Could it be possible that the most important factor to help explain current pps is the up coming exercise of the Nov stock warrants? Think about it if shorts can drive the pps below the exercise price it would deny MNKD a sizable amount of cash for working capital. Which means more financing and further lowering of pps. The short would then claim victory.
Shorts never mention the upcoming dilution. I can see them sitting on some FUD articles with titles like "Shocking Dilution at Mannkind" or "Management Socks It To Investors" or something stupid like that. Even though it has been known since last October, It's the only negative they have left and they haven't mentioned it lately. Hmmmm. wonder why.