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Post by falconquest on May 1, 2019 21:28:28 GMT -5
Well then......I don't know what to tell you. You just aren't looking hard enough. Remove the stock price, the pain, the time, the worry. Now, is the business heading in the right direction? Yes. To back it up, I'm buying hand over fist as much as I can. But,(and it's a big but) I have a 5-7 year horizon. That makes a huge difference in how you and I would view the company. Good luck to you. I had a 5-7 year horizon...............that was about 12 years ago.
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Post by lifebreath on May 1, 2019 21:28:29 GMT -5
Absolutely not true!! Castagna is 41 years old graduates from college age 22 maybe 21, pharmaceutical college to achieve pharma D is four years. Makes him 25, Wharton mba is a three year program 28 Years old 3 years at Mannkind. Leaves a possibility of 10 years work experience. Can you preform simple Arithmetic ? So you never worked while also going to school? Lots of people do (and that's what MC did). [linkedin url="https://www.linkedin.com/in/michael-castagna- Apparently you are not familiar with pharmacology PhD programs or Wharton mba neither of which you take up on the side while working full time. And neither did Castagna. Please show that you have even a slight bit of knowledge about what you post.
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johny
Researcher
Posts: 87
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Post by johny on May 1, 2019 21:42:37 GMT -5
Mike's got a long resume, he's been around. He had a lot of funding, and outside influence, to succeed (assuming he succeeded) at those companies.
In 2017, he was hired to launch a new drug (at a start-up company), with no funding, or outside influence, all while being under the microscope.
I'm more interested in his character, than his past employers.
Luckily, we don't need Mike to invent something, or find a new direction for the company. (Thank God)
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Post by radgray68 on May 1, 2019 21:44:35 GMT -5
Well then......I don't know what to tell you. You just aren't looking hard enough. Remove the stock price, the pain, the time, the worry. Now, is the business heading in the right direction? Yes. To back it up, I'm buying hand over fist as much as I can. But,(and it's a big but) I have a 5-7 year horizon. That makes a huge difference in how you and I would view the company. Good luck to you. I had a 5-7 year horizon...............that was about 12 years ago. Touche Look, Mike C. may not be Bob Iger,(yet) but who is? And we couldn't afford a Bob Iger anyway. DeSisto was supposedly good but he bailed out before the ink had dried. We've got OUR guy and he'll do just fine. wait and see.
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Post by nylefty on May 1, 2019 21:49:21 GMT -5
So you never worked while also going to school? Lots of people do (and that's what MC did). [linkedin url="https://www.linkedin.com/in/michael-castagna- Apparently you are not familiar with pharmacology PhD programs or Wharton mba neither of which you take up on the side while working full time. And neither did Castagna. Please show that you have even a slight bit of knowledge about what you post. Wrong on both counts: Wharton offers weekend programs for executives that lead to an MBA. executivemba.wharton.upenn.edu/ Wharton delivers our undiluted MBA curriculum to working professionals through our executive MBA program in Philadelphia and San Francisco. Wharton emphasizes an intensive core in general management and an unmatched selection of electives in a residential every-other-weekend format tailored for working professionals
As for the Massachusetts College of Pharmacy and Health Sciences (where MC got his PharmD degree): www.mcphs.edu/academics/school-of-pharmacy/pharmacy/pharmacy-pharmd-pathway-postbacc Doctor of Pharmacy (PharmD) — Postbaccalaureate Pathway Location: Online Start Term: Fall
As a pharmacist, you are part of patients’ daily lives and pivotal healthcare moments. This program allows U.S.-licensed practicing pharmacists who have already earned a bachelor’s degree in pharmacy to advance their careers by earning the terminal PharmD degree.
This part-time program is offered online for practicing pharmacists who wish to continue to practice while earning their PharmD. Most experiential work can be fulfilled through the student’s current work site. And students are assigned to a required four-week clinical rotation at the end of the program.
