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Post by me on May 18, 2017 16:31:09 GMT -5
The key takeaways for me from this ASM (in addition to or clarifying/adding to topics in the Shoutbox): 1. All 4 motions passed 2. No Q&A 3. The 4 T1s on stage were powerful and passionate spokespeople 4. Personally, I was extremely impressed by OneDrop and the Damon Dash Network. It appears that OneDrop and Afrezza are being tied together here. Yes, the intent is human insulin being sold without prescription in OneDrop's subscription service and available on Amazon (especially intriguing as AMZN has eyes towards the PBM business). Two issues others have mentioned - first, pricing. Many on this MB have been suggesting to give away the product. This opportunity could be the closest they come to "giving it away." Since none of us on this board know precisely the COGS of Afrezza at full production, we don't know how low they can go in their pricing and make a profit. My thought - at full production, MNKD could probably sell Afrezza for $30 - $35 +/- per month with a small profit. With a OneDrop/Afrezza combo marketed properly on AMZN, the volume could be significant. The second issue was spirometry. As mnholdem commented in the ShoutBox, I can't see the FDA shutting down insulin sold OTC because of no spirometry, especially if there have been no Afrezza issues brought to the FDA's attention.
5. Mike suggested we would see a bump in scripts on Friday, with a continuing trend upwards (with fits and starts)
6. Half of the MNKD marketing dept was in CA finalizing the TV commercial (to go live sometime in July)
7. My biggest disappointment was no questions were entertained...it seemed like the celebrities were used to diffuse what could have been an awkward situation. My view of the celebrities "being used" softened significantly after I listened to the discussion around OneDrop and Damon's presentation (yes, he had previously demonstrated to Nick Jonas the 'wonders' of Afrezza on his own BS level). These two components appeared to me to be significant cogs in the future of Afrezza's success.
8. I flagged down Matt after the speaker presentations regarding two issues:
a) Why was there no discussion regarding the cash position and the plan to address it? He responded that he would have said the exact same thing that he did at the ER, as he could not provide any updates on financing activities that are still in progress. He said that they could do an offering, but that would be bad for shareholders as any meaningful raise would be terribly dilutive. He projects they can fund operations through mid-September and the plan is find a way to do a financing that is non-dilutive. He said, unlike selling shares, that "is hard."
b) What was the issue with Aegis Capital?! Basically, he indicated MNKD hoped that AC would serve as an extension of their IR as MNKD doesn't have that kind of resources. Matt now understands from significant feedback that AC is probably doing more harm than good. Most of the feedback that he's gotten from shareholders is that AC appears to be trying to target MNKD shareholders as new clients of AC. (While Matt didn't say so, my takeaway was that he probably regrets getting AC involved.)
9. I'm still a little miffed that shareholders were not able to express their (probable) disappointment at where we stand today, but I'm hoping that adding OneDrop and Damon to the Mike arsenal (and probably a last minute financing) will finally get us on the road to where we need to be. 10. Just before I left, OOG asked me what I thought about the ASM and whether I would buy more shares. My response: I was extremely impressed and excited about the opportunities from these new relationships, yet I will continue to be leery of potential for success until I know we have an 18 to 24 month runway of cash. (If MNKD were not already such a large percentage of my portfolio - on an original basis basis - my answer would be a little different. I would probably take a flyer at this price.)
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Post by Deleted on May 18, 2017 16:56:42 GMT -5
Thanks for sharing this. There seems to be a lot of positive catalysts surrounding Afrezza right now that could help sell the drug. It's always been clear to me that sales are the only answer. Defusing shareholder frustration with positive passionate PWD was done purposely and I am sure MNKD was happy to leave there today with their heads.
Matts- Answer re: Aegis is either BS and if not BS unacceptable that he was so naive.
There are times I want to buy this stock and then I read something that makes me scratch my head.
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Post by boca1girl on May 18, 2017 17:11:46 GMT -5
Thanks for sharing this. There seems to be a lot of positive catalysts surrounding Afrezza right now that could help sell the drug. It's always been clear to me that sales are the only answer. Defusing shareholder frustration with positive passionate PWD was done purposely and I am sure MNKD was happy to leave there today with their heads. Matts- Answer re: Aegis is either BS and if not BS unacceptable that he was so naive. There are times I want to buy this stock and then I read something that makes me scratch my head. Matt may have shareholder's best interests in his heart, but his actions and those of the BOD have shown me they are not up to the task of managing a public company. The Aegis "mistake" takes the cake.
