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Post by prcgorman2 on Jun 22, 2023 13:23:43 GMT -5
More frequent messaging could be a tonic against the shorts, particularly naked shorts. Drumming up a little consistent volume would help prevent the vacuums that they love to operate in. Potentially. The converse could also be argued. Limited communications keeps the story less complicated and dynamic and easier to manage in terms of being aware and informed and able to rebuff BS from bashers. The INHALE-3 news in the "MannKind Launches Inhale-3 Study" thread earlier today is a good example. It understandably will be some time before we see another update (is my assumption), and that's ok. The news is interesting and noteworthy and not fluffy noise which is what is more likely to be published if "updates" are too frequent.
All that said, your argument is not entirely unpersuasive, and I especially like your focus on tamping down actors attempting to leverage the quiet with foo.
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Post by mytakeonit on Jun 22, 2023 14:20:51 GMT -5
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Post by markado on Aug 22, 2023 10:47:53 GMT -5
Phenomenal. Heh. Please MC, deliver more than a crap sandwich via door dash. You are compensated well beyond your (non)delivery of sustainable shareholder value, at this point, and MANY are taking notice.
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Post by ktim on Aug 22, 2023 21:45:25 GMT -5
Phenomenal. Heh. Please MC, deliver more than a crap sandwich via door dash. You are compensated well beyond your (non)delivery of sustainable shareholder value, at this point, and MANY are taking notice. The day before he was appointed CEO, we were trading at $1.28. That was 6.25 years ago. Using today's closing we're sitting on 255% gain since then, or 22.5% annualized. Granted, NASDAQ is up 172% over the same period... 17.3% annualized. I suspect Mike's outperformance will look even better by end of year. |
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Post by markado on Aug 22, 2023 22:36:38 GMT -5
Phenomenal. Heh. Please MC, deliver more than a crap sandwich via door dash. You are compensated well beyond your (non)delivery of sustainable shareholder value, at this point, and MANY are taking notice. The day before he was appointed CEO, we were trading at $1.28. That was 6.25 years ago. Using today's closing we're sitting on 255% gain since then, or 22.5% annualized. Granted, NASDAQ is up 172% over the same period... 17.3% annualized. I suspect Mike's outperformance will look even better by end of year. ktim, your analysis fails to account for share value dilution since 2017. I've owned the bulk of my shares since before then, so provided share count expansion from 110M shares post reverse split to today's count of 268M and growing, my shares have been diluted by 58%. So, what looks like 255% on paper in fact for LTS' may look like 125%, at best, and for many much worse. This translates to a 13.9% rate of return inclusive of dilution, so underperforming the NASDAQ throughout the length of his term. Hence LTS frustration and impatience. I do hope that by year's end MC's performance won't just look better, but will in fact actually (dilution included) be better than the NASDAQs performance since he was elevated to CEO from the CCO position in 2017. It would be a welcomed change. |
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Post by letitride on Aug 23, 2023 1:51:02 GMT -5
2017 BK was on the table 2023 profitability is on the table. When the SP was under a dollar I bought like Im buying today. Get it!
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Post by markado on Aug 23, 2023 7:48:07 GMT -5
Agreed, LIR - I took advantage of averaging down over the years. I'm just ready for this ride to begin it's long up and to the right ascent, rather than act like a bucking bronco.
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Post by prcgorman2 on Aug 23, 2023 8:11:07 GMT -5
I’ve owned shares since 2013 before the FDA’s Advisory Committee overcame the prediliction of the FDA to prevent Afrezza from coming to market. I’m just as ready as the next person for a sustained increase in share price.
My view on this journey is, however, still opposite of yours Markado. letitride said it more eloquently than I can, but his point that Mike Castagna (now Dr. Mike Castagna) was given the CEO position with a company on the brink of bankruptcy but now on the brink of profitability, is solid. Mike Castagna got the CEO position because he earned it, just as he earned his PharmaD (completing the process while trying to rescue a dying company). He was hired A) because he sought to work at MannKind because of his belief in Afrezza as a “life-changing” mealtime insulin, and B) because he had experience as an executive at Amgen “re-launching” drugs.
Afrezza was in the situation of needing to be re-launched because of the failed worldwide marketing agreement that Sanofi signed and then cancelled all in less than 12 months (thanks to a change in their CEOs).
It was a Herculean task. It was almost unimaginable that Mike would succeed. He conceded in an interview in his first year that only about 35% of drugs which re-launch are successful. Now think about the chances of re-launching a revolutionary (and expensive) new insulin and building a salesforce from scratch and saving the company into the bargain.
