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Filed: January 25, 2012
62 months ago Mannkind developed something new. It has horrible sales, and most people who try it, dump it.
Mannkind has vastly cut its R&D budget, so the chances of them developing another drug, even a spectacularly unsuccessful one like Afrezza, are low.
Nobody believes that.
Retinopathy isn't curable. Afrezza doesn't dramatically lower blood pressure.
If someone could save their vision they wouldn't be worried about insurance.
Mannkind spent 100s of millions on FDA trials attempting to prove they weren't worse than the alternatives. They were barely able to do that after over a decade of work.
One clue that you can look at is that it's perfectly legal for a doctor/pharmacist who knows how well Afrezza is working/selling to trade on that information. So far, no news of any interest.
This thread was on the front-page @ proboards when Sanofi dumped Mannkind:
Why Sanofi's Marketing Strategy is Brilliant
Now investors have one conspiracy theory after another to cover-up the fact that they bought overpriced shares from shorts who are now very rich.
The article could not be more clear.
That $150 million upfront indicates a lack of interest
Sanofi never gave Mannkind 925 million.
Since Sanofi dumped Mannkind, Afrezza sales have fallen.
Ever since the FDA trial where over 30% of the people dropped out, and didn't want to continue using free Afrezza, it's been obvious that Afrezza was a huge money-losing scam.
It is a rare person who tries Afrezza and decides to continue using it.
As if George doesn't have enough other ways to enrich himself.
If he's not selling the company's ships to other companies he controls he's writing himself a literal blank check. From the latest quarterly filing.
Blank Check Preferred Stock
Under the terms of our Amended and Restated Articles of Incorporation, our board of directors has authority, without any further vote or action by our shareholders, to issue up to 500,000,000 shares of blank check preferred stock, of which 100,000,000 of these shares have been designated as Series A Convertible Preferred Stock 10,000,000 of these shares have been designated as Series A Participating Preferred Stock and 100,000,000 of those have been designated as Series B Convertible Preferred Stock, 10,000 shares designated as Series C Convertible Preferred stock, 3,500,000 shares designated as Series D Preferred stock, 50,000 shares have been designated as Series E-1 Convertible Preferred Stock, and 50,000 shares have been designated as Series E-2 Convertible Preferred Stock. As of March 10, 2017, there were 29,166 shares of Series D Preferred Stock (3,500,000 shares of Series D Preferred Stock before the 1-for-15 and 1-for-8 reverse stock split) outstanding. Our board of directors may issue shares of preferred stock on terms calculated to discourage, delay or prevent a change of control of our company or the removal of our management.
I agree that a bunch of blithering idiots sold their shares without taking their time to realize that this is a routine filing that enables flexibility to conduct major deals, and that this ability existed last week as well.
Why can't investors realize what a gem this company is?
Just because they lost over 3 billion dollars in the last two years is no reason to think they won't be making big profits this year.
Most likely the one dollar warrants are to allow them to short lots of calls with a one dollar exercise price.
The option premiums would be 100% profit.
5 dollar options are almost worthless, but one dollar options still have some value.
A short position here or on any shipper is suicide at the moment.
How about shorting a stock that's been selling its stock as fast as possible for over a decade?
That has to be a good idea!
Your advisors have no idea what they're talking about.
Investors commonly buy stocks that are not listed anywhere -- not even tradeable on the pink sheets. It also doesn't explain why no one wanted to buy before it was delisted a few months ago.
Market booming for unlisted stocks.
http://blogs.wsj.com/briefly/2015/03/27/5-things-to-know-about-pre-ipo-stocks/
It's much cheaper to register directly with Pacer.
https://pacer.psc.uscourts.gov/pscof/regWizard.jsf
I haven't used my account in 9 years, and it's expired.
TVIX down 3.2%.
April futures down 1.35%.
March futures down 2.3%.
Mostly set to track April, but still a little March.
Doing a great job tracking what it's supposed to be tracking.
Thx for the link.
They're the blaming the bad quarter on one person passing on. Unbelievable!?
And then finally, just before we exit the slide, there’s a couple of things you don’t see in the data, which didn’t happen in 2016. First, our big prescribers that really loved Afrezza did not come back on Board. And in fact, one of them passed away unfortunately, and that did hurt the Q4 performance. When we expected a certain amount of prescribers to come on Board and we did our forecast, we went back to them and said, what’s going on? What happened? We know you like the drug, you had a good history of prescribing.
Not too much interesting news from the latest earnings report. A couple items of note.
1. R&D expense dropped from 3.917 million dollars to 1.559 million dollars.
2. Afrezza is still being sold at loss.
Cost of goods was 1.553 million dollars.
Revenue from Afrezza sales was 1.322 million dollars.
Mannkind wrote off the value of almost everything to zero in 2015. That's why they can sell a building for less than they paid, and still book a profit. But that won't last forever. The fact that they're selling things at a loss means earnings are going to look bad going forward.
Still in waiting mode for the coming dilution.
Preferred stock never gets anything in bankruptcies.
Preferred stock gets paid before common stock.
From my experience, which is admittedly limited in Q stocks, preferreds usually get a stake in the reorganized company
Preferred stock (also called preferred shares, preference shares or simply preferreds) is a type of stock which may have any combination of features not possessed by common stock including properties of both an equity and a debt instrument, and is generally considered a hybrid instrument.
which will settle debts thru new terms.
Those terms will involve the debtors owning 100% of the company.
The debtors aren't going to suddenly become generous and give away their right to the company.
Would you be generous? If Sunedison wasn't a turd that went bankrupt and instead made lots of money would you be okay if the company randomly gave earnings to the debtors instead of the stockholders?
