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Post by trenddiver on Nov 16, 2015 12:05:13 GMT -5
9. Senior management should show their commitment to the company by buying shares in the open market. If management, with all the non-public information in front of them, were to purchase shares in the open market at these low prices it would be a major blow to the short interests and would encourage buying by many longs sitting on the fence. Trend Trend, thanks for the suggestion. I have added your suggestion to my original post. Compound, Your post was among the best I've ever seen on this board. I hope you follow through with the suggestion to forward your post to Matt and Hakan. Trend
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Post by Deleted on Nov 16, 2015 12:29:26 GMT -5
has these been sent to management yet?
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Post by trenddiver on Nov 16, 2015 12:30:12 GMT -5
The only important thing to change right now is much stronger effort to get the insurance situation right. I am sure mgt is working as hard as they can on the other points. The additional information we need is why SNY with all its world wide presence has not filed applications in more countries and when they plan to do so. I agree that from a business standpoint your points are very valid. However even if those business issues are solved in the near term, Mannkind will still have significant cash requirements over the next couple of years. But Mannkind must address these cash flow requirements NOW. Every competent CFO and business owner knows that you have to address cash needs way in advance of the actual need. Mannkind should have raised several hundred million dollars a year ago, when the SP was much higher. When you seek capital at a time when cash is needed, the cost (dilution) becomes very expensive as we have seen recently. I lay this criticism directly in the lap of Big Al and Matt, they should know better. The short interest bankruptcy argument must be taken off the table with a well thought out capital raising effort. Mannkind must be able to capitalize on its Technosphere technology without having to make a bad deal because of its short term cash needs. Trend
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Post by compound26 on Nov 16, 2015 12:32:00 GMT -5
Trend, thanks for the suggestion. I have added your suggestion to my original post. Compound, Your post was among the best I've ever seen on this board. I hope you follow through with the suggestion to forward your post to Matt and Hakan. Trend I actually sent an email to Matt last night, outlining the points raised in my original post. I have not heard anything back yet. I think you guys may also consider writing to Matt (mpfeffer@mannkindcorp.com) and Hakan (I do not have his email address) to emphasize the importance of putting our financing in order. If I was running Mannkind, I would not ever let its cash balance to dip below $100 million. Under a normal circumstance, I would like to keep it at around $300 million level and ideally at $500 million level. But now what we got from the management. I am still a strong believer in Afrezza and I do not mind Mannkind spending another five years to slowly make it a blockbuster. But, to do that, they have to first ensure that they can survive for another five years and show that to the world. If they can do that, Mannkind will be a winner.
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Post by doctorgreenback on Nov 16, 2015 12:32:23 GMT -5
are we still in a quiet period?
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Post by mssciguy on Nov 16, 2015 12:38:33 GMT -5
are we still in a quiet period? you really expect an answer to that?
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Post by bradleysbest on Nov 16, 2015 12:38:55 GMT -5
SHHHHHHH....Yes we are!
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Post by Deleted on Nov 16, 2015 12:39:10 GMT -5
are we still in a quiet period? was that a sarcastic remark ? lol
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Post by compound26 on Nov 16, 2015 12:42:42 GMT -5
Does anyone have Hakan's email address?
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Post by mindovermatter on Nov 16, 2015 12:45:04 GMT -5
Compound, Your post was among the best I've ever seen on this board. I hope you follow through with the suggestion to forward your post to Matt and Hakan. Trend I actually sent an email to Matt last night, outline the points raised in my original post. I have not heard anything back yet. I think you guys may also consider writing to Matt (mpfeffer@mannkindcorp.com) to emphasize the importance of put our financing in order. If I was running Mannkind, I would not ever let its cash balance to dip below $100 million. Under a normal circumstance, I would like to keep it at around $300 million level and ideally at $500 million level. But now what we got from the management. I am still a strong believer in Afrezza and I do not mind Mannkind spending another five years to slowly make it a blockbuster. But, to do that, they have to first ensure that they can survive for another five years and show that to the world. If they can do that, Mannkind will be a winner. I applaud you for writing to CFO, but what do you think he'll be able to tell you that will change anything? He legally can not get into details of what is going on and you already know that. The company is in an awkward position right now. The best thing it can do is show it can move its technosphere program forward with a new drug candidate and partner. But does anyone think that is going to happen by the end of the year? I don't.
