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Post by mnkdfann on Apr 28, 2020 15:15:49 GMT -5
$500 billion bailout plan for large companies has no requirements to preserve jobs or limit executive pay
The Federal Reserve’s coronavirus aid program lacks restrictions Congress placed on companies seeking financial help under other programs.
So, large companies have better lobbyists? Actually, that story is behind a paywall and I can only read the first couple of paragraphs. Are details of the new plan for large companies finalised or a work in progress?
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Post by mnkdfann on Apr 25, 2020 22:19:14 GMT -5
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Post by mnkdfann on Apr 25, 2020 20:26:07 GMT -5
www.healthline.com/diabetesmine/inhaled-insulin-coronavirus#new-aerami-inhaled-insulin"Is Inhaled Insulin Safe During the COVID-19 Outbreak?" Had a number of details I was unaware of: -- currently have a user base of 6,000 to 7,000 individuals, half with type 1 diabetes and half with type 2. -- 20 percent of their users are on Medicare, so presumed older; and 80 percent are on Medicaid or private insurance, -- shifting almost 100 percent of their energy towards the type 1 market, a decision that was made in January 2020. -- Castagna points out that they now have 20 to 30 people on staff who live with type 1 diabetes themselves. -- their CoverMyMeds program has been quite effective. -- As far as COVID-19 concerns go, Castagna adds: ”We’ve had zero calls as of last week from HCPs (healthcare providers) on this issue That was actually an informative interview. I learned more there than in some of the Mannkind AGM / Earnings calls.
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Post by mnkdfann on Apr 25, 2020 20:20:34 GMT -5
MannKind is in massive debt and does not churn a profit, but they have a life-saving medical product that many people with diabetes depends on. I say MannKind is more than justified for the PPP Loan and needs it. Unfortunately, taking the PPP money sends a poor message to doctors who might be investigating whether to prescribe Afrezza for the first time to their patients. I remember some people on this forum claimed a few years back that reps from other Pharma companies were telling doctors and endos that Mannkind was in poor financial straits (in order to dissuade doctors from prescribing Afrezza, i.e. why prescribe it if it may not be on the market much longer). Now Mannkind is very publicly doing this on its own.
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Post by mnkdfann on Apr 25, 2020 20:08:32 GMT -5
Mannkind is getting crucified on Twitter! I noticed that yesterday, but really it's not so many people. Less than a dozen. Luckily no one (relatively speaking) follows Mannkind on twitter, so there is near zero chance of this protest going viral.
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Post by mnkdfann on Apr 23, 2020 13:33:16 GMT -5
Here is the updated guidance, in case anyone wants to see the whole thing. In particular, the above is from Question 31. home.treasury.gov/system/files/136/Paycheck-Protection-Program-Frequently-Asked-Questions.pdf31. Question: Do businesses owned by large companies with adequate sources of liquidity to support the business’s ongoing operations qualify for a PPP loan? Answer: In addition to reviewing applicable affiliation rules to determine eligibility, all borrowers must assess their economic need for a PPP loan under the standard established by the CARES Act and the PPP regulations at the time of the loan application. Although the CARES Act suspends the ordinary requirement that borrowers must be unable to obtain credit elsewhere (as defined in section 3(h) of the Small Business Act), borrowers still must certify in good faith that their PPP loan request is necessary. Specifically, before submitting a PPP application, all borrowers should review carefully the required certification that “[c]urrent economic uncertainty makes this loan request necessary to support the ongoing operations of the Applicant.” Borrowers must make this certification in good faith, taking into account their current business activity and their ability to access other sources of liquidity sufficient to support their ongoing operations in a manner that is not significantly detrimental to the business. For example, it is unlikely that a public company with substantial market value and access to capital markets will be able to make the required certification in good faith, and such a company should be prepared to demonstrate to SBA, upon request, the basis for its certification. Lenders may rely on a borrower’s certification regarding the necessity of the loan request. Any borrower that applied for a PPP loan prior to the issuance of this guidance and repays the loan in full by May 7, 2020 will be deemed by SBA to have made the required certification in good faith. Are you saying MannKind doesn't need the PPP Loan? I think matt summed it up nicely a page or two back concerning why MannKind is justified for the Loan. I'm not really 'saying' anything; I merely provided today's updated guidance, to give context to what celo quoted earlier. Whatever matt wrote was days before today's updated guidance note came out. It may still be applicable, but that's not really my call and in any case I've no strong opinion one way or the other about that.
