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Post by derek2 on Oct 23, 2017 10:08:58 GMT -5
My biggest concern - finances - continues to improve. Sales are the final piece. Mike has set himself a good runway to execute on.
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Post by zuegirdor on Oct 23, 2017 10:30:29 GMT -5
Am i the only one thinking that we are sleeping with the enemy? Imho the big short is Deerfield..... I have those thoughts, yes, Deerfield shorted MNKD all the way down. The plan has changed. The plan now is to ride MNKD all the way up.
finally, I understand how the stock market works.
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Post by lakers on Oct 23, 2017 12:12:38 GMT -5
7. Expansion of Payor Coverage (CVS/Caremark? Mike C said they were ready to sign with a large PBM in Jan 18) ExpressScript, no PA, Aetna, Anthem and more in Jan 2018. But number one, our sales force was hired in February. We started with a small beta sales force last year, and we subsequently expanded them to a full-time MannKind sales force in February. And we started, February with about 70 FTEs, we since hired some Medical Liaisons and we’ve got a fully integrated sales team, I think right about 90ish sales reps today, and our insurance coverage continues to expand, so we have Express Scripts with no prior authorization, Aetna, Anthem and more to come. One Drop collaboration is something we announced in late May, and that’s something that we’re looking at around, how do you use coaching to get optimal outcomes? How you potentially think about a membership model to change the cash market? There’s $300 million in cash insulin sales in this country, where people are paying several hundred dollars a month just for their insulin. The next thing is around clinical trials. So the last time there was any trial done for this drug was probably back in 2012 subsequently getting ready for approval. Since then you’ve had people like Dexcom and One Drop and [indiscernible] all these new technologies coming into diabetes around coaching and virtual apps, and so we don’t have any data in that space. We started to invest data looking at dosing of this product and how you dose the drug, because we think that if you go back to the pivotal programs, the product was consistently underdosed. And so we passed our outcomes, but I believe if you really dose the product, if you look at some of our modeling data, we believe we can have potentially a superior insulin. Now, we’re trying to really get some of that data moving, so that we can really articulate what the product profile looks like versus other mealtime insulins. MannKind's (MNKD) CEO Michael Castagna on Cantor Fitzgerald Global Healthcare Conference (Transcript) $MNKD www.seekingalpha.com/article/4109298
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Post by madog365 on Oct 23, 2017 13:14:19 GMT -5
thought this was interesting provision where Deerfield cannot sell the notes to big pharma companies.
Assignment . The Holder may sell, transfer, assign, pledge, hypothecate or otherwise dispose of this Note, in whole or in part; provided that (i) the Holder shall deliver a written notice to the Company, substantially in the form of the Assignment attached hereto as Exhibit B , indicating the Person or Persons to whom the Note shall be assigned and the respective principal amount of the Note to be assigned to each assignee, (ii) the transferee shall have complied with Section 2.5(d) of the Facility Agreement, and (iii) unless an Event of Default shall have occurred and is continuing, no assignment shall be permitted to any (A) Major Pharmaceutical Company or any (B) entity principally engaged in the business of selling insulin or insulin delivery products
Major Pharmaceutical Company ” means any Person engaged in the pharmaceutical or biotechnology industry which, for the immediately preceding fiscal year, had total revenues in excess of $2,000,000,000 (or its equivalent in another currency).
