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Farmas USA

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#81543

Re: Farmas USA

MNKD

MannKind Perilously Close to Bankruptcy After Sanofi Exit del Bastardo

The company is short on cash, deeply in debt and has no established infrastructure to sell Afrezza.

The most likely end game for MannKind is bankruptcy. If the company is lucky, the Afrezza assets could be picked up by an opportunistic acquirer for pennies on the dollar. Even if that rosy scenario unfolds, MannKind's creditors will receive the proceeds. Equity holders will be left with nothing.

MannKind owed Sanofi $44 million at the end of the third quarter under the cost-sharing arrangement for the Afrezza partnership. The company's Sanofi debt is already larger and must be repaid unless Sanofi offers loan forgiveness as a going-away present. Even then, MannKind maintains significant debt on its books held by Deerfield Capital Management.

MannKind's effort to raise more money to sell Afrezza on its own -- or find another partner willing to do so -- will also be complicated by fixed spending requirements. Most notably, the FDA is requiring MannKind to conduct a five-year, 8,000-patient lung safety study of Afrezza. This study, not yet started, was to be funded by Sanofi.

The company can tap an existing At-The-Money equity financing facility for additional cash and founder Al Mann can also lend the company $30 million

http://bit.ly/1TCdwEd

«Después de nada, o después de todo/ supe que todo no era más que nada.»

#81544

Re: Farmas USA

ALNY, sigue la construcción del segundo hombro...
A ver si lo cierra y se va a máximos este año....

ALNY

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