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Post by boca1girl on May 30, 2017 16:40:24 GMT -5
It just hasn't been updated yet. Where is Mike? Hasn't he been made a director today?
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Post by mytakeonit on May 30, 2017 16:40:28 GMT -5
CA could commandeer the water from your thousands of golf courses. That would provide you with at least two years of water and would significantly improve baba's golf game. Problem is its the CEOs (and other CXX folks) that want the golf courses, not us - the engineers. If you let engineers rule the country, we will fix everything in 6 months :-) Sorry about going off track! For once we agree ... we let engineers rule the country ... and in 6 months we'll all be saying ... boy, are we in a fix !!! Sorry for going on track!
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Post by mnholdem on May 30, 2017 16:46:09 GMT -5
Look for CEO Castagna to hire a CFO with experience in commercializing pharmaceuticals.
I think good choice would be Jonathan Peacock, who currently serves as the Chairman of the Board for Bellerophon Therapeutics, a small biotech company with a $47 million market cap.
Prior to joining Bellarothon, where he was also briefly the President & CEO, Jon served as:
Chief Financial Officer of Amgen from August 2010 to January 2014;
From 2005 to 2010, he served as Chief Financial and Administrative Officer of Novartis Pharmaceuticals AG, the Pharmaceutical and Biotechnology Division of Novartis AG, where he also handled investor relations;
A Partner at McKinsey and Co, the strategy consulting firm from 1998 to 2005 and a partner at Price Waterhouse from 1993 to 1998.
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CFO would be a demotion for Jon, but if Mike can enable him to see a potential future with MannKind that is much greater than Bellerophon?
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Post by reality on May 30, 2017 17:20:04 GMT -5
I've never been an executive but my guess is most CEOs would not have touched MNKD with a 10 foot pole. It is very difficult to run a company when the company has almost no money. I don't think Jack Welch or Warren Buffet would have been able to do a better job than Matt did. All the things you normally do to turn around a company require money or large investors willing to invest money. For all the people who think Matt did a bad job: What would you have done differently? What should the company do now? The only things I can think of would not bode well for the current shareholders. Advertised. I cant believe its almost June of 2017 and there is no DTC campaign to speak of Advertised is just a start. Matt used to say "wait until DTC" back in May of 2015 , about 6 months before Sanofi even left. He also said he was encouraging Sanofi to do the DTC ads at that time. He got complete control of the company six months later and was not able to do a single ad in 2016 or 2017. But these cost money so I won't even offer this. I will offer you a solution that I and many other people mentioned to Matt directly that still is sitting on the drawing board even today. Social media. Matt could have done an effective social media campaign for an entire year and a half for pennies on the dollar. Where's the official Afrezza You tube ad?, where's the other social media marketing? Yes they are restricted in what the FDA says when advertising on SM, but that doesn't mean you don't do any! Get the approval, (should have put in the application in JANUARY 2016, if they weren't sitting on their behinds half of 2014 and all of 2015 waiting for Sanofi to "sell" their product). This is just one example of how things should and could be done differently. Another one is product enhancement. Why did it take them one and a half years to come up with a MOU with One Drop? Why did it take them an entire year to apply for label enhancement? It's not about money, it's about creativity. Matt and his cohorts are stuck in the 1990s and felt "comfortable" not rocking the apple cart; yet the apples became rotten. Right now all I can say is if Al Mann saw what has happened to his company he would be FURIOUS because Matt and Hakaan jointly ruined him. And yet they are rewarded?
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Post by reality on May 30, 2017 17:22:18 GMT -5
Look for CEO Castagna to hire a CFO with experience in commercializing pharmaceuticals. I think good choice would be Jonathan Peacock, who currently serves as the Chairman of the Board for Bellerophon Therapeutics, a small biotech company with a $47 million market cap. Prior to joining Bellarothon, where he was also briefly the President & CEO, Jon served as:
Chief Financial Officer of Amgen from August 2010 to January 2014;
From 2005 to 2010, he served as Chief Financial and Administrative Officer of Novartis Pharmaceuticals AG, the Pharmaceutical and Biotechnology Division of Novartis AG, where he also handled investor relations;
A Partner at McKinsey and Co, the strategy consulting firm from 1998 to 2005 and a partner at Price Waterhouse from 1993 to 1998.
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CFO would be a demotion for Jon, but if Mike can enable him to see a potential future with MannKind that is much greater than Bellerophon? Quick question, if Matt wasn't let go why would we need a new CFO? Wasn't Matt the CFO?
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Post by sportsrancho on May 30, 2017 17:45:44 GMT -5
Who said Matt wasn't let go?