Attendance at an in-person orientation on the Boston campus in early August is required for all new students prior to Fall enrollment
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Post by lifebreath on May 1, 2019 22:30:34 GMT -5
Wrong on both counts: Wharton offers weekend programs for executives that lead to an MBA. executivemba.wharton.upenn.edu/ Wharton delivers our undiluted MBA curriculum to working professionals through our executive MBA program in Philadelphia and San Francisco. Wharton emphasizes an intensive core in general management and an unmatched selection of electives in a residential every-other-weekend format tailored for working professionals
As for the Massachusetts College of Pharmacy and Health Sciences (where MC got his PharmD degree): www.mcphs.edu/academics/school-of-pharmacy/pharmacy/pharmacy-pharmd-pathway-postbacc Doctor of Pharmacy (PharmD) — Postbaccalaureate Pathway Location: Online Start Term: Fall
As a pharmacist, you are part of patients’ daily lives and pivotal healthcare moments. This program allows U.S.-licensed practicing pharmacists who have already earned a bachelor’s degree in pharmacy to advance their careers by earning the terminal PharmD degree.
This part-time program is offered online for practicing pharmacists who wish to continue to practice while earning their PharmD. Most experiential work can be fulfilled through the student’s current work site. And students are assigned to a required four-week clinical rotation at the end of the program.
Attendance at an in-person orientation on the Boston campus in early August is required for all new students prior to Fall enrollment
[bra You might want to read your on post that says the pharma d program is for working practicing pharmacist I do not believe that to be on his resume
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Post by longliner on May 1, 2019 22:40:51 GMT -5
[bra You might want to read your on post that says the pharma d program is for working practicing pharmacist I do not believe that to be on his resume Are you truly arguing with MC's bio as stated on the Mannkind website?
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Post by nylefty on May 1, 2019 22:42:06 GMT -5
[bra You might want to read your on post that says the pharma d program is for working practicing pharmacist I do not believe that to be on his resume His LinkedIn resume says he worked as a CVS pharmacist. I remember him saying in an interview that he started as a pharmacist assistant or pharmacy tech. In several states (including Pennsylvania) you don't need to go to school to become a pharmacy tech - you can get your training on the job. And you might want to read your "on" post that says that it's impossible to earn advanced degrees at Wharton and pharmacy schools while working full-time, something that's refuted by the websites I cited.
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Post by falconquest on May 2, 2019 5:13:17 GMT -5
Rather than argue over Mike's bio, the original question was "Is the criticism fair?" The measure of success for a CEO from a shareholder perspective is the stock price. Others may argue that he shouldn't be focused on the share price, he should be focused on running the company. However, we all know the measure of a CEO is the share price! End of discussion. Mannkind has been stagnant far too long. This is concerning to me because it will affect the ability of the company to raise cash in the future, or at minimum the cost of raising that cash. This will hinder the ability of the company to promote Afrezza. My post above is illustrative of my point. Look at the share price, it's horrible! I don't know if Mike is the best CEO for Mannkind but I know he isn't improving the share price. Quite frankly from my perspective, rather than have a "little engine that could" CEO, I would rather have a "bull in the china shop" approach. This Mannkind story is getting too long in the tooth which is why I get a kick out of those who ask for patience. I have advocated for licensing out Afrezza to a large partner with deep pockets to promote it (and someone who understands what the hell it is) which will allow Mannkind to further develop new and innovative therapies. Keep the company small, overhead to a minimum and "wow" the world with new Technosphere treatment options. Mannkind is too small to take on big pharma.
