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Post by sla55 on Jan 3, 2017 9:04:32 GMT -5
VALENCIA, Calif., Jan. 03, 2017 (GLOBE NEWSWIRE) -- MannKind Corporation (NASDAQ:MNKD) (TASE:MNKD) today confirmed that following the completion of initial formulation studies it received a $1 million milestone payment from Receptor Life Sciences, Inc. (RLS) on Friday, December 30, 2016. This milestone payment is part of a previously announced collaboration and license agreement between the company and RLS. Matthew J. Pfeffer, Chief Executive Officer of MannKind, commented, "The results of these studies have further validated the versatility of our formulation technology. We are pleased with the progress to date and look forward to the next phase of product development in our collaboration with RLS." About MannKind Corporation MannKind Corporation (NASDAQ:MNKD) (TASE:MNKD) focuses on the discovery and development of therapeutic products for patients with diseases such as diabetes. MannKind maintains a website at www.mannkindcorp.com to which MannKind regularly posts copies of its press releases as well as additional information about MannKind. Interested persons can subscribe on the MannKind website to e-mail alerts that are sent automatically when MannKind issues press releases, files its reports with the Securities and Exchange Commission or posts certain other information to the website. About Receptor Life Sciences, Inc. Receptor Life Sciences, Inc. is a pharmaceutical development company based in Seattle, Washington. Receptor is quietly laying the foundation for groundbreaking new products in the specialty pharmaceutical market. |
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Post by promann on Jan 3, 2017 9:10:13 GMT -5
Not much but we will take it.. Proves that there is progress and RLS is real!! The end result with RLS will be when we start sharing profits and the money keeps rolling in with no overhead..
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Post by Deleted on Jan 3, 2017 9:12:16 GMT -5
Pathetic amount of money
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Post by onemann on Jan 3, 2017 9:14:48 GMT -5
I wonder if the stock drops this morning on the news that the milestone was so small. Anything is better than nothing though. Maybe that pays for a couple commercials this year.
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Post by lsl428 on Jan 3, 2017 9:25:09 GMT -5
Did MNKD release a press release...nothing on Website.....this was kinda where i expected this number to be......waiting till last day of the year with no announcement...Classic MNKD.....
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Post by otherottawaguy on Jan 3, 2017 9:25:37 GMT -5
Oh were will we spend it all, maybe paying Haken off?
I am overwhelmingly disappointed in the sum, thought that we would be seeing something in the 10M range or better.
This thing is going to drop this morning, may explain some of last weeks year end sell off as well.
Enjoy the ride,
OOG
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Post by kbrion77 on Jan 3, 2017 9:31:43 GMT -5
Oh were will we spend it all, maybe paying Haken off? I am overwhelmingly disappointed in the sum, thought that we would be seeing something in the 10M range or better. This thing is going to drop this morning, may explain some of last weeks year end sell off as well. Enjoy the ride, OOG How would RLS be able to afford $10M? Yeah obviously I would like more than a $1M milestone but it's $1M more than Tolero or Colby. Anyone that is deeply disappointed should have set expectations better than to listen to outrageous posts that RLS will save MNKD or afford anymore than a few million for their first milestone. |
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Post by madog365 on Jan 3, 2017 9:35:20 GMT -5
It's easy to pick on the sum of the payment and say this is not a big deal but that is not what makes today's news important. Today's PR is important because this proves that this is a partnership that is actually progressing and may become fruitful in the future - Unlike some of the partnerships that Mannkind signed years ago and have yet to yield anything besides a PR announcement.
We now know from recent conference event posted that RLS is developing medical marijuana, in an industry expected to explode to 100 Billion. Mannkind is set to benefit with royalty payments in the vicinity of 10%. If RLS really does have an impressive financial and leadership backer as we have been told, i expect them to be a player for many years.
Furthermore today's news continues to lend credibility to the technosphere platform. Not to mention the fact that RLS not only made the 1 million dollar payment but is also paying all research and development costs. Not an easy bill to foot for a startup company.
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Post by brentie on Jan 3, 2017 9:36:15 GMT -5
Did MNKD release a press release...nothing on Website.....this was kinda where i expected this number to be......waiting till last day of the year with no announcement...Classic MNKD..... |
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Post by Deleted on Jan 3, 2017 9:41:52 GMT -5
The amount reflects current value. If technosphere was truly a smoking hot technology that every big pharma wanted to utilize to the stratospheric levels proclaimed by some, we wouldn't be here in this position today. Those expecting a much higher number from RLS are still thinking like the last two years haven't happened. Longer term, maybe whatever RLS is working on will produce enough financial fruit to turn this story around but I'll continue a wait-n-see on that before getting excited.
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Post by lsl428 on Jan 3, 2017 9:50:00 GMT -5
Did MNKD release a press release...nothing on Website.....this was kinda where i expected this number to be......waiting till last day of the year with no announcement...Classic MNKD..... thanks for that...on main website page didn't see |
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Post by Deleted on Jan 3, 2017 9:53:31 GMT -5
The amount reflects current value. If technosphere was truly a smoking hot technology that every big pharma wanted to utilize to the stratospheric levels proclaimed by some, we wouldn't be here in this position today. Those expecting a much higher number from RLS are still thinking like the last two years haven't happened. Longer term, maybe whatever RLS is working on will produce enough financial fruit to turn this story around but I'll continue a wait-n-see on that before getting excited. I think this is a fair. I had expectations low but a 1 million is an absolute joke of money. To each their own if they feel better about RLS even though the sum is so low. |
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Post by rayskum on Jan 3, 2017 9:56:27 GMT -5
I am disappointed by not the milestone amount but by the management 's handling of it. If the milestone amount is so small, why not set investor community's expectation's accordingly. The only time it makes sense to not set expectations is when there is a high probability of a positive surprise. IMO, this is not a good reflection on the management's competency.
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Post by Deleted on Jan 3, 2017 10:19:10 GMT -5
It looks to me that this was done last minute to save face and RLS had to cough up what they can at this time.
Did RLS hope by now , they would have investors for their products based on their presentations in sept/oct and over estimated? sure feels like that.
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Post by otherottawaguy on Jan 3, 2017 10:28:30 GMT -5
Yup, I am watching it too. Suspect those that wanted back in during the new year are driving the price. Once those folks are done, suspect we may see high 0.50's. Debating on whether to do a flip out for a few days and get back in on Thurs/Fri. Might be able to add 10% to the trading shares.
OOG
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