That's part of the thing. Lots of people thinking of a buyout, but some neglect to see the value of the NOLs, what company would not want to utilize this to offset taxes for future profits?

I mean, I would hope for a buyout (so I can sell my stock sooner) but a merger would most likely happen since these are kept on the books afterwards.

I could see BP create a new subsidiary and merge it with MNKD to keep the value of the NOLs or use a subsidiary that they already own or control.

I notice that Al does mention the NOLs every now and then in CC calls which led me to this question about how they would go about to preserve this and if any of the ANALysts have factored this into their calculations.