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Post by phdedieu12 on Aug 3, 2020 14:15:05 GMT -5
Always interesting to look back at what didn't work and assess blame. It reminds me of Philadelphia running Andy Reed out of town for failing to win the Superbowl, only to get the job done in KC. While there are many reasons for all the shortcomings we all lament on, would the company still be here if it weren't for Mike?? The sinking ship is still floating, and I for one am glad that my shares are still worth something.
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Post by pat on Aug 3, 2020 14:28:38 GMT -5
Somebody wake me up when the TreT money hits pls...
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Post by sportsrancho on Aug 3, 2020 14:54:02 GMT -5
Somebody wake me up when the TreT money hits pls... Oh no ..does that mean no scrips for months:-) |
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Post by sportsrancho on Aug 3, 2020 15:57:41 GMT -5
Word for word truth. I’m going to clarify something.. my intuition tells me matts post it’s very close to being accurate... my life experience tells me aged’s post is 100% correct. Sports - I see it some what different. MNKD can continue doing large studies and they will continue to get the exact same results. With T1s, A1c will be about the same as using an RAA with significantly better post prandial numbers and a significant reduction in hypos. We saw it with the Affinity 1. We saw it with STAT. We see it with Intell's posting today of onlinelibrary.wiley.com/doi/abs/10.1111/1753-0407.13099?af=R. Without second dosing and/or a change in basal dosage little A1c change will be seen. Then again we know the FDA's position on second dosing from the ADCON. The called out the doctor who did it and had significantly better A1c numbers as cheating. For T2s the Affintity II study says it all. Use the afrezza and you will have better numbers. In fact Dr. Kendall saw so much study data all saying afrezza was the greatest improvement in diabetic care in 100 years he said this would be the easiest job he ever had. At the same times Aged is now taking an SGLT2 and not afrezza says it all. Any half way decent endo should be prescribing afrezza every day of the week and twice on Sunday instead of an SGLT2. How many insulin studies do we need to show early intervention with insulin stops T2 progression? Nothing is going to change until the PWDs can see and understand their numbers. The last time I talked with Bill, VDex was still using the Libre Pro and the PWDs were blinded from their numbers. Hopefully this has changed. By now I had expected CGMs would be in more widespread use. I went to a training course for T2s not long ago and few T2s meter tested let alone after meals and none had a CGM. What we are facing is a marketing problem which includes who is going to pay for this stuff. We have Karen Bass (who might be your congressman) running off to Cuba in search of an ulcer medication when afrezza can stop the root cause of the ulcers. Galindo shows up tomorrow and hope springs eternal. This guy's Medtonic plan is a perfect fit for afrezza. Hopefully he can get a big partnership which can move the market. I bet IBM would love to see Sugar IQ become mainstream. Hopefully Bill has already given Galindo a call. Yes I can see what you mean about the studies. Also Vdex could help with those. They use the Libre for a reason and I doubt that’s going to change. Also like the Medtronic fit. |
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Post by pat on Aug 3, 2020 16:22:23 GMT -5
Somebody wake me up when the TreT money hits pls... Oh no ..does that mean no scrips for months:-) Good point! I will set my alarm... |
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Post by MnkdWASmyRtrmntPlan on Aug 3, 2020 16:48:07 GMT -5
CCI, I have always valued and appreciated your posts. But, like you mentioned, everyone has opinions, and mine are different than what you expressed at the start of this thread.
Whether anyone wants it or not, here’s my opinion 😊:
As the CEO of MNKD, MC is a dud. Now, don’t get me wrong. The CEO of MNKD position is not an easy job. I certainly would not be good at it, and I do not want it. But, maybe we have an advantage from having the perspective of being outside looking in.
Looking at CCI’s failure list: ADA attendance is important because it is advertising to the doctors and endo’s. So, it should not have been eliminated due to cost. I bet there are still docs that think Mannkind and Afrezza went out of business years ago. Doctors need to keep being advertised to.
Damon Dash, Race cars and DTC, though … waste of time and money.
