Is MannKind going Bust?

[Deleted]

Something is odd with MannKind's share price, it is acting as if it is going bankrupt. My question is: would this require a filing with the SEC if that was the case?

[mssciguy]

Dec 14, 2015 16:46:34 GMT -5 @kastanes said:

Something is odd with MannKind's share price, it is acting as if it is going bankrupt. My question is: would this require a filing with the SEC if that was the case?

If Al is going bankrupt, he will take a lot of people along for the ride.  I doubt it.

But look at this, www.google.com/trends/explore#q=%2Fm%2F02v_g4j&date=now%207-d&cmpt=q&tz=Etc%2FGMT%2B5

Why exactly are the Swiss so interested here?  Is there some money laundering in progress, or legitimate banking of some kind?

Pardon my cynicism but there is something very dark going on here.

[saxcmann]

Almost like WS is forcing mnkd to talk?

[Deleted]

I don't believe Alfred will allow MannKind to go into bankruptcy, but it is disturbing that MannKind has not put out a statement regarding their cash position since their Tel Aviv stock sale.

[mssciguy]

Dec 14, 2015 16:50:34 GMT -5 saxcmann said:

Almost like WS is forcing mnkd to talk?

with who?

Not shareholders, that's for sure.  It's been nothing but contempt for us as far as my eyes can see.  Sheer contempt.  Unrequited love, just thanks for the money and you are...

[Deleted]

I havent logged into my Fidelity account for a few days. I know the share price but no point in looking at the balance.

[bioexec25]

Dec 14, 2015 16:50:31 GMT -5 mssciguy said:

Dec 14, 2015 16:46:34 GMT -5 @kastanes said:

Something is odd with MannKind's share price, it is acting as if it is going bankrupt. My question is: would this require a filing with the SEC if that was the case?

If Al is going bankrupt, he will take a lot of people along for the ride.  I doubt it.

But look at this, www.google.com/trends/explore#q=%2Fm%2F02v_g4j&date=now%207-d&cmpt=q&tz=Etc%2FGMT%2B5

Why exactly are the Swiss so interested here?  Is there some money laundering in progress, or legitimate banking of some kind?

Pardon my cynicism but there is something very dark going on here.

Interesting search analytic and focused on Mnkd stock price not the product.  Swiss banking not exactly transparent, but they do broker bids not just subvert funds for dubious sources.  We don't know the individual sources so hard to say.  Novartis and Roche also in Switzerland. Entertaining at best, insufficient data to draw any conclusions (again .. sigh).

[bill]

Dec 14, 2015 16:50:31 GMT -5 mssciguy said:

Dec 14, 2015 16:46:34 GMT -5 @kastanes said:

Something is odd with MannKind's share price, it is acting as if it is going bankrupt. My question is: would this require a filing with the SEC if that was the case?

If Al is going bankrupt, he will take a lot of people along for the ride.  I doubt it.

But look at this, www.google.com/trends/explore#q=%2Fm%2F02v_g4j&date=now%207-d&cmpt=q&tz=Etc%2FGMT%2B5

Why exactly are the Swiss so interested here?  Is there some money laundering in progress, or legitimate banking of some kind?

Pardon my cynicism but there is something very dark going on here.

That link is very interesting. Below indicates either of two possible MNKD Switzerland connections; James Shannon's friends from his Switzerland posting are checking up on MNKD or the folks at Novartis in Basel are suddenly interested in MNKD. Either would be neutral to good. Just idle speculation on my part.

Dr. James S. Shannon, M.D., MRCP (UK), is a Director of the Company. He resigned as an Independent Director of MannKind Corporation effective May 1, 2012. He has more than 20 years experience at senior levels of the pharmaceutical industry and until his retirement in 2008 was Global Head of Drug Development for Novartis Pharma AG based in Basel, Switzerland.

[mssciguy]

Dec 14, 2015 17:05:56 GMT -5 bioexec25 said:

Dec 14, 2015 16:50:31 GMT -5 mssciguy said:

If Al is going bankrupt, he will take a lot of people along for the ride.  I doubt it.

But look at this, www.google.com/trends/explore#q=%2Fm%2F02v_g4j&date=now%207-d&cmpt=q&tz=Etc%2FGMT%2B5

Why exactly are the Swiss so interested here?  Is there some money laundering in progress, or legitimate banking of some kind?

Pardon my cynicism but there is something very dark going on here.

Interesting search analytic and focused on Mnkd stock price not the product.  Swiss banking not exactly transparent, but they do broker bids not just subvert funds for dubious sources.  We don't know the individual sources so hard to say.  Novartis and Roche also in Switzerland. Entertaining at best, insufficient data to draw any conclusions (again .. sigh).

yep were are mushrooms, kept in the dark all day and then they give us ____ to eat.

Really, the internet has enabled fraud on a whole new bigger scale and if you don't believe me just look at all those new million dollar shoeboxes in the Manhattan skyline.  That is not legitimate money for the most part, how could it be?  

I give up, they win for now but I won't sell (not that it matters when HFs can sell single shares back and forth and the price is therefore meaningless).