They pretend to be ahead of the curve, but the latest data shows inflation spiking >0.5% and real yields are still negative.
Today interest rates plummeted as the Federal Reserve announced they saw no serious inflation coming.
No inflation means interest rates aren't going to continue to raise means good news for gold.
It's a good thing your wish for inflation didn't come true.
The Federal Funds rate has nothing directly to do with the interest rate our Treasury pays on its debt.
Most loans at the Fed Funds rate last one day, and are indeed paid back.
In England they go out of their way to help people who have trouble understanding. They call it the London Interbank Offered Rate.
How the hell are they going to pay the interest on the debt if they raise rates?
The Federal Reserve isn't in change of paying interest on debt. The Federal Reserve's job is to facilitate transferring money between banks --- specifically on an overnight basis.
There's nothing nefarious about one bank having excess money (because there's a shortage of borrowers) and another bank having a shortage of money (because there's an excess of borrowers).
Now the bank with extra money and no one wanting to borrow will get a slightly higher interest rate.
It's very important to understand that common shareholders won't be part of any negotiation. Why? Because they have nothing to negotiate with. They're not entitled to anything at all.
Bondholders, and every other debtor, are entitled to get paid every cent they're owed.
That's the law.
If the bondholders don't get paid 1 dollar for every bond currently trading at 3 cents, they aren't going to agree to give common shares anything.
That's precisely how bankruptcy works. They're not going to be generous, and give away money.
Nothing in there says that people who buy worthless stock are going to get one penny before all the debts are satisfied.
This stock is absolutely worthless.
It really is that simple. When you're in bankruptcy you have to pay 100% of your debts before anyone else gets a penny. SunEdison doesn't come close to having enough money to pay what it owes.
NWBO still crashing based on the toxic financing from Friday.
NWBO is postponing paying 0.5 million by 0.5 months.
NWBO is postponing paying 2.0 million by 1.0 months.
NWBO is postponing paying 2.5 million by 2.0 months.
NWBO is postponing paying 5.5 million by 3.0 months.
And they're paying 1.5 million in stock to do that.
Multiply out the million-months and you get 21.34.
Convert to years and you get 1.78.
So they're paying 1.5/1.78 which is an effective interest rate of 85%.
I'm beginning to doubt that NWBO's financial condition is too strong.
That devil won't die easily, next week should end in the green as the possibility to default on it's debt has been pushed years away.
This is the link I use to follow Valeant's bond prices. Prices have been rising for quite a while. The market doesn't appear to have the slightest concern of any default incident. On the contrary, yields have been trending down, while Valeant's stock has been under-performing.
http://finra-markets.morningstar.com/BondCenter/BondDetail.jsp?symbol=VRX.GQ&ticker=C541641
This is the funniest quote from the article given that Exubera was a colossal failure, costing over a billion dollars, but still had higher sales than Afrezza.
Dr. Nidal Hasan says insulin inhalers have been around before, but not with much success. He believes it's the improved delivery system and the fast acting insulin powder made up of micro particles that make this a good option for both Type 1 and Type 2 diabetes patients.
Is the phrase "sh-t happens." allowed on iHub?
I imagine it's like driving 33 in a 30 zone. Sometimes something bad happens (and you get a ticket), and sometimes nobody cares.
But driving 33 doesn't get you there much faster and it's just as easy to say stuff happens. So why bother trying to see how close you can get to irritating the moderators?
March 29th of last year it became obvious that the stock was absolutely worthless and that eventually all 300 million shares wouldn't have a total value of as much as a penny.
The stock only fell from 1.26 to 57 cents that day. There's no law keeping people from buying worthless things.
Lots of people fantasize about finding a 9 cent stock that will go to 1.26 but first they should learn to recognize the reverse. It's very very easy to do.
http://fortune.com/2016/03/29/sunedison-risk-bankruptcy
If you or anyone else wants to get of the underlining just use a blank bold tag like this: pr[b][/b]ice. It'll show up like this price instead of this price.
Buys are trades at the offer.
Sells are trades at the bid.
? are trades in the middle.
TVIX is an etn. It trades based on the value of what it owns.
It reverse splits periodically because it's designed to go down forever.
It costs about 1200 dollars an ounce to produce gold why would it drop further
Why would someone buy a junior miner knowing it'll have difficulty breaking even at current gold prices, and knowing its (borrowing) costs are going up?
A small amount of inflation doesn't raise the price of a worldwide commodity like gold. Why would someone in China spend more for gold because the price of milk is going up in St. Louis?
But rising short-term rates pushes the dollar higher which means a certain amount of dollars buys more gold.
Happy Days are over for Mannkind investors. So far they've been able to rely on asset sales, loans, money from Sanofi, etc.
But massive dilution is coming soon. Dilution wouldn't be a problem if the shares didn't fall. 10% of no profits is no worse than 100% of no profits, but dilution inevitably means heavy selling and buyers only arriving with a sharply lower stock price.
You put your finger on an important piece of information.
Rising prices, equals higher corporate profits, equals a rising stock market, equals a rising dollar, equals falling gold prices.
who are basically buying high and selling low.
The people who find lousy companies and buy low and sell high, do it in the reverse order. They short high, and then buy back low later. They're called shorts. They're the ones that are *HAPPY* to sell you shares at 3.33.
They're wouldn't be any shorts, if there weren't people paying way too much for stock in rotten companies with dishonest management.
In general reverse splits for ETFs are totally meaningless. If anything, they're a positive, because if the bid/ask spread is one cent, it's a smaller percentage of the cost of your shares.
There is zero reason to fear a reverse split here.
Gold futures close at 1:30pm. Gold is still, slightly, up since then, but way down from 4pm Friday.
https://www.metalprices.com/introduction/comex_hours.htm