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Post by peppy on Jun 5, 2017 9:52:18 GMT -5
Castagna is grabbing the bull by the horns - If you've been here for a while like i have, you can FEEL the tide turning. On the surface this PR doesn't mean much yet, but the fact that Mannkind has opened up its communication channels is what shareholders have been clamoring for for a long time. I am loving this too but, as a shareholder since 2009 myself, may I kindly suggest that we all tame our expectations. Its what constantly kills us and its what the short side takes advantage of the most. This is just an article with words. Nothing substantial. Its just a way of showing "we arent sitting around". This same strategy has been done by MNKD before because they were being critiqued harshly and wanted to prove to its shareholders that they are trying to be proactive in a doom and gloom situation. So far, not much of these types of events have led to what is most needed which is sales of something. Whether it be technosphere + insulin or technosphere + "something else". VDEX, RLS, JDRF, OneDrop, Inhaled Epinephrine, Reversed, The Leukemia & Lymphoma Society (LLS), Torrey Pines....Were all presented to us in a similar fashion. No doubt Castagna is a different breed. I see him having the same enthusiasm on conference calls as Al Mann did. I am just suggesting we keep historical data and events in mind when we begin to formulate expectations for future endeavors. If we do this it not only sets shareholders up for success but also Castagna and his Team with honest milestones. Cheers Agreed. Hakan Tried to get TS partnerships to step up as well. Remember? "Ah yes, I remember it well."
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Post by akemp3000 on Jun 5, 2017 9:58:40 GMT -5
It's good to see a new path for the pipeline. While MNKD wanted to go it alone, they just didn't have the funds. Opening this up to a broker that can negotiate deals with large BPs in a variety of arenas could be answer.
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Post by Deleted on Jun 5, 2017 10:22:58 GMT -5
I am loving this too but, as a shareholder since 2009 myself, may I kindly suggest that we all tame our expectations. Its what constantly kills us and its what the short side takes advantage of the most. This is just an article with words. Nothing substantial. Its just a way of showing "we arent sitting around". This same strategy has been done by MNKD before because they were being critiqued harshly and wanted to prove to its shareholders that they are trying to be proactive in a doom and gloom situation. So far, not much of these types of events have led to what is most needed which is sales of something. Whether it be technosphere + insulin or technosphere + "something else". VDEX, RLS, JDRF, OneDrop, Inhaled Epinephrine, Reversed, The Leukemia & Lymphoma Society (LLS), Torrey Pines....Were all presented to us in a similar fashion. No doubt Castagna is a different breed. I see him having the same enthusiasm on conference calls as Al Mann did. I am just suggesting we keep historical data and events in mind when we begin to formulate expectations for future endeavors. If we do this it not only sets shareholders up for success but also Castagna and his Team with honest milestones. Cheers Agreed. Hakan Tried to get TS partnerships to step up as well. Remember? "Ah yes, I remember it well."
Which do you think was worse?Matts position of strength or Hakans "Call me" conference call closings?
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Post by peppy on Jun 5, 2017 10:24:29 GMT -5
Agreed. Hakan Tried to get TS partnerships to step up as well. Remember? "Ah yes, I remember it well."
Which do you think was worse?Matts position of strength or Hakans "Call me" conference call closings? reverso.... you talkin to me?
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Post by #NoMoreNeedles on Jun 5, 2017 11:21:11 GMT -5
What happened to RLS? Is MannKind walking away and pursuing another avenue with Locust Walk?
VALENCIA, Calif., Jan. 21, 2016 (GLOBE NEWSWIRE) -- MannKind Corporation (Nasdaq:MNKD) (TASE:MNKD) today announced that it has entered into a collaboration and license agreement with a newly formed entity, Receptor Life Sciences, Inc., pursuant to which multiple inhaled therapeutic products will be developed to explore their potential to treat conditions such as chronic pain, neurologic diseases and inflammatory disorders.