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Post by Deleted on Nov 16, 2015 13:10:15 GMT -5
I actually sent an email to Matt last night, outline the points raised in my original post. I have not heard anything back yet. I think you guys may also consider writing to Matt (mpfeffer@mannkindcorp.com) to emphasize the importance of put our financing in order. If I was running Mannkind, I would not ever let its cash balance to dip below $100 million. Under a normal circumstance, I would like to keep it at around $300 million level and ideally at $500 million level. But now what we got from the management. I am still a strong believer in Afrezza and I do not mind Mannkind spending another five years to slowly make it a blockbuster. But, to do that, they have to first ensure that they can survive for another five years and show that to the world. If they can do that, Mannkind will be a winner. I applaud you for writing to CFO, but what do you think he'll be able to tell you that will change anything? He legally can not get into details of what is going on and you already know that. The company is in an awkward position right now. The best thing it can do is show it can move its technosphere program forward with a new drug candidate and partner. But does anyone think that is going to happen by the end of the year? I don't. Doesnt matter if he will respond back or not.. But we got to do what we have to do and giving suggestions isnt a bad thing.. some times people tend to forget the basics.. Hopefully this was sent to Hakan and Al and all other Directors
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Post by compound26 on Nov 16, 2015 13:11:20 GMT -5
I actually sent an email to Matt last night, outline the points raised in my original post. I have not heard anything back yet. I think you guys may also consider writing to Matt (mpfeffer@mannkindcorp.com) to emphasize the importance of put our financing in order. If I was running Mannkind, I would not ever let its cash balance to dip below $100 million. Under a normal circumstance, I would like to keep it at around $300 million level and ideally at $500 million level. But now what we got from the management. I am still a strong believer in Afrezza and I do not mind Mannkind spending another five years to slowly make it a blockbuster. But, to do that, they have to first ensure that they can survive for another five years and show that to the world. If they can do that, Mannkind will be a winner. I applaud you for writing to CFO, but what do you think he'll be able to tell you that will change anything? He legally can not get into details of what is going on and you already know that. The company is in an awkward position right now. The best thing it can do is show it can move its technosphere program forward with a new drug candidate and partner. But does anyone think that is going to happen by the end of the year? I don't. I do not expect to hear much from Matt. But an email acknowledgment from him saying that he received the email and are taking actions to address the financing needs will be great. I understand he probably can not disclose any details, that is fine. My main objective for writing the email is to persuade them that they have been too short-term oriented in arranging financing in the last several quarters. This has to change.
We have to take actions to take the rumors about bankruptcy off the table. With such rumors being recycled daily by the street.com, fool.com, etc., those rumors, while not true, are not good to the morale of the employees, the confidence of the shareholders and investors, and the image of Mannkind to the users of Afrezza and potential partners of TS applications.
If we look back over the last several years, Mannkind has never had cash balance over $200 million since 2008, with most quarters the cash balance was actually below $100 million. This is not good financial planning. In 2014, we had Adcom meeting (positive), FDA approval (positive), and announcement of major partnership with Sanofi (positive) and PPS in double digits. In beginning of 2015, we had formal launch of Afrezza (positive). In June of 2015, we had a great analyst report that drove the PPS from $3 to $7 in a few weeks. And yet, no additional capital was raised on any of those occasions. Did management think Mannkind will not need any additional cash in the coming years?And then, most recently, we saw Mannkind's press release that our cash balance was reduced to $32.9 million, without any accompanying update on back-up financing. And they left the press release out there for a whole trading day (waiting to be attached by shorts) by scheduling the conference call in the afternoon after the market! I certainly hope Mannkind can first raise some capital via a new TS partnership. But they have to act quickly. As another member have posted, on a day when the major indexes are up more than 0.5%, we are still down 7%. At this point, the waiting game will hurt Mannkind more and more. Therefore, I think management needs to take some decisive action right now. How about increasing Mann Group's loan facility by just $50 million (instead of by $70 million to $100 million as I suggested earlier)? That still sends a message and buys some time for Mannkind to arrange for other financing.
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Post by babaoriley on Nov 16, 2015 13:17:47 GMT -5
Not to make light of this fine thread at all, but I thought I'd interject the following regarding suggestions:
At a private golf club I used to play infrequently, one thing always made me chuckle. Off to the right of the 18th tee was a very tall tree. Affixed to it, about 30 feet up, was a wooden box, with a slit, as if for mail. Written on it were the words "Suggestion Box."
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Post by jeremg on Nov 16, 2015 13:42:50 GMT -5
are we still in a quiet period? Yes, management is napping until 2Q 2016.
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Post by mssciguy on Nov 16, 2015 13:48:15 GMT -5
visibility for Afrezza is very poor. Here is the google trends result for Afrezza prntscr.com/93hjqxSuggestion to mgmt: 1. Take a confidence building course. You can do it!!! 2. Say something.
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