True, the Company will need to raise
additional capital before this year closes. But the trials’ completion is now better defined, and
management has created teams to analyze the data from each, thereby expediting preparation
of the final submission. The Company has also settled legal disputes that might otherwise
have been a distraction, and it is prepared to take delivery of two more fill/finish lines in
2013. Meanwhile, potential marketing partners are being kept abreast of developments to
facilitate completion of negotiations soon after the clinical trials’ data are analyzed.

http://www.griffinsecurities.com/upload/reports/Griffin_MNKD_Research_Note_8Aug12.pdf