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Post by afrezzamiracle on Nov 9, 2016 18:13:51 GMT -5
Financial position improved by around a whopping $130 Million WITHOUT dilution! Breakdown: $71.6M SNY debt forgiveness, December payment of $10.2M from SNY to MNKD, also $30.6M payment from SNY for insulin put cancellation. Valencia corporate headquarters freed of encumbrances from SNY opens up sale where we keep 100% of proceeds--currently on the market for $25M.
Other highlights (there are so many I couldn't keep up with them all so please add to the list!):
Amphastar mutually agreed with MNKD to reduce insulin purchase committments by $65M in the 2016-2018 period, and our next payment to them isn't due until Q4 next year.
Corporate staffing head count was reduced by around 20%.
Cash run extended for operations thru Q3 2017 with no dilution!
AFREZZA commercials begin 1st half 2017.
Medicaid is now covering AFREZZA for 100% of states in the US.
AFREZZA added to Express Scripts beginning Oct 01, 2016.
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Deleted
Deleted Member
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Post by Deleted on Nov 9, 2016 18:17:41 GMT -5
Please add some more for me lol
All the shit I have talked my karma was not being able to listen to the call
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Post by longinvstr on Nov 9, 2016 18:18:56 GMT -5
You are aptly named for that summation - thank you
We have an explanation for the mgt. confidence we've heard and the seeming lack of concern for the financial runway
What a day!
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Post by sophie on Nov 9, 2016 18:20:00 GMT -5
I don't consider what you were saying to be shit talking. While I'm sure there are many here who will beat their chest and pretend they weren't worried, the truth is this was a hail mary that got caught. This kind of stuff doesn't just happen and I'm still shocked that it did. Everything fell into place perfectly as far as I'm concerned. But as they always say, "it's better to be lucky than good!".
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Post by cgiscgis on Nov 9, 2016 18:27:15 GMT -5
Full transcript?
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Post by dreamboatcruise on Nov 9, 2016 19:27:59 GMT -5
Just got time to listen.
Way beyond my expectations.
MNKD team is firing on all cylinders.
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Post by lakers on Nov 9, 2016 19:44:36 GMT -5
With respect to our insulin API business, we continue to have discussions with MannKind regarding delaying their minimum commitments under the supply agreement due to their cash flow issues. We believe that we're close to an agreement on this issue. Additionally, we have previously disclosed a commitment to invest an additional $12 million in our business in Nanjing, China. We plan to complete this estimate by the end of the year. Amphastar Pharmaceuticals' (AMPH) on Q3 2016 Results - Earnings Call Transcript $AMPH www.seekingalpha.com/article/4021356 |
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Post by letitride on Nov 9, 2016 19:48:59 GMT -5
This is the kind of stuff I have been waiting to hear. Lets Go Mannkind!
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Post by buyitonsale on Nov 9, 2016 22:27:18 GMT -5
I think the long winded posts about BK court proceedings may become somewhat of a rare find here for a while... don't shoot the messenger  |
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Post by lakers on Nov 9, 2016 22:58:34 GMT -5
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Post by Cowgirl on Nov 9, 2016 23:02:49 GMT -5
It's all good that there was a $130 Mil swing that comes Mankind's way but, do know, it's 40 million in cash, a potential sale of Valencia which may net MNKD $15 mil. The 70+ million loan to Sanofi wasn't due for may years - think 2023....so, $55 Million ...divided by 10Mil per mo. -that ONLY buys 5+ months. I'm not saying it's not good but let's not get to carried away with it. Towards the end of the Conf Call Matt P. seemed to imply that delisting will not be an issue and that today's actions should go along way towards that. I can't be so sure. 5+ more months - great - but the problem here is Afrezza sales. They have not taken off. That's why we continue to decline. There's no current evidence that show a hockey stick type turn in scripts. Until then the market cap will most likely remain in the $200 million or so range. One can argue lower cost to Amp for Insulin but one could also note we appear to be picking up expense for long term study as well. And maybe cost for pediatric study too. So, fingers still crossed for some EPI partner or RLS milestone but we're not out of the woods yet.
