Post by harshal1981 on Mar 19, 2014 21:21:36 GMT -5
19 Mil shares traded. With 58 cents differential between day's high and low. On top of it, it gained 58 cents and lost 54 cents in the same day. Any comments?
I do not believe it was MLV pushing ATM sales. MNKD is doesn't need cash right now as they have enough to fund operations until at least PDUFA. And they are not foolish to exercise ATM right now when they know the price can appreciate much more after AdCom or PDUFA (hopefully).
I do believe the stock being pegged to 5.6 range was possibly due to DF converting 60 million worth of their debt to shares that was allowed under new amendment. As per the new terms it was not 20 day average for conversion. It was just 3 days average price for new conversion. So likely they are done converting. Not sure if DF was offloading shares in the market as they can (which was also clear from 10-K and POSCAR). I don't think though. If DF believes in the success of MNKD, they have no reason to sell right now which doesn't even cover for their 9% annual interest until 2019. May be couple of million sold to take hedge position.
I do not believe it was MLV pushing ATM sales. MNKD is doesn't need cash right now as they have enough to fund operations until at least PDUFA. And they are not foolish to exercise ATM right now when they know the price can appreciate much more after AdCom or PDUFA (hopefully).
I do believe the stock being pegged to 5.6 range was possibly due to DF converting 60 million worth of their debt to shares that was allowed under new amendment. As per the new terms it was not 20 day average for conversion. It was just 3 days average price for new conversion. So likely they are done converting. Not sure if DF was offloading shares in the market as they can (which was also clear from 10-K and POSCAR). I don't think though. If DF believes in the success of MNKD, they have no reason to sell right now which doesn't even cover for their 9% annual interest until 2019. May be couple of million sold to take hedge position.
