Appalling CC performance

[Deleted]

Those incentive trips are put together well in advance of when they take place. No idea if there really was a trip to Hawaii but if there was, it was booked at least 12 months prior. In Pharma, the next years incentive trip is announced during the annual meeting. To cancel the trip or not have execs go when they are expected to do so sends a message to the troops so cancelling the execs attendance saves money but also telegraphs bad things to the reps. As far as the recent raise, not happy about how SP responded. Never met Binder, seems bright but no idea as to how much capital markets savvy / experience he has. Know a guy who became a CFO of large established publicly traded company. Big 4 partner, seasoned, bright and experienced. Said he was blown away first year of job by how much he did not know about dealing with capital markets, hedge funds etc. As far as warrants holding down SP, true and Mannkind has had a lot of headwinds some normal and many not...

We have a pretty good idea what 2019 strategy is for Afrezza in the US as well as plans for TS with four focus molecules. Bottom line is for shorts to go away and warrants to become a non-suppressive drag on share price, Afrezza sales in the US need to increase a lot in 2019 ($50mm net to MNKD) and there needs to be an additional TS deal or two that brings in $40mm or so each. Do these things, SP and warrants will take care of themselves. Mike has enough experience with Mannkind that a lot of kinks have been worked through. More challenges no doubt there is more focus on Afrezza, bigger ad spends, cash program, 2 in 1 Rx card that gets patient onto Afrezza without PA issues (PA with this card gets handled after the purchase in manner transparent to patient) and sales territories that will be more efficient. The experience dealing with United for the TS deal will help Mannkind do similar deals in the future with the knowledge and experience gained from negotiating with United. Short term, look at Rx data every Friday. It's the tell for a big part of 2019 plans. Mannkind will succeed or fail based on 2019 results. More compelling data about Afrezza will help but if 2019 is a bust, things get pushed back another 12-18 months and time is moving on and its no longer our friend.

[boca1girl]

Jan 4, 2019 18:49:42 GMT -5 peppy said:

Jan 4, 2019 18:42:51 GMT -5 compound26 said:

70 million at the start of the quarter and 80 million on the capital raise correct?

Mike,  " and we started the year with approximately $70 million in cash from our balance sheet, the most in three years."
"Additionally, we expect $37.5 million in milestones from treprostinil in the next 18 months in addition to further sales continuing to grow as December closed on our highest TRx and dollar sales numbers ever."
"We’re excited to see the interim analysis presented at the upcoming scientific conferences in 2019. We thought being able to raise $80 million at an average price of $1.55 when you include the warrants, decreases our dependency on the capital markets. This funds our efforts to continue to grow revenue, manage our expenses and bring on more institutional retail investors."
compound and all?
seekingalpha.com/article/4231518-mannkind-corporation-mnkd-ceo-michael-castagna-investor-conference-call-transcript?part=single

Peppy, I don’t think your first sentence is correct if the last share offering closed in 2018.  If the cash was received in 2018, the $70M already contains half of that $80M capital raise.  So if the warrants are exercised by the end of 2019, expect the other ~$40M.

[mnkdfann]

Jan 5, 2019 9:03:18 GMT -5 @scotta said:

Those incentive trips are put together well in advance of when they take place. No idea if there really was a trip to Hawaii but if there was, it was booked at least 12 months prior. In Pharma, the next years incentive trip is announced during the annual meeting.

Did Mannkind announce its trip at last year's annual meeting? If so, wouldn't we have heard about it? Proboards members were there, IIRC.

Mannkind is a very small company. Its sales force is not as stable as those at larger pharmas. I suppose Mannkind could have planned its trip so far in advance. But I can also see how it might have waited until mid-year to announce it. Since the number of people involved would have been small, bookings would not really be an issue.

[mytakeonit]

The idea that it was an incentive trip could be wrong or a small incentive. It was a Christmas break so it might just have been a spurt of the moment idea ... an idea for team building.

I don't have a problem with it.

[slugworth008]

Jan 4, 2019 10:47:12 GMT -5 rockstarrick said:

Jan 4, 2019 10:32:02 GMT -5 slugworth008 said:

  They needed to get away Rick - Ya know all the stress of not performing to their salary levels - It's hard on them 

I remain very bullish slug, but it’s hard not to look at the combination of pre Holiday dilution, and a fully paid trip to Hawaii on our dime, as a very careless and thoughtless event.  I mean who woke up that day and decided,,,,,,
hey, I think I’ll dilute the Shareholders and take a few Employees to Hawaii for the Holidays.
They really should save Company paid Vacations until after we reach break even.
Its really a hard one to justify, for me anyway.
I hope 2019 is our year.
✌🏻😎

 I remain bullish as well - but totally agree with your take. It was an absolutely piss poor move by management - both how the dilution was handled and the trip to Hawaii.
 MNKD can't afford to make mistakes - and from what I've read from knowledgeable investors here on PB - better options were available to raise cash. But what do I know 
 Happy New Year to ya Ricky.....Hoping for some MNKD hopium in 2019