Obviously, the sales force is necessary. But, their job is really too tough and it can be very expensive. So, that expense should be limited until prescriptions pick up (I know, that sounds backwards).
The great financial restructure was more to the credit to the CFO (as it should be) … not the CEO, so MC should not get that credit.
I believe Uvula was correct that the UT deal was the credit of Martine coming to Mannkind (not the other way around) - again, no credit for Mikey.
Casper06 – yoy sales up 55% … Wait, What? I don’t know where that number came from, and I don’t care. Surely some year-long span along MNKD’s timeline would show even larger growth than that. It doesn’t matter. Over 1-year periods, MNKD sales goes up, and it goes down. Who cares, really. A smoothed-average line over MC’s time would not be a pleasing upward trend. To judge the job that MC has done as CEO, a better way would be to look at the stock price change during MC’s entire tenure. MC came on board in March, 2016. On 3/21/16, MNKD stock price was $10.55. Now, it is $1.62. That is an 85% loss in 4 years and 5 months. Putting that very plainly, if you would have invested $100 in MNKD stock when MC started, you would now have $15. Can anyone really think he is successful?
Look, Mannkind’s problem is that sales have been pathetic. MC came to Mannkind as the CCO, so sales should be his strong point.
As usual, Sayhey was spot-on about leveraging the Vdex model with a CGM and connected-care partnership. Hiring Nurse Practitioners (or, Physician Assistants, depending on the state) to do the prescribing instead of doctors is the key. They work much more intimately with the PWDs and get much better patient-results and much better patient-retention. Patients end up very happy, the clinics have tremendous success, and Afrezza sales take off. This is the common sense strategy that MC refuses to accept because it was not his idea, and because he is too arrogant. So, as a result, over MC’s years, sales have been relatively flat. Instead of sales hitting the hockey stick growth curve 2 or 3 years ago, it will probably be another 3 or 4 years (or, maybe only 1 or 2 years if Vdex is able to ramp up). It would also help tremendously if shareholders would wise up at the next board election and finally vote MC out.
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Post by falconquest on Aug 3, 2020 16:58:07 GMT -5
CCI, I have always valued and appreciated your posts. But, like you mentioned, everyone has opinions, and mine are different than what you expressed at the start of this thread. Whether anyone wants it or not, here’s my opinion 😊: As the CEO of MNKD, MC is a dud. Now, don’t get me wrong. The CEO of MNKD position is not an easy job. I certainly would not be good at it, and I do not want it. But, maybe we have an advantage from having the perspective of being outside looking in. Looking at CCI’s failure list: ADA attendance is important because it is advertising to the doctors and endo’s. So, it should not have been eliminated due to cost. I bet there are still docs that think Mannkind and Afrezza went out of business. Doctors need to keep being advertised to. Damon Dash, Race cars and DTC, though … waste of time and money. Obviously, the sales force is necessary. But, their job is really too tough and it can be very expensive. So, that expense should be limited until prescriptions pick up (I know, that sounds backwards). The great financial restructure was more to the credit to the CFO (as it should be) … not the CEO. I believe Uvula was correct that the UT deal was the credit of Martine coming to Mannkind (not the other way around). Casper06 – yoy sales up 55% … Wait, What? I don’t know where that number came from, and I don’t care. Surely some year-long span along MNKD’s timeline would show even larger growth than that. It doesn’t matter. Over 1-year periods, MNKD sales goes up, and it goes down. Who cares, really. A smoothed-average line over MC’s time would not be a pleasing upward trend. To judge the job that MC has done as CEO, a better way would be to look at the stock price change during MC’s entire tenure. MC came on board in March, 2016. On 3/21/16, MNKD stock price was $10.55. Now, it is $1.62. That is an 85% loss in 4 years and 5 months. Putting that very plainly, if you would have invested $100 in MNKD stock when MC started, you would now have $15. Can anyone really think he is successful? Look, Mannkind’s problem is that sales have been pathetic. MC came to Mannkind as the CCO, so sales should be his strong point. As usual, Sayhey was spot-on about leveraging the Vdex model with a CGM and connected-care partnership. Hiring Nurse Practitioners (or, Physician Assistants, depending on the state) to do the prescribing instead of doctors is the key. They work much more intimately with the PWDs and get much better results. Patients end up very happy, the clinics have tremendous success, and Afrezza sales take off. This is the common sense strategy that MC refuses to accept because it was not his idea, and because he is too arrogant. So, as a result, over MC’s years, sales have been relatively flat. Instead of sales hitting the hockey stick growth curve 2 or 3 years ago, it will probably be another 3 or 4 years (or, maybe only 1 or 2 years if Vdex is able to ramp up). It would also help tremendously if shareholders would wise up at the next board election and finally vote MC out. If we could just get that woman who is charge of social media over at VDEX to drum up more interest in Afrezza it would sure help!  |
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Post by sportsrancho on Aug 3, 2020 17:21:51 GMT -5
Someone was talking about EXAS on MNKD ST
I own the stock for the long haul.