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Post by hellodolly on May 2, 2019 6:19:54 GMT -5
"Dr. Castagna has over 20 years of experience in healthcare, pharmaceutical, biotech and specialty pharmacy industries. He joins MannKind from Amgen, Inc., where he spent over three years as Vice President, Global Commercial Lead for a portfolio of nine biosimilar drugs and Vice President, Global Lifecycle Management. Prior to Amgen, Dr. Castagna, was Executive Director of Bristol-Myers Squibb’s Immunology franchise, where he served as co-lead to relaunch Orencia IV and launch Orencia SC, both rheumatoid arthritis drugs. Before BMS, Dr. Castagna was with Sandoz (Novartis) as Vice President and Division Head for Biopharmaceuticals, North America, where he established the US Biologics Business Unit and relaunched its lead product, Omnitrope, a human growth hormone. Prior to Sandoz, Dr. Castagna held a variety of positions with EMD (Merck), Serono, Pharmasset and DuPont Pharmaceuticals. Dr. Castagna has been Director of MannKind Corporation since May 25, 2017. Dr. Castagna serves on the board of directors of Pet Partners headquartered in Bellevue, Washington. Dr. Castagna received his Bachelors of Science – Pharmacy degree from Philadelphia College of Pharmacy, his Doctor of Pharmacy from Massachusetts College of Pharmacy and his MBA from the Wharton School of Business at the University of Pennsylvania." Every CEO was a first time CEO. Maybe the choice off words are being parsed here and that may be intentional on your part, but he does have experience in the healthcare industry. Honestly, name a POTUS that has had experience as being POTUS before the first time? Give it a break man. Absolutely not true!! Castagna is 41 years old graduates from college age 22 maybe 21, pharmaceutical college to achieve pharma D is four years. Makes him 25, Wharton mba is a three year program 28 Years old 3 years at Mannkind. Leaves a possibility of 10 years work experience. Can you preform simple Arithmetic ? Having years of CEO experience for this position is crucial.Having years of CEO experience for this position is crucial. He is being compensated $1 million per year to try and learn on the job So, if you take into account his experience as a pharma assistant before he went to college AND couple that with working in a pharmacy while he was in college for 8 years, both undergrad and graduate, you easily make up the difference. You can parse out the facts intentionally and say what you want, but the information is easy to find all over the Internet.
As far as the CEO criticism, you guys are getting more and more desperate and it won't be long until you shuffle off to another board or another topic. But, consider me hooked and intrigued on your BS. When did you fail comprehension, honestly and learn to have a better argument besides ad hominem attacks or circular arguments.
1. "Having years of CEO experience for this position is crucial." Call me silly but, you get experience by coming up through the business and by being placed in various other leadership positions and by taking advantage of those extraordinary opportunities. If he wasn't qualified enough? Apparently they forgot to consult with you on the prerequisites at the time of his selection to the position but, seems to be that everyone else that made that crucial decision, thought otherwise as he was the right person. Maybe they got snookered into his "20 years of experience" when they vetted his credentials??
2. "He is being compensated $1 million per year to try and learn on the job." Were you once again not consulted on the wages and benefits package? Maybe the "20 years of experience in the industry" helped because, they must have vetted his resume, maybe...you think?
As I posted elsewhere, it must be close to the ASM. You will slither away in a few weeks but if you decide to comeback, drop me a note because this was way too much fun, long before my second cup-of-joe.
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Post by mytakeonit on May 2, 2019 6:20:58 GMT -5
Dear bull in a guitar shop ... patience is less than a week away. Wait for the CC and we will be able to snatch the pebble from the hand ... said weed hopper. Your end story sure sounds like UT.
But, that's mytakeonit
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Post by barnstormer on May 2, 2019 7:06:28 GMT -5
Rather than argue over Mike's bio, the original question was "Is the criticism fair?" The measure of success for a CEO from a shareholder perspective is the stock price. Others may argue that he shouldn't be focused on the share price, he should be focused on running the company. However, we all know the measure of a CEO is the share price! End of discussion. Mannkind has been stagnant far too long. This is concerning to me because it will affect the ability of the company to raise cash in the future, or at minimum the cost of raising that cash. This will hinder the ability of the company to promote Afrezza. My post above is illustrative of my point. Look at the share price, it's horrible! I don't know if Mike is the best CEO for Mannkind but I know he isn't improving the share price. Quite frankly from my perspective, rather than have a "little engine that could" CEO, I would rather have a "bull in the china shop" approach. This Mannkind story is getting too long in the tooth which is why I get a kick out of those who ask for patience. I have advocated for licensing out Afrezza to a large partner with deep pockets to promote it (and someone who understands what the hell it is) which will allow Mannkind to further develop new and innovative therapies. Keep the company small, overhead to a minimum and "wow" the world with new Technosphere treatment options. Mannkind is too small to take on big pharma. Amen Brother. Mike is not moving the needle in the right direction. Time is running out on the MC show. Think of all of the longs out there that aren't on this board and how they view the current situation. Mike's motto "I always deliver" hasn't worked out so well for him at MNKD. He has been looking for partners since he took the job and that process started before he got there. He hasn't got it done. He is using the Amgen playbook that he found comfort in during his tenure. Amgen was a whole different animal with deep pockets for a product's launch. They were already a global force. I am in the "I've lost my patience camp" and I think it's insane to at this point to buy more stock just because the share price is low. It's not cheap it's just low because of the companies failure to deliver value. Mike attended JPM and Wainright's investors meetings and apparently failed to creat interest. He wants more shares so he can drizzle them out to pay DF and inflated saleries to other non-performers. The warning lights are flashing bright red. If he doesn't deliver some incredible news by the ASM, it's time to cut him and bring in another quarterback.