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Post by wgreystone on May 30, 2017 17:54:36 GMT -5
Look for CEO Castagna to hire a CFO with experience in commercializing pharmaceuticals. I think good choice would be Jonathan Peacock, who currently serves as the Chairman of the Board for Bellerophon Therapeutics, a small biotech company with a $47 million market cap. Prior to joining Bellarothon, where he was also briefly the President & CEO, Jon served as:
Chief Financial Officer of Amgen from August 2010 to January 2014;
From 2005 to 2010, he served as Chief Financial and Administrative Officer of Novartis Pharmaceuticals AG, the Pharmaceutical and Biotechnology Division of Novartis AG, where he also handled investor relations;
A Partner at McKinsey and Co, the strategy consulting firm from 1998 to 2005 and a partner at Price Waterhouse from 1993 to 1998.
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CFO would be a demotion for Jon, but if Mike can enable him to see a potential future with MannKind that is much greater than Bellerophon? We really need one who knows how to raise money. I don't mind dilution of MNKD stock, but MNKD needs sufficient funding. Raising $50m a time as MNKD did last couple of times was just not enough.
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Post by brotherm1 on May 30, 2017 17:56:14 GMT -5
And "Right now all I can say is if Al Mann saw what has happened to his company he would be FURIOUS because Matt and Hakaan jointly ruined him."
I believe if was Mr. Mann himself that did the deal with SNY
Reality? Really?
(Not throwing any stones at Mr. Mann at all; just saying the blame does not fall on Matt)
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Post by rockstarrick on May 30, 2017 18:13:28 GMT -5
And "Right now all I can say is if Al Mann saw what has happened to his company he would be FURIOUS because Matt and Hakaan jointly ruined him." I believe if was Mr. Mann himself that did the deal with SNY Reality? Really? That's because Al believed that Sanofi, or any BP with a Diabetes Portfolio for that matter, would do what was best for people with Diabetes, rather than try to mothball something that could possibly help change the inefficient way Diabetes is treated today. I don't blame Al for trusting Sanofi, I blame Sanofi for misleading Al. I now hope for many reasons that Afrezza reaches mega blockbuster status, and exposes Sanofi for being the dishonest backstabbing Company that they truly are. I hope they sink to the bottom. Cant stand them.
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Post by babaoriley on May 30, 2017 18:13:34 GMT -5
Look for CEO Castagna to hire a CFO with experience in commercializing pharmaceuticals. I think good choice would be Jonathan Peacock, who currently serves as the Chairman of the Board for Bellerophon Therapeutics, a small biotech company with a $47 million market cap. Prior to joining Bellarothon, where he was also briefly the President & CEO, Jon served as:
Chief Financial Officer of Amgen from August 2010 to January 2014;
From 2005 to 2010, he served as Chief Financial and Administrative Officer of Novartis Pharmaceuticals AG, the Pharmaceutical and Biotechnology Division of Novartis AG, where he also handled investor relations;
A Partner at McKinsey and Co, the strategy consulting firm from 1998 to 2005 and a partner at Price Waterhouse from 1993 to 1998.
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CFO would be a demotion for Jon, but if Mike can enable him to see a potential future with MannKind that is much greater than Bellerophon? Now that would be a shot in the arm, but it's difficult for me to see a guy like that walking into our gin joint! So, if he would, that would be a real confidence builder! I actually think we need a guy named "Bellerophon," along with his favorite mount, that might be sufficient to get the word out!
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Post by anderson on May 30, 2017 18:31:20 GMT -5
And "Right now all I can say is if Al Mann saw what has happened to his company he would be FURIOUS because Matt and Hakaan jointly ruined him." I believe if was Mr. Mann himself that did the deal with SNY Reality? Really? That's because Al believed that Sanofi, or any BP with a Diabetes Portfolio for that matter, would do what was best for people with Diabetes, rather than try to mothball something that could possibly help change the inefficient way Diabetes is treated today. I don't blame Al for trusting Sanofi, I blame Sanofi for misleading Al. I now hope for many reasons that Afrezza reaches mega blockbuster status, and exposes Sanofi for being the dishonest backstabbing Company that they truly are. I hope they sink to the bottom. Cant stand them. Also Al made a deal with one CEO(Viehbacher) and immediately after the deal was struck SNY changed CEO's to the guy(Brandicourt) that failed with Exubera. He probably saw Afrezza as a failed product when he entered the door and did the bare minimum to uphold his end of the contract. Might have been a different if SNY didnt change CEO's.
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Post by falconquest on May 30, 2017 18:32:50 GMT -5
Having followed this thread all day at work I thought I might as well chime in. I was very surprised by the news this morning. I have a couple of thoughts about Matt & Mike but before I comment on individuals I would like to start by saying that I believe what Mannkind faces is a leadership crisis. As someone earlier pointed out we have had five different CEO's over the last few years including one who didn't even start. My feeling about the appointment of Matt was that it was an appointment of convenience rather than careful selection.