This is was they just did...
.
“Reduction of base pay for our chief executive officer to effectively zero, elimination of the Board of Directors annual cash retainer, reducing base salaries for our executive team, and reducing the quarterly sales commissions. We implemented a workforce reduction, involuntary furloughs, work schedule reductions, as well as a voluntary furlough program. Additionally, we reduced investments in marketing and other promotional activities, paused certain clinical trial activities, reduced travel and professional services, and delayed or terminated certain capital projects. We also saw a reduction in certain volume based cost of goods sold expenses consistent with the reduction in revenue.”
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Post by buyitonsale on Aug 3, 2020 17:35:53 GMT -5
"The choice is to abandon the business model or watch the company run in circles indefinitely." TreT is on target to be approved 15 months from now and to be commercialized within 6 months from approval. Is prospect of royalties making short sellers run in circles trying to keep their thesis alive ?  |
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Post by mnkdfann on Aug 3, 2020 17:52:32 GMT -5
Someone was talking about EXAS on MNKD ST I own the stock for the long haul. This is was they just did... . “Reduction of base pay for our chief executive officer to effectively zero, elimination of the Board of Directors annual cash retainer, reducing base salaries for our executive team, and reducing the quarterly sales commissions. We implemented a workforce reduction, involuntary furloughs, work schedule reductions, as well as a voluntary furlough program. Additionally, we reduced investments in marketing and other promotional activities, paused certain clinical trial activities, reduced travel and professional services, and delayed or terminated certain capital projects. We also saw a reduction in certain volume based cost of goods sold expenses consistent with the reduction in revenue.” Mannkind could do some cost savings no doubt, but I think it is sort of apples and oranges comparing EXAS to MNKD. From the 10-Q, it is clear EXAS did this as a result of COVID-19. Also, according to what I see online, the CEO Kevin T. Conroy there made $18,716,543 in total compensation of which only $792,169 was received as a salary (base pay) in 2019. I suspect he'll get many millions again in 2020, even with his base pay cut to zero. Preserve Financial Strength
In order to minimize the adverse impacts to our business and operations anticipated during 2020 due to the COVID-19 pandemic, we initiated proactive measures to achieve cost savings. Actions we have taken include the reduction of base pay for our chief executive officer to effectively zero, elimination of the Board of Directors annual cash retainer, reducing base salaries for our executive team, and reducing the quarterly sales commissions. We implemented a workforce reduction, involuntary furloughs, work schedule reductions, as well as a voluntary furlough program. Additionally, we reduced investments in marketing and other promotional activities, paused certain clinical trial activities, reduced travel and professional services, and delayed or terminated certain capital projects. We also saw a reduction in certain volume based cost of goods sold expenses consistent with the reduction in revenue. These actions are expected to contribute to significant cost savings in 2020. |
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brut
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Post by brut on Aug 3, 2020 18:40:54 GMT -5
CCI, I have always valued and appreciated your posts. But, like you mentioned, everyone has opinions, and mine are different than what you expressed at the start of this thread. Whether anyone wants it or not, here’s my opinion 😊: As the CEO of MNKD, MC is a dud. Now, don’t get me wrong. The CEO of MNKD position is not an easy job. I certainly would not be good at it, and I do not want it. But, maybe we have an advantage from having the perspective of being outside looking in. Looking at CCI’s failure list: ADA attendance is important because it is advertising to the doctors and endo’s. So, it should not have been eliminated due to cost. I bet there are still docs that think Mannkind and Afrezza went out of business years ago. Doctors need to keep being advertised to. Damon Dash, Race cars and DTC, though … waste of time and money. Obviously, the sales force is necessary. But, their job is really too tough and it can be very expensive. So, that