On Tuesday,Shares of MannKind Corporation (NASDAQ:MNKD), SUBTRACT -3.38% and closed at $0.628 in the last trading session. The last trading range of the stock ranges between $0.60 and $0.66. 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.
Xcel Energy Inc (NYSE:XEL), jumped 1.92% and closed at $39.25 in the last trading session. The last trading range of the stock ranges between $38.69 and $39.46. The company’s Market capitalization is $19.77 Billion with the total Outstanding Shares of 507.95 Million. Energy Impact Partners (EIP) recently declared the addition of Australia-based AGL Energy Limited (AGL) to its Nexus planned partner network. EIP’s other Nexus Partners include Southern Company ( NYSE : SO ), National Grid plc ( NYSE : NGG ), Xcel Energy Inc. ( NYSE : XEL ), Ameren Corporation ( NYSE : AEE ), Great Plains Energy ( NYSE : GXP ), Fortis Inc. ( TSX : FTS ) and Avista Corp. ( NYSE : AVA ).
EIP is a private equity firm that invests in emerging technologies, products, services and business models throughout the electricity supply chain from generation to consumption. The EIP portfolio includes companies like Opus One Solutions, which provides visibility and control to electric distribution utilities; Sense Labs, which facilitates customers to know exactly how much energy every device in their homes is consuming; and AutoGrid Systems, which offers big data analytics and cloud computing solutions for the energy industry.