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Post by prcgorman2 on Jan 15, 2022 20:32:16 GMT -5
... I acknowledged that Mike’s performance hasn’t been flawless, but whose performance ever is? Name one well-known or famous person or executive, private or public sector whose career never included a less-than-perfect choice. That person doesn’t exist. The reason I find myself defending Dr. Castagna is because I feel much of the criticism he receives is unfair. ... Lets get this straight. That criticism is not unfair. MC wasted many tens of millions of dollars in his Sales and Marketing experiments and most importantly, YEARS of precious time for his startup company that needed to start making money ASAP. In fact, he almost bankrupted the company. Why? Because he was too stubborn and arrogant to understand how Afrezza needs to be dosed/titrated. He became CEO in March, 2016, so that is going on 6 years. It was about a year ago that he finally announced that he understood that Afrezza needs to be dosed higher than he has been recommending. We all knew that years before that. For FIVE YEARS!!! MC was the CEO at the helm of MNKD driving the ship in the wrong direction. WHY? Because that is what Bill had been saying for all those years and MC was too stubborn and arrogant to accept that fact that Bill was right. And when MC finally did admit that Afrezza needs to be dosed higher, he announced it like as though it was his brilliant discovery. IMHO, MC is the anchor that MNKD dragged for his first 5 years in his term. Sure, convincing Endocrinologists to learn how to dose Afrezza is a challenge, but you will be a certain failure at that job if you give the Endo's the wrong advice. On March 21, 2016, MNKD was at $10.55 in today's terms (i.e., post split). So, in almost 6 years, MC has taken SP from $10.55 down to 88 cents, and now is not even $4.00. You can't pick some arbitrary point along the timeline and say that MC has tripled the SP in that time. Sure, it was down to 88 cents and now it is almost $4.00. But, when MC became CEO, it was $10.55. THAT's the only number that can be used to measure MC's performance as CEO, and the fact is that the SP is less than half what it was when he became CEO. So, for the past 6 years ... HE HAS BEEN A FAILURE!!! Unlike MTOI, you need to put down the wine glass before posting a rant like that. Name the date MNKD was over $10 since Dr. Castagna joined Mannkind. It hasn’t been over $10 since 2014. I’m pretty certain MC joined in 2016 and became CEO in 2017. Look at Earl Grey’s charts of Afrezza sales and revenue. And, look at the share price in 2016 and look at it now. And, there was crushing debt on awful terms when Dr. Castagna took over. The last refinance had people on this board remarking about how good the terms were and wondering how Mannkind merited them. The cash position and the revenue is the best it’s been since Dr. Castagna joined the company. And, let’s not forget this little pipeline company is on the cusp of making low double-digit royalties on the partnership with UTHR, which also was managed during Dr. Castagna’s tenure. By any objective measure, he’s been successful. |
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Post by nylefty on Jan 15, 2022 20:51:56 GMT -5
MC was named CEO on May 25th, 2017, NOT in "March 2016." He became CEO after the reverse split.
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Post by letitride on Jan 15, 2022 21:03:35 GMT -5
... I acknowledged that Mike’s performance hasn’t been flawless, but whose performance ever is? Name one well-known or famous person or executive, private or public sector whose career never included a less-than-perfect choice. That person doesn’t exist. The reason I find myself defending Dr. Castagna is because I feel much of the criticism he receives is unfair. ... Lets get this straight. That criticism is not unfair. MC wasted many tens of millions of dollars in his Sales and Marketing experiments and most importantly, YEARS of precious time for his startup company that needed to start making money ASAP. In fact, he almost bankrupted the company. Why? Because he was too stubborn and arrogant to understand how Afrezza needs to be dosed/titrated. He became CEO in March, 2016, so that is going on 6 years. It was about a year ago that he finally announced that he understood that Afrezza needs to be dosed higher than he has been recommending. We all knew that years before that. For FIVE YEARS!!! MC was the CEO at the helm of MNKD driving the ship in the wrong direction. WHY? Because that is what Bill had been saying for all those years and MC was too stubborn and arrogant to accept that fact that Bill was right. And when MC finally did admit that Afrezza needs to be dosed higher, he announced it like as though it was his brilliant discovery. IMHO, MC is the anchor that MNKD dragged for his first 5 years in his term. Sure, convincing Endocrinologists to learn how to dose Afrezza is a challenge, but you will be a certain failure at that job if you give the Endo's the wrong advice. On March 21, 2016, MNKD was at $10.55 in today's terms (i.e., post split). So, in almost 6 years, MC has taken SP from $10.55 down to 88 cents, and now is not even $4.00. You can't pick some arbitrary point along the timeline and say that MC has tripled the SP in that time. Sure, it was down to 88 cents and now it is almost $4.00. But, when MC became CEO, it was $10.55. THAT's the only number that can be used to measure MC's performance as CEO, and the fact is that the SP is less than half what it was when he became CEO. So, for the past 6 years ... HE HAS BEEN A FAILURE!!! Glad I dont have your your plan. MINE IS GROWING MORE SUCCESSFUL EVERYDAY!!!!!!!!!!!!!! |
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Post by nylefty on Jan 15, 2022 22:24:21 GMT -5
So does anybody know what our stock price was on the actual day (May 25th, 2017) that MC was named CEO? It certainly wasn't anywhere near "$10.55."
