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Post by jred on Sept 25, 2017 12:45:59 GMT -5
To be clear - the preferred shares are already approved and can be issued - terms to be set by the board. For a company to issue preferred shares that are convertible into common, there have to be enough approved unissued common shares to cover the conversion feature.
And again - imo - if they are planning on using this route I believe they understand the runway well enough to avoid running out of cash.
And this is just one possible "recapitalization" option.
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Post by thekid2499 on Sept 25, 2017 13:03:49 GMT -5
They are transferring common shares that trade on TASE to Nasdaq and not preferred shares. That will allow MNKD to sell 10 million preferred shares as TASE doesn't allow 2 classes of shares They can sell each preferred shares on their own terms as long as someone is willing to buy - 10 or 25 or 100 per share , convertible or not or just interest payments OK. You are saying the removal of MNKD from the TASE exchange will ALLOW Mannkind the possibility to sell preferred shares. Would the authorization of preferred shares need shareholder approval? An increase in common shares need a vote by shareholders to be approved. This is what I see happening. i think we get a minor kick of the can down the road with an infusion of like $20 or $25 million. And then hopefully with label change and sales trajectory, they are able to secure an international partner with upfront cash. My wish is that they get upfront money by selling rights to technosphere for a drug or two. But I'm not optimistic that this will happen in the near future and the near term milestones don't seem to point to this. |
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Post by celo on Sept 25, 2017 13:18:26 GMT -5
OK. You are saying the removal of MNKD from the TASE exchange will ALLOW Mannkind the possibility to sell preferred shares. Would the authorization of preferred shares need shareholder approval? An increase in common shares need a vote by shareholders to be approved. This is what I see happening. i think we get a minor kick of the can down the road with an infusion of like $20 or $25 million. And then hopefully with label change and sales trajectory, they are able to secure an international partner with upfront cash. My wish is that they get upfront money by selling rights to technosphere for a drug or two. But I'm not optimistic that this will happen in the near future and the near term milestones don't seem to point to this. Mike from the Sept 11th conference, "The company is under recapitalization process, we’ve announced that and obviously will be fund raising and recapitalizing the company but there is no reason to believe that the company won’t be here and will continue to sustain itself when it comes to recapitalization process. So that’s important." Mike from Q2 conference call,"So with that you saw this afternoon, we announced that we withdraw from the [Telsey] stock exchange. We’re doing this for a couple of reason. We want to simplify our filings, we want to reduce our expenses, and also it's freeze up 10 million preferred shares." That fund raising almost certainly has to be dilution of some sort. I agree that the company will continue a steep accent in it's sales trajectory which will limit the need for future fund raising. Burn rate should go down as revenue increase |
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Post by buyitonsale on Sept 25, 2017 13:30:42 GMT -5
RLS has been mentioned today specifically and it has been a while.
If RLS is going forward with their product line, they will need manufacturing.
I suspect there is a connection between mentioned sale and leaseback of the plant and RLS.
Mike has said in a previous presentation "You got manufacturing plant that we own. We have partner there."...
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Post by celo on Sept 25, 2017 13:35:05 GMT -5
RLS has been mentioned today specifically and it has been a while. If RLS is going forward with their product line, they will need manufacturing. I suspect there is a connection between mentioned sale and leaseback of the plant and RLS. Mike has said in a previous presentation "You got manufacturing plant that we own. We have partner there."... Sounds quick and easy, however RLS has given 1 million dollars and has a website with some beautiful trees and that's about it. I don't see the needed funds coming from RLS |
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Post by peppy on Sept 25, 2017 14:11:47 GMT -5
OK. You are saying the removal of MNKD from the TASE exchange will ALLOW Mannkind the possibility to sell preferred shares. Would the authorization of preferred shares need shareholder approval? An increase in common shares need a vote by shareholders to be approved. This is what I see happening. i think we get a minor kick of the can down the road with an infusion of like $20 or $25 million. And then hopefully with label change and sales trajectory, they are able to secure an international partner with upfront cash. My wish is that they get upfront money by selling rights to technosphere for a drug or two. But I'm not optimistic that this will happen in the near future and the near term milestones don't seem to point to this.
quote; My wish is that they get upfront money by selling rights to technosphere for a drug or two.
Reply: Treprostinil on every conference call/event webcast cast with Ray and Mike. Would the makers of Viagra and Cialis have some sort of vested interest in Technsophere Treprostnil ? patent extension ish? Viagra/ Pfizer Cialis/ Lilly
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Post by traderdennis on Sept 25, 2017 14:22:14 GMT -5
In my opinion if we get a favorable label from the FDA and the stock goes up past 3 dollars after we can sell the preferred shares it kicks the can down the road for six more months. Mike better make the 2h income targets and then a longer term dillution will occur with an even higher stock price. Deerfield gets paid out and we no longer have that monkey on our back.
If the label does not substantially improve it will be game over.