expense should be limited until prescriptions pick up (I know, that sounds backwards). The great financial restructure was more to the credit to the CFO (as it should be) … not the CEO, so MC should not get that credit. I believe Uvula was correct that the UT deal was the credit of Martine coming to Mannkind (not the other way around) - again, no credit for Mikey. Casper06 – yoy sales up 55% … Wait, What? I don’t know where that number came from, and I don’t care. Surely some year-long span along MNKD’s timeline would show even larger growth than that. It doesn’t matter. Over 1-year periods, MNKD sales goes up, and it goes down. Who cares, really. A smoothed-average line over MC’s time would not be a pleasing upward trend. To judge the job that MC has done as CEO, a better way would be to look at the stock price change during MC’s entire tenure. MC came on board in March, 2016. On 3/21/16, MNKD stock price was $10.55. Now, it is $1.62. That is an 85% loss in 4 years and 5 months. Putting that very plainly, if you would have invested $100 in MNKD stock when MC started, you would now have $15. Can anyone really think he is successful? Look, Mannkind’s problem is that sales have been pathetic. MC came to Mannkind as the CCO, so sales should be his strong point. As usual, Sayhey was spot-on about leveraging the Vdex model with a CGM and connected-care partnership. Hiring Nurse Practitioners (or, Physician Assistants, depending on the state) to do the prescribing instead of doctors is the key. They work much more intimately with the PWDs and get much better patient-results and much better patient-retention. Patients end up very happy, the clinics have tremendous success, and Afrezza sales take off. This is the common sense strategy that MC refuses to accept because it was not his idea, and because he is too arrogant. So, as a result, over MC’s years, sales have been relatively flat. Instead of sales hitting the hockey stick growth curve 2 or 3 years ago, it will probably be another 3 or 4 years (or, maybe only 1 or 2 years if Vdex is able to ramp up). It would also help tremendously if shareholders would wise up at the next board election and finally vote MC out. I definitely liked your opinion:). The traditional way of marketing and raising awareness will just not work for this drug. My better half is a physician and I bought this stock against very strong advise and have been in it since 2008. My better half just doesn’t want to prescribe it until there is a significant institution like Stanford, Mayo Clinic etc clearly mentioning that the dug is completely safe to use. Nobody wants to be liable and they shouldn’t. That is the #1 hurdle. I know the board thinks pediatric approval will move the needle but I really don’t see scripts significantly increasing because of that. I know we think compliance in kids is low and afrezza is a perfect fit but safety is and will remain the #1 concern that needs to be addressed. People just don’t care about long term benefits of an unproven drug if there is an alternate solution available. See there are millions of people in the US with diabetes. We need 50,000 patients regularly using afrezza. For now, thats the short term goal. There are people who buy Tesla worth 100s of thousands of dollars. Insurance coverage may be an issue but we should have a population set who can afford afrezza. There is no way afrezza will be a market leader quickly. Majority of people will not get over the safety hurdle so this has to be targeted towards type 1 mainly (or type 2 with very less control) for whom the benefits outweighs the perceived risks. This has to be a slow ramp up with all the focus, energy and capital on retaining patients who try afrezza. Hand out free samples, get people to try and follow up with each and everyone of them to make sure they have a great experience with the drug. I have no connections with Vdex and don’t understand all that they do but if their focus is around patients having great experience with the drug, then that’s what we need to do. The question like you said is - will Mike change? |
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Post by agedhippie on Aug 3, 2020 18:44:52 GMT -5
