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Post by sportsrancho on Apr 7, 2017 21:32:13 GMT -5
www.smarteranalyst.com/2017/04/07/taking-page-david-shaws-investment-book-mannkind-corporation-mnkd-valeant-pharmaceuticals-intl-inc-vrx-gilead-sciences-inc-gild/David E. Shaw, quant genius and hedge fund manager billionaire extraordinaire founded DE Shaw as a sharp mathematical models-meets-algorithms dual-powered firm. DE Shaw in fact was on of the first of its kind, with Shaw generating his billionaires from a unique slant of quantitative savvy. It is a method that seems to be working fluidly for the hedge fund manager, whose firm collected roughly $400 million just last year alone. This kind of quant cleverness and high financial performance have landed Shaw on the LCH Investments’ top 20 hedge fund managers list thanks to DE Shaw’s $25.3 billion in impressive net gains. When taking a gander at the biotech sector, what does a numbers master whose billions are rooted in keen numbers know-how think of players like MannKind Corporation (NASDAQ:MNKD), Valeant Pharmaceuticals Intl Inc (NYSE:VRX), and Gilead Sciences, Inc. (NASDAQ:GILD)? Let’s dive in to Shaw’s latest up-and-down moves in the biotech world: MannKind Corporation MannKind’s cash flow is continuing to dry up the well, and investors are starting to question whether there is enough staying power behind Afrezza, the biotech firm’s rapid acting inhaled insulin approved to improve glycemic control in adult patients with diabetes mellitus. With sales buried beneath 300 weekly prescriptions and looming quarterly revenue results that stand to be the weakest since the drug launched more than two years prior, uncertainty swims around MNKD’s prospects. Why is MNKD’s cash footing so dire? Let’s not forget that the firm has $20 million in debt payments hanging with a four-month deadline pressing overhead. Less than a year ago, MannKind turned to dilution as a Plan B, offering approximately 50 million shares in its stock at a discount of 30% to where the shares were trading at the time. Afrezza sales have subsequently sunk even further since the dilution, and cash does not look much better. However, when glancing at the most recent SEC filing, DE Shaw not only bets on MannKind, but does so in a big way, lifting 347% of its holding in MNKD to 5,275,095 shares worth $3,359K. Perhaps Shaw sees M&A potential that has him daring to risk the numbers.
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Post by gamblerjag on Apr 7, 2017 21:42:12 GMT -5
This came out a few hours ago.. www.smarteranalyst.com/2017/04/07/taking-page-david-shaws-investment-book-mannkind-corporation-mnkd-valeant-pharmaceuticals-intl-inc-vrx-gilead-sciences-inc-gild/MannKind’s cash flow is continuing to dry up the well, and investors are starting to question whether there is enough staying power behind Afrezza, the biotech firm’s rapid acting inhaled insulin approved to improve glycemic control in adult patients with diabetes mellitus. With sales buried beneath 300 weekly prescriptions and looming quarterly revenue results that stand to be the weakest since the drug launched more than two years prior, uncertainty swims around MNKD’s prospects. Why is MNKD’s cash footing so dire? Let’s not forget that the firm has $20 million in debt payments hanging with a four-month deadline pressing overhead. Less than a year ago, MannKind turned to dilution as a Plan B, offering approximately 50 million shares in its stock at a discount of 30% to where the shares were trading at the time. Afrezza sales have subsequently sunk even further since the dilution, and cash does not look much better. However, when glancing at the most recent SEC filing, DE Shaw not only bets on MannKind, but does so in a big way, lifting 347% of its holding in MNKD to 5,275,095 shares worth $3,359K. Perhaps Shaw sees M&A potential that has him daring to risk the numbers.
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Post by Deleted on Apr 7, 2017 22:26:54 GMT -5
what is his total investment in mnkd and what % of his assets are betting on MNKD. DO the math. If its like a .00001% of AUM is the same thing as us betting $1000
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Post by mnkdfann on Apr 7, 2017 22:28:19 GMT -5
So the Dude manages billions of dollars and has literally a few million dollars invested in Mannkind.
That's nice, but relatively speaking he is only investing pocket change in this company. Compared to the next two companies mentioned in the article, in which he has 10s and 100s of millions invested respectively.
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Post by ilovekauai on Apr 7, 2017 22:41:49 GMT -5
Well, this is all very interesting late-brealing news! Let's see how the cards are dealt next week. I still suggest the winning hand is with Afrezza. Have a really nice weekend Longs. Aloha.
