Post by morfu on May 9, 2016 21:44:35 GMT -5
The 150 million (or is it 200 million) that Sanofi "invested" in Mannkind has never been spent as it was never earned.
To earn it Mannkind would have had to turn a profit (nice going Sanofi).
So... it appears that with the termination by Sanofi, Matt has a possible wedge to get some $ (maybe not all, but possibly most of that 150 million).
Go Matt.
I do recall some statements (press release or SEC filings!?) last year, that Mannking did qualify for milestone payments from Sanofi.. I dont recall the amount, but excess of 100mil sounds about right..
It sounded pretty much like a legally binding contract to me!? (Even Sanofi wont throw 100mil+ away because some CEO said so..)
However the secrecy about what milestone was reached and the non- or delayed booking is mysterious..
Anyone has some more insights about this!?
Also the other two numbers.. 13 and 17mil.. together with what revenue we might see this year and the 30mil possible loan from the Mann foundation seems to indicate that we will survive this year!?