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Post by peppy on May 18, 2017 17:29:01 GMT -5
The key takeaways for me from this ASM (in addition to or clarifying/adding to topics in the Shoutbox): 1. All 4 motions passed 2. No Q&A 3. The 4 T1s on stage were powerful and passionate spokespeople 4. Personally, I was extremely impressed by OneDrop and the Damon Dash Network. It appears that OneDrop and Afrezza are being tied together here. Yes, the intent is human insulin being sold without prescription in OneDrop's subscription service and available on Amazon (especially intriguing as AMZN has eyes towards the PBM business). Two issues others have mentioned - first, pricing. Many on this MB have been suggesting to give away the product. This opportunity could be the closest they come to "giving it away." Since none of us on this board know precisely the COGS of Afrezza at full production, we don't know how low they can go in their pricing and make a profit. My thought - at full production, MNKD could probably sell Afrezza for $30 - $35 +/- per month with a small profit. With a OneDrop/Afrezza combo marketed properly on AMZN, the volume could be significant. The second issue was spirometry. As mnholdem commented in the ShoutBox, I can't see the FDA shutting down insulin sold OTC because of no spirometry, especially if there have been no Afrezza issues brought to the FDA's attention.
5. Mike suggested we would see a bump in scripts on Friday, with a continuing trend upwards (with fits and starts)
6. Half of the MNKD marketing dept was in CA finalizing the TV commercial (to go live sometime in July)
7. My biggest disappointment was no questions were entertained...it seemed like the celebrities were used to diffuse what could have been an awkward situation. My view of the celebrities "being used" softened significantly after I listened to the discussion around OneDrop and Damon's presentation (yes, he had previously demonstrated to Nick Jonas the 'wonders' of Afrezza on his own BS level). These two components appeared to me to be significant cogs in the future of Afrezza's success.
8. I flagged down Matt after the speaker presentations regarding two issues:
a) Why was there no discussion regarding the cash position and the plan to address it? He responded that he would have said the exact same thing that he did at the ER, as he could not provide any updates on financing activities that are still in progress. He said that they could do an offering, but that would be bad for shareholders as any meaningful raise would be terribly dilutive. He projects they can fund operations through mid-September and the plan is find a way to do a financing that is non-dilutive. He said, unlike selling shares, that "is hard."
b) What was the issue with Aegis Capital?! Basically, he indicated MNKD hoped that AC would serve as an extension of their IR as MNKD doesn't have that kind of resources. Matt now understands from significant feedback that AC is probably doing more harm than good. Most of the feedback that he's gotten from shareholders is that AC appears to be trying to target MNKD shareholders as new clients of AC. (While Matt didn't say so, my takeaway was that he probably regrets getting AC involved.)
9. I'm still a little miffed that shareholders were not able to express their (probable) disappointment at where we stand today, but I'm hoping that adding OneDrop and Damon to the Mike arsenal (and probably a last minute financing) will finally get us on the road to where we need to be. 10. Just before I left, OOG asked me what I thought about the ASM and whether I would buy more shares. My response: I was extremely impressed and excited about the opportunities from these new relationships, yet I will continue to be leery of potential for success until I know we have an 18 to 24 month runway of cash. (If MNKD were not already such a large percentage of my portfolio - on an original basis basis - my answer would be a little different. I would probably take a flyer at this price.)
Thank you me for the report on the annual shareholders meeting.
This is what I read: It appears that OneDrop and Afrezza are being tied together here. Yes, the intent is human insulin being sold without prescription in OneDrop's subscription service and available on Amazon (especially intriguing as AMZN has eyes towards the PBM business).
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Post by mnholdem on May 18, 2017 17:29:06 GMT -5
Imagine this panel on your favorite talk show and perhaps you'll begin to see the impact to educate both patients and physicians.
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Post by sayhey24 on May 18, 2017 18:06:04 GMT -5
The key takeaways for me from this ASM (in addition to or clarifying/adding to topics in the Shoutbox): 1. All 4 motions passed 2. No Q&A 3. The 4 T1s on stage were powerful and passionate spokespeople 4. Personally, I was extremely impressed by OneDrop and the Damon Dash Network. It appears that OneDrop and Afrezza are being tied together here. Yes, the intent is human insulin being sold without prescription in OneDrop's subscription service and available on Amazon (especially intriguing as AMZN has eyes towards the PBM business). Two issues others have mentioned - first, pricing. Many on this MB have been suggesting to give away the product. This opportunity could be the closest they come to "giving it away." Since none of us on this board know precisely the COGS of Afrezza at full production, we don't know how low they can go in their pricing and make a profit. My thought - at full production, MNKD could probably sell Afrezza for $30 - $35 +/- per month with a small profit. With a OneDrop/Afrezza combo marketed properly on AMZN, the volume could be significant. The second issue was spirometry. As mnholdem commented in the ShoutBox, I can't see the FDA shutting down insulin sold OTC because of no spirometry, especially if there have been no Afrezza issues brought to the FDA's attention.