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Deleted
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Post by Deleted on May 2, 2019 7:18:50 GMT -5
Mike began with the company and had a deep hole to dig out of. That said, he gets paid not to try but to succeed. So far, he has built some infrastructure to market Afrezza but it has not generated much in the way of revenue and it appears that 2019 sales growth vs 2018 is nothing to write home about (perhaps and hopefully my thoughts are completely invalidated at the upcoming call). Mike in conjunction with his CFO has improved the balance sheet and structure a bit but I don't think what they did in this area is exceptional. The CFO appears to be solid but doesn't seem to have extensive deal experience. That said, the balance sheet, cash and SP have been issues for a very long time. When Al was living, his big war chest hid a lot of issues and no one ever thought things would drag out for so long.
Part of me thinks Mike is just a big Pharma guy who doesn't have the ability to operate in a scrappy start up environment. Part of me also thinks he is trying to build enough clinical data to make a compelling case for a partner for Afrezza, ie he can pitch to a suitor with deep pockets that with the right resources, Afrezza sales will ramp at a much quicker rate. What still confuses me is that clinically, Afrezza is a superior alternative for a large enough portion of the type 1 and 2 markets, that even under the current reimbursement scenario and operating environment, the company should be on a trajectory to sell $50mm worth of Afrezza in 2019. While this is not enough revenue to break even, it would be enough revenue to show the street that growth is strong and there is more than just hope for Afrezza as a commercially viable product and this would drive SP well above where it is today.
There has been for many years, some type of collusive effort to keep Mannkind SP repressed. After all, cash is the oxygen that sustains life for a corporation and Mannkind has been so oxygen deprived for so long that the company has barely the energy or strength to survive. For a little company, it garners an awful lot of attention and its not just by a few entities that are trying to make a few bucks shorting the stock. Remember when Jay Olson was an analyst at GS covering Afrezza. The guy worked for Pfizer earlier in his career and oversaw the commercialization of Exubera. Always wondered why Mannkind appeared to be the only company he followed at GS.
For long term shareholders, it seems like success for Mannkind is always just around the corner. We have been hearing this for over a decade now. Realistically, if things don't improve by year end MC will probably be out of a job but in that case, who replaces him? Finding a top tier CEO would mean a top tier comp package and given the current cash situation, that might be a difficult hurdle to overcome. Maybe some good things pop soon but hope is not a strategy. PS - without the United deal, where would the company be currently? Opportunities for Mannkind are more plentiful now, but opportunity does not equal cash in the bank.
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Post by akemp3000 on May 2, 2019 7:19:09 GMT -5
Appears to be the storm before the calm. My money's on Mike coming through. GLTA
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Post by scottmnkd on May 2, 2019 9:44:54 GMT -5
Rather than argue over Mike's bio, the original question was "Is the criticism fair?" The measure of success for a CEO from a shareholder perspective is the stock price. Others may argue that he shouldn't be focused on the share price, he should be focused on running the company. However, we all know the measure of a CEO is the share price! End of discussion. Mannkind has been stagnant far too long. This is concerning to me because it will affect the ability of the company to raise cash in the future, or at minimum the cost of raising that cash. This will hinder the ability of the company to promote Afrezza. My post above is illustrative of my point. Look at the share price, it's horrible! I don't know if Mike is the best CEO for Mannkind but I know he isn't improving the share price. Quite frankly from my perspective, rather than have a "little engine that could" CEO, I would rather have a "bull in the china shop" approach. This Mannkind story is getting too long in the tooth which is why I get a kick out of those who ask for patience. I have advocated for licensing out Afrezza to a large partner with deep pockets to promote it (and someone who understands what the hell it is) which will allow Mannkind to further develop new and innovative therapies. Keep the company small, overhead to a minimum and "wow" the world with new Technosphere treatment options. Mannkind is too small to take on big pharma. Exactly!
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