Under the terms of the agreement, MannKind will perform initial formulation studies and will work with Receptor to develop inhaled formulations of certain undisclosed compounds. MannKind will also transfer manufacturing technology to the licensee, who will be responsible for manufacturing and commercialization activities. The parties will collaborate on the clinical development of investigational products, with Receptor being responsible for all development costs. MannKind will be eligible to receive development and commercialization milestones of up to $102.25 million as well as mid-single to low double-digit royalties on net sales of product.
"We are pleased that Receptor Life Sciences has selected our formulation and delivery technology to advance its portfolio of innovative inhaled products," said Matthew Pfeffer, Chief Executive Officer of MannKind. "This collaboration demonstrates the fundamental value of our platform technology while the risk-sharing structure of the transaction allows us to diversify our product opportunities without losing focus on our lead program."
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Post by oldfishtowner on Jun 5, 2017 11:24:30 GMT -5
Sorry, I don't know what all the kudos for Castagna are about. I do think Mike has done a fantastic job with organizing the sales force, improving insurance coverage and revamping the entire commercialization efforts. And I think he is a great choice for the new CEO. But I just don't see his mark on the Locust Walk PR.
Urbanski is quoted in the PR, not Castagna. And the "non-dilutively" remark is more likely something Matt would say than Mike.
What I read in the PR is that MNKD has hired someone to assist in what they have been trying to do all along, find partners for other technosphere products. This is nothing new.
"In February 2017, Pieris and Locust Walk successfully negotiated an option agreement for PRS-080 between Pieris and ASKA Pharmaceutical for the territories of Japan, South Korea, and other Asian countries, which included a $2.75 M upfront option fee and more than $80M in success-based payments as well as double-digit royalties."
If a similar financial arrangement is envisioned for MNKD technosphere products, this is not going to inject enough funds into MNKD coffers to support the commercialization of Afrezza.
Frankly, I don't see anything here that would have raised an objection from Matt or that probably was not already being worked before Matt stepped down as CEO. It has only been 5 business days since Castanga became CEO. What I do see is that everything is being carefully and artfully orchestrated to show momentum.
Certainly the Biomm distribution agreement didn't just happen the day after Mike takes over as CEO. But the optics are incredibly good. Same with Locust Walk.
If anything I see Kresa working in the background.
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Post by mango on Jun 5, 2017 11:41:04 GMT -5
• MannKind's outside corporate counsel is Cooley LLP. • Barbara Kosacz —Partner at Cooley LLP —Locust Walk Business Advisory Board —Barbara Kosacz is the international head of the firm's life sciences practice and serves on Cooley's management committee. Barbara has over 25 years of experience in counseling clients in the life sciences arena. Her clients range from early-stage startups to larger public companies, and include venture funds, investment banks and non-profit institutions. — Some of Barbara's recent representative transactions include NGM Pharmaceuticals' strategic collaboration with Merck involving a broad sponsored research program in the areas of diabetes, obesity and other chronic indications, as well as substantial equity investment by Merck; the formation and financing of Outpost Medicine, a new company created to pursue the development and commercialization of TAK-233, a clinical stage compound licensed from Takeda; the out-licensing by Versartis, Inc. of the exclusive Japanese rights to somavaratan, its novel, long-acting rhGH product, to Teijin; the sale of Calibrium (founded by former founders of Mercadia Biotech), along with MB2, LLC (both founded by former founders of Mercadia Biotech), to Novo Nordisk; and Cell Medica’s exclusive collaboration and co- development partnership with the Baylor College of Medicine for the creation of next-generation cellular immunotherapy products for cancer. • Barbara Kosacs Locust Walk Bio www.locustwalk.com/about-us/our-team/business-advisory-board/barbara-kosacz/• Barbara Kosacs Cooley LLP Bio www.cooley.com/people/barbara-kosacz
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Post by peppy on Jun 5, 2017 11:41:26 GMT -5
