Matt, where are you?
? Traderdennis is trying his darndest, but he needs you!! Answer the call, Matt.
Our resident BK expert and Dendreon expert Matt probably is speaking with S.O. on how to respond.
mnkd.proboards.com/post/157287A couple of quotes/comments from the article:
Matt_PK
Comments440 | + Follow
"It is more like a few weeks of cash. If Deerfield did not agree to take shares and Spencer's other numbers are correct (and generally he is quite accurate) the company is down to around $7-8 million with a weekly burn rate of $2 million.
I seriously doubt they paid DF in cash because if they need time to deal with creditors then they need every penny of available cash to tide them over. No doubt the board has taken legal advice on their options and the lawyers would have advised them to conserve cash no matter which creditor might be upset. The challenge to raising money at this time is that the trading volume has been declining, and PIPE investors like to see lots of liquidity in a stock.
There are not a lot of viable options left."
01 Sep 2018, 09:45 AM Reply
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Matt_PK
Comments440 | + Follow
"Dendreon was a much different situation that I know well because I was engaged as an expert for part of the proceedings so I remember it all very well. The big difference is that DNDN had substantial sales, not enough to cover their expenses but a run rate of over $300 million, had a positive gross margin, and $120 million in cash when they filed. While they were still losing money, DNDN was down to burning about $10 million a quarter, but bankruptcy costs money, a lot of money, and DNDN went through almost all of the cash in the eight months after they filed and shareholders recovered nothing at all.
MNKD does not have the cash they need to pull off a Chapter 11 reorganization because they will run out of cash long before they can put a reorg plan on the table. Unless they have quietly negotiated a prepackaged plan with Deerfield, Amphastar, Mann Group, and the other major creditors, they will not have the room to maneuver in the courtroom if it is a contested case.
Like you said, at this point any rabbit from any hat will do."
If you knew the Dendreon situation well, and engaged as an expert, as well as regarding their sales then you would also know how much each treatment cost and what their coverage was and how the urologists were re-imbursed. While both companies share underwhelming sales that is about the only thing they have in common and the potential for Afrezza is in a whole different class than Provenge was. Actually if you really want to look at the difference, Provenge was the pioneer in becoming the first FDA approved immunotherapy treatment for cancer (prostrate), and unfortunately it only was shown to extend life on average of an additional 3 mos. so the cost and benefit was a huge factor in their sales and coverage along with the cause for poor sales. The cost/benefit for treating both T1/T2 PWD regarding the results being shown with of quickly reducing HbA1c and reduced risk of hypo incidents is the opposite end of the spectrum compared to Provenge's efficacy/benefit.
There are two major reasons why Dendreon failed as a company:
1. Dendreon's drug, Provenge only provided a limited benefit to prostate cancer patients, something like another 3 months of survival. Another drug was launched around the same time called Zytiga added 5.2 months, so Provenge certainly wasn't the only option.
2. Dendreon's drug required urologists to buy the drug at a cost of $90K and then wait for insurance to reimburse them. Urologists don't typically do this, so they hesitated to use it. Zytiga is just a pill, so urologists were much more comfortable just writing a prescription rather than risking $100K per patient.
Sources:
www.forbes.com/sites/matthewherper/2011/08/04/dendreons-scientific-breakthrough-fails-to-sell/#6d73ee993c43www.quora.com/What-are-the-major-reasons-behind-the-fall-of-Dendreon
? Traderdennis is trying his darndest, but he needs you!! Answer the call, Matt. 