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Post by peppy on Sept 25, 2017 15:28:29 GMT -5
In my opinion if we get a favorable label from the FDA and the stock goes up past 3 dollars after we can sell the preferred shares it kicks the can down the road for six more months. Mike better make the 2h income targets and then a longer term dillution will occur with an even higher stock price. Deerfield gets paid out and we no longer have that monkey on our back. If the label does not substantially improve it will be game over. you are correct well said
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Post by babaoriley on Sept 25, 2017 15:35:11 GMT -5
OK. You are saying the removal of MNKD from the TASE exchange will ALLOW Mannkind the possibility to sell preferred shares. Would the authorization of preferred shares need shareholder approval? An increase in common shares need a vote by shareholders to be approved. This is what I see happening. i think we get a minor kick of the can down the road with an infusion of like $20 or $25 million. And then hopefully with label change and sales trajectory, they are able to secure an international partner with upfront cash. My wish is that they get upfront money by selling rights to technosphere for a drug or two. But I'm not optimistic that this will happen in the near future and the near term milestones don't seem to point to this. I think any such sale of Technosphere as you describe will be for a modest amount of cash, and a royalty down the road. A buyer would not likely want to sink too much into a use that may never get approved. |
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Post by babaoriley on Sept 25, 2017 15:36:58 GMT -5
In my opinion if we get a favorable label from the FDA and the stock goes up past 3 dollars after we can sell the preferred shares it kicks the can down the road for six more months. Mike better make the 2h income targets and then a longer term dillution will occur with an even higher stock price. Deerfield gets paid out and we no longer have that monkey on our back. If the label does not substantially improve it will be game over. you are correct well said
Wow, peppy, you mean that? So if we don't get a substantially improved label you're out of the investment? |
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Post by compound26 on Sept 25, 2017 15:38:14 GMT -5
In my opinion if we get a favorable label from the FDA and the stock goes up past 3 dollars after we can sell the preferred shares it kicks the can down the road for six more months. Mike better make the 2h income targets and then a longer term dillution will occur with an even higher stock price. Deerfield gets paid out and we no longer have that monkey on our back. If the label does not substantially improve it will be game over. you are correct well said
On this board, over the last few years, I have read so many times "if ....... does not happen, then it will be game over." And if I recall correctly, a lot of times, ....... actually did not happen, and yet game is still going on as of today.  And I recall Thanksgiving 2016 and August 15, 2017 were among the several dates that were mentioned on this board as the more likely days that by such date the game will be over. |
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Post by peppy on Sept 25, 2017 15:41:07 GMT -5
I mean it would seem with the debt load and the valuation from hell for the technology in this moment, MNKD's future for now hinges on the label change. That seems to be what is priced in no?
5 days, 6 days for the decision?
What do you mean?
Added: (I can not believe physicians can not order the insulin they want. the market controlled. It has been a learning experience.) |
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Post by compound26 on Sept 25, 2017 15:45:20 GMT -5
I mean it would seem with the debt load and the valuation from hell for the technology in this moment, MNKD's future for now hinges on the label change. That seems to be what is priced in no?
5 days, 6 days for the decision?
What do you mean?
Added: (I can not believe physicians can not order the insulin they want. the market controlled. It has been a learning experience.) Sep. 23 at 6:51 PM NatesNotes Nate Pile @addiction2money @ironmoss no doubt a label change will help accelerate things, but a lack of change won't hurt current trajectory... stocktwits.com/NatesNotes |
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Post by celo on Sept 25, 2017 16:49:08 GMT -5
I mean it would seem with the debt load and the valuation from hell for the technology in this moment, MNKD's future for now hinges on the label change. That seems to be what is priced in no?
5 days, 6 days for the decision?
What do you mean?
Added: (I can not believe physicians can not order the insulin they want. the market controlled. It has been a learning experience.) Sep. 23 at 6:51 PM NatesNotes Nate Pile @addiction2money @ironmoss no doubt a label change will help accelerate things, but a lack of change won't hurt current trajectory... stocktwits.com/NatesNotesI think Mike has been working very hard on the label change. I don't think he would show up and waste his time at these conferences professing how a label change will make all the difference in the world unless he believed it would happen. I don't think he would put on hold renegotiating with insurances unless he thought it would make a difference. To me, that is a lot on the line for something you believe is completely up in the air. He is probably waiting for the outcome of the label change to raise money. Recapitalization process becomes a lot less painless. |
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Post by rockstarrick on Sept 25, 2017 16:59:42 GMT -5
This is what I see happening. i think we get a minor kick of the can down the road with an infusion of like $20 or $25 million. And then hopefully with label change and sales trajectory, they are able to secure an international partner with upfront cash. My wish is that they get upfront money by selling rights to technosphere for a drug or two. But I'm not optimistic that this will happen in the near future and the near term milestones don't seem to point to this. I think any such sale of Technosphere as you describe will be for a modest amount of cash, and a royalty down the road. A buyer would not likely want to sink too much into a use that may never get approved. I thought that was the whole point behind Your Drug Our Delivery,,, "Your (approved) drug, our (approved) Delivery" to be used for approved Drugs that had to be delivered via Injection due to instability. |
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And I recall Thanksgiving 2016 and August 15, 2017 were among the several dates that were mentioned on this board as the more likely days that by such date the game will be over. 