SEC Comment Letter for MANNKIND CORP (MNKD) (CIK 0000899460) (MNKD) — Sep 22, 2011
MANNKIND CORP (MNKD) (CIK 0000899460)
Date: Sept. 22, 2011 · CIK: 0000899460 · Accession: 0000000000-11-056461
AI Filing Summary & Sentiment
Reasoning
File numbers found in text: 000-50865
Letter
September 22, 2011 Via E-mail Matthew J. Pfeffer Corporate Vice President and Chief Financial Officer MannKind Corporation 28903 North Avenue Paine Valencia, CA 91355
Re: MannKind Corporation Form 10-K for the Fiscal Year Ended December 31, 2010 Filed on March 16, 2011 File No. 000-50865
Dear Mr. Pfeffer: We have reviewed your August 31, 2011 response to our August 18, 2011 letter and have the following comments.
Please respond to this letter within te n business days by providing the requested information or by advising us when you will provide the requested response. If you do not believe a comment applies to your facts and circ umstances, please tell us why in your response. Please furnish us a letter on EDGAR under the fo rm type label CORRESP that keys your responses to our comments.
After reviewing the information you provide in response to these comments, we may have additional comments and/or request that you amend your filing. Notes to Consolidated Financial Statements
8. Senior convertible notes, page 79
1. Please refer to your response to comment two. Clarify for us whether the make-whole provisions in the notes can be net-settled in to a fixed number of shares and the maximum number of shares that could be provided to the investor is le ss than the number of shares available. Refer to ASC 815-40-25-30. If th at is not the case, pl ease tell us why the conversion options are not required to be accounted for as a derivative.
14. Commitments and contingencies, page 86
2. Please refer to the last sentence in your proposed disclosure in response to comment three regarding the second and third le gal proceedings where you state “As a result…” The fact that the damages are uns pecified does not, in and of itself, justify that the reasonably possible loss or range of loss cannot be estimated. You may
Matthew J. Pfeffer MannKind Corporation September 22, 2011 Page 2
consider past experience, legal advice, etc ., that may still provide sufficient insight into developing the reasonably possible loss or range of loss.
You may contact Vanessa Robert son, Staff Accountant, at (202) 551-3649 or Mary Mast, Senior Staff Accountant, at ( 202) 551-3613 if you have any questi ons regarding the comments. In this regard, do not hesitate to contact me at (202) 551-3679.
Sincerely,
/s/ Jim B. Rosenberg
Show Raw Text
September 22, 2011 Via E-mail Matthew J. Pfeffer Corporate Vice President and Chief Financial Officer MannKind Corporation 28903 North Avenue Paine Valencia, CA 91355 Re: MannKind Corporation Form 10-K for the Fiscal Year Ended December 31, 2010 Filed on March 16, 2011 File No. 000-50865 Dear Mr. Pfeffer: We have reviewed your August 31, 2011 response to our August 18, 2011 letter and have the following comments. Please respond to this letter within te n business days by providing the requested information or by advising us when you will provide the requested response. If you do not believe a comment applies to your facts and circ umstances, please tell us why in your response. Please furnish us a letter on EDGAR under the fo rm type label CORRESP that keys your responses to our comments. After reviewing the information you provide in response to these comments, we may have additional comments and/or request that you amend your filing. Notes to Consolidated Financial Statements 8. Senior convertible notes, page 79 1. Please refer to your response to comment two. Clarify for us whether the make-whole provisions in the notes can be net-settled in to a fixed number of shares and the maximum number of shares that could be provided to the investor is le ss than the number of shares available. Refer to ASC 815-40-25-30. If th at is not the case, pl ease tell us why the conversion options are not required to be accounted for as a derivative. 14. Commitments and contingencies, page 86 2. Please refer to the last sentence in your proposed disclosure in response to comment three regarding the second and third le gal proceedings where you state “As a result…” The fact that the damages are uns pecified does not, in and of itself, justify that the reasonably possible loss or range of loss cannot be estimated. You may Matthew J. Pfeffer MannKind Corporation September 22, 2011 Page 2 consider past experience, legal advice, etc ., that may still provide sufficient insight into developing the reasonably possible loss or range of loss. You may contact Vanessa Robert son, Staff Accountant, at (202) 551-3649 or Mary Mast, Senior Staff Accountant, at ( 202) 551-3613 if you have any questi ons regarding the comments. In this regard, do not hesitate to contact me at (202) 551-3679. Sincerely, /s/ Jim B. Rosenberg Jim B. Rosenberg Senior Assistant Chief Accountant