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Post by tayl5 on Nov 10, 2016 1:16:11 GMT -5
It's all good that there was a $130 Mil swing that comes Mankind's way but, do know, it's 40 million in cash, a potential sale of Valencia which may net MNKD $15 mil. The 70+ million loan to Sanofi wasn't due for may years - think 2023....so, $55 Million ...divided by 10Mil per mo. -that ONLY buys 5+ months. I'm not saying it's not good but let's not get to carried away with it. Towards the end of the Conf Call Matt P. seemed to imply that delisting will not be an issue and that today's actions should go along way towards that. I can't be so sure. 5+ more months - great - but the problem here is Afrezza sales. They have not taken off. That's why we continue to decline. There's no current evidence that show a hockey stick type turn in scripts. Until then the market cap will most likely remain in the $200 million or so range. One can argue lower cost to Amp for Insulin but one could also note we appear to be picking up expense for long term study as well. And maybe cost for pediatric study too. So, fingers still crossed for some EPI partner or RLS milestone but we're not out of the woods yet. I agree it was a great call. I haven't seen the slides but I recall Mike C noted that part of the explanation for the poor sales growth was that declining sales in the areas not covered by MannKind reps (the "white space") was offsetting growth in the covered areas. If that's true, the effect will diminish over time and the better growth in the covered areas will be more visible. That said, it's all still wrong order of magnitude. Mike sounded chipper about the progress the sales team was making, it just needs to start showing up in the numbers. |
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Post by tchalaa on Nov 10, 2016 4:11:32 GMT -5
On November 9, 2016, the Company entered into an amendment (the “Amendment”) to the Supply Agreement (the “Amphastar Agreement”), dated July 31, 2014, by and between the Company and Amphastar Pharmaceuticals, Inc. (“Amphastar”). Pursuant to the Amendment, the term of the Amphastar Agreement was extended from December 1, 2019 to December 31, 2023. In addition, the delivery schedule was modified to provide that Amphastar will ship €2.7 million of insulin to the Company in the fourth quarter of 2017, €8.9 million in 2018, €11.6 million in 2019, €15.5 million in 2020 and in 2021, and €19.4 million in 2022 and in 2023. The Company also granted Amphastar a right of first refusal to participate in the development and commercialization of Afrezza in China through a potential business collaboration.Source: investors.mannkindcorp.com/secfiling.cfm?filingID=1193125-16-764506&CIK=899460Cowgirl this is misinformation/fud "I can't be so sure. 5+ more months - great - but the problem here is Afrezza sales." because it was clearly stated during the call that currently they have a financial runway till 3Q2017. Also RLS will be finalising its technical arrangements in december 2016. Cannabis initiative election 2016 update: ME: Too close MA: ✓ AZ: X NV: ✓ CA: ✓ FL: ✓ ND: ✓ MT: ✓ AR: ✓ Source: cannabiswire.com/election-results-cannabis-initiatives-across-u-s IMHO, Mannkind Corp will be absorbed by RLS on the stock market but will not be dissolved as entity due to branding, corporate identity on our star product Afrezza. This way the valuation explose. It's all good that there was a $130 Mil swing that comes Mankind's way but, do know, it's 40 million in cash, a potential sale of Valencia which may net MNKD $15 mil. The 70+ million loan to Sanofi wasn't due for may years - think 2023....so, $55 Million ...divided by 10Mil per mo. -that ONLY buys 5+ months. I'm not saying it's not good but let's not get to carried away with it. Towards the end of the Conf Call Matt P. seemed to imply that delisting will not be an issue and that today's actions should go along way towards that. I can't be so sure. 5+ more months - great - but the problem here is Afrezza sales. They have not taken off. That's why we continue to decline. There's no current evidence that show a hockey stick type turn in scripts. Until then the market cap will most likely remain in the $200 million or so range. One can argue lower cost to Amp for Insulin but one could also note we appear to be picking up expense for long term study as well. And maybe cost for pediatric study too. So, fingers still crossed for some EPI partner or RLS milestone but we're not out of the woods yet. |
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Post by rockstarrick on Nov 10, 2016 7:27:41 GMT -5
On November 9, 2016, the Company entered into an amendment (the “Amendment”) to the Supply Agreement (the “Amphastar Agreement”), dated July 31, 2014, by and between the Company and Amphastar Pharmaceuticals, Inc. (“Amphastar”). Pursuant to the Amendment, the term of the Amphastar Agreement was extended from December 1, 2019 to December 31, 2023. In addition, the delivery schedule was modified to provide that Amphastar will ship €2.7 million of insulin to the Company in the fourth quarter of 2017, €8.9 million in 2018, €11.6 million in 2019, €15.5 million in 2020 and in 2021, and €19.4 million in 2022 and in 2023. The Company also granted Amphastar a right of first refusal to participate in the development and commercialization of Afrezza in China through a potential business collaboration.Source: investors.mannkindcorp.com/secfiling.cfm?filingID=1193125-16-764506&CIK=899460Cowgirl this is misinformation/fud "I can't be so sure. 5+ more months - great - but the problem here is Afrezza sales." because it was clearly stated during the call that currently they have a financial runway till 3Q2017. Also RLS will be finalising its technical arrangements in december 2016. Cannabis initiative election 2016 update: ME: Too close MA: ✓ AZ: X NV: ✓ CA: ✓ FL: ✓ ND: ✓ MT: ✓ AR: ✓ Source: cannabiswire.com/election-results-cannabis-initiatives-across-u-s IMHO, Mannkind Corp will be absorbed by RLS on the stock market but will not be dissolved as entity due to branding, corporate identity on our star product Afrezza. This way the valuation explose. It's all good that there was a $130 Mil swing that comes Mankind's way but, do know, it's 40 million in cash, a potential sale of Valencia which may net MNKD $15 mil. The 70+ million loan to Sanofi wasn't due for may years - think 2023....so, $55 Million ...divided by 10Mil per mo. -that ONLY buys 5+ months. I'm not saying it's not good but let's not get to carried away with it. Towards the end of the Conf Call Matt P. seemed to imply that delisting will not be an issue and that today's actions should go along way towards that. I can't be so sure. 5+ more months - great - but the problem here is Afrezza sales. They have not taken off. That's why we continue to decline. There's no current evidence that show a hockey stick type turn in scripts. Until then the market cap will most likely remain in the $200 million or so range. One can argue lower cost to Amp for Insulin but one could also note we appear to be picking up expense for long term study as well. And maybe cost for pediatric study too. So, fingers still crossed for some EPI partner or RLS milestone but we're not out of the woods yet. You say 5+ months, Matt, (the CEO that negotiated the settlement) says qtr 4 2017, I'm putting my money on Matt. |
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kenneth
Newbie
Posts: 3 
Sentiment: Long
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Post by kenneth on Nov 10, 2016 7:29:49 GMT -5
What about r/s anyone? How much time do we have? Preferably no r/s is coming
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