Sorry, I don't know what all the kudos for Castagna are about. I do think Mike has done a fantastic job with organizing the sales force, improving insurance coverage and revamping the entire commercialization efforts. And I think he is a great choice for the new CEO. But I just don't see his mark on the Locust Walk PR. Urbanski is quoted in the PR, not Castagna. And the "non-dilutively" remark is more likely something Matt would say than Mike. What I read in the PR is that MNKD has hired someone to assist in what they have been trying to do all along, find partners for other technosphere products. This is nothing new. "In February 2017, Pieris and Locust Walk successfully negotiated an option agreement for PRS-080 between Pieris and ASKA Pharmaceutical for the territories of Japan, South Korea, and other Asian countries, which included a $2.75 M upfront option fee and more than $80M in success-based payments as well as double-digit royalties." If a similar financial arrangement is envisioned for MNKD technosphere products, this is not going to inject enough funds into MNKD coffers to support the commercialization of Afrezza. Frankly, I don't see anything here that would have raised an objection from Matt or that probably was not already being worked before Matt stepped down as CEO. It has only been 5 business days since Castanga became CEO. What I do see is that everything is being carefully and artfully orchestrated to show momentum. Certainly the Biomm distribution agreement didn't just happen the day after Mike takes over as CEO. But the optics are incredibly good. Same with Locust Walk. If anything I see Kresa working in the background. Kresa has been on the board since I have owned the stock, from 10 dollars to 14 cents. It is about time he is doing something. People talking about him like he is a good thing. hmmmm
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Post by tingtongtung on Jun 5, 2017 13:59:42 GMT -5
• MannKind's outside corporate counsel is Cooley LLP. • Barbara Kosacz —Partner at Cooley LLP —Locust Walk Business Advisory Board —Barbara Kosacz is the international head of the firm's life sciences practice and serves on Cooley's management committee. Barbara has over 25 years of experience in counseling clients in the life sciences arena. Her clients range from early-stage startups to larger public companies, and include venture funds, investment banks and non-profit institutions. — Some of Barbara's recent representative transactions include NGM Pharmaceuticals' strategic collaboration with Merck involving a broad sponsored research program in the areas of diabetes, obesity and other chronic indications, as well as substantial equity investment by Merck; the formation and financing of Outpost Medicine, a new company created to pursue the development and commercialization of TAK-233, a clinical stage compound licensed from Takeda; the out-licensing by Versartis, Inc. of the exclusive Japanese rights to somavaratan, its novel, long-acting rhGH product, to Teijin; the sale of Calibrium (founded by former founders of Mercadia Biotech), along with MB2, LLC (both founded by former founders of Mercadia Biotech), to Novo Nordisk; and Cell Medica’s exclusive collaboration and co- development partnership with the Baylor College of Medicine for the creation of next-generation cellular immunotherapy products for cancer. • Barbara Kosacs Locust Walk Bio www.locustwalk.com/about-us/our-team/business-advisory-board/barbara-kosacz/• Barbara Kosacs Cooley LLP Bio www.cooley.com/people/barbara-kosaczAnd, they have "Dale Pfost" to go with Pfeffer.. Just kidding guys...
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Post by cyn on Jun 5, 2017 14:18:04 GMT -5
How much is Mannkind paying for their services? It seems like an awkward time to be going off on a tangent to promote technosphere. I would think money invested in DTC ads would have a better chance of providing a more worthwhile return on investment. I don't view this move as "going off on a tangent," but rather employing a "comprehensive" corporate strategy to potentially extend the operational runway and enhance corporate value. Imo, employing Locust Walk to seek out strategic alternatives (i.e. partnerships, etc....) to develop MNKD's non-insulin pipeline candidates was an absolute must and should have been done months ago. This is a long-awaited positive, offensive move that can potentially boost existing pipeline value, attract new investment sources, and promote marketability and EV if it becomes necessary to sell off assets and/or company. It's a race against time, and imo to do otherwise and not explore such options would be poor, inept corporate governance.
