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Post by petech on Aug 8, 2016 15:15:07 GMT -5
"cash and cash equivalents at June 30, 2016 were $63.7 million, compared to $27.7 million at March 31, 2016. In May 2016, the Company received net proceeds of $47.4 million upon completion of a registered direct public offering, $9.2 million from Sanofi for the sale of insulin inventory in connection with a contractual obligation upon termination of the Sanofi License Agreement, and $0.7 million from Connecticut as a Research & Development tax credit. Currently, $30.1 million remains available for borrowing under the amended loan arrangement with The Mann Group along with $50.0 million available under the ATM facility. "
Odd. I remember Nate talking about the insulin put resulting in more cash and then some people thinking he was off his rocker.
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Post by agedhippie on Aug 8, 2016 15:53:35 GMT -5
"cash and cash equivalents at June 30, 2016 were $63.7 million, compared to $27.7 million at March 31, 2016. In May 2016, the Company received net proceeds of $47.4 million upon completion of a registered direct public offering, $9.2 million from Sanofi for the sale of insulin inventory in connection with a contractual obligation upon termination of the Sanofi License Agreement, and $0.7 million from Connecticut as a Research & Development tax credit. Currently, $30.1 million remains available for borrowing under the amended loan arrangement with The Mann Group along with $50.0 million available under the ATM facility. "Odd. I remember Nate talking about the insulin put resulting in more cash and then some people thinking he was off his rocker. Mannkind doesn't get to keep the money - Mannkind get delivery from Amphistar and immediately turn around and pass Sanofi up to 65% of the insulin for which Sanofi must pay. Sanofi has a lifetime cap of $50M.
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Post by Deleted on Aug 8, 2016 15:56:56 GMT -5
"cash and cash equivalents at June 30, 2016 were $63.7 million, compared to $27.7 million at March 31, 2016. In May 2016, the Company received net proceeds of $47.4 million upon completion of a registered direct public offering, $9.2 million from Sanofi for the sale of insulin inventory in connection with a contractual obligation upon termination of the Sanofi License Agreement, and $0.7 million from Connecticut as a Research & Development tax credit. Currently, $30.1 million remains available for borrowing under the amended loan arrangement with The Mann Group along with $50.0 million available under the ATM facility. "Odd. I remember Nate talking about the insulin put resulting in more cash and then some people thinking he was off his rocker. My off the rocker comment was his current valuation. It had nothing to do with the sale of inslulin which I would assume goes towards the money MNKD owes SNY anyways.
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Post by mnholdem on Aug 8, 2016 16:02:06 GMT -5
"cash and cash equivalents at June 30, 2016 were $63.7 million, compared to $27.7 million at March 31, 2016. In May 2016, the Company received net proceeds of $47.4 million upon completion of a registered direct public offering, $9.2 million from Sanofi for the sale of insulin inventory in connection with a contractual obligation upon termination of the Sanofi License Agreement, and $0.7 million from Connecticut as a Research & Development tax credit. Currently, $30.1 million remains available for borrowing under the amended loan arrangement with The Mann Group along with $50.0 million available under the ATM facility. "Odd. I remember Nate talking about the insulin put resulting in more cash and then some people thinking he was off his rocker. Mannkind doesn't get to keep the money - Mannkind get delivery from Amphistar and immediately turn around and pass Sanofi up to 65% of the insulin for which Sanofi must pay. Sanofi has a lifetime cap of $50M. Perhaps Matt will clarify this. My understanding is that we're talking about insulin inventory that MannKind has already paid for, not new another insulin delivery.
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Post by Deleted on Aug 8, 2016 16:08:34 GMT -5
wow he sounds nervous is something coming?
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Post by tayl5 on Aug 8, 2016 16:45:02 GMT -5
Sounds like Matt. You sound nervous.
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Post by factspls88 on Aug 8, 2016 16:45:40 GMT -5
Nice overview by Castagna. Surprised there was only one question. And so it goes for Mannkind. They still have a monumental challenge but I am pleased to hear an unapologetic and fact-based, upbeat presentation.
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Post by esstan2001 on Aug 8, 2016 16:46:03 GMT -5
just 1 question on the call-
this is off of Wall St's radar.
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Post by brentie on Aug 8, 2016 16:47:57 GMT -5
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Post by agedhippie on Aug 8, 2016 16:48:29 GMT -5
Mannkind doesn't get to keep the money - Mannkind get delivery from Amphistar and immediately turn around and pass Sanofi up to 65% of the insulin for which Sanofi must pay. Sanofi has a lifetime cap of $50M. Perhaps Matt will clarify this. My understanding is that we're talking about insulin inventory that MannKind has already paid for, not new another insulin delivery. It could be that it was for insulin delivered post exit but prior to the call where Mannkind had paid Ampistar but had not yet invoiced Sanofi.
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Post by bioexec25 on Aug 8, 2016 16:53:17 GMT -5
And they posted positive slides for their 29,000 followers.
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Post by Deleted on Aug 8, 2016 16:57:24 GMT -5
Sounds like Matt. You sound nervous. I own no shares. In all seriousness I thought he was delivering something big. Then I realized he was trying to get share holders excited that they are steering the ship now.
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Post by peppy on Aug 8, 2016 16:57:43 GMT -5
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Post by nuklerfizzacist on Aug 8, 2016 16:58:46 GMT -5
wow he sounds nervous is something coming? I'd really love for you to explain this comment. I see your comment above...you own no shares?!? this is your hobby then?
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Post by onemann on Aug 8, 2016 17:05:24 GMT -5
The DiabetesMine person appears to be Afrezza user Mike Hoskins. Glad to see Afrezza users that aren't investors are also listening.
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