Believe me I'm a bull and still have my long shares (unfortunately at this point), but I pointed out that once the ATM was announced and they failed to raise the money they needed out of the Tel Aviv stock market it was a huge problem.
I sold a stock PPHM at $1.44 and had 25K shares and waited to long after they announced a preferred stock with a 11% dividend and then a big increase in the ATM shares. I was thankful as it tanked under $1 where I picked back up 10K shares, but its at $1.21 and can't get out of its own way. Every move up and they dump more shares to raise money. They are in a Phase III study have partnerships with Astra Zeneca and BMY, but again its being diluted weekly and maybe even daily.
MNKD in a big pickle right now and SNY knows it as well as other BP's, so I don't know what they can do at this point. My pharmacist in a city of 100K people says he knows the product, but doesn't have one patient. We are about 25 miles outside of Boston, so I was surprised at no real coverage. You would think the big metropolitan areas would be covered, but it seems the entire roll out is so sporadic and barely covers a few key markets.
I get the labeling and insurance issue needs to be addressed, but where is the commitment from SNY at this point? Plus MNKD seems to have lock jaw and either can't say anything or have nothing to say. I hope its the former and not the latter.
Well I'm still in the boat, but we are surely taking on water.
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