It’s no wonder the shorts went ape devaluing the stock with enough naked shorting to force the SEC to add MNKD to the SHO list. The reverse split was committed by then CEO Matt Pfeffer because he had to get the share price above $1 or have MNKD delisted from NASDAQ. Mike inherited the CEO position when, as he put it, “there was less than a quarter’s worth of cash on hand”. Put yourself in his shoes. What steps would you have taken if you were in that position and had to raise cash to keep MannKind a “going concern”? They were in deep debt and the Mann Group sold almost all of their shares out of fiduciary duty. The fact that we’re still here to discuss this history and our impatience is a testimony to a metric crap ton of bad news and hard work to recover from it.
I’m impatient too, but I’m grateful to be here eagerly awaiting the payoff which for a very long time seemed quite nearly impossible. I don’t forget where we’ve been and I am relieved we have a positive outlook. Could the performance have been better? Well, I suppose, but so much better that I should be bitter about the current state of the company? Not in my view.
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Post by hellodolly on Aug 23, 2023 8:48:58 GMT -5
I’ve owned shares since 2013 before the FDA’s Advisory Committee overcame the prediliction of the FDA to prevent Afrezza from coming to market. I’m just as ready as the next person for a sustained increase in share price. My view on this journey is, however, still opposite of yours Markado. letitride said it more eloquently than I can, but his point that Mike Castagna (now Dr. Mike Castagna) was given the CEO position with a company on the brink of bankruptcy but now on the brink of profitability, is solid. Mike Castagna got the CEO position because he earned it, just as he earned his PharmaD (completing the process while trying to rescue a dying company). He was hired A) because he sought to work at MannKind because of his belief in Afrezza as a “life-changing” mealtime insulin, and B) because he had experience as an executive at Amgen “re-launching” drugs. Afrezza was in the situation of needing to be re-launched because of the failed worldwide marketing agreement that Sanofi signed and then cancelled all in less than 12 months (thanks to a change in their CEOs). It was a Herculean task. It was almost unimaginable that Mike would succeed. He conceded in an interview in his first year that only about 35% of drugs which re-launch are successful. Now think about the chances of re-launching a revolutionary (and expensive) new insulin and building a salesforce from scratch and saving the company into the bargain. It’s no wonder the shorts went ape devaluing the stock with enough naked shorting to force the SEC to add MNKD to the SHO list. The reverse split was committed by then CEO Matt Pfeffer because he had to get the share price above $1 or have MNKD delisted from NASDAQ. Mike inherited the CEO position when, as he put it, “there was less than a quarter’s worth of cash on hand”. Put yourself in his shoes. What steps would you have taken if you were in that position and had to raise cash to keep MannKind a “going concern”? They were in deep debt and the Mann Group sold almost all of their shares out of fiduciary duty. The fact that we’re still here to discuss this history and our impatience is a testimony to a metric crap ton of bad news and hard work to recover from it. I’m impatient too, but I’m grateful to be here eagerly awaiting the payoff which for a very long time seemed quite nearly impossible. I don’t forget where we’ve been and I am relieved we have a positive outlook. Could the performance have been better? Well, I suppose, but so much better that I should be bitter about the current state of the company? Not in my view. Thus, why he is more than deserving of every bit of his compensation awards and the rights to sell them in order to partake in that achievement. |
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Post by akemp3000 on Aug 23, 2023 8:56:45 GMT -5
When MC became CEO, most all contributors posting at the time were continuing to offer advice on how to sell Afrezza. He attempted a few marketing trials that didn't work likely because of insufficient money and testing. Fortunately and instead, MC trashed the company's old business model which had been solely dependent on the success of Afrezza. He replaced it with the new and current business model based on growing the pipeline and the company being a TS drug development company versus a manufacturer. This was Al's vision all along.
MC's new direction for the company preceded and led to the deal with United Therapeutics and some others that haven't yet come to fruition. He also directed an impressive financial turn around. MC's confidence to ignore advice and make these changes likely came from his education at Wharton and global experience with BPs. Regardless, the results are now clear with a strong pipeline potential, much improved financials and a better foundation for Afrezza with pediatric approval and important competitive testing now in sight. IMO, profitability and the runup in share price is coming sooner rather than later. This of course has been predicted many times over the years but never with the solid foundation that exists today.
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Post by agedhippie on Aug 23, 2023 9:59:54 GMT -5
What Mike did was what any business advisor would tell you to do. If you are running out of money to operate your choices are sell assets or borrow money. There was no capacity for further borrowing, the physical assets were already mortgaged, the only remaining asset was the stock so Mike did the obvious and expanding and selling off the float. This is really 101 stuff and not the work of a genius CEO.
