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Post by Deleted on May 29, 2016 13:12:28 GMT -5
MNKD expenses are running 10 to 12 mil for a month and I remember Matt saying the new commercial org is gonna cost 20 to 22 mil for the rest of the year. So am i correct in assuming this 20 to 22 mil is not included in the 10 to 12 mil per month? It's all inclusive. Matt P said cash will get them through Dec and possibly into next year Thank you. Current $$ raised 47.5 mil ( if warrants exercised - 50 mil x 1.5 for 75 mil ) I heard from the ASM where MikeC mentioned Afrezza should have been a 30 to 40 mil launch annual sale drug. will he able to able to make a $100 mil launch 2.0 drug ? from july 2016 to july 2017?
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Post by morfu on May 29, 2016 21:32:45 GMT -5
MNKD 2.0: Financial Keys to Success • Aggressive financial control, with vigorous attention to costs and efficiency throughout organization • Successfully negotiate favorable termination terms with SNY Pg 14 $68M of $150M LOC used so far. The remain will be avail till Q3. IMHO, a successful settlement entails $180 - $200M cash, plus used $80M 8.5% interest LOC forgiven so that Mnkd can get the proceed from selling the Valencia building ~ $30 M as SoCal real estate mkt is red hot. To increase leverage Mnkd had to obtain bridge finance and ramps up Afrezza sale in 4Q16. Signing up regional partners is given, TBA this May hopefully. It'd be nice if announced at ASH. Some of this, like maintaining strong controls, I would hope they are doing anyway. The LOC covers Mannkind's share of Sanofi's costs and is not otherwise available to Mannkind. You are looking for a $290M to $310M settlement from Sanofi all told? I can save you the trouble, it's not going to happen. On a good day I think we get $10M and they suspend the interest on the loan. I think 'had to' was meant to be 'have to' obtain bridge finance. I would agree with that although I think it is more likely they will use dilution again. Stepping back for a moment - what is a regional partner going to do for us? At this point I think we are on our own (and I am reasonably ok with that). It's hard to see why anyone would invest at this point given the state of the cash reserves, the level of debt, and the amount of issued stock. It would be a better strategy to wait and see if Mannkind goes bankrupt and then just buy the assets. I expect Deerfield know exactly which rocks to look under in that event. Does your 10mil include the milstone payments from Sanofi to Mannkind in 2015? (They were made .. I believe 150mil.. even so for some strange reason they dont show in the books)
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Post by agedhippie on May 30, 2016 8:53:07 GMT -5
Some of this, like maintaining strong controls, I would hope they are doing anyway. The LOC covers Mannkind's share of Sanofi's costs and is not otherwise available to Mannkind. You are looking for a $290M to $310M settlement from Sanofi all told? I can save you the trouble, it's not going to happen. On a good day I think we get $10M and they suspend the interest on the loan. I think 'had to' was meant to be 'have to' obtain bridge finance. I would agree with that although I think it is more likely they will use dilution again. Stepping back for a moment - what is a regional partner going to do for us? At this point I think we are on our own (and I am reasonably ok with that). It's hard to see why anyone would invest at this point given the state of the cash reserves, the level of debt, and the amount of issued stock. It would be a better strategy to wait and see if Mannkind goes bankrupt and then just buy the assets. I expect Deerfield know exactly which rocks to look under in that event. Does your 10mil include the milestone payments from Sanofi to Mannkind in 2015? (They were made .. I believe 150mil.. even so for some strange reason they dont show in the books) The $10M is a guess based on Exubera's first year sales. In arbitration there has to be a benchmark and I think Sanofi will say that it should be the last attempt to sell inhaled insulin since it was never argued that it was inadequately marketed. The damage would be the difference between Afrezza sales and Exubera sales.
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