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Post by Deleted on May 9, 2016 17:01:22 GMT -5
the sad thing this isn't a start up and Matt did a huge disservice by making it sound in the last call that investors would get the info needed about how they are going to finance the rest of the year. I can't say he did a good job. He still left the most important issue unanswered with the exception of the fact they will dilute more. And if the negotiations are taking longer than expected, what the hell do you expect him to say, seriously. Say you are in negotiations. Dont lead people to believe its a closed deal. |
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Post by factspls88 on May 9, 2016 17:02:04 GMT -5
Discovered I can listen to a replay so I deleted my original message here.
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Post by uvula on May 9, 2016 17:03:33 GMT -5
I wonder if the CC started late because Matt was hoping to get a last minute phone call. Kind of like the prison movies when the governor calls just as they are getting ready to flip the switch. (Hmmm. That might not be the best analogy to use.)
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Post by _neil on May 9, 2016 17:06:47 GMT -5
There should be a drinking game. Every time a MNKD officer opens his trap and says 'hopeful' you down a shot. Two for 'at this time'. I'd die by the end of it. These people are more actors than business leaders at this point.
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Post by factspls88 on May 9, 2016 17:07:15 GMT -5
I wonder if the CC started late because Matt was hoping to get a last minute phone call. Kind of like the prison movies when the governor calls just as they are getting ready to flip the switch. (Hmmm. That might not be the best analogy to use.) Did you watch the finale of "The Good Wife" last night?  |
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Post by end2war on May 9, 2016 17:09:59 GMT -5
I think MP said that there was "high interest" from potential international partners, that he wanted to raise money via international deals, but that such a deal would not be completed in the "target period for financing" (which I take to be immediately so they don't run out of money).
I then understood him to say that they probably were going to be forced to do a "small equity financing" which I am guessing is $50 M, and that is the transaction he had hoped to have completed for today so he could announce it.
It is my expectation that they will issue a PR very soon about details of their small equity financing and it will be slightly dilutive, and not in line with his earlier statements that they would avoid dilutive stock issuance at these prices. I hope I am wrong about this.
I assume that, following the announced price for the "small equity financing" the PPS will likely drop to whatever the selling price is for that financing, but may recover in the months that follow as the launch gains traction and positive developments begin to filter in, or if they finish a settlement with SNY. There also is a possible deal with an international partner at some uncertain future point. (Many may think that Pfeffer said he was close to an international license deal, but I did not think that is what he said.)
Expect an "small equity financing" shortly is what I heard.
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Post by parrerob on May 9, 2016 17:13:07 GMT -5
Cash ?
at least what We know for sure We are hiring people .....
Payroll run up....
Like in a Ferrari without fuel but accelerating !
strange... sure
But better then beeing on a Citroen without fuel too but decelerating ! lol
PS in the first scenario We still have the option that the "fuel" indicator is broken..... In the second not !
Good night all
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Post by seanismorris on May 9, 2016 17:18:30 GMT -5
My price target remains the bottom Fibonacci line between 1$ and 1.05$
Unfortunately we are still in the "kick the can down the road" with regards to financing. I expect dilution...
I did hear some good things regarding marketing Afrezza and in general, but they are outweighed by financing concerns.
Matt lost a bit of credibility on the call... Mike again gained.
I'm still wondering about the (possible) Sanofi settlement. It looks like they are capable of dragging this out quite a while. It may be tied to getting out of the insulin purchase obligation.
