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Post by Deleted on Feb 11, 2016 22:56:11 GMT -5
I' had traded Mnkd a couple times this week. Decided on Selling my Ira shares and just holding my cash account shares. I'm more then 30 years away from retiring. I'd rather try and make something out of the 10k then ride this to zero. This is a previous job 401k rolled over after getting new job. Things get better I'll jump right back in. What would constitute "better"? Im not sure but I need clarity. Who is RLS and a through look at there books or where the capital is coming from. A shift in in scripts or maybe I gamble a week before the switch from SNY to MNKD. Rumblings of partners but will most likely what til one is signed if no other info. I need color though |
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Post by oldfishtowner on Feb 12, 2016 7:30:13 GMT -5
There's already quite a bit of language in November's 10-Q warning about going concern "should" the partnership with Sanofi end. Also mannkinds ability or lack of ability to find or raise adequate sources of cash. Its available at mannkinds website. I would think the report due out end of this month would have similar wording, if not more dire. I think you are referring to MNKD's discussion of risks. That is not an auditor's statement that there is doubt as to whether MNKD ability continue as a going concern, which would carry much more weight than the company's discussion of risks as a disclaimer. An auditor's statement would raise the issue to another level. The quarterly report is unaudited so there is no statement from the auditor. However, I did go back to the last annual report and, indeed, there is a statement of substantial doubt about MNDK continuing as a going concern by Deloitte & Touche in the 2014 annual report. I didn't pay much attention to this at the time because of the SNY partnership. So your thought that a going concern statement by the auditor this year might not have such a dramatic effect has merit. |
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Post by matt on Feb 12, 2016 8:37:41 GMT -5
Going concern statements are required at the date of the annual audit opinion if the company does not have adequate cash to continue for another operating cycle (that is auditor talk for one year) unless additional sources of financial are reasonably assured. To reach the "reasonably assured" threshold, the amount and source of the funds need to be virtually guaranteed so that is not MNKD's situation. Going concern opinions have gotten fairly common, especially in biotech, so they don't sting quite as badly as before but they still sting a bit and MNKD is guaranteed to get one unless something dramatic happens in the next few weeks.
Maybe the poll doesn't ask the right question. If the question is how long can MNKD "survive" with no qualifications, the answer is several years. If the question is how long can MNKD survive while remaining a public company listed on NASDAQ, taking over the marketing of Afrezza, seeking out TS development deals, and doing all the other things it wants to do, the answer is more like 6-9 months. The survival time line is very much a factor of what you expect MNKD to look like a year from now.
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Post by dreamboatcruise on Feb 12, 2016 13:40:38 GMT -5
Going concern statements are required at the date of the annual audit opinion if the company does not have adequate cash to continue for another operating cycle (that is auditor talk for one year) unless additional sources of financial are reasonably assured. To reach the "reasonably assured" threshold, the amount and source of the funds need to be virtually guaranteed so that is not MNKD's situation. Going concern opinions have gotten fairly common, especially in biotech, so they don't sting quite as badly as before but they still sting a bit and MNKD is guaranteed to get one unless something dramatic happens in the next few weeks. Maybe the poll doesn't ask the right question. If the question is how long can MNKD "survive" with no qualifications, the answer is several years. If the question is how long can MNKD survive while remaining a public company listed on NASDAQ, taking over the marketing of Afrezza, seeking out TS development deals, and doing all the other things it wants to do, the answer is more like 6-9 months. The survival time line is very much a factor of what you expect MNKD to look like a year from now. There is insulin purchase obligation and debt. Are you taking those into account in thinking they could cut costs enough to survive several years? |
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