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Post by sla55 on Aug 7, 2017 15:06:42 GMT -5
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Post by kbrion77 on Aug 7, 2017 15:10:08 GMT -5
The numbers speak for themselves. They just cannot continue to go on unless something big (nothing short of a miracle) happens. |
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Post by peppy on Aug 7, 2017 15:20:14 GMT -5
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Post by derek2 on Aug 7, 2017 15:21:17 GMT -5
Well, the SG&A expense line doubled. Any less than $10M per month cash burn seems to be unsustainable. The TV sponsorship money had to come from somewhere...
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Post by sla55 on Aug 7, 2017 15:21:32 GMT -5
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Post by cjm18 on Aug 7, 2017 15:22:49 GMT -5
So the cash runway is?
43.4 million as of end of 2nd quarter
7m per month burn rate.
10m due in October
Need to keep 10m cash for mann loan agreement?
We go broke in October?
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Post by mnkdnewb on Aug 7, 2017 15:23:02 GMT -5
Unless they receive some serious $$$ somehow they will be out of cash by mid November. They already have the cash loan from Mann group and as of June 30 they had $43.4 million. They burn $9 million a month.
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Post by silentknight on Aug 7, 2017 15:23:04 GMT -5
Those numbers are not encouraging. There needs to be clear and concise information about how MNKD expects to increase sales immediately. Cash on hand is dwindling quickly while they're selling less than $1 million in Afrezza per month. Ouch.
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Post by alethea on Aug 7, 2017 15:24:18 GMT -5
The numbers speak for themselves. They just cannot continue to go on unless something big (nothing short of a miracle) happens. They had better have an ace up their sleeve because these financial numbers truly, truly suck. The cost of inventory expired due to expiration date exceeds the revenue. Wow!  |
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Post by jonny80s on Aug 7, 2017 15:26:20 GMT -5
It's now August, how much money is left in the till 38 days after June 30th? $25mil burn Q2, we're looking at a $9-10 mil burn per month at this point. $33-34mil....? October should be interesting.
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Post by mnkdfann on Aug 7, 2017 15:26:36 GMT -5
From the Form 8-K: "On August 4, 2017, the board of directors of MannKind Corporation ( “MannKind”) resolved to voluntary delist its common stock from The Tel Aviv Stock Exchange Ltd., or TASE. Under applicable Israeli law, the delisting of MannKind’s common stock from trading on the TASE is expected to become effective three months from the date of request. During this time, MannKind’s common stock will continue to be traded on the TASE."
Why do that?
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Post by straightly on Aug 7, 2017 15:29:45 GMT -5
From the Form 8-K: "On August 4, 2017, the board of directors of MannKind Corporation ( “MannKind”) resolved to voluntary delist its common stock from The Tel Aviv Stock Exchange Ltd., or TASE. Under applicable Israeli law, the delisting of MannKind’s common stock from trading on the TASE is expected to become effective three months from the date of request. During this time, MannKind’s common stock will continue to be traded on the TASE." Why do that? Better than invokuntary, for sure. |
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Post by alethea on Aug 7, 2017 15:29:54 GMT -5
I'm not the sharpest knife in the drawer but I don't see ANYTHING good or encouraging in the three SEC filing links posted by Sla.
There had better be an announcement. Partnership, Technosphere, something or other or tomorrow is another sad day.
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Post by peppy on Aug 7, 2017 15:32:21 GMT -5
As of June 30, 2017, we had $167.4 million principal amount of outstanding debt, consisting of:
• $27.7 million principal amount of 2018 notes bearing interest at 5.75% per annum and maturing on August 15, 2018;
• $45.0 million principal amount of 2019 notes bearing interest at 9.75% per annum, $10.0 million of which is due and payable in August 2017 (with an option for us to elect to further defer the payment of such principal amount from August 31, 2017 to October 31, 2017 if we meet certain conditions described in the Third Amendment), $15.0 million of which is due and payable in each of July 2018 and July 2019, and $5.0 million of which is due and payable in December 2019;
• $15.0 million principal amount of Tranche B notes bearing interest at 8.75% per annum, $5.0 million of which is due and payable in each of May 2018 and 2019, and $5.0 million of which is due and payable in December 2019; and
• $79.7 million principal amount of indebtedness under The Mann Group Loan Arrangement bearing interest at a fixed rate of 5.84% per annum due on January 5, 2020.
On June 27, 2017, we entered into an agreement with The Mann Group, pursuant to which the parties agreed to, among other things, (i) capitalize $10.7 million of accrued and unpaid interest as of June 30, 2017 under The Mann Group Loan Arrangement, resulting in such amount being classified as outstanding principal under The Mann Group Loan Arrangement, (ii) advance to us approximately $19.4 million, the remaining amount available for borrowing by us under The Mann Group Loan Arrangement after the foregoing capitalization of accrued and unpaid interest, and (iii) defer all interest payable on the outstanding principal under The Mann Group Loan Arrangement until July 1, 2018, unless such payments are otherwise permitted under the subordination agreement with Deerfield, and subject to further deferral pursuant to the terms of the subordination agreement with until our payment obligations to Deerfield have been satisfied in full. There are no additional funds available to borrow under The Mann Group Loan Arrangement. As of June 30, 2017, there was no accrued and unpaid interest under The Mann Group Loan Arrangement.
10Q page 41
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Post by kbrion77 on Aug 7, 2017 15:33:25 GMT -5
I'm not the sharpest knife in the drawer but I don't see ANYTHING good or encouraging in the three SEC filing links posted by Sla. There had better be an announcement. Partnership, Technosphere, something or other or tomorrow is another sad day. It's going to get slammed after hours. I anticipate we will hear a lot of "we are looking to do this" and "working on creative non-dilutive financing" but nothing concrete. Mike can knock this out of the park but nobody cares about anything but cash right now. |
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