After the Desisto fiasco (one which I still don't quite comprehend) it was as if Al said, "Matt, how about I make you CEO, you're a numbers guy, what do you say?" I understand why Hakan was let go after his begging and pleading for partners.....IN PUBLIC! Following the Desisto incident, I would have preferred that Al take some time and find the right guy. I wonder if he ever asked Chris Viehbacher? But instead he knee jerked and appointed Matt. I believe Matt did the job he was oriented to do. He's a quiet numbers guy who kinda , sorta led us out of the woods (albeit temporarily) which is where we find ourselves now. As for Mike Castagna, this feels like an appointment of convenience too. Is he qualified? Based on our market cap I suppose he is but he was hired to sell product and to date in my book the jury is still out. Yes, he has started some good projects however, what is his sales team doing? Anyone?
So this is my take on Matt and Mike, I think Matt is a good (probably not great) CFO. He can crunch numbers and chart a financial course but he is no ball of fire in regard to marketing Afrezza. Why was he never on TED talking about the novel insulin product Mannkind created? So he chose Mike and I can't help but wonder if Mike didn't rile things up a bit. I wonder if he doesn't have big ideas and Matt shot them down due to funding. In other words, did Mike make the case to the board that to solve the cash crunch you have to sell more product rather than negotiate deals with Deerfield (and.......ouch, Aegis! Was that Matt's "Hakan" moment?) So now we have a complete change of direction for Mannkind with an unproven leader. Can Mike chart a solid financial future for Mannkind? I am certainly unimpressed with his sales team to date. It's possible there is a larger catalyst at play here but in my opinion this appointment is once again an appointment of convenience and a last 10 seconds hail mary to save Mannkind. I don't know what is driving the share price but they are fortunate it is not falling like a rock. Good luck to everyone, let's hope that pass is caught.
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Post by rockstarrick on May 30, 2017 18:47:59 GMT -5
That's because Al believed that Sanofi, or any BP with a Diabetes Portfolio for that matter, would do what was best for people with Diabetes, rather than try to mothball something that could possibly help change the inefficient way Diabetes is treated today. I don't blame Al for trusting Sanofi, I blame Sanofi for misleading Al. I now hope for many reasons that Afrezza reaches mega blockbuster status, and exposes Sanofi for being the dishonest backstabbing Company that they truly are. I hope they sink to the bottom. Cant stand them. Also Al made a deal with one CEO(Viehbacher) and immediately after the deal was struck SNY changed CEO's to the guy(Brandicourt) that failed with Exubera. He probably saw Afrezza as a failed product when he entered the door and did the bare minimum to uphold his end of the contract. Might have been a different if SNY didnt change CEO's. I think Viehbacher was Sanofis fall guy, or excuse, to be able to justify misleading Al and mothballing afrezza. Sanofi and Brandicourt knew exactly what they were doing, in my opinion this was premeditated all the way. As soon as Mannkind signed that contract, afrezza and everything included, (PWD and Us), were doomed. And the funniest thing was the shorts knew this, they knew it because BP was, and still is funding the short. A bunch of fricken crooks that could care less about Diabetes, or the people Battling it. Soft Launch ?? Fricken liars 😡
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Post by agedhippie on May 30, 2017 19:36:30 GMT -5
And the funniest thing was the shorts knew this, they knew it because BP was, and still is funding the short. This is one of those things that gets continually repeated which is flatly untrue. There is no way BP could fund a short if they wanted to, the simple mechanics of getting the money to the shorts precludes it. If Afrezza really was seen as a threat they would simply have a price war, that's how large well funded companies crush the small fry. The reality is that shorting Mannkind has been extremely profitable so there is no need for any wizard behind the curtain to fund shorts. If a company cannot manage to sell it's products and is short of cash it is going to get heavily shorted, that's a fact of being a public company.
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Post by ilovekauai on May 30, 2017 20:20:24 GMT -5
100% spot-on Rock. Sanofi had it in for us on Day 1 and window dressed an empty cupboard with no Afrezza sales to speak of, under a smoke & mirrors cover. Then, the coast became clear for Sanofi to try and BK MNKD once Viehbacher was ousted & Al passed on. I will never, ever, forget that harsh lesson forced upon me. I never saw the deceit coming and trusted our partner as Al did, remaining a vocal supporter of Sanofi & ignoring the warning signs. I was so wrong! Well guess what? Sanofi is already regretting cutting MNKD loose. Their dastardly attempt to buy Afrezza on the cheap after trying very hard to BK MNKD has failed miserably, the worm is beginning to turn, and now it's Sanofi that must live the consequences of their horrific actions! And, don't think for a NY second that Michael C isn't aware of the true story here. Looking forward to his visionary leadership to take Afrezza to the next level. We lost a few battles that were very tough to endure, but we are going to win this! The winds of war shifted in our favor today. Onwards!
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