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Post by rockstarrick on Oct 23, 2017 13:30:46 GMT -5
thought this was interesting provision where Deerfield cannot sell the notes to big pharma companies. Assignment . The Holder may sell, transfer, assign, pledge, hypothecate or otherwise dispose of this Note, in whole or in part; provided that (i) the Holder shall deliver a written notice to the Company, substantially in the form of the Assignment attached hereto as Exhibit B , indicating the Person or Persons to whom the Note shall be assigned and the respective principal amount of the Note to be assigned to each assignee, (ii) the transferee shall have complied with Section 2.5(d) of the Facility Agreement, and (iii) unless an Event of Default shall have occurred and is continuing, no assignment shall be permitted to any (A) Major Pharmaceutical Company or any (B) entity principally engaged in the business of selling insulin or insulin delivery products
Major Pharmaceutical Company ” means any Person engaged in the pharmaceutical or biotechnology industry which, for the immediately preceding fiscal year, had total revenues in excess of $2,000,000,000 (or its equivalent in another currency). In other words,,, you cant sell to anybody that has not accepted our selling price
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Post by casualinvestor on Oct 23, 2017 14:52:23 GMT -5
Why do I get the feeling that the stock is currently being driven down so that Deerfield can get the best possible price out of that 3-day average. Note that thursday was also quite the low day. I expect to see a rebound tomorrow Putting my money where my mouth is and increased my share count by another 5%, although I think I missed the bottom by .01c and got them at $3.74. I can live with that We'll see what tomorrow brings. Maybe I'm just a closet conspiracy theorist
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Post by sportsrancho on Oct 23, 2017 16:25:53 GMT -5
Why do I get the feeling that the stock is currently being driven down so that Deerfield can get the best possible price out of that 3-day average. Note that thursday was also quite the low day. I expect to see a rebound tomorrow Putting my money where my mouth is and increased my share count by another 5%, although I think I missed the bottom by .01c and got them at $3.74. I can live with that We'll see what tomorrow brings. Maybe I'm just a closet conspiracy theorist I think we all came out of the closet years ago. I’m willing be bet that management has had a good laugh reading the RLS thread:-)
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Post by boca1girl on Oct 23, 2017 16:38:33 GMT -5
Why do I get the feeling that the stock is currently being driven down so that Deerfield can get the best possible price out of that 3-day average. Note that thursday was also quite the low day. I expect to see a rebound tomorrow Putting my money where my mouth is and increased my share count by another 5%, although I think I missed the bottom by .01c and got them at $3.74. I can live with that We'll see what tomorrow brings. Maybe I'm just a closet conspiracy theorist I’m confused by your 3 day average comment. Correct me if I’m wrong, but Deerfield is not buying any shares, they are taking shares as compensation. How does a lower average price over the last three days mean anything in this case?
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Post by xanet on Oct 23, 2017 16:45:41 GMT -5
Why do I get the feeling that the stock is currently being driven down so that Deerfield can get the best possible price out of that 3-day average. Note that thursday was also quite the low day. I expect to see a rebound tomorrow Putting my money where my mouth is and increased my share count by another 5%, although I think I missed the bottom by .01c and got them at $3.74. I can live with that We'll see what tomorrow brings. Maybe I'm just a closet conspiracy theorist I’m confused by your 3 day average comment. Correct me if I’m wrong, but Deerfield is not buying any shares, they are taking shares as compensation. How does a lower average price over the last three days mean anything in this case? From the agreement (see page one of this thread): Specifically, the Facility Agreement was amended and restated to provide that Deerfield may convert principal due from time to time into an aggregate of up to 4,000,000 shares of MannKind's common stock. The conversion price will be the greater of (i) the average of the volume weighted average price per share of the common stock for the three trading day period immediately preceding the date of any election by Deerfield to convert principal amounts and (ii) $3.25 per share, subject to adjustment under certain circumstances described in the notes. Any conversions of principal by Deerfield under the Facility Agreement will be applied first to reduce the October Payment, and after the October Payment has been satisfied, to reduce other principal payments due under the notes. Read more: mnkd.proboards.com/thread/8940/mannkind-restructures-deerfield-debt#ixzz4wN0b9y68
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Post by boca1girl on Oct 23, 2017 17:02:11 GMT -5
I’m confused by your 3 day average comment. Correct me if I’m wrong, but Deerfield is not buying any shares, they are taking shares as compensation. How does a lower average price over the last three days mean anything in this case? From the agreement (see page one of this thread): Specifically, the Facility Agreement was amended and restated to provide that Deerfield may convert principal due from time to time into an aggregate of up to 4,000,000 shares of MannKind's common stock. The conversion price will be the greater of (i) the average of the volume weighted average price per share of the common stock for the three trading day period immediately preceding the date of any election by Deerfield to convert principal amounts and (ii) $3.25 per share, subject to adjustment under certain circumstances described in the notes. Any conversions of principal by Deerfield under the Facility Agreement will be applied first to reduce the October Payment, and after the October Payment has been satisfied, to reduce other principal payments due under the notes. Read more: mnkd.proboards.com/thread/8940/mannkind-restructures-deerfield-debt#ixzz4wN0b9y68Yes, I remember reading that but it maybe a stretch to assume that Deerfield is currently planning to convert more principle into shares in the very near term. They would have to hold the average price at or below $3.25 for three days in order to convert at $3.25. I would think if they wanted more equity for debt now, they would have gotten it.
