Hi everybody. I have silently enjoyed (and profited from) the posts on this forum on MNKD. Thanks to you all for your insighful comments. Hopefully I can repay in kind over time.

For now, I have a question that I've been mulling over. Thought I'd ask.

There are a few warrants outstanding on MNKD (30MM come due this October related to the last raise they did). Given that these warrants will be honoured from new share issuances, how does that dilution impact the share price. Assuming the Market Cap remains at current $2.2B, that in itself should mean a ~10% correction, right ? Or, am I not thinking about this correctly.

Thanks in advance.