5. Mike suggested we would see a bump in scripts on Friday, with a continuing trend upwards (with fits and starts)
6. Half of the MNKD marketing dept was in CA finalizing the TV commercial (to go live sometime in July)
7. My biggest disappointment was no questions were entertained...it seemed like the celebrities were used to diffuse what could have been an awkward situation. My view of the celebrities "being used" softened significantly after I listened to the discussion around OneDrop and Damon's presentation (yes, he had previously demonstrated to Nick Jonas the 'wonders' of Afrezza on his own BS level). These two components appeared to me to be significant cogs in the future of Afrezza's success.
8. I flagged down Matt after the speaker presentations regarding two issues:
a) Why was there no discussion regarding the cash position and the plan to address it? He responded that he would have said the exact same thing that he did at the ER, as he could not provide any updates on financing activities that are still in progress. He said that they could do an offering, but that would be bad for shareholders as any meaningful raise would be terribly dilutive. He projects they can fund operations through mid-September and the plan is find a way to do a financing that is non-dilutive. He said, unlike selling shares, that "is hard."
b) What was the issue with Aegis Capital?! Basically, he indicated MNKD hoped that AC would serve as an extension of their IR as MNKD doesn't have that kind of resources. Matt now understands from significant feedback that AC is probably doing more harm than good. Most of the feedback that he's gotten from shareholders is that AC appears to be trying to target MNKD shareholders as new clients of AC. (While Matt didn't say so, my takeaway was that he probably regrets getting AC involved.)
9. I'm still a little miffed that shareholders were not able to express their (probable) disappointment at where we stand today, but I'm hoping that adding OneDrop and Damon to the Mike arsenal (and probably a last minute financing) will finally get us on the road to where we need to be. 10. Just before I left, OOG asked me what I thought about the ASM and whether I would buy more shares. My response: I was extremely impressed and excited about the opportunities from these new relationships, yet I will continue to be leery of potential for success until I know we have an 18 to 24 month runway of cash. (If MNKD were not already such a large percentage of my portfolio - on an original basis basis - my answer would be a little different. I would probably take a flyer at this price.)
Thank you me for the report on the annual shareholders meeting.
This is what I read: It appears that OneDrop and Afrezza are being tied together here. Yes, the intent is human insulin being sold without prescription in OneDrop's subscription service and available on Amazon (especially intriguing as AMZN has eyes towards the PBM business).
I could be wrong but I heard nothing about afrezza being sold without a prescription. What I heard from Dachis was he is looking into providing direct patient fulfillment for a single monthly fee and you can get all you need. I assumed the PWD would need a prescription from some doctor. Additional thoughts from today. I came with a some what negative attitude which even got worse when I saw the "Talk Show" setup and camera/lights. I was given a heads-up prior to the meeting they were filming for a docu-series but I didn't like it. My attitude leaving was 180 in the other direction. I got to spend a bit of time with Mike C. and others. Mike remembered our discussion from last year. After a good discussion it really does seem like things may be starting to role. Matt was also readily available as were everyone else including Charles Mattocks, Jeff Dachis and Damon Dash. I got some nice photos. Anyone who did not take the opportunity to have their questions answered have no one to blame but themselves. I learned more today than any other ASM and left almost as happy as 2014. I am looking forward to 2018 ASM. A few IMO take-aways - Damon Dash an afrezza user is all in. He sees afrezza as his personal mission and as he said he needs afrezza and is going to do all he needs to do to make it succeed. He may also be seeing the potential for a nice pop in the pps as Uncle Sam wants his money. He told me to hold him to MNKD being huge and to come back next year so he could tell me he told me so. We will see. Jeff Dachis an afrezza user is all in. He sees the $$$ potential of afrezza and just how big it could be. Dachis is good at making money and raising money. He is a really nice additional to the MNKD team. Charles Mattocks was in learn mode. He was listening to everything said. The interesting thing about him is he has worked with Oprah on other diabetes initiatives and mentioned her name during the Talk Show.
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Post by peppy on May 18, 2017 18:31:00 GMT -5
Thanks for being there to tell us sayhey. and thanks for telling us.
scripts tomorrow.