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Post by sportsrancho on Apr 7, 2017 22:46:15 GMT -5
what is his total investment in mnkd and what % of his assets are betting on MNKD. DO the math. If its like a .00001% of AUM is the same thing as us betting $1000 Doesn't matter, if he sees M&A potential he won't be the last:-)
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Post by ilovekauai on Apr 7, 2017 22:50:08 GMT -5
That's correct Sports. You get it!!
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Post by mnkdfann on Apr 7, 2017 22:58:28 GMT -5
what is his total investment in mnkd and what % of his assets are betting on MNKD. DO the math. If its like a .00001% of AUM is the same thing as us betting $1000 Doesn't matter, if he sees M&A potential he won't be the last:-) Sure, but Shaw never said in the article that he saw any such thing. The M&A observation was an opinion expressed by the English Lit major who wrote the piece.
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Post by steelers on Apr 7, 2017 23:16:14 GMT -5
r those 5 million shares pre-split or post because if shaw has over 5 million shares he would then have over 5% of the company (postsplit). I believe a form would have to be filed within 10 days of crossing the threshold (depending on the classification of the investor). the form would be based on whether he is considered a passive, qualified institutional, or beneficial. normally I would think this is just another non starter but it coincided with 35 million shares traded today (pre-split)... after looking at the amount that the stock adds up to it would seem that his holdings are presplit so he wouldnt be across the 5% threshold..
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Post by slugworth008 on Apr 7, 2017 23:51:20 GMT -5
www.smarteranalyst.com/2017/04/07/taking-page-david-shaws-investment-book-mannkind-corporation-mnkd-valeant-pharmaceuticals-intl-inc-vrx-gilead-sciences-inc-gild/David E. Shaw, quant genius and hedge fund manager billionaire extraordinaire founded DE Shaw as a sharp mathematical models-meets-algorithms dual-powered firm. DE Shaw in fact was on of the first of its kind, with Shaw generating his billionaires from a unique slant of quantitative savvy. It is a method that seems to be working fluidly for the hedge fund manager, whose firm collected roughly $400 million just last year alone. This kind of quant cleverness and high financial performance have landed Shaw on the LCH Investments’ top 20 hedge fund managers list thanks to DE Shaw’s $25.3 billion in impressive net gains. When taking a gander at the biotech sector, what does a numbers master whose billions are rooted in keen numbers know-how think of players like MannKind Corporation (NASDAQ:MNKD), Valeant Pharmaceuticals Intl Inc (NYSE:VRX), and Gilead Sciences, Inc. (NASDAQ:GILD)? Let’s dive in to Shaw’s latest up-and-down moves in the biotech world: MannKind Corporation MannKind’s cash flow is continuing to dry up the well, and investors are starting to question whether there is enough staying power behind Afrezza, the biotech firm’s rapid acting inhaled insulin approved to improve glycemic control in adult patients with diabetes mellitus. With sales buried beneath 300 weekly prescriptions and looming quarterly revenue results that stand to be the weakest since the drug launched more than two years prior, uncertainty swims around MNKD’s prospects. Why is MNKD’s cash footing so dire? Let’s not forget that the firm has $20 million in debt payments hanging with a four-month deadline pressing overhead. Less than a year ago, MannKind turned to dilution as a Plan B, offering approximately 50 million shares in its stock at a discount of 30% to where the shares were trading at the time. Afrezza sales have subsequently sunk even further since the dilution, and cash does not look much better. However, when glancing at the most recent SEC filing, DE Shaw not only bets on MannKind, but does so in a big way, lifting 347% of its holding in MNKD to 5,275,095 shares worth $3,359K. Perhaps Shaw sees M&A potential that has him daring to risk the numbers. Chubby time!!! I sure hope he's right on the money! Thanks Sports for the post - Have a great weekend!
