New Head of Sales (of Afrezza)
Nov 26, 2018 12:58:03 GMT -5
sportsrancho, sweedee79, and 4 more like this
Post by compound26 on Nov 26, 2018 12:58:03 GMT -5
In the last CC, Mike said the following about Afrezza prescriptions:
seekingalpha.com/article/4217121-mannkind-corporation-mnkd-ceo-michael-castagna-q3-2018-results-earnings-call-transcript?part=single
Next comment here is around our prescription. So we look at there is two sets of data. Some of you see weekly data on the internet. I will talk about prescriber data which is little more detailed that is given to the public for the Bloomberg Terminals. The data here is based on prescriber data. And we have see -- over the last five weeks, we have broken 600 and in few weeks we have come closed to 700 scripts a week.
We are breaking 685 and 670 numbers consistently now as we go forward. We look forward to breaking through 700. But what you can see year-to-date, we are up almost 70% growth versus the same period last year. And we have had double digit growth from Q1 to Q2 and Q2 to Q3. We continue to expect to see it further growing for years to come. Another question we often get is around our base business and our new member, Rx versus NRx.
I want to continue to show this data so that you guys have transparency that our base business continues to grow year-over-year and was up 74% year-to-date 2018 versus 2017 and our new NBRx, which is new to brand treatment, is up 51% year-over-year. So, we continue to see very positive momentum. We continue to see great new prescribers joining us every week, and then make prescribing increasing.
We all want it faster. And in closing Q3, I want to let you know about several changes we made in Q4 that you should be aware of. One, we transitioned to a new head of sales who had deep diabetes background and relationships, who will be instrumental in helping us recruit and retain talent given the competitive job market.
Number two, we have hired several new marketers starting with Garrett, our Chief Marketing Officer, who we previously announced. Now that we have stabilized our company and our future prospects, she is working on a plan to put Afrezza back on track to becoming major growth driver over the coming years.
Three, we continue to be prudent with our capital allocation by holding openings and spend where appropriate as we rebalance our company priorities to include tremendous focus on the Technosphere platform balanced by driving Afrezza growth in the near term.
And finally, we are building out our program management office and business development functions as we believe these will be critical as we transition our company back to a growth engine.
That said, I will now turn it over to Steve.
__________________________________________________________________________________________
Interestingly, someone posted something in a comment to MK's post on Linkedin regarding this new Head of Sales.
www.linkedin.com/feed/update/urn%3Ali%3Aactivity%3A6465598969106964480/?commentUrn=urn%3Ali%3Acomment%3A%28activity%3A6465517304221364224%2C6465598901989703680%29
Michael Kovacocy 3w
MNKD - I stand by everything I wrote yesterday. But that said, upon further reflection, I think management owes it to shareholders to give an accurate analysis of actual versus guided performance. I was wrong for letting them off too easily on this point. It encourages bad behaviour and reduced market trust going forward. As much as there exists some personal delicacies and major differences between myself and Spencer, I do agree that management needs to do a proper mea culpa on the guidance issue if they indeed are going to miss already lowered targets. Guidance is important because one’s word is important. Delivering to expectations is important. It is the professional thing to do to properly address exactly why one has fallen so short of the bar.
D M.
Michael, great questions yesterday. Appreciate your insight and intellect. Mannkind has turned a corner. Lots of pivots in '18 that clearly reallocated time & $ to non-Afrezza opportunities. I understand your comments above but in fairness to Mike, in your final question your words were "I think I'll finish up with that" and in conjunction with earlier comments about offline discussions may have led Mike to believe you were done with your questions. Sounds to me like Mike would always welcome a conversation with you offline or during a CC. Side note: small company has little or no margin for error. The problem with sales leadership was very detrimental. The new person in charge will have a positive, measurable impact given both their demeanor and diabetes knowledge.
__________________________________________________________________________________________
Wondering when we will see some effect of this new Head of Sales as reflected in the form of improved weekly NRx? Anyone has any insight, knowledge or thoughts on this?
seekingalpha.com/article/4217121-mannkind-corporation-mnkd-ceo-michael-castagna-q3-2018-results-earnings-call-transcript?part=single
Next comment here is around our prescription. So we look at there is two sets of data. Some of you see weekly data on the internet. I will talk about prescriber data which is little more detailed that is given to the public for the Bloomberg Terminals. The data here is based on prescriber data. And we have see -- over the last five weeks, we have broken 600 and in few weeks we have come closed to 700 scripts a week.
We are breaking 685 and 670 numbers consistently now as we go forward. We look forward to breaking through 700. But what you can see year-to-date, we are up almost 70% growth versus the same period last year. And we have had double digit growth from Q1 to Q2 and Q2 to Q3. We continue to expect to see it further growing for years to come. Another question we often get is around our base business and our new member, Rx versus NRx.
I want to continue to show this data so that you guys have transparency that our base business continues to grow year-over-year and was up 74% year-to-date 2018 versus 2017 and our new NBRx, which is new to brand treatment, is up 51% year-over-year. So, we continue to see very positive momentum. We continue to see great new prescribers joining us every week, and then make prescribing increasing.
We all want it faster. And in closing Q3, I want to let you know about several changes we made in Q4 that you should be aware of. One, we transitioned to a new head of sales who had deep diabetes background and relationships, who will be instrumental in helping us recruit and retain talent given the competitive job market.
Number two, we have hired several new marketers starting with Garrett, our Chief Marketing Officer, who we previously announced. Now that we have stabilized our company and our future prospects, she is working on a plan to put Afrezza back on track to becoming major growth driver over the coming years.
Three, we continue to be prudent with our capital allocation by holding openings and spend where appropriate as we rebalance our company priorities to include tremendous focus on the Technosphere platform balanced by driving Afrezza growth in the near term.
And finally, we are building out our program management office and business development functions as we believe these will be critical as we transition our company back to a growth engine.
That said, I will now turn it over to Steve.
__________________________________________________________________________________________
Interestingly, someone posted something in a comment to MK's post on Linkedin regarding this new Head of Sales.
www.linkedin.com/feed/update/urn%3Ali%3Aactivity%3A6465598969106964480/?commentUrn=urn%3Ali%3Acomment%3A%28activity%3A6465517304221364224%2C6465598901989703680%29
Michael Kovacocy 3w
MNKD - I stand by everything I wrote yesterday. But that said, upon further reflection, I think management owes it to shareholders to give an accurate analysis of actual versus guided performance. I was wrong for letting them off too easily on this point. It encourages bad behaviour and reduced market trust going forward. As much as there exists some personal delicacies and major differences between myself and Spencer, I do agree that management needs to do a proper mea culpa on the guidance issue if they indeed are going to miss already lowered targets. Guidance is important because one’s word is important. Delivering to expectations is important. It is the professional thing to do to properly address exactly why one has fallen so short of the bar.
D M.
Michael, great questions yesterday. Appreciate your insight and intellect. Mannkind has turned a corner. Lots of pivots in '18 that clearly reallocated time & $ to non-Afrezza opportunities. I understand your comments above but in fairness to Mike, in your final question your words were "I think I'll finish up with that" and in conjunction with earlier comments about offline discussions may have led Mike to believe you were done with your questions. Sounds to me like Mike would always welcome a conversation with you offline or during a CC. Side note: small company has little or no margin for error. The problem with sales leadership was very detrimental. The new person in charge will have a positive, measurable impact given both their demeanor and diabetes knowledge.
__________________________________________________________________________________________
Wondering when we will see some effect of this new Head of Sales as reflected in the form of improved weekly NRx? Anyone has any insight, knowledge or thoughts on this?
