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Post by kbrion77 on Jan 3, 2017 10:48:16 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. This is just a ridiculous post. I know everyone is frustrated with the $1M but this was a pre-determined amount based on the initial licensing agreement. Biotech milestones scale up through development. Again this is more progress than every licensing deal prior which have never materialized. The entire focus should be on Afrezza, if Afrezza fails it's over.
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Post by lakon on Jan 3, 2017 11:16:57 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. Feels more like the lawyers/accountants waited until the last minute to cut the check so they could hang onto the money, but release it for tax purposes in 2016.
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Post by dictatorsaurus on Jan 3, 2017 12:15:17 GMT -5
At the burn rate of $10 million a month this should cover business expenses for 3 days. So basically $1 million will be depleted by the end of business day tomorrow.
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Post by silentknight on Jan 3, 2017 12:15:47 GMT -5
Well, technically Matt was right. MNKD did receive a milestone payment from RLS before the end of the year. It certainly was less than I thought it would be, but it's better than zero. We haven't heard much about RLS and if the size of the milestone is any indication, I can understand why. But hey, at least the runway is extended......for another 3 days.
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Post by Deleted on Jan 3, 2017 12:55:27 GMT -5
So MNKD received settlement from SNY, milestone from RLS. What other catalyst will get this above a buck for 10 days? Unless they have an ace in their pocket (imo history has shown this is not likely) I dont see how a Reverse split is not coming.
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Post by babaoriley on Jan 3, 2017 13:07:20 GMT -5
This news follows a pattern which has been set and followed almost without exception since the announcement of the collaboration with Sanofi: the news is disappointing, either absolutely (when the news was unexpected) or in comparison to what was expected by most. Rose Bowl was better than expected, though.
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Post by dreamboatcruise on Jan 3, 2017 13:11:27 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. I agree with this. Not only were expectations not tamped down, but if memory serves me (and it does not always), management actually mentioned RLS milestone within the context of cash flow. $1M is borderline immaterial. By mentioning it within the context of funding MNKD, I think a reasonable investor would be led to assume it would be more than $1M. No... I am NOT suggesting some sort of law suit over this... but I am a bit disappointed. Caveat... maybe my own wishful thinking made me think I heard management associate this milestone with extending our cash runway.
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Post by promann on Jan 3, 2017 13:20:13 GMT -5
At the burn rate of $10 million a month this should cover business expenses for 3 days. So basically $1 million will be depleted by the end of business day tomorrow. How about the fact that RLS making progress and it is getting this much closer to market being great and great news for MNKD.
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Post by kball on Jan 3, 2017 13:30:48 GMT -5
OTOH its a lot more than the money we're getting on Rx's
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Post by sluggobear on Jan 3, 2017 13:42:24 GMT -5
"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%." Is there a link or a thread that describes what RLS presented? Thanks.
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Post by kball on Jan 3, 2017 13:46:55 GMT -5
"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%." Is there a link or a thread that describes what RLS presented? Thanks. Maybe 200 billion if they focused just on us Mannkind investors who could use it
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Post by silentknight on Jan 3, 2017 13:48:31 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. I agree with this. Not only were expectations not tamped down, but if memory serves me (and it does not always), management actually mentioned RLS milestone within the context of cash flow. $1M is borderline immaterial. By mentioning it within the context of funding MNKD, I think a reasonable investor would be led to assume it would be more than $1M. No... I am NOT suggesting some sort of law suit over this... but I am a bit disappointed. Caveat... maybe my own wishful thinking made me think I heard management associate this milestone with extending our cash runway. I think this nails it. I don't think anyone expected it to be this low and MNKD certainly didn't do anything to set realistic goals to what the payment would be. Matt could have said "We are expecting a SMALL milestone payment..." and it would have better prepared people for what occurred. A part of me also believes that MNKD wouldn't have recieved anything at all unless some behind the scenes negotiating had taken place. The CEO made public statements indicating that a milestone was coming in 2016 and you see $1 million on the last business day of the year? To me, it seems to be bare minimum of what had to be done legally to avoid a lawsuit and save face. Immaterial in the grand scheme of things but material in that it keeps the CEO from lying to investors. My expectations for what information RLS provides the public during it's big "reveal" are substantially lower now. So are my expectations for what benefit the relationship will provide MNKD....
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Post by sophie on Jan 3, 2017 13:49:00 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. I agree with this. Not only were expectations not tamped down, but if memory serves me (and it does not always), management actually mentioned RLS milestone within the context of cash flow. $1M is borderline immaterial. By mentioning it within the context of funding MNKD, I think a reasonable investor would be led to assume it would be more than $1M. No... I am NOT suggesting some sort of law suit over this... but I am a bit disappointed. Caveat... maybe my own wishful thinking made me think I heard management associate this milestone with extending our cash runway. My memory is similar to yours- both in remembering the words that were said as well as the porous nature of it. I like the odds that we're both on the same page if we thought we heard the same thing. If not, the general consensus of the board was that it would be used for cash flow and that was burned into our minds with the repetitive chanting. It's moments like this where I don't care about the events (or lack thereof) but rather to the competency and honesty of management. I may eat my words later, but this all seems like the real life equivalent of clickbait. I really hope that if there is something in the works that we don't know about that they would be more honest about it. It's not like it'll buy them anymore time at this point if there isn't anything there. I hope they're not just interested in keeping the price as high as possible for future financing. I won't want to be on the other side of that and don't want to get caught with my pants down. It's the least they can do for the people who have been faithful to them this long. Care about the patients first and the price will take care of itself. Don't forget about the people who got you here either, boys!
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Post by silentknight on Jan 3, 2017 13:53:40 GMT -5
So MNKD received settlement from SNY, milestone from RLS. What other catalyst will get this above a buck for 10 days? Unless they have an ace in their pocket (imo history has shown this is not likely) I dont see how a Reverse split is not coming. I don't think there is one. Sales aren't going to be picking up anytime soon from the looks of things and RLS was immaterial. Reverse split will be coming, my guess next month. We'll likely see the proxy notification pretty soon. R/S will also likely be a double whammy as they will also probably dilute immediately with the higher share price.
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Post by dictatorsaurus on Jan 3, 2017 13:58:51 GMT -5
So MNKD received settlement from SNY, milestone from RLS. What other catalyst will get this above a buck for 10 days? Unless they have an ace in their pocket (imo history has shown this is not likely) I dont see how a Reverse split is not coming. I don't think there is one. Sales aren't going to be picking up anytime soon from the looks of things and RLS was immaterial. Reverse split will be coming, my guess next month. We'll likely see the proxy notification pretty soon. R/S will also likely be a double whammy as they will also probably dilute immediately with the higher share price. I also feel dilution and R/S is coming. I felt during the last call that Matt was hopeful the updates from the CC would push the price over $1. But that didn't happen.
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