An stock without any liquidity has questionable financial viability. Its that simple and even with $80 million in the bank these guys can chew thru that number in 6-12 months with 150 sites, salaries, expansion and other trials.
Financial viability is always an issue and trading volume is one indicator, if that $300+ million market cap is for real. People and the few institutions that own this stock start liquidating and you have a sub $1 entity. Try running the ATM at those levels.
The biggest problem with MNKD is they have FDA approval, but no partner and have cash concerns after all they have spent and diluted shareholders. Great product for diabetics and being able to inhale your insulin, but distribution, marketing, manufacturing and adoption alone can take another $500 million to a $1 billion.
PPHM thinks they can keep diluting shareholders and issuing preferred shares to raise capital. Guess what that program will be coming to an end quickly, if this stock doesn't start rising on some decent volume. PPHM should be giving up 10% -20% of the company for $100 million right now. Instant market credibility and you still own the show. It would establish a market cap somewhere between $500 million and $1 billion, while shutting down the nonsense of this constant ATM and high interest preferred. They also could start a new series of trials.
Yes stock price, trading volume, liquidity and financial viability does matter to the FDA. Right now one misstep and with this illiquid stock you wouldn't get out the door with the sell orders.
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