poondizzy, exclusive just for Afrezza. Are you able to read the press release as well as SEC filings?
opc11, you are incorrect. I posted the change of control language used in the agreement. They have no right of refusal for a buyout of the company.
Should MNKD receive a buyout offer, or should MNKD solicit a buyout offer from a buyer, Sanofi does not have any right of first refusal. In the 10-Q from 8/11/14 this is the relevant language that applies. "In addition, if our board of directors determines to pursue a change of control of MannKind, we will be required [to] notify Sanofi of such determination within a certain period of time so that Sanofi may, at is discretion, negotiate with us for a potential acquisition of MannKind by Sanofi." All that means is that Sanofi will have a chance to negotiate an offer should another offer be on the table or contemplated. It will be open season.
charles_lacy2003, this is absolutely not true. Sanofi does not have any right of first refusal on any buyout offer for MNKD. I located the pertinent language in the 10-Q, and I will paste the relevant language in a separate post titled Change of Control. MNKD is only required to notify Sanofi of a contemplated change of control so that Sanofi, at its discretion, may negotiate for a potential acquisition of MNKD. There is nothing so onerous as a right of first refusal in the deal language.
kevinmik, yes, I guessed right. I just read from the patent you posted. Directly in the 1st summary paragraph below the claims, it states, "Powders made with the present microparticles can deliver increased drug content in lesser amounts of powder dose, which can facilitate drug delivery to a patient." The new process allows more insulin concentration, in Afrezza's case, to be adsorbed on the Technosphere powder. So a patient would be able to inhale less powder for a given dose of insulin, and it would save MNKD money because it would use less chemicals per Afrezza cartridge.
kevinmik, I posted a comment about this patent in another thread in which you posted this same patent information.
kevinmik, based on just the patent title and the lines of text from this patent, I imagine this new Technosphere process can adsorb insulin in a higher concentration. That can have the desired effects of not only allowing diabetics to inhale less Technosphere per units of insulin, but also offering a product cost reduction of Afrezza due to less Technosphere chemical in a given cartridge dose.
alfredamus, does MC mean marketing cost in your parlance? If yes, how would anyone know that is what you meant?
Cramer was quite clear that MNKD has the best and most aggressive partner for Afrezza. He said specifically that the shorts are going to battle this today, but it might be pyrrhic because now you have the big partner in Sanofi this is a worldwide story...people have to cover is what I'm saying (he said). He said specifically that he means the shorts are going to have to cover. This is a story going from negative into positive. He talked about Tesla as having such a story too.
clevans1, you are correct. The only question is what will be the gross margin on the sale of the Afrezza product to Sanofi. I would assume about 50% or name your figure. The 35%/65% is kind of a standard distribution split that is seen in industry. You realize that MNKD is getting paid the margin for the finished goods (Afrezza) plus it is getting 35% of any profits on Sanofi sales. Quite a deal IMO. Many may not realize this, and clearly the shorts do not want others to realize this.
regenmedprovider, in this same topic/thread you replied to fedupp100 about some of the differences between Afrezza and PFE's old inhaled product. I just want to highlight something you did not include that is really one of the key differences that make Afrezza great and Pfizer's not work as a prandial insulin. Afrezza's Technosphere carrier delivers monomer (single molecule) insulin into the blood stream through the lungs. Pfizer's drug did not, and it was hexamer insulin which is bonded to a zinc ion. In that hexamer form it took a long time for Pfizer's insulin to bounce around and dissolve in the lungs and the blood stream. The human body cannot use hexamer insulin. It needs monomer insulin. This is why Afrezza is so fast to start working in the blood stream.
jboulos174, the size of the peptide molecule or other drug molecule has to be a factor when the carrier dissolves. The molecule cannot be too large or it cannot get into the capillary system of the alveoli.
mangkind, type 1 diabetics like to eat at mealtime too. Don't overlook mealtimes for type 1s and type 2s.
dtrouble1003, I suppose you don't remember Apple Computer when Steve Jobs was there in the early days if you have never seen anything like this.
mannontop2, your shares in an IRA are not marginable, and that makes it impossible for your broker to loan your shares without your explicit permission. Thus you will get a call or an email asking your explicit permission, in writing, to loan out your shares in any of your IRAs. However your shares in your taxable account are likely in a margin account and not a cash account, and that means they almost surely have already been loaned out. Probably long ago.
Just to give you some more color on my broker's offer Thursday to pay me to release my IRA MNKD shares. My broker would have paid me 12% per year for my releasing my MNKD shares. I declined to release my shares. The shorts who want to borrow such shares from this broker would have been charged about 20% per year. The number of shares available to the short sellers has apparently dried up a lot if they are calling me. Also 20% per year is a steep price for a short seller to pay. Are the shorts trying to get some dry powder for Monday?
The MNKD proboard seems so disorganized to me. I go to it, and I have to hunt around quite a while to find the latest posts. Does one have to register before the presentation of posts is chronologically logical? You would think going to the last page would be where the latest posts are, but it's not that way. What are those posts at the bottom doing down there? How do they get promoted to a regular page? I have not broken the code.
I got a call about 30 minutes after Thursday's close from my broker who wanted to tell me of the opportunity for me to make some extra interest money by letting them borrow my tax free account MNKD shares. I have a lot of MNKD shares in both taxable and tax free accounts, and that is why he was calling me. I have never gotten a call from my broker to release shares in a tax free account before, and I have been trading with this broker for more than 15 years. All I can imagine is there are very few or no marginable shares in the wild that shorts can borrow anymore.
I just wonder if this last ditch effort by the hedge funds or other short sellers is being geared up for Monday after or during the earnings call Monday if Al does not satisfy with his announcements.
Of course I declined to release my tax free account MNKD shares to my broker.
It is interesting Amphastar has an agreement with an agency of the Chinese govt. to invest capital in Amphastar's wholly owned subsidiary, Amphastar Nanjing Pharmaceuticals to develop the property into a manufacturing facility. Maybe insulin one day. The CEO and the chief scientist of Amphastar, AMPH, are Chinese.
opc11, I was wrong, and you are correct. I got this exactly backwards. Amphastar acquired the insulin factory in France in April 2014 from one of Merck Sharpe & Dohme's businesses. I try to correct my errors, and I just wanted to get my correction in writing.