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Post by wgreystone on Apr 6, 2018 9:17:07 GMT -5
Through owning several small biotech companies, I noticed they always raise some money before nailing down some deals. One example is ATHX last year. While the stock price was at $1.5, it raised some money (not a lot) at $1. Now SP is around $1.9. In the end, what matters is the script count. 20% dilution will not impact much on the future stock price of MNKD.
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Post by kball on Apr 6, 2018 9:23:08 GMT -5
I've been slowly trying to cut my losses in the stock over the last few months, and in hindsight, I'm glad I did, even if it cost me several tens of thousands of dollars. Or as i call them...THE LUCKY ONES
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Post by awesomo on Apr 6, 2018 9:24:05 GMT -5
Through owning several small biotech companies, I noticed they always raise some money before nailing down some deals. One example is ATHX last year. While the stock price was at $1.5, it raised some money (not a lot) at $1. Now SP is around $1.9. In the end, what matters is the script count. 20% dilution will not impact much on the future stock price of MNKD. The majority however perpetually dilute. Yeah, 20% dilution may not impact much if you’re assuming it’s all upwards from here. However, the team has lost a lot of goodwill by this blindside dilution at a crap PPS and it seems much more likely now of them doing this again in the future.
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Post by sportsrancho on Apr 6, 2018 9:26:30 GMT -5
So the additional approved shares were not approved for partnerships? I dislike saying it, it looks like Mike C lied regarding that. I know there backs were against the wall, that was the last shareholders meeting. Additionally, why would a shareholders meeting have a time limit, they work for us. Answer our questions. Every one of them. Absolutely and if the questions run past midnight, tough shit. He gets paid every two weeks a nice chunk of change to deliver and all of you can determine what we have and have not received for our money. To be fair, I would give him a few more months to see if: Rx counts grow like he said and if the two deals get done and bring in cash. If the deals don't get done and the STAT study is poor, its over. Conversely, if the cash coming in from the deals is north of $40mm and the STAT study rocks, we could be off to the races. Again if the two deals don't get done by the shareholders meeting and Rx counts flounder, nothing wrong with asking him why and repeatedly asking him (screaming at him if need be) why. Diplomacy only goes so far and sometimes, one has to be a complete motherFxxxer and its nothing personal, its just business. Good post, see you at the meeting!
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Post by hellodolly on Apr 6, 2018 9:26:42 GMT -5
Please give me my Market limit order at $1.75.
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Post by standup on Apr 6, 2018 9:53:29 GMT -5
So the additional approved shares were not approved for partnerships? I dislike saying it, it looks like Mike C lied regarding that. I know there backs were against the wall, that was the last shareholders meeting. Additionally, why would a shareholders meeting have a time limit, they work for us. Answer our questions. Every one of them. Absolutely and if the questions run past midnight, tough shit. He gets paid every two weeks a nice chunk of change to deliver and all of you can determine what we have and have not received for our money. To be fair, I would give him a few more months to see if: Rx counts grow like he said and if the two deals get done and bring in cash. If the deals don't get done and the STAT study is poor, its over. Conversely, if the cash coming in from the deals is north of $40mm and the STAT study rocks, we could be off to the races. Again if the two deals don't get done by the shareholders meeting and Rx counts flounder, nothing wrong with asking him why and repeatedly asking him (screaming at him if need be) why. Diplomacy only goes so far and sometimes, one has to be a complete motherFxxxer and its nothing personal, its just business. The timing of this deal makes me doubt both the term sheets and the STAT study. If these were favorable events to occur in the not too distant future why do this offering now and at this price? People get excited over a weekly 500 script count. Are you kidding me? WTF, if you really think about it 500 is a tiny amount for the length of time this drug has been on the market and the size of the market. I have violated every single one of my investment rules with this "story" stock.
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Post by ilovekauai on Apr 6, 2018 10:09:47 GMT -5
I can’t believe management did this on a Friday no less when script counts come out. What the hell were they thinking???
First they take over close to 100K shares from me in the r/s from a year or so ago, now they do this for a paltry $30M tells me this company is desperate for cash. And, we got a top-heavy management team that is costing a boat load and their answer is more dilution??? I’m furious right now.
I want to ask at the meeting, when is MNKD going to do f/s and return my stolen shares? Btw, I voted no on that stock authorization. That's why we got this today.
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Post by agedhippie on Apr 6, 2018 10:13:47 GMT -5
I can’t believe management did this on a Friday no less when script counts come out. What the hell were they thinking??? First they take over close to 100K shares from me in the r/s from a year or so ago, now they do this for a paltry $30M tells me this company is desperate for cash. And, we got a top-heavy management team that is costing a boat load and their answer is more dilution??? I’m furious right now. I want to ask at the meeting, when is MNKD going to do f/s and return my stolen shares? Btw, I voted no on that stock authorization. That's why we got this today. If you think a reverse split takes shares away from you then you probably shouldn't be investing in equities.
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Post by ilovekauai on Apr 6, 2018 10:17:55 GMT -5
Really AG? Not asking for your advice, so go fly a kite. The day that MNKD prevails and it will, please lecture me again. I'm angry and venting right now so leave me alone.
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Post by compound26 on Apr 6, 2018 10:19:08 GMT -5
This is not in defense of the management's decision to make a direct offer at $2 right now. However, I do not believe that the recent market action may have played a factor for the management's decision to pull the trigger to raise some money right now. By my estimate, Mannkind has about $25 million as of March 31, which means a runway until June 30. However, the market has been very volatile recently. So there is a risk that the market may shut down for Mannkind (i.e., in the sense that Mannkind's shares suddenly drops to below $1 again or the capital market just becomes in practice inaccessible for a while for small biotech companies). Additionally, Management will need to have some money in the bank to show to the sales representatives that they will still have salaries and bonus in the coming months. And the sale representatives will also need to have assurance that the company will have enough financial stability at least in the near future so that they will have more confidence to do their sales pitches to the doctors.
So all in all, given the situation (both micro and macro) we are in, this capital raise, though not at ideal price, is acceptable to me.
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Post by Deleted on Apr 6, 2018 10:23:07 GMT -5
ilovekauai MannKind needs time for scripts to rise and TreT to demonstrate safety and efficacy. Their only option is to sell shares at rock bottom prices; I would not be surprised if MannKind sells all 280 million authorized shares before we see upward share prices. Given the choice of turning out the lights and locking the doors, or dilution, I will take the latter.
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Post by ilovekauai on Apr 6, 2018 10:23:12 GMT -5
Who is managing this sales team? Anyone know?
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Post by ilovekauai on Apr 6, 2018 10:25:38 GMT -5
I know Kantanes. It was just a shock to awaken to is all. I was not expecting this and angered over like a shrimp boil on the beach. Thanks.
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Post by #NoMoreNeedles on Apr 6, 2018 10:26:59 GMT -5
Mike said they would sell the additional 140M shares over a time period of 3-5 years.
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Post by peppy on Apr 6, 2018 10:29:19 GMT -5
Who is managing this sales team? Anyone know? we got a new sales manager prior to the retraining the team just went through is the story I believe I have read.
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