There will be no buyout at this point for many reasons. No corporate board could approve what is still a speculative purchase at 5x market value. Mann is not ready to give up control of the company and knows that once Afrezza proves itself in the market place (still a risk) it will be worth much more. Did he say the most valuable medical product ever? MNKD's huge tax loss would be in jeopardy if the company was sold outright.

That being said a valuation of $10+ billion seems reasonable at this point, and so I could see a Pharma partner buying a slice of MNKD at that valuation. Let's say Matt takes 30 million shares off the shelf and sells them to the new partner for $1 Billion. (all numbers very approximate)