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Post by themarlin on Jan 11, 2016 10:59:16 GMT -5
I've tried to be patient with MNKD throughout all of this, but it seems like they disappoint at every turn. I can't help but feel this is a bad sign. It certainly doesn't bode well for the company. You hire a new CEO, knowing full well that he was under stipulation from Insulet. He accepts, you issue a press release announcing it, then backtrack citing the Insulet angle that you were fully aware of? It screams of bush-league management. Clearly Mr. DeSisto backed out and I can't help but interpret that as anything but a signal that things are dire and he wanted no part of it. It's amazing how badly they seem to bungle EVERYTHING. They wanted DeSisto, he wanted them, but he's not fully divorced ... yet. But they decided to try living together anyway and the ex didn't like it. What did it cost Mannkind to take a chance on the relationship and see if Insulet would notice or care or see lawsuit $$$? Amateurish ... or taking a risk to get what you want? What did taking the chance cost Mannkind? |
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Post by trenddiver on Jan 11, 2016 11:04:57 GMT -5
At least now we know the real reason DeSisto didn't speak on the CC regarding the SNY divorce. He wasn't onboard.
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Post by themarlin on Jan 11, 2016 11:05:59 GMT -5
I'm not selling a single solitary share. The horrendous management aside, Afrezza, Technosphere, and NOLs combined have far more value than the current price suggests. Surely, there's a company out there that will pay up for an FDA-approved drug that targets a huge patient population and a drug delivery platform that can extend the life a portfolio product and improve a generic drug. In the meantime, cash on hand plus Sanofi's obligations for another few months give the company time to do something right. You might also explicitly say there's huge value in all the patents coming out of their years of research, and to a lesser degree the connections that Al has to all sorts of people in the industry who apparently love and admire him. |
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Post by bradleysbest on Jan 11, 2016 11:08:09 GMT -5
Yes but where are Al's connections now?
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Post by kdaddyfresh2000 on Jan 11, 2016 11:09:00 GMT -5
The press release on Mannkind's website says he has a non-compete with Insulet until September. I would have thought the lawyers would have cleared that before they announced him as CEO. I think that's a cover story. No way they didn't consider that prior to the first offer. Duane backed out. |
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Post by greg on Jan 11, 2016 11:10:32 GMT -5
I'm not selling a single solitary share. The horrendous management aside, Afrezza, Technosphere, and NOLs combined have far more value than the current price suggests. Surely, there's a company out there that will pay up for an FDA-approved drug that targets a huge patient population and a drug delivery platform that can extend the life a portfolio product and improve a generic drug. In the meantime, cash on hand plus Sanofi's obligations for another few months give the company time to do something right. You might also explicitly say there's huge value in all the patents coming out of their years of research, and to a lesser degree the connections that Al has to all sorts of people in the industry who apparently love and admire him. I'm not sure there's all that much tangible value at this point to Al's connections and people's feeling for him, but you're absolutely right about the company's patent portfolio, which most likely includes some on Dreamboat and the various other delivery devices that have been developed. |
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Post by nuklerfizzacist on Jan 11, 2016 11:11:29 GMT -5
I've tried to be patient with MNKD throughout all of this, but it seems like they disappoint at every turn. I can't help but feel this is a bad sign. It certainly doesn't bode well for the company. You hire a new CEO, knowing full well that he was under stipulation from Insulet. He accepts, you issue a press release announcing it, then backtrack citing the Insulet angle that you were fully aware of? It screams of bush-league management. Clearly Mr. DeSisto backed out and I can't help but interpret that as anything but a signal that things are dire and he wanted no part of it. It's amazing how badly they seem to bungle EVERYTHING. They wanted DeSisto, he wanted them, but he's not fully divorced ... yet. But they decided to try living together anyway and the ex didn't like it. What did it cost Mannkind to take a chance on the relationship and see if Insulet would notice or care or see lawsuit $$$? Amateurish ... or taking a risk to get what you want? What did taking the chance cost Mannkind? Weird turn of events...maybe Insulet got reminded about how much they should care??? Why not? ? Considering all the other weird crap, Christmas phone calls, retiring FDA leaders who are married to hedge fund managers, crystal ball like projections, big player stock analysts asking questions about possibilities that seem to amazingly come true, etc..etc...that in whole have plagued this company and its stock from the beginning...this might turn into the Big Short part 2...starring Spiro...of course |
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Post by seanismorris on Jan 11, 2016 11:15:36 GMT -5
I hate penny stocks...and now I own one!
