Griffin has always been bullish on MNKD. However much I like the sounds of the evaluation I think $14 is a pipedream currently. Maybe after non-dilutive financing and an upfront cash payment from a global partner we could hit that. Things don't get interesting for this investment until the drug is approved and we see how the market receives the drug.

One asterisk on my last comment- if somebody jumps into a Technosphere conversion to a major patent expiring drug, we could see double the Griffin estimate.