MannKind (MNKD) -2.5% AH after filing to sell 12M shares (4.1% of outstanding shares) on behalf...

MannKind (MNKD) -2.5% AH after filing to sell 12M shares (4.1% of outstanding shares) on behalf of healthcare investment firm Deerfield Management. The filing comes with shares up 213% YTD. Deerfield recently agreed to provide MannKind with $160M in financing via senior notes, some of which are convertible into equity following milestones.

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Comments (5)
  • rufusthrat
    , contributor
    Comments (173) | Send Message
    Al dilutionmachine Mann
    19 Jul 2013, 06:39 PM Reply Like
  • bigkid53
    , contributor
    Comments (62) | Send Message
    I don't think this is a big deal. They owe the money anyway and Deerfield must have confidence in the company to take equity instead of cash. .
    19 Jul 2013, 08:36 PM Reply Like
  • joei
    , contributor
    Comments (130) | Send Message
    This is what biotechs do. Until they have something they can sell, the only way they can legitimately get money is thru the equity markets. Equity is all they have to offer for collateral. Yes, dilution, but it won't matter if they hit a homerun.
    19 Jul 2013, 09:05 PM Reply Like
  • matosjr
    , contributor
    Comments (23) | Send Message
    any other news on the trial results? MNKD has been very quiet aside from the latest debt financing. thank you !!
    20 Jul 2013, 11:07 AM Reply Like
  • Mark Moore
    , contributor
    Comments (22) | Send Message
    I am sure there are a lot of little children that have to take insulin shot that would love to have a dreamboat inhaler. Grown ups too!
    20 Jul 2013, 01:20 PM Reply Like
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