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Post by LosingMyBullishness on May 9, 2016 17:20:55 GMT -5
the sad thing this isn't a start up and Matt did a huge disservice by making it sound in the last call that investors would get the info needed about how they are going to finance the rest of the year. I can't say he did a good job. He still left the most important issue unanswered with the exception of the fact they will dilute more. And if the negotiations are taking longer than expected, what the hell do you expect him to say, seriously. Scott, Matt stated earlier this year that in January two companies gave him a call being interested in deals. Now it's May. Both parties had enough time to do their homework and they had now several weeks to get the deal done. Could also be that MNKD is now looking more into the small print this time while these 'partners' had anticipated the old lab rats mentality. Matt is a nice honest guy but it is not a good idea as a skipper to say 'sorry folks I thought that we would see land today. But stay tuned, could be soon now'. If he was wrong the first time, why should he be right the second time? |
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Post by LosingMyBullishness on May 9, 2016 17:27:49 GMT -5
My price target remains the bottom Fibonacci line between 1$ and 1.05$ Unfortunately we are still in the "kick the can down the road" with regards to financing. I expect dilution... I did hear some good things regarding marketing Afrezza and in general, but they are outweighed by financing concerns. Matt lost a bit of credibility on the call... Mike again gained. I'm still wondering about the (possible) Sanofi settlement. It looks like they are capable of dragging this out quite a while. It may be tied to getting out of the insulin purchase obligation. SNY has a lot of time. They certainly delay this to the degree that MNKD is happy with giving all rights away for lousy 10M. That is the job of such lawyers. |
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Post by tayl5 on May 9, 2016 17:28:17 GMT -5
I think MP said that there was "high interest" from potential international partners, that he wanted to raise money via international deals, but that such a deal would not be completed in the "target period for financing" (which I take to be immediately so they don't run out of money). I then understood him to say that they probably were going to be forced to do a "small equity financing" which I am guessing is $50 M, and that is the transaction he had hoped to have completed for today so he could announce it. It is my expectation that they will issue a PR very soon about details of their small equity financing and it will be slightly dilutive, and not in line with his earlier statements that they would avoid dilutive stock issuance at these prices. I hope I am wrong about this. I assume that, following the announced price for the "small equity financing" the PPS will likely drop to whatever the selling price is for that financing, but may recover in the months that follow as the launch gains traction and positive developments begin to filter in, or if they finish a settlement with SNY. There also is a possible deal with an international partner at some uncertain future point. (Many may think that Pfeffer said he was close to an international license deal, but I did not think that is what he said.) Expect an "small equity financing" shortly is what I heard. My impression was that Matt was trying to get an international licensing deal done before the call but it didn't work out. There's a big difference between the timing of a deal not working out and the deal falling apart and not happening. If it's the former, one benefit will be that the deal can be concluded with less time pressure and may lead to more favorable terms. I agree that if the expected deal is off the table and there are no other near-term candidates, an equity financing is likely. I don't think he was talking about a secondary offering not being ready. |
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Post by factspls88 on May 9, 2016 17:30:07 GMT -5
Stock offering just announced.
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Post by LosingMyBullishness on May 9, 2016 17:36:26 GMT -5
And if the negotiations are taking longer than expected, what the hell do you expect him to say, seriously. Scott, Matt stated earlier this year that in January two companies gave him a call being interested in deals. Now it's May. Both parties had enough time to do their homework and they had now several weeks to get the deal done. Could also be that MNKD is now looking more into the small print this time while these 'partners' had anticipated the old lab rats mentality. Matt is a nice honest guy but it is not a good idea as a skipper to say 'sorry folks I thought that we would see land today. But stay tuned, could be soon now'. If he was wrong the first time, why should he be right the second time? Matt should have rather said something like: we are still in negotiations as we want to make sure that we get the best mix of volume and margin..and then some inspirational speech about the product with some loose guidance of market share in 2020.' this shouldn't be that difficult.. |
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Post by _neil on May 9, 2016 17:39:39 GMT -5
I think it's time people dropped the 'Matt is a good guy but'. The whole tone of good things right around the corner should prove at least by now that he's neither competent nor honest. There's nothing to show behind all the words and I've run out of rope to hand him. The company's rotten to the core. I know some people here genuinely care about PWD. Bankruptcy and then handing over the patents to someone more capable (which, it looks like anyone in the world except the current team at this point) would be the best course of action. Enough well meaning people lost enough money. At least some good can come off it if they just made sure the biggest money loser (Al) can have his legacy preserved by helping the people who have a genuine medical need.
Before anyone starts whining about my whining, I'd ask you to answer why you guys trust this team when they repeatedly kick the can down the road. Bad news is OK but dangling false carrots of hope quarter after quarter is definitely not. Their negotiations take eons. They try to pass off all sorts of shelf registrations as just good housekeeping policies. I am sure they'll turn around and dilute the heck out of this company. If the strength of Afrezza got the company to a market cap in the hundreds of Millions, the weakness of the management team should drag it down to tens of millions. I can't accuse them of outright falsehood because they are skilled at using weasel words but it's clear to me they lack any
integrity.
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Post by laffs4sale on May 9, 2016 17:39:52 GMT -5
Since I expect nothing from Matt the b.s. artist, I wasn't disappointed. If I were him, I would borrow the $30 million from the Mann Group before they change their mind. I would also do a firesale on the Valencia property. How long have we been waiting for that to sell already? Use the proceeds to buy some time while the marketing efforts pay dividends and THEN do a dilution, hopefully at a much-higher share price.
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