Yeah to think Al is not going to extend the LOC if there is no partner found is just dumb. He's not going to attempt to bankrupt the company when the company is his pride & joy...not to mention pretty much all of his net worth at the current moment. I also don't understand why it "likely" that such a conversion to equity of the LOC will impact the warrant cash so that it is less than a dollar for dollar decrease for the "cash needs" this guy's come up with....what's he basing that off of?
Right now MNKD needs to get their results published showing (hopefully) spectacular results. I think that's going to entice a partner and any partner is going to have to pay to play...so I am not too concerned about their cash needs. I think his valuation is too low and that affects his analysis. I don't think too many big pharmas are going to pass on the opportunity to discuss partnering with MNKD given what is widely-expected to be good results on their massive-revenue-potential drug. There's plenty of big pharmas. There's only one ultra-rapid-acting insulin ready to hit the market. Fact that it's inhaled and a paradigm shift shouldn't be forgotten as well. The competition should benefit us.