... At the same times Aged is now taking an SGLT2 and not afrezza says it all. Any half way decent endo should be prescribing afrezza every day of the week and twice on Sunday instead of an SGLT2. How many insulin studies do we need to show early intervention with insulin stops T2 progression? Nothing is going to change until the PWDs can see and understand their numbers. The last time I talked with Bill, VDex was still using the Libre Pro and the PWDs were blinded from their numbers. Hopefully this has changed. By now I had expected CGMs would be in more widespread use. I went to a training course for T2s not long ago and few T2s meter tested let alone after meals and none had a CGM. ... You are making the mistaken assumption that I am taking the SGLT2 for diabetes, I am not. The reason for the SGLT2 is because my endo wants all his Type 1 patients on either an ACE inhibitor or SGLT2 because of the heart and kidney protection, He was very clear that the blood sugar impact of the SGLT2 would be minimal. Diabetes is a broken metabolic system of which blood sugar is just the most obvious sign, there are other unrelated issues as well. Type 2 has no obvious penalty until it is to late. People start with the best of intentions, but then inertia takes effect and they slowly drift off course.Testing and then acting on it requires a lifestyle change and sustained lifestyle change is hard or gyms would be a lot more crowded! People start with the best of intentions, but then inertia takes effect and they slowly drift off course until an event prompts them and they go around the loop again. Until the cost of CGMs comes down hugely there will not be significant adoption in the Type 2 group because of costs. The sensor cost is 4 to 5 times the cost of strips for a Libre, more for a Dexcom. |
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Post by mnkdfann on Aug 3, 2020 18:45:40 GMT -5
See there are 100s of millions of people in the US with diabetes. We need 50,000 patients regularly using afrezza. For now, thats the short term goal. There are people who buy Tesla worth 100s of thousands of dollars. Insurance coverage may be an issue but we should have a population set who can afford afrezza. There is no way afrezza will be a market leader quickly. Majority of people will not get over the safety hurdle so this has to be targeted towards type 1 mainly (or type 2 with very less control) for whom the benefits outweighs the perceived risks. This has to be a slow ramp up with all the focus, energy and capital on retaining patients who try afrezza. Hand out free samples, get people to try and follow up with each and everyone of them to make sure they have a great experience with the drug. I have no connections with Vdex and don’t understand all that they do but if their focus is around patients having great experience with the drug, then that’s what we need to do. 100s of millions? You may want to double check your numbers there. Especially if your model depends on there being that large a potential user base. |
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brut
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Post by brut on Aug 3, 2020 18:49:44 GMT -5
See there are 100s of millions of people in the US with diabetes. We need 50,000 patients regularly using afrezza. For now, thats the short term goal. There are people who buy Tesla worth 100s of thousands of dollars. Insurance coverage may be an issue but we should have a population set who can afford afrezza. There is no way afrezza will be a market leader quickly. Majority of people will not get over the safety hurdle so this has to be targeted towards type 1 mainly (or type 2 with very less control) for whom the benefits outweighs the perceived risks. This has to be a slow ramp up with all the focus, energy and capital on retaining patients who try afrezza. Hand out free samples, get people to try and follow up with each and everyone of them to make sure they have a great experience with the drug. I have no connections with Vdex and don’t understand all that they do but if their focus is around patients having great experience with the drug, then that’s what we need to do. 100s of millions? You may want to double check your numbers there. Especially if your model depends on there being that large a potential user base. Thank you. Fixed. I was thinking global but the wrote US. Also see the link from CDC saying 100 million with diabetes and prediabetes. The population is smaller than what I wrote in my original post. www.cdc.gov/media/releases/2017/p0718-diabetes-report.html |
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Post by prcgorman2 on Aug 3, 2020 20:34:27 GMT -5
Oh no ..does that mean no scrips for months:-) Good point! I will set my alarm... NOoo, please! You’ve been helping us get weekly Rx information and while I don’t expect it to rise substantially, I do like to see that it keeps plodding along. |
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