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Post by slugworth008 on Jun 5, 2017 14:45:26 GMT -5
Agreed. Hakan Tried to get TS partnerships to step up as well. Remember? "Ah yes, I remember it well."
Which do you think was worse?Matts position of strength or Hakans "Call me" conference call closings? The 'embarrassment of riches' comment tops the list in my book -
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Post by lennymnkd on Jun 5, 2017 14:55:59 GMT -5
It's not over yet ! Locust Walk has a lot to work with ... they must feel like they scored !
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Post by peppy on Jun 5, 2017 14:59:33 GMT -5
Which do you think was worse?Matts position of strength or Hakans "Call me" conference call closings? The 'embarrassment of riches' comment tops the list in my book - yeah, that was a fun conference call. The Sanofi sample order, earnings call. The lines were humming. costs lowered by fully running lines. Matt was happy about it.
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Post by anderson on Jun 5, 2017 18:39:22 GMT -5
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Post by falconquest on Jun 5, 2017 21:07:38 GMT -5
MannKind Engages Locust Walk to Explore Strategic Options for MannKind's Non-insulin Technosphere-based Pipeline Candidates VALENCIA, Calif., June 05, 2017 (GLOBE NEWSWIRE) -- MannKind Corporation (Nasdaq:MNKD) (TASE:MNKD), focused on the discovery, development and commercialization of therapeutic products, announces its decision to explore strategic and financial alternatives for MannKind's novel Technosphere-based pipeline candidates. This Technosphere platform is characterized by an ultra-rapid onset of action, simple and needle-free administration, avoidance of hepatic metabolism, and improved bioavailability. Continuing MannKind's strong desire to help patients, Locust Walk will seek strategic partners and investors to non-dilutively advance the development of Technosphere-based therapies which demonstrate benefit across a variety of treatment areas, including but not limited to hypertension, anaphylactic shock, nausea, respiratory disease and pain. "MannKind has focused its financial resources on the commercialization of Afrezza and is seeking alternate means to fund our other development programs for the Technosphere platform. I am excited to collaborate with Locust Walk, who has extensive global experience in pharmaceutical partnering, to help bring our product candidates to market, such as Epinephrine Technosphere® for anaphylaxis, Trepostinil Technosphere® for pulmonary arterial hypertension, and Palonosetron Technosphere® for chemotherapy-induced nausea and vomiting," said Raymond Urbanski, Chief Medical Officer of MannKind Corporation. About MannKind Corporation MannKind Corporation (NASDAQ:MNKD) (TASE:MNKD) focuses on the discovery, development and commercialization of therapeutic products for patients with diseases such as diabetes. MannKind maintains a website at www.mannkindcorp.com to which MannKind regularly posts copies of its press releases as well as additional information about MannKind. Interested persons can subscribe on the MannKind website to e-mail alerts that are sent automatically when MannKind issues press releases, files its reports with the Securities and Exchange Commission or posts certain other information to the website. Forward-Looking Statements This press release contains forward-looking statements that involve risks and uncertainties, including statements regarding MannKind's intention to out-license potential pharmaceutical products. Words such as "believes", "anticipates", "plans", "expects", "intend", "will", "goal", "potential" and similar expressions are intended to identify forward-looking statements. These forward-looking statements are based upon the MannKind's current expectations. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of these risks and uncertainties, which include, without limitation, the ability to obtain regulatory approvals, the availability of satisfactory deal terms and other risks detailed in MannKind's filings with the Securities and Exchange Commission, including the Annual Report on Form 10-K for the year ended December 31, 2016 and subsequent periodic reports on Form 10-Q and current reports on Form 8-K. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. All forward-looking statements are qualified in their entirety by this cautionary statement, and MannKind undertakes no obligation to revise or update any forward-looking statements to reflect events or circumstances after the date of this press release. Company Contact: Rose Alinaya Acting CFO 661-775-5300 ralinaya@mannkindcorp.com Why didn't Hakan do this years ago? Just sayin'.
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