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Post by vissertrades on May 21, 2015 10:40:26 GMT -5
Management is feasting on mega enriching options while WE are getting crumbs... WHEN will they deliver shareholder value, WHEN?
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Post by liane on May 21, 2015 10:45:02 GMT -5
Approx how many are in attendance? Probably ~ 200. BD and I just finished the tour. Back on the road; will try to download my brain.
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Post by kball on May 21, 2015 10:56:17 GMT -5
Wish there was more live info coming from the meeting. I'm sure you know the feeling of sitting at the restaurant table waiting for your food to arrive. I'm sure that's what state they're all in at the moment. More like Doctors office/awaiting test results consultation
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Post by cjc04 on May 21, 2015 11:11:14 GMT -5
Hope the topic of the new Board member comes up. If I were adding a new member, it would be on Business Dev/Commercialization type executive who could be a future successor for CEO. They desperately need a stronger senior team to lead all aspects especially to develop the portfolio and the commercialization of their therapeutics. imho. the moment I heard of the appointment of our CEO, I instantly felt that he's a genius brain behind the technology, but not really CEO material..... Which instantly made me think he's being put there to "go with" the product when it "goes"..... When? WTF knows.
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Post by brentie on May 21, 2015 11:12:53 GMT -5
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Post by thsloppy on May 21, 2015 11:49:44 GMT -5
Nothing earth shattering. A few very direct questions on TI opportunities, insider selling, market manipulation and some really good patient realted testimonials including a gentlemen who traveled all the way from Ireland. Basically on the insider selling, Hakan remarked that none of them are "independently wealthy" and as part of a planned sales program there were divestments. That plan has been cancelled and all reiterated their commitment to the company and took initiative to mention the amount of time and commitment they have displayed in their time with the company. Also to note, I found most of the manager level folks helpful and knowledgable and most have been with the company many many years through the up's and down's as well. As for the stock manipulation, Matt basically explained there was not much they can do. It appears they have explored some options behind the scenes but most concerns raised to the SEC etc. usually lead to nothing. Best remedy is to execute. It is clear that Sanofi is really handling nearly everything with Afrezza commercializetion. Afterwards, a bunch of us spoke with Hakan frankly. He mentioned they were about 8 weeks behind expectations right now, more due to the pre approval process. I think spirometry will be overcome shortly. He deferred to Sanofi on most questions about upcoming industry meetings, DTC etc. He insisted they were aligned though. I asked him about the 2 cartridge and it seems on the radar but no formally in plans right now. They are aware of the opportunity of corrections and Al has been a proponent. It seems more of the focus from talking to the teams in Danbury was production and T.I. opportunities. Hakan seems to be showing some stress but the others are cool as a cucumber. They seemed to have a quiet confidence. Lines 2 and 3 will be up shortly, both are in final stages of testing. I never realized that lines 2 and 3 are not T.I. production, but mostly packaging for commercial use in the various unit sizes. The place is highly automated, and seems very state of the art. That is about all I took away in the 90 minutes I was there. Sorry I could get to Panera first but had to take a work call.
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Post by bradleysbest on May 21, 2015 11:59:10 GMT -5
Thank you for the update!
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Post by liane on May 21, 2015 11:59:49 GMT -5
So, I'm typing from the road - I'll try to give a few details as I remember. Hopefully others will chime in. Before the meeting, I had a chance to meet Eric Fenar (Peakabull). Talked at length about his strategy using Afrezza. He likes the 4 u doses, and likes to take one near the start of the meal, and another a little later on - not really as a corrective dose, but better covering the glucose curve. He mentioned he is using 4 boxes per month. He and others are finding great success with this - flatlines. I mentioned that this info needs to disseminate to pts new to Afrezza - especially if they do not monitor closely. They might take single doses and conclude it doesn't work well for them, not knowing that they might need to cover the curve better. Oh, and his daughter is just as cute in person!
The meeting itself - cut and dry - all the motions passed (big surprise).
Q&A was good - an even mix of positive and negative.
Positive - praise for what Al and team have accomplished bringing product to market, several patient / shareholder testimonials (including 1 guy all the way over from Ireland urging getting TI approved in Europe). Talks in progress for other Technosphere applications. Sanofi trying to target foreign markets that are likely to expedite approvals for drugs already approved by FDA. We saw a short video showing the 12 u cartridge being produced. I believe once all the QA/QC is in place, they can run with it. One thing I found out from the tour is once a line meets all the established QA/QC, they can go operational. They just need to have all the paperwork in place for routine FDA inspections, but the FDA does not need to inspect to certify the line.
Negative - will have to wait to later - low battery
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Post by BlueCat on May 21, 2015 12:10:24 GMT -5
OMG. Now THAT is one cliffhanger …...
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Post by gomnkd on May 21, 2015 12:20:10 GMT -5
I don't see a lot of value in discussing hypotheticals. I can say with near certainty that if we had partnered, the partner would have pulled the plug post-Exubera. Every one of them did. Look at the history of pumps. Many packed and folded, but Minimed thrived. Look at the sheer number of players in that market. www.picturetrail.com/sfx/album/view/201986Al Mann views Afrezza as a natural evolution in insulin delivery. Just like in pumps, lots of players vanished in Inhaled delivery. You cannot have a paradigm shifting technology with everyone agreeing to it. This is why you see a lot of disbelief. A corporate partner with traditional mindset and focus on short term goals will surely fail to see what Al Mann is trying to offer. This is why you see big pharma do poorly in R&D. I wonder how you didn't see this point despite being in corp world. baboriley, I completely agree with you. Hindsight is 20/20 and in no way did I intend to cast aspersions on Mr. Mann, who I happen to think is one of the all-time great visionaries in the medical device field. One does have to wonder, though, what might have been had a BP partnered with them at an earlier point in time. We will never know and it's water under the bridge now. It's all up to SNY now to carefully build Afrezza to what we all know it can be. I've been long for a long time and will continue to be as I believe in the benefit Afrezza will bring to many patients. The future direction of MNKD? Well, nothing I've heard so far is convincing. But, I'm happy to own a royalty company for now.
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Post by centralcoastinvestor on May 21, 2015 12:23:53 GMT -5
Thanks for the updates. It sure helps to hear what happened since many of us could not be there.
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Post by Deleted on May 21, 2015 12:47:32 GMT -5
Management is feasting on mega enriching options while WE are getting crumbs... WHEN will they deliver shareholder value, WHEN? agreed
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Post by Chris-C on May 21, 2015 13:01:14 GMT -5
I assume they introduced the new board member, Dr. Shannon, during the meeting. The press release stated he had been on the board prior and was returning to assist with the "commercialization of Afrezza". If the process is entirely in the hands of Sanofi, as stated by leadership, what will he actually do? Was anything stated in the Q&A about avoiding dilution as the convertibles become due?
Also, was the new VP- HR in attendance?
Those of us not able to travel to Danbury truly appreciate the observations by those of you who were.
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Post by eddiemoy on May 21, 2015 15:15:16 GMT -5
oh, they also mention they are in ongoing discussions with partners.
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Post by eddiemoy on May 21, 2015 15:20:49 GMT -5
al mann made a joke, close to 400m diabetics our factory can only handle 2m what are the rest going to do lol
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