I was really looking forward to hearing the new CEO speak. Grrr
Those non compete usually don't stand up in court, though he would have lost the benefits.
The only way I can read this, is he backed out. Really really bad news for MNKD shareholders.
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Post by greg on Jan 11, 2016 11:20:05 GMT -5
I hate penny stocks...and now I own one! I was really looking forward to hearing the new CEO speak. Grrr Those non compete usually don't stand up in court, though he would have lost the benefits. The only way I can read this, is he backed out. Really really bad news for MNKD shareholders. MNKD shares did absolutely nothing in response to the announcement of Desisto's hiring so I'm not sure today's development is as bad as some proclaim. The company's market value was close to nothing before DD, does it become worth even less without. To me, before and without doesn't seem all that different, in this case. Clearly, today's development has shock value though. |
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Post by nuklerfizzacist on Jan 11, 2016 11:22:30 GMT -5
The release reads.."objections raised by Insulet Corp."
That'd take some big balls to make that line up; anyone check with Insulet?
Until i hear otherwise, i have to believe this information as released in a legally binding document.
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Post by Chris-C on Jan 11, 2016 11:26:25 GMT -5
Somehow, the movie "All is Lost" starring Robert Redford comes to mind. It seems appropriate because it depicts a lone sailor adrift and clinging to life in the Indian Ocean after losing his 39 foot yacht to a collision and severe storm. Against all odds, Redford gets rescued when his life raft is spotted after he uses a sextant to navigate toward the shipping lanes.
Whether due to bad luck, possible malfeasance by SNY, market manipulation, or incompetence, the company finds itself on the brink of a disaster that seems every bit as foreboding as the movie. Simply incredible.
This board should send Mr. Pfeiffer a sextant and a life raft. I was wrong to assume that the situation was not as dire as suggested by Mr. Edstrom's incompetent handling of the last quarterly conference call. Sometimes things really ARE as bad as they appear.
GLTAL
Chris C
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Post by bluemoth on Jan 11, 2016 11:30:59 GMT -5
I would like to point out the irony..."desisto" means I give up in italian
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Post by dictatorsaurus on Jan 11, 2016 11:35:11 GMT -5
Any guesses why they picked Matt as the replacement?
It seems strange to me since Al took over when Hakkan was removed.
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Post by seanismorris on Jan 11, 2016 11:36:12 GMT -5
In other news, Matt is CFO, CEO, COO and Director of IR/HR.
Next week Matt will be running the machines on the floor and emptying the trash.
I disagree on the importance of the CEO news, MannKind went from "Bankruptcy very possible" to "Bankruptcy almost guaranteed".
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Post by jay1ajay1a on Jan 11, 2016 11:39:07 GMT -5
I've tried to be patient with MNKD throughout all of this, but it seems like they disappoint at every turn. I can't help but feel this is a bad sign. It certainly doesn't bode well for the company. You hire a new CEO, knowing full well that he was under stipulation from Insulet. He accepts, you issue a press release announcing it, then backtrack citing the Insulet angle that you were fully aware of? It screams of bush-league management. Clearly Mr. DeSisto backed out and I can't help but interpret that as anything but a signal that things are dire and he wanted no part of it. It's amazing how badly they seem to bungle EVERYTHING. They wanted DeSisto, he wanted them, but he's not fully divorced ... yet. But they decided to try living together anyway and the ex didn't like it. What did it cost Mannkind to take a chance on the relationship and see if Insulet would notice or care or see lawsuit $$$? Amateurish ... or taking a risk to get what you want? What did taking the chance cost Mannkind?I think it cost them respect, credibility, leadership, shareholders, possible TS deals, and many other things. When you have a partner drop you and are low on cash, you need to make positive moves. You don't want to scare or have the the folks you are trying to licence or buy into your company get nervous and not move ahead. Just my HO. |
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