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Post by longinvstr on Dec 1, 2015 9:17:45 GMT -5
For those of you who have never read about how Martin Shkreli interfered with the FDA process for Afrezza, here is a link to one of the more detailed reports about what happened:
Link: afresa.blogspot.com/2012/01/mannkinds-afrezza-was-to-be-approved.html
Excerpt:
"Now the second part of this scandal. It involves Martin Shkreli, chief investment officer for New York based hedge fund, MSMB Capital Management, LLC. MSMB is notorious for short selling stocks and then creating questionable issues and making negative public comments and projections to drive down the stock price of the companies. In some cases, such as MannKind, he went further for self gain. CREW, the Citizens for Responsibility and Ethics in Washington has requested that the Security and Exchange Commission open an investigation of Martin Shkreli who appears to be illegally manipulating the market prices of stocks in the biotechnology and pharmaceutical industries. CREW claims Martin Shkreli has attempted to insert himself into the FDA approval process of at least 4 pending drugs in which he held a short position by contacting several FDA officials and working behind the scenes to affect the outcome of the FDA regulatory process. His claims to the FDA, arguably were biased and possibly fraudulent." >>I think Martin Shkreli and his company should be thoroughly investigated and the FDA also has some explaining to do.<< IMHO, and quite ironically, it is the corruption and dysfunction at the FDA that protects Shkreli. We are unable/unwilling to pull the sheets off any agency that may reflect corruption, ineptitude and/or political motive. Exhibits A, B, C, D ...... The VA continues its ways & bonus levels at all time high ... The IRS, not a smidgen (b/c evidence was destroyed) ... and on, and on. The ONLY hope is for the press to reform itself and begin doing what professional journalists are supposed to do = provide the last firewall of checks/balances against govt's self-serving inclination. Still hoping the FBI/Justice Dept does its job RE private servers/classified emails. I know, I'm a moron |
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Post by Deleted on Dec 1, 2015 13:27:34 GMT -5
I just feel bad for the patients that need this drug. A $1 alternative: Express Scripts, the nation's largest pharmacy benefits manager, said Tuesday that it will partner with Imprimis Pharmaceuticals, a small drug compounder that recently began making an alternative medicine for $1 a capsule. The partnership would make the pill available to millions of people whose pharmacy benefit is managed by Express Scripts. |
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Post by stevil on Dec 3, 2015 15:05:11 GMT -5
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Post by longinvstr on Dec 3, 2015 16:15:45 GMT -5
I always thought that there are two kinds of A-holes. The version that is ignorant of their status and the version that is well aware. I'm not sure which of the two is worse but am confident he is well aware and, maybe, even relishes the role. The true joys and satisfactions of life he will never know
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Post by Deleted on Dec 4, 2015 9:10:59 GMT -5
lol.. Martin is a seasoned WS Crook/smart...You have to be one to raise $$$ and increase market cap.. There's a lot that MNKD management team need to learn how to raise $$$
approximately $8.2 million in exchange for the issuance to investors of 280,170 shares of common stock of the Companyfor a company that was closing its door... finance.yahoo.com/news/kalobios-pharmaceuticals-inc-raises-8-221600275.html |
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Post by orlon on Dec 4, 2015 14:14:15 GMT -5
lol.. Martin is a seasoned WS Crook/smart...You have to be one to raise $$$ and increase market cap.. There's a lot that MNKD management team need to learn how to raise $$$
approximately $8.2 million in exchange for the issuance to investors of 280,170 shares of common stock of the Companyfor a company that was closing its door... finance.yahoo.com/news/kalobios-pharmaceuticals-inc-raises-8-221600275.htmlSo here we have a guy who declares himself a "true capitalists" who takes a company trading for less than a buck, no product and a failed Phase two trial, worth 10-15 million, and watches the stock takeoff to $45.00 +-, with still no product. Then there's MNKD, persevered through the FDA trials and finally got approval for a life changing drug, and according to early adopters AFREZZA is great. And here we are, less than $2.00/shr today. Dollars and cents wise, the true capitalist wins, while many of us are either are treading water or under water, are getting screwed. |
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Post by longinvstr on Dec 4, 2015 14:52:06 GMT -5
lol.. Martin is a seasoned WS Crook/smart...You have to be one to raise $$$ and increase market cap.. There's a lot that MNKD management team need to learn how to raise $$$
approximately $8.2 million in exchange for the issuance to investors of 280,170 shares of common stock of the Companyfor a company that was closing its door... finance.yahoo.com/news/kalobios-pharmaceuticals-inc-raises-8-221600275.htmlSo here we have a guy who declares himself a "true capitalists" who takes a company trading for less than a buck, no product and a failed Phase two trial, worth 10-15 million, and watches the stock takeoff to $45.00 +-, with still no product. Then there's MNKD, persevered through the FDA trials and finally got approval for a life changing drug, and according to early adopters AFREZZA is great. And here we are, less than $2.00/shr today. And, it turns out that USA's greatest male athlete ... is female.  Much of world appears to me to be upside down but I still believe that justice is eventually and inevitably served. Like the rest of the world correcting its way to justice, we're (blindly) walking a protracted, serpentine path. |
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Post by mssciguy on Dec 4, 2015 21:18:26 GMT -5
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Post by mssciguy on Dec 4, 2015 21:42:10 GMT -5
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Post by Deleted on Dec 6, 2015 7:13:05 GMT -5
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Post by mindovermatter on Dec 6, 2015 8:06:23 GMT -5
Has Adam Feuerstein yet made any comments about KBIO and it's absurb valuation based on its lackluster pipeline? I haven't yet seen a word from him on Martin, KBIO or anything regarding the situation. Maybe I just missed it but if my observation is correct, I find it interesting that Adam, the guy who loves to point out problems with biotechs, has remained strangely quiet about his buddy Martin. But maybe that is by design. |
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Post by Deleted on Dec 30, 2015 21:18:14 GMT -5
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Post by kbrion77 on Dec 31, 2015 9:11:51 GMT -5
sound business move for Martin - state something he has done illegal... Manipulation is very broad statement.. yes - he made out millions ...it might look manipulation ... what if MNKD went tommorrow to 20... becos Al buys 50 million shares in open market? will you call that manipulation? Al buying shares into his OWN company, and it probably wouldn't even budge the share price. Everyone is entitled to their own opinion but I'm going to go out on a limb and say we will be hearing about this situation some time from now and the term business acumen will not be used anyway near it. Well this took a little longer than I suspected but are you still feeling Martin still has solid business acumen and this was a sound business move? Are you done looking up to him now? |
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Post by Deleted on Dec 31, 2015 10:01:50 GMT -5
Al buying shares into his OWN company, and it probably wouldn't even budge the share price. Everyone is entitled to their own opinion but I'm going to go out on a limb and say we will be hearing about this situation some time from now and the term business acumen will not be used anyway near it. Well this took a little longer than I suspected but are you still feeling Martin still has solid business acumen and this was a sound business move? Are you done looking up to him now? Yes. If you look @ it objectively. Unless you mix the securities fraud and his arrest and cloud the whole thing...I am not looking at the end result He picked a weak company, low float, took majority position, ( not sure how much he believes in its pipeline product , but he did portray that it has potential ), stopped lending his shares, raised $$$ by selling some shares through private placement.. |
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Much of world appears to me to be upside down but I still believe that justice is eventually and inevitably served. Like the rest of the world correcting its way to justice, we're (blindly) walking a protracted, serpentine path.