On Friday, Shares of MannKind Corporation (NASDAQ:MNKD), added 6.45% and closed at $0.660 in the last trading session. The last trading range of the stock ranges between $0.56 and $0.68. The company’s Market capitalization is $335.87 million with the total Outstanding Shares of 478.38 million. MannKind Corporation (MNKD) (MNKD) recently declared that MannKind and Sanofi have reached a contract with the following terms:
The promissory note and security agreement between MannKind and Aventisub LLC, a Sanofi associate, are terminated, with Aventisub agreeing to forgive the full outstanding loan balance of $71.56 million.
MannKind is also relieved from its obligation to pay $0.5 million in formerly uncharged costs related to the collaboration.
Sanofi will purchase $10.2 million worth of insulin from MannKind in early December as part of its preexisting commitment to purchase insulin following termination of the partnershipand MannKind’s exercise of a “put” option.
The balance of the insulin “put” option ($30.6 million) is accelerated with Sanofi concluding the cash payment of $30.6 million to MannKind by January 9, 2017. This payment will be made without MannKind being required to deliver any insulin to Sanofi.
All issues arising out of the license and partnershipagreement, the supply agreement, the promissory note, the security agreement and the transition agreement are resolved.
Technical Analysis: During the 52-week trading session the minimum price at which share price traded, registered at $0.41 and reached to max level of $2.60. The EPS of company is strolling at -0.52.
Shares of McEwen Mining Inc (NYSE:MUX), dropped -9.18% and closed at $2.67 in the last trading session. The last trading range of the stock ranges between $2.56 and $3.00. The company’s Market capitalization is $726.29 million with the total Outstanding Shares of 299.53 million. McEwen Mining Inc. (MUX) (MUX) is happy to declare the appointment of Xavier Ochoa to President and Chief Operating Officer (“COO”). Xavier joined the Company this past September, 2016 as McEwen Mining’s COO (see news release dated September 9, 2016).
The change in administration represents a noteworthystep towards reaching our operational aims and further advancing our portfolio of projects. Xavier brings over 25 years of international experience in the mining industry, counting senior administration positions where he was instrumental for leading project and operational teams, both underground and open pit.
Technical Analysis: During the 52-week trading session the minimum price at which share price traded, registered at $0.81 and reached to max level of $4.92. The EPS of company is strolling at 0.04.