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Post by falconquest on May 18, 2017 18:37:17 GMT -5
Ok so what's the deal? Any big updates happen? I woke up this morning and found myself in the middle of a carrot patch. 🤡 I found myself in the Mannkind patch waiting for the great Afrezza inhaler. If you're really sincere and truly believe then the great Afrezza inhaler will rise out of the Mannkind patch and bring huge profits to all who are sincere and believe because Mannkind investors are the most sincere of all..........Ok, so a not so great a parody of this... www.youtube.com/watch?v=xiSIQzwIPzQ
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Post by dreamboatcruise on May 18, 2017 18:59:41 GMT -5
8. I flagged down Matt after the speaker presentations regarding two issues: a) Why was there no discussion regarding the cash position and the plan to address it? He responded that he would have said the exact same thing that he did at the ER, as he could not provide any updates on financing activities that are still in progress. He said that they could do an offering, but that would be bad for shareholders as any meaningful raise would be terribly dilutive. He projects they can fund operations through mid-September and the plan is find a way to do a financing that is non-dilutive. He said, unlike selling shares, that "is hard."
Reading between the lines this seems to imply that there isn't a deal nearing completion... at least if I were him I wouldn't have said it "is hard" if there was something looking very likely to close. I'll take him at face value that it means he doesn't believe it is impossible. I wish him luck.
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Post by Deleted on May 18, 2017 19:03:50 GMT -5
Good to hear that the panel was very passionate about Afrezza. I would be curious to know if they might be shareholders as well. And Damon D. if he has friends like Jay-Z etc, getting money from the right people might not be so difficult, if needed.
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Post by babaoriley on May 18, 2017 19:10:20 GMT -5
Some great posts, OOG, me and sayhey, special shout outs to you guys!
Impressed that sayhey was turned 180 based on what he experienced. Seems our team can do just about anything but sell Rx's!
A bump tomorrow? Gosh, wouldn't that be a surprise!
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Post by MnkdWASmyRtrmntPlan on May 18, 2017 19:14:52 GMT -5
Thank you both, Seyhey and "me". I was surprised the stock did nothing today. I did buy a couple more thousand shares today and they are down 4 cents already. Hoping for a nice sales and SP bump tomorrow.
Seyhey, just curious, are you buying more?
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Post by sayhey24 on May 18, 2017 19:19:20 GMT -5
Good to hear that the panel was very passionate about Afrezza. I would be curious to know if they might be shareholders as well. And Damon D. if he has friends like Jay-Z etc, getting money from the right people might not be so difficult, if needed. As crazy as this sounds, I got the feeling they may have a few big deals in the works which can pay the bills. For some reason there was a "rumor" they are starting up production next week. I think its going to take them some work to clear away the cob webs as its been a while. At the same time I think Jeff Dachis may have a dollar or two and knows where to get more. I think it will also be interesting to see if Charles Mattock's friend Oprah finds Mannkind as interesting as Charles does. I heard she has a few dollars in the bank. Maybe she can spare a dime.
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Post by Deleted on May 18, 2017 20:57:48 GMT -5
8. I flagged down Matt after the speaker presentations regarding two issues: a) Why was there no discussion regarding the cash position and the plan to address it? He responded that he would have said the exact same thing that he did at the ER, as he could not provide any updates on financing activities that are still in progress. He said that they could do an offering, but that would be bad for shareholders as any meaningful raise would be terribly dilutive. He projects they can fund operations through mid-September and the plan is find a way to do a financing that is non-dilutive. He said, unlike selling shares, that "is hard."
Reading between the lines this seems to imply that there isn't a deal nearing completion... at least if I were him I wouldn't have said it "is hard" if there was something looking very likely to close. I'll take him at face value that it means he doesn't believe it is impossible. I wish him luck. I am probably wrong but I didn't read it as it was hard to sell shares. I read it as a "hard" hit against the share count vs a nondilutive.
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Post by tw12 on May 18, 2017 21:36:47 GMT -5
I'll reinforce the positives mentioned above and must say right off that our new best friends are Damon and Charles and Jeff and the diabetes counsellor from New Orleans (I’m so sorry I can’t remember her name).
Their passionate, real-world, humorous and highly personal sharing of their journey to Afrezza will rock the world of any diabetics lucky enough to hear them. Yes, I'm chronically positive, no worries there; but I encourage you to listen to the video closely tomorrow on the MannKind web site. For my money, yes, but way more importantly for the 400 million or more T1's and T2's on this planet, their messaging could well be The Game Changer, the initiation of a deeper, more real dialogue with diabetics.
So my strongest takeaway is that each of MannKind's new partners has got what it takes to get folks’ attention in the most powerful way: with respect and understanding - with humanity.
As Damon put it, “There’s no bubble gum shit” in this marketing.
So sorry, Big Pharma, you’re gonna lose this one. Game on!
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