Mannkind

Well, since we're currently at a market cap of $500 M, if they execute all of this as stock, that's 100% dilution of current shares. I'm not saying that's what is going to happen. They could do it in pieces as needed. It's also a mixed shelf - they could do stock, warrants, or debt. Or as opc alluded, there could be some complicated deal in the works.

I strongly doubt an immediate 50% haircut in share price. But I'm buying any large dip since this will be enough to get us to PDUFA.