In my view what saved MNKD was Martine. Until that time Mike was attempting (and failing) to relaunch Afrezza, dipping toes in the water with some drugs but lacking the funds to follow through, and keeping the business afloat by diluting the shareholders - it wasn't Mike that saved the company it was you long term shareholders! Oddly, it was also the traders because without the volume that there was nobody would have bought the share placements. Volume meant that there was liquidity and you could get in and out of a position. This was pretty awful for investors, you keep getting your stock devalued, but it kept the company afloat.
TLDR? Mike is a pretty average CEO who got a lucky break. Although as a CEO I knew once said, success is remaining in business until the lucky break that lets the company take off.
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Post by peppy on Aug 23, 2023 10:32:31 GMT -5
What Mike did was what any business advisor would tell you to do. If you are running out of money to operate your choices are sell assets or borrow money. There was no capacity for further borrowing, the physical assets were already mortgaged, the only remaining asset was the stock so Mike did the obvious and expanding and selling off the float. This is really 101 stuff and not the work of a genius CEO. In my view what saved MNKD was Martine. Until that time Mike was attempting (and failing) to relaunch Afrezza, dipping toes in the water with some drugs but lacking the funds to follow through, and keeping the business afloat by diluting the shareholders - it wasn't Mike that saved the company it was you long term shareholders! Oddly, it was also the traders because without the volume that there was nobody would have bought the share placements. Volume meant that there was liquidity and you could get in and out of a position. This was pretty awful for investors, you keep getting your stock devalued, but it kept the company afloat. TLDR? Mike is a pretty average CEO who got a lucky break. Although as a CEO I knew once said, success is remaining in business until the lucky break that lets the company take off. Quote from above, "In my view what saved MNKD was Martine." When other Pharma see the effectiveness and revenue Technosphere brings into UTHR; perhaps they will see a medication that would benefit them and give Mike a call. |
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Post by mango on Aug 23, 2023 11:18:49 GMT -5
The day before he was appointed CEO, we were trading at $1.28. That was 6.25 years ago. Using today's closing we're sitting on 255% gain since then, or 22.5% annualized. Granted, NASDAQ is up 172% over the same period... 17.3% annualized. I suspect Mike's outperformance will look even better by end of year. ktim, your analysis fails to account for share value dilution since 2017. I've owned the bulk of my shares since before then, so provided share count expansion from 110M shares post reverse split to today's count of 268M and growing, my shares have been diluted by 58%. So, what looks like 255% on paper in fact for LTS' may look like 125%, at best, and for many much worse. This translates to a 13.9% rate of return inclusive of dilution, so underperforming the NASDAQ throughout the length of his term. Hence LTS frustration and impatience. I do hope that by year's end MC's performance won't just look better, but will in fact actually (dilution included) be better than the NASDAQs performance since he was elevated to CEO from the CCO position in 2017. It would be a welcomed change. It’s true some shareholders are severely underwater for whatever reason. It’s ironic that Mike mentioned selling all his MannKind shares (before he ever worked here) before Sanofi sandbagged MannKind. He said he saw it coming. Why didn’t others see it coming? Further, I’ve been invested since 2016, before the reverse split implemented by Matt Pfiefer. I bought again after the RS and I sit at a $2.05 PPS average with well over 100% gain. You do not speak for all Longs! |
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Post by mango on Aug 23, 2023 11:21:20 GMT -5
What Mike did was what any business advisor would tell you to do. If you are running out of money to operate your choices are sell assets or borrow money. There was no capacity for further borrowing, the physical assets were already mortgaged, the only remaining asset was the stock so Mike did the obvious and expanding and selling off the float. This is really 101 stuff and not the work of a genius CEO. In my view what saved MNKD was Martine. Until that time Mike was attempting (and failing) to relaunch Afrezza, dipping toes in the water with some drugs but lacking the funds to follow through, and keeping the business afloat by diluting the shareholders - it wasn't Mike that saved the company it was you long term shareholders! Oddly, it was also the traders because without the volume that there was nobody would have bought the share placements. Volume meant that there was liquidity and you could get in and out of a position. This was pretty awful for investors, you keep getting your stock devalued, but it kept the company afloat. TLDR? Mike is a pretty average CEO who got a lucky break. Although as a CEO I knew once said, success is remaining in business until the lucky break that lets the company take off. Martine saved MannKind in the sense of if wasn’t for him signing with Mike we’d be in a different situation. We’d likely kept going through the trials to approval and marketing it alone or taken on a different partner. Let’s not forget that it was Mike who took the risk to develop Tyvaso DPI in the first place and put in through Phase 1. If it weren’t for Mike doing that we’d be SOOL right now. |
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Post by cretin11 on Aug 23, 2023 11:50:34 GMT -5
TLDR? Mike is a pretty average CEO who got a lucky break. Although as a CEO I knew once said, success is remaining in business until the lucky break that lets the company take off. A generous and gracious assessment. |
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