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Post by slugworth008 on Apr 7, 2017 23:52:42 GMT -5
what is his total investment in mnkd and what % of his assets are betting on MNKD. DO the math. If its like a .00001% of AUM is the same thing as us betting $1000 Try saying something righteous for a change -
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Post by peppy on Apr 8, 2017 9:12:05 GMT -5
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. (e) On April 6, 2017, MannKind Corporation (the “Company”) entered into a Change of Control Agreement with each of its executive officers (each, an “Executive”), consisting of: Matthew J. Pfeffer, Michael E. Castagna, David Thomson, Ph.D., J.D., Raymond Urbanski, M.D., Ph.D., Joseph Kocinsky, Rose Alinaya and Stuart A. Tross, Ph.D. The Change of Control Agreement with each Executive provides for the employment of the Executive during the two-year period following a change of control of the Company and certain benefits during that period. Each Change of Control Agreement provides that during the two-year period following a change of control of the Company, the Executive will (i) have a position and duties commensurate to those of the Executive prior to the change of control, (ii) perform his or her services at the same work site as before the change of control, (iii) receive an annual base salary at least equal to the Executive’s annual base salary in effect during the year in which the change of control occurs, (iv) be eligible for an annual performance-based bonus equal to the average annual bonus paid or payable to the Executive for the three years prior to the change of control and (v) receive other benefits. In addition, each Change of Control Agreement provides that in the event the Executive’s employment is terminated other than for cause or if the Executive resigns for good reason during the two-year period following a change of control of the Company (or prior to, but in anticipation of, a change of control of the Company), the Executive will be entitled to certain severance benefits, consisting of (i) the continuation of base salary for 18 months following the date of termination, (ii) the payment of an amount equal to 1.5 times the average annual bonus paid or payable to the Executive for the three years prior to the change of control, (iii) a pro rated annual bonus amount for the current year if the performance criteria for earning such bonus is met or if the Company’s board of directors determines that all such criteria could have been satisfied if the Executive remained employed for the full fiscal year, (iv) health and dental insurance benefits for up to 18 months following the date of termination, (v) the immediate vesting of all of the Executive’s equity awards and (vi) the extension of the time to exercise vested stock options following the date of termination. The term of each Change of Control Agreement is for a period of two years and will be automatically renewed for additional one-year periods unless either party gives notice to terminate at least 90 days prior to the end of its initial term or any subsequent term. The foregoing description is only a summary of the Change of Control Agreements and is qualified in its entirety by the terms of the Change of Control Agreements, the form of which is attached hereto as Exhibit 99.1. The change of control agreement, investors.mannkindcorp.com/secfiling.cfm?filingid=1193125-17-116178&CIK=899460 "The Change of Control Agreement with each Executive provides for the employment of the Executive during the two-year period following a change of control of the Company" "On April 6, 2017, MannKind Corporation (the “Company”) entered into a Change of Control Agreement" ----------------------------------------------------------------------------------------------------------------------------------------------------- Annual Meeting Date: May 18, 2017 Time: 10:00 A.M. (Eastern Daylight Time) Place: MannKind Corporation, 40 Taylor Street, Danbury, CT 06810 The purpose of the Annual Meeting is to take action on the following proposals: files.shareholder.com/downloads/AMDA-22AIJ9/3642147103x0xS1193125-17-116196/899460/filing.pdf ------------------------------------------------------------------------------------------------------------------------------------------------------- In my dreams, my made up story: RLS/ Arthur Rubinfeld would buy MNKD. RLS would get the debt write off over years and the technosphere technology and patents. RLS would get a nasdaq listing? Taking over the MNKD listing? Funding for MNKD for afrezza, epi etc for two years.
I should ask, has a private company bought a public company and in so doing taken it's self public by defacto? ?
Again, all a dream land question.
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Post by sportsrancho on Apr 8, 2017 9:29:55 GMT -5
I'm not sure but don't think so. They have to merge with us to become public. They wouldn't be buying us we would be becoming them.
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Post by Deleted on Apr 8, 2017 9:37:03 GMT -5
what is his total investment in mnkd and what % of his assets are betting on MNKD. DO the math. If its like a .00001% of AUM is the same thing as us betting $1000 Try saying something righteous for a change - I think with what I said I'm trying to help others understand is righteous. Do the math
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Post by Deleted on Apr 8, 2017 9:40:17 GMT -5
what is his total investment in mnkd and what % of his assets are betting on MNKD. DO the math. If its like a .00001% of AUM is the same thing as us betting $1000 Doesn't matter, if he sees M&A potential he won't be the last:-) Fair enough, but at least understand he is betting next to nothing on it happening. Its not the same as half of this board who probably have half their portfolio in MNKD which we both know a lot do. I think its important for people to understand that. You play black jack at $10 a hand and he plays black jack at $100,000 a hand. Its all relative to your wealth.
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