitions, crafted after the fact from all those who got Afrezza, guess which group would have better controlled Hba1C? It is the job of a financial journalist to point out flaws in data, whether it is accounting, clinical data, or corporate ethics. If the market then punishes the stock, so be it. That is management's payback for trying to be sleazy. Mannkind has its issues and its warts, but I think it is fair to say the Matt & friends are not sleazy. A drug is not for all cos a human body is not the same. If a person doesnt respond to drug , why use it on them? Did the company hide the number of people that tried and the number of responders, non-responders? I havent looked........ Regarding afrezza.. your comparision is apples and oranges... any drug used incorrectly is of no use.. even injectables if you dont use properly, they dont control BS and may even lead to hypo. every tool needs to be used they way it is intended. |
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AF and buddies laugh and laugh. 