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Post by prcgorman2 on Jan 15, 2022 22:32:58 GMT -5
So does anybody know what our stock price was on the actual day (May 25th, 2017) that MC was named CEO? It certainly wasn't anywhere near "$10.55." Yahoo! Finance shows MNKD was $1.52 on May 22nd, 2017. |
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Post by nylefty on Jan 15, 2022 23:24:01 GMT -5
So does anybody know what our stock price was on the actual day (May 25th, 2017) that MC was named CEO? It certainly wasn't anywhere near "$10.55." Yahoo! Finance shows MNKD was $1.52 on May 22nd, 2017. So the claim that "the SP is less than half what it was when he became CEO" is nonsense since it's considerably more than doubled since Mike was named CEO. |
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Post by goyocafe on Jan 16, 2022 16:29:28 GMT -5
So MC gets a complete pass for the time he spent as chief COMMERCIAL officer? Gee, you’d think that title would carry some expectation of performance. Check the sp back in 2016 when he took the reins of the marketing department. March 14, 2016. SP=$7.05
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Post by nylefty on Jan 16, 2022 17:15:12 GMT -5
So MC gets a complete pass for the time he spent as chief COMMERCIAL officer? Gee, you’d think that title would carry some expectation of performance. Check the sp back in 2016 when he took the reins of the marketing department. March 14, 2016. SP=$7.05 I thought the consensus on this board was that the CEO was all-powerful and should be blamed or credited for everything that happened. But now you're saying that was only true after MC was named CEO? Alejandro Galindo is the chief COMMERCIAL officer now. Should we blame him for the stock price? |
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Post by sportsrancho on Jan 16, 2022 17:24:35 GMT -5
Worst investment of my lifetime, …but greatest adventure.
No we should not blame AG for anything….he brings a renewed excitement around Afrezza.
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Post by mymann on Jan 16, 2022 17:43:08 GMT -5
When Mike made that comment, "rest and grow ", I thought he had something up his sleeve but turned out he actually meant it. Nothing to see here fokes,just hope our mother ship UTHR carries us out of this slump.
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Post by prcgorman2 on Jan 16, 2022 18:07:36 GMT -5
So MC gets a complete pass for the time he spent as chief COMMERCIAL officer? Gee, you’d think that title would carry some expectation of performance. Check the sp back in 2016 when he took the reins of the marketing department. March 14, 2016. SP=$7.05 So the Commercial Officer is to be blamed for a SP in free fall after a 1:5 reverse stock split by his CEO? Hmmm, I’m guessing the Commercial Officer didn’t have a lot to say about that financial move by Matt Pfeffer who, for awhile, was both the CEO and the CFO. And, why would you want to pin that on the Commercial Officer? Dr. Castagna was promoted by the Board of Directors a year later. He had almost no money to use to market Afrezza and as has been said over and over on this board, the issue isn’t whether there is adequate advertising and sales force, the issue is doctors are reluctant to prescribe insulin, and they’re not comfortable with the current studies, the lack of recommendation as the Standard of Care, and they don’t like having to mess with Prior Authorizations. Insurance coverage is still an issue, and these are not easy problems to solve quickly, or they would have been solved despite Dr. Castagna. Those ARE marketing problems that the Commercial Officer doesn’t have the luxury of fixing. And they take a lot of time and money to solve. Money is finally available, (thanks to Dr. Castagna and team) but we’re still smack dab in the middle of the worst global pandemic of all time. I see a lot of impatience and frankly I am very impatient, with posters who think the issues that were handed to Dr. Castagna to handle were easy and trivial and if only he was good at what he did, we would all be swimming in “an embarassment of riches”. |
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Post by sportsrancho on Jan 16, 2022 18:39:42 GMT -5
Covid is peaking in New York and we’re 2 to 3 weeks behind them …by Presidents’ Day we should be out of this. Mandates will be lifted in California February 15.
Doctor visits should go back to normal. I would expect to see more advertisement at that time.
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Post by letitride on Jan 16, 2022 18:45:44 GMT -5
If your short here I can understand your displeasure with management. If your long here and not pleased with management maybe you need to learn to be patient Rome wasnt built in a day. And if your a trader here and not happy then your probably not good at it. As for me Im going to continue to buy more shares and be confident this is one of the greatest investments of my life.
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Post by peppy on Jan 16, 2022 18:49:53 GMT -5
So does anybody know what our stock price was on the actual day (May 25th, 2017) that MC was named CEO? It certainly wasn't anywhere near "$10.55." The low for the week $1.14, the high for the week, $1.68. (Coming off the .67 low the week of May 1st.)  |
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Post by uvula on Jan 16, 2022 19:26:33 GMT -5
Would anyone here turn down a $20/share offer for the company? I would be thrilled if this happens.
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