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Post by peppy on Oct 23, 2017 17:05:57 GMT -5
I’m confused by your 3 day average comment. Correct me if I’m wrong, but Deerfield is not buying any shares, they are taking shares as compensation. How does a lower average price over the last three days mean anything in this case? From the agreement (see page one of this thread): Specifically, the Facility Agreement was amended and restated to provide that Deerfield may convert principal due from time to time into an aggregate of up to 4,000,000 shares of MannKind's common stock. The conversion price will be the greater of (i) the average of the volume weighted average price per share of the common stock for the three trading day period immediately preceding the date of any election by Deerfield to convert principal amounts and (ii) $3.25 per share, subject to adjustment under certain circumstances described in the notes. Any conversions of principal by Deerfield under the Facility Agreement will be applied first to reduce the October Payment, and after the October Payment has been satisfied, to reduce other principal payments due under the notes. Read more: mnkd.proboards.com/thread/8940/mannkind-restructures-deerfield-debt#ixzz4wN0b9y68janet just gave us the Deerfield price, I was wondering what it was.. $3.25 per share,
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Post by straightly on Oct 23, 2017 17:13:31 GMT -5
Why do I get the feeling that the stock is currently being driven down so that Deerfield can get the best possible price out of that 3-day average. Note that thursday was also quite the low day. I expect to see a rebound tomorrow Putting my money where my mouth is and increased my share count by another 5%, although I think I missed the bottom by .01c and got them at $3.74. I can live with that We'll see what tomorrow brings. Maybe I'm just a closet conspiracy theorist I’m confused by your 3 day average comment. Correct me if I’m wrong, but Deerfield is not buying any shares, they are taking shares as compensation. How does a lower average price over the last three days mean anything in this case? That average is what Deerfield will pay to acquire their shares. The conspiracy theory goes that say they will be buying on Friday. If they sell short, say at $4, and drive down the price to $3.75, then they will buy shares later at $3.75, which they can use to cover their short position.
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Post by straightly on Oct 23, 2017 17:21:38 GMT -5
I’m confused by your 3 day average comment. Correct me if I’m wrong, but Deerfield is not buying any shares, they are taking shares as compensation. How does a lower average price over the last three days mean anything in this case? That average is what Deerfield will pay to acquire their shares. The conspiracy theory goes that say they will be buying on Friday. If they sell short, say at $4, and drive down the price to $3.75, then they will buy shares later at $3.75, which they can use to cover their short position. Btw, this is EXACTLY the reasons I hated these "special" negotiated deals and preferred straightly dillution: these deals end with dillutions nonetheless, plus the potential of shareholders getting sxxxwed until the dillution is done. Haven't yet see a case when the shareholder or the company managed to escape the bullet. In this case, MNKD might not have a better choice and had to take it.
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Post by boca1girl on Oct 23, 2017 17:26:15 GMT -5
I’m confused by your 3 day average comment. Correct me if I’m wrong, but Deerfield is not buying any shares, they are taking shares as compensation. How does a lower average price over the last three days mean anything in this case? That average is what Deerfield will pay to acquire their shares. The conspiracy theory goes that say they will be buying on Friday. If they sell short, say at $4, and drive down the price to $3.75, then they will buy shares later at $3.75, which they can use to cover their short position. Oh, the conspiracy theory... The shares Deerfield took yesterday works out to be approximately $4.11. “Exchanged senior convertible notes in the amount of approximately $27.7 million due August 2018 for senior convertible notes in the amount of approximately $23.7 million due October 2021 and 973,236 shares of common stock.” If the theory says they will buy on Friday, we should have more down days through Thursday to try to bring the 3 day average to $3.25. FYI... I don’t buy into the theory. I think Deerfield wants the stock price moving up since they keep accepting stock instead of cash or debt.
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Post by agedhippie on Oct 23, 2017 17:48:14 GMT -5
thought this was interesting provision where Deerfield cannot sell the notes to big pharma companies. Assignment . The Holder may sell, transfer, assign, pledge, hypothecate or otherwise dispose of this Note, in whole or in part; provided that (i) the Holder shall deliver a written notice to the Company, substantially in the form of the Assignment attached hereto as Exhibit B , indicating the Person or Persons to whom the Note shall be assigned and the respective principal amount of the Note to be assigned to each assignee, (ii) the transferee shall have complied with Section 2.5(d) of the Facility Agreement, and (iii) unless an Event of Default shall have occurred and is continuing, no assignment shall be permitted to any (A) Major Pharmaceutical Company or any (B) entity principally engaged in the business of selling insulin or insulin delivery products
Major Pharmaceutical Company ” means any Person engaged in the pharmaceutical or biotechnology industry which, for the immediately preceding fiscal year, had total revenues in excess of $2,000,000,000 (or its equivalent in another currency). In other words,,, you cant sell to anybody that has not accepted our selling price Slight correction - "you can't sell directly to anybody that has not accepted our selling price" You could sell to Goldman (or any other passing bank) who would take the shares onto their books and then sell them to absolutely anyone. This is what bank trading desks do for their living - by and sell stock.
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