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Post by mnkdfann on Apr 23, 2020 12:56:54 GMT -5
I would anticipate this applies to Mannkind: "Any borrower that applied for a PPP loan prior to the issuance of this guidance and repays the loan in full by May 7, 2020 will be deemed by SBA to have made the required certification in good faith,” the SBA said. Here is the updated guidance, in case anyone wants to see the whole thing. In particular, the above is from Question 31. home.treasury.gov/system/files/136/Paycheck-Protection-Program-Frequently-Asked-Questions.pdf31. Question: Do businesses owned by large companies with adequate sources of liquidity to support the business’s ongoing operations qualify for a PPP loan? Answer: In addition to reviewing applicable affiliation rules to determine eligibility, all borrowers must assess their economic need for a PPP loan under the standard established by the CARES Act and the PPP regulations at the time of the loan application. Although the CARES Act suspends the ordinary requirement that borrowers must be unable to obtain credit elsewhere (as defined in section 3(h) of the Small Business Act), borrowers still must certify in good faith that their PPP loan request is necessary. Specifically, before submitting a PPP application, all borrowers should review carefully the required certification that “[c]urrent economic uncertainty makes this loan request necessary to support the ongoing operations of the Applicant.” Borrowers must make this certification in good faith, taking into account their current business activity and their ability to access other sources of liquidity sufficient to support their ongoing operations in a manner that is not significantly detrimental to the business. For example, it is unlikely that a public company with substantial market value and access to capital markets will be able to make the required certification in good faith, and such a company should be prepared to demonstrate to SBA, upon request, the basis for its certification. Lenders may rely on a borrower’s certification regarding the necessity of the loan request. Any borrower that applied for a PPP loan prior to the issuance of this guidance and repays the loan in full by May 7, 2020 will be deemed by SBA to have made the required certification in good faith.
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Post by mnkdfann on Apr 21, 2020 17:23:05 GMT -5
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Post by mnkdfann on Apr 21, 2020 11:38:43 GMT -5
I'm beginning to think they should rename the company "MannBtfsplk." Is that an allusion to Mister Mxyzptlk? Insomuch as Mannkind torments its investors in the same way Mxyzptlk does Superman?
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Post by mnkdfann on Apr 21, 2020 10:16:22 GMT -5
Not just on the list, but near the very top!
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Post by mnkdfann on Apr 13, 2020 17:12:00 GMT -5
Well, the AGM is coming up next month, along with the approval of the new shares. Arguably to be followed soon after by some financing deal and a sale of shares and warrants to some party. Would that party already have been selected, and would they know it is in their interest to run the SP up over the next month or two? So, my vote is for the price action having to do with manipulation with a future financing deal as being the underlying cause. The warrant buyer wants to be able to short from an inflated price level. So maybe we see a really nice run over the next month or two.
Obviously only my opinion, and I don't really know much about how these financings get done. I'm just guessing.
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Post by mnkdfann on Apr 10, 2020 22:45:00 GMT -5
After reading Sched 14A that is to be voted on by Shareholders at the Annual Mtg of Shareholders on May 21, 2020. It seems very wrong that that MNKD and its BOD have agreed and recommend the following: PROPOSAL 1 - Election of Directors -Kent Kresa (1)(2) Age 82 Chairman of the Board of Directors -Michael E. Castagna, Pharm.D. Age 43 Chief Executive Officer and Director -Ronald J. Consiglio(2)(3) Age 76 Director -Michael A. Friedman, M.D.(1)(2) Age 76 Director -Jennifer Grancio(3) Age 48 Director -Anthony Hooper(3) Age 65 Director -Christine Mundkur(3) Age 51 Director -James S. Shannon, M.D., MRCP (UK)(1) Age 63 Director (1) Member of the Compensation Committee. (2) Member of the Nominating and Corporate Governance Committee. (3) Member of the Audit Committee.If this was discussed elsewhere I missed it, but I guess this means that none of the individuals Hope for Mannkind nominated were accepted as candidates?
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Post by mnkdfann on Apr 10, 2020 16:26:03 GMT -5
The giveaway is the normal glucose level. You cannot develop DKA at that level. I am extremely surprised this got published.The lead author is a member of the Journal's Editorial Board, but I'm sure that had nothing to do with it. Disclosures. David S. H. Bell is on the Speaker’s bureau of Novo-Nordisk and Mannkind Corporation. David S.H. Bell is a member of the journal’s Editorial Board.
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Post by mnkdfann on Apr 10, 2020 11:58:31 GMT -5
Just out of curiosity, I ran the numbers using the market cap figures I found on Yahoo Finance for those ETFs / funds, and together they apparently hold $66,327,276 of MNKD. Or, about 30% of Mannkind's overall market cap. That is...a lot Is that a normal amount? How much do they hold of a similar size company, like maybe one of the ones MannKind uses to compare themselves to when configuring compensations (listed in their filings) etc... I'm very sorry to say I made some errors in my calculations. I used the market cap for IWV (8.23B) in place of IWC (562M) by mistake, and for BTEC I mistook M (million) for B (billion). The revised total is only $3,788,246 of MNKD. That's less than 2% of Mannkind's market cap. I hope I have it correct this time, but I invite anyone to double check. In my defense, I am only human, and I might possibly have been inebriated when I did my calculations yesterday.
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Post by mnkdfann on Apr 9, 2020 23:45:49 GMT -5
Found this in the MannKind section on the Schwab website. Notice that BlackRock holds small amounts of MNKD stock in three of its iShares ETFs and Vanguard holds a small amount in VFLO, even though MannKind is hardly a Mid-Cap company. As a result, many iShares and Vanguard investors hold tiny amounts themselves, probably without knowing it. Just out of curiosity, I ran the numbers using the market cap figures I found on Yahoo Finance for those ETFs / funds, and together they apparently hold $66,327,276 of MNKD. Or, about 30% of Mannkind's overall market cap.
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