Say what, Spencer:
"I had stated that given the stock price action in recent weeks, it was my belief that the company had been tapping the ATM facility during Q2. With the data now in hand, we can see that this was not the case. The concern with that is two-fold: 1) while tapping the facility means dilution, seeing that the price action was bad without that selling pressure is concerning, 2) the company is now in a more precarious position because of its lack of cash, and it could have been in a less precarious position had it raised even a few million dollars during the quarter....
...MannKind is down to its last gallon of gas and the only filling station for 200 miles charges a pretty penny for petrol. Afrezza sales are not ramping at the triple digit rate that the company wanted investors to look at in the year over year numbers. Guidance still requires a second half hockey stick in terms of growth and the 15% of the second half is already gone with another 15% having holidays. MannKind has broken below its old trading range and will establish a new one. The stock is now flirting with $1 per share, and that could get very ugly."
Could get very ugly? LOL! It couldn't get much more ugly if it tried! Well, short of bankruptcy, of course.
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