The Swiss...  hmm!  I ran into one in New Zealand while vacationing once..  he said, 'we have the banking industry' I never really thought of it as an industry but they do make money don't they.

[kball]

They might not be...but i am

[bill]

Dec 14, 2015 17:13:17 GMT -5 kball said:

They might not be...but i am

Think of it this way; bad news can't lower the share price that much more dollar and cents-wise, and good news can go a long ways. All we need is something other than "no news."

[mindovermatter]

Dec 14, 2015 16:50:31 GMT -5 mssciguy said:

Dec 14, 2015 16:46:34 GMT -5 @kastanes said:

Something is odd with MannKind's share price, it is acting as if it is going bankrupt. My question is: would this require a filing with the SEC if that was the case?

If Al is going bankrupt, he will take a lot of people along for the ride.  I doubt it.

But look at this, www.google.com/trends/explore#q=%2Fm%2F02v_g4j&date=now%207-d&cmpt=q&tz=Etc%2FGMT%2B5

Why exactly are the Swiss so interested here?  Is there some money laundering in progress, or legitimate banking of some kind?

Pardon my cynicism but there is something very dark going on here.

Many of the hedge funds have their proxy servers in Switzerland and that is where all the FUDSTERS traffic comes from.  

[mssciguy]

Dec 14, 2015 17:15:35 GMT -5 bill said:

Dec 14, 2015 17:13:17 GMT -5 kball said:

They might not be...but i am

Think of it this way; bad news can't lower the share price that much more dollar and cents-wise, and good news can go a long ways. All we need is something other than "no news."

Is it possible that whomever is lending out the shares to call them back?

Anyone?  Why would anyone be lending out shares to allow them to plummet like this?

Or was the mgmt call to not lend out shares just another red herring in a long string of red herrings?

Please please educate me...

[dreamboatcruise]

Dec 14, 2015 16:46:34 GMT -5 @kastanes said:

Something is odd with MannKind's share price, it is acting as if it is going bankrupt. My question is: would this require a filing with the SEC if that was the case?

If they file for bankruptcy or forced into it, they would need to file with SEC.  The share price can certainly be anticipating bankruptcy ahead of when it happens... and shorts are certainly trying to sell the idea that it will.  Fortunately, MNKD still has a good 6 months or more of operating room based on cash.  Unfortunately, even if one assumes they will find some financing, being able to predict at what valuation it will occur is something I certainly wouldn't be able to do... and hence impossible for me to guess where the bottom is on this 

Here is what they have already filed with SEC... a very typical "going concern" warning... i.e. shareholders have already been warned of the possibility of bankruptcy. That really is all the warning you get.  Once the company is certain they have no options to avoid bankruptcy, they file for it... they don't keep updating everyone on getting closer and closer... that would be counter productive as vendors would stop dealing with you, employees jump ship, etc. 

We will be required to raise additional capital to fund our operations, and our inability to do so could raise substantial doubt about our ability to continue as a going concern.*

We will need to raise additional capital, whether through the sale of equity or debt securities, additional strategic business collaborations, the establishment of other funding facilities, licensing arrangements, asset sales or other means, in order to support our ongoing activities including the commercialization of AFREZZA and the development of other product candidates and to avoid defaulting under the Facility Agreement covenant that requires us to maintain at least $25.0 million in cash and cash equivalents or available borrowings under the Loan Arrangement as of the last day of each fiscal quarter. It may be difficult for us to raise additional funds on favorable terms, or at all. As of September 30, 2015, we had stockholders’ deficit of $124.6 million, which may raise concerns about our solvency and affect our ability to raise additional capital. The extent of our additional funding requirements will depend on a number of factors, including:



• the degree to which AFREZZA is commercially successful;



• whether and for how long our collaboration with Sanofi continues;



• the demand by any or all of the holders of the 2018 notes, 2019 notes, and Tranche B notes to require us to repay or repurchase such debt securities if and when required;



• our ability to repay or refinance existing indebtedness, and the extent to which the 2018 notes or any other convertible debt securities we may issue are converted into or exchanged for shares of our common stock;



• the rate of progress and costs of our clinical studies and research and development activities;



• the costs of procuring raw materials and operating our manufacturing facilities;



• our obligation to make milestone payments pursuant to the Milestone Agreement;



• our obligation to bear our share of net losses under the Sanofi License Agreement;



• our success in establishing strategic business collaborations or other sales or licensing of assets, and the timing and amount of any payments we might receive from any such transactions;



• actions taken by the FDA and other regulatory authorities affecting AFREZZA and our product candidates and competitive products;



• the emergence of competing technologies and products and other market developments;



• the costs of preparing, filing, prosecuting, maintaining and enforcing patent claims and other intellectual property rights or defending against claims of infringement by others;



• the level of our legal and litigation expenses; and



• the costs of discontinuing projects and technologies, and/or decommissioning existing facilities, if we undertake any such activities.

[smwill77]

Dec 14, 2015 16:46:34 GMT -5 @kastanes said:

Something is odd with MannKind's share price, it is acting as if it is going bankrupt. My question is: would this require a filing with the SEC if that was the case?

Are things really that bleak where the biggest and loudest pumper of them all starts to question this investment?