MannKind Corp. (MNKD)

[exwannabe]

Re: Insulin Put

When under the SNY partnership, MNKD would manufacture Afrezza for SNY to sell. That required MNKD to buy insulin, so they committed to a multi year contract for purchase of it.

Well, they obviously need very little now, and have been stockpiling it for a year or more. So as part of the break up agreement, SNY has agreed to buy that insulin off of MNKD. SNY obviously can put it to real use.

Do not know if the cash is hard, or just an offset against the debt owed to SNY.