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Post by uvula on May 9, 2016 22:59:40 GMT -5
It seems like plan A wasn't done in time for the CC so they went with plan B which they tried to get done before the CC but couldn't get everything signed in time.
If plan A is still in the works we might be pleasantly surprised on a few days.
I wouldn't bet on it but you never know.
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Post by uvula on May 10, 2016 10:20:13 GMT -5
The market thinks plan A is either dead or never existed.
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Post by lakers on May 10, 2016 16:19:37 GMT -5
MatthewPfeffer Okay, so let me try to answer the first part of that query real quickly. It's going to be a little bit difficult, I mean we've been pretty open that a large portion of our strategy is revolved around opening some international markets and doing deals as our first preference for raising money. That said we can't wait forever and if we need to do a small equity financing there device full time we will do that. I hope will be in a position to answer that question with more details and specifics very. Frankly I have to go to do it by now, that didn't work out quite the way I thought it would but it should be imminent I believe and all I can do is ask for your patience and hope you'll stay tuned.
We continue to have a high interest from a number of potential international partners interested in adding Afrezza to their portfolios. These partnerships are strategically attractive and will continue to progress in tandem with our marketing plans in the U.S. but these deals will not be completed in our target timeframe for financing. Therefore, we still have yet to address that but we expect to very shortly. So I will appreciate your patience as we're quite close.
IMHO, I expect near-term international partners: Canada, Israell, Australia.
Our commercial organization will cost in the range of 20 million to 22 million through the remainder of the year. As you'll hear in Rose's presentation of our first quarter financials in just a moment, we've continued to realize cost savings in other areas and anticipate offsetting some of these increased expenses with the reductions in these areas. In addition, with the full value of product sales of our own branded product coming to mankind during the fourth quarter we're in a better position to benefit from a ramp up of sales. As a result of all of the above we expect our cash burn rate to remain approximately 10 million to 12 million per month for the remainder of the year more or less the same ratio of burn as we've been reporting for about as long as I can remember.
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Post by cretin11 on May 10, 2016 16:23:40 GMT -5
I guess by "target timeframe" he meant "in the next 45 minutes" At least it was technically an honest statement, as I read that. He was in a tough spot on that call.
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Post by anderson on May 10, 2016 17:50:31 GMT -5
I read this as potential international partners were trying to squeeze MNKD and get a one sided deal since MNKD needs money. More runway should help MNKD negotiate a better deal.
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Post by Deleted on May 10, 2016 17:59:06 GMT -5
I read this as potential international partners were trying to squeeze MNKD and get a one sided deal since MNKD needs money. More runway should help MNKD negotiate a better deal. At the expense of 25% dilution... Unless he is bargaining for $100 mil more than what he was being offered and he gets that $100 mil now that there is no squeeze
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Post by LosingMyBullishness on May 10, 2016 18:03:41 GMT -5
I guess by "target timeframe" he meant "in the next 45 minutes" At least it was technically an honest statement, as I read that. He was in a tough spot on that call. I assume that the target time frame was before this cc. That's just it. No need to be sarcastic if that was intended.
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Post by mnkdfann on May 10, 2016 18:04:35 GMT -5
Let no one tell you that there is no international interest ... even now negotiations are ongoing:
Dear Matt Pfeffer
This is Sam Nunyuie from teh Ghana Medical Authority. We will very much want to import your Afrezza for use in our country. With God's grace, it will be a great benefit for my peoples users of diabetes.
Please, the only roadblock are the international import fees we must pay at our end. To that end, please you will forward an amount of 2 million Euros to my agency. That will allow us to prepay the fees after which we will sign a contract to import 50,000 Afrezza blowers each month.
Thanks and hope to hear from you soon.
Dr. Sam Nuynuie
notascam@gmail.com
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Post by LosingMyBullishness on May 10, 2016 18:09:23 GMT -5
I read this as potential international partners were trying to squeeze MNKD and get a one sided deal since MNKD needs money. More runway should help MNKD negotiate a better deal. At the expense of 25% dilution... Unless he is bargaining for $100 mil more than what he was being offered and he gets that $100 mil now that there is no squeeze Thanks iam2. This is also what worried me. They gave away quite a lot. Were these potential deals so terrible? Do they hope that the results presented at ADA give them a much better position in the negotiations?
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Post by sportsrancho on May 10, 2016 18:24:50 GMT -5
The market thinks plan A is either dead or never existed. You are right! There-in lies the opportunity. Tom, the dad of the kids on Afrezza, bought 35,000 more MNKD shares this morning.
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Post by anderson on May 10, 2016 18:55:24 GMT -5
At the expense of 25% dilution... Unless he is bargaining for $100 mil more than what he was being offered and he gets that $100 mil now that there is no squeeze Thanks iam2. This is also what worried me. They gave away quite a lot. Were these potential deals so terrible? Do they hope that the results presented at ADA give them a much better position in the negotiations? It isnt all about the up front cash on these deals. How long is the term of the contract, how often can price be negotiated, minimum quantities, etc. I would rather be able to at a slightly higher price than sell at cost for the next 5 years, that would make more than the $100 mil from the offering. EG, lets say you can negotiate for $5 more per month over 5 years you would need 333334 diabetics on insulin to make $100mil. Lets look at Saudi Arabia(http://www.idf.org/membership/mena/saudi-arabia) it has 3.4 million diabetics so if more that 9% are on insulin then long term that higher price is worth more than the dilution that just occurred. Note from the cdc website www.cdc.gov/diabetes/statistics/meduse/fig2.htm in 2011 about 13% of diabetics are on Insulin and Pills, 17.8% are on Insulin Only. And the sad truth is the numbers of diabetics is increasing rapidly.
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Post by gamblerjag on May 10, 2016 22:18:25 GMT -5
The market might think Plan A is dead.. but to me Matt made it sound like.. just not completed yet.. but will be..
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Post by Deleted on May 11, 2016 7:09:00 GMT -5
Let no one tell you that there is no international interest ... even now negotiations are ongoing: Dear Matt Pfeffer This is Sam Nunyuie from teh Ghana Medical Authority. We will very much want to import your Afrezza for use in our country. With God's grace, it will be a great benefit for my peoples users of diabetes. Please, the only roadblock are the international import fees we must pay at our end. To that end, please you will forward an amount of 2 million Euros to my agency. That will allow us to prepay the fees after which we will sign a contract to import 50,000 Afrezza blowers each month. Thanks and hope to hear from you soon. Dr. Sam Nuynuie notascam@gmail.com lol for a second I thought you were serious. You could get this to fly on stock twits!
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Post by peppy on May 11, 2016 7:16:58 GMT -5
Let no one tell you that there is no international interest ... even now negotiations are ongoing: Dear Matt Pfeffer This is Sam Nunyuie from teh Ghana Medical Authority. We will very much want to import your Afrezza for use in our country. With God's grace, it will be a great benefit for my peoples users of diabetes. Please, the only roadblock are the international import fees we must pay at our end. To that end, please you will forward an amount of 2 million Euros to my agency. That will allow us to prepay the fees after which we will sign a contract to import 50,000 Afrezza blowers each month. Thanks and hope to hear from you soon. Dr. Sam Nuynuie notascam@gmail.com Mnkdfan; this was confusing. Did you make this email up?
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Post by cretin11 on May 11, 2016 9:54:04 GMT -5
Should've included a few more grammar/spelling mistakes to give it that authentic feel.
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