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Post by suebeeee1 on Nov 20, 2015 11:20:51 GMT -5
Will Hakan dump his shares in MNKD ? Does he still believe & keep them or buy more? I have no idea.... At least, if he does sell them, they won't show up as insider trading..... |
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Post by benyiju on Nov 20, 2015 11:21:24 GMT -5
I think you're right, jeremg, the one short-term positive here is more proof of Al Mann's commitment to final success of MNKD. Probably not enough to calm mkt, though. For that he needs to pony up more $ for loan guarantees. Come on, Al, put (more) money where your mouth is!
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Post by uvula on Nov 20, 2015 11:22:46 GMT -5
I'm not saying this is going to happen, but wouldn't Al making himself the ceo be the first step if he wanted to take the company private?
As much as I like Al I am concerned about having a 90 year old ceo with no one available to step in if necessary.
The only good thing about today's event is it shows that Al is not going to give up on afrezza.
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Post by thsloppy on Nov 20, 2015 11:24:09 GMT -5
As some of you may remember from my previous posts, I worked directly for Hakan Edstrom and have mixed feelings about today's announcement. On one hand, I feel bad for Hakan as I think he was pushed out and was allowed to save face by "resigning,"... we all know that things were not going well. On the other hand, I feel good that this is going to be for the best long-term success for MNKD. Hakan is genuinely a nice man and often inspired many of us working for him. He made some tough decisions along the way (that I saw personally) and he handled them like a champ. I never saw one harsh word between Hakan and Al. (Al does occasionally raise his voice, but it's never personal and always for the benefit of the company) Both were always passionate about Afrezza. They had tremendous mutual trust and respect... at least when I was there and I don't see how that would have changed since it was probably Al's urging which made Hakan the CEO. Unfortunately, it just didn't work out. Perhaps being a "nice guy" does not work in this environment. Hakan had to be a more aggressive, communicative and assertive leader, but that is just not in his nature. Also, I have to be honest here and say that during the last conference call, Hakan did not sound the same as he did when I worked at MNKD. His voice was a bit weaker/slurred and his decision to publicly plea for partnerships was not in line with what I remember him doing when I was at the company. Back then, he would have rightly looked down on that as desperate, which leads me to believe he may have some cognitive issues. I know he has had health problems (unrelated to his insulin levels) but it's only speculation as to what effect they had and frankly, pointless to dwell on it now since it's a moot point. I sincerely wish him well and hope he doesn't leave with a bitter taste in his mouth because there are a lot of us who still think the world of him and appreciate his calm, fair demeanor... even when times were tough and uncertain. Thank you for that perspective. I think you said it best when you said it just didn't work out. I think we need aggressive right now...especially with Sanofi. They are doing a !@#$% job and it is clear we are only a small part of their puzzle. Reality...Scripts have barely moved in 6 months. 100 here or there is NOT growth. Afrezzauser has gotten more scripts than Sanofi. I'm not sure what the exit terms are, but I think WE should be thinking about termination...not the other way around. Finding a new partner that prioritizes Afrezza may be our best move. Unless we start seeing growth of 500-1000 each week we are going down hard. |
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Post by suebeeee1 on Nov 20, 2015 11:23:46 GMT -5
I think you're right, jeremg, the one short-term positive here is more proof of Al Mann's commitment to final success of MNKD. Probably not enough to calm mkt, though. For that he needs to pony up more $ for loan guarantees. Come on, Al, put (more) money where your mouth is! Al already has so much money in this company, that should he put more money into it, the only thing that would portray is how desperate the situation is. Rather, we need leadership, vision, focus, activity and communications. THAT is what we need from Al (more than cash). |
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Post by benyiju on Nov 20, 2015 11:29:06 GMT -5
We're not going to get any of those things from Al, @suebee. He's 90+ years old. All we can get from him is A) a respected name as placeholder CEO for the (hopefully) short period it takes to find a real CEO and maybe B) more money for loan guarantees. Actually, also nice would be C) a BOD shakeup for future health of MNKD.
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Post by jeremg on Nov 20, 2015 11:29:23 GMT -5
I think you're right, jeremg, the one short-term positive here is more proof of Al Mann's commitment to final success of MNKD. Probably not enough to calm mkt, though. For that he needs to pony up more $ for loan guarantees. Come on, Al, put (more) money where your mouth is! Oh I think with Al now back at the helm and showing he is VERY much still involved, there is no way we are facing bankruptcy in the near future. I'm confident riding Al's coattail at this point (since that's all we've got left really) even if he were to figure a financing scheme to take the company private, I feel I would be made [almost] whole given my cost basis. I hope he doesn't go that route though so we can all share in the future riches  |
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Post by pengiep on Nov 20, 2015 11:34:44 GMT -5
If he sells his shares now, he's an even bigger dumbass than his performance as CEO suggested. What a strange situation in which his leaving results in a bump in share price. One wonders if that bump upon leaving would be why he left?
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Post by rrtzmd on Nov 20, 2015 11:34:57 GMT -5
I think it's premature to presume that Hakan was given a choice of resign or be fired. After all, Hakan has been there like 10-15 years already, so firing him now is a bit like calling the fire department after the house has burned down. Plus, as I understood it, he was Al'Mann's personal choice to be CEO back when he was originally hired and also when Al retired. Also, why fire him -- as opposed to finding a new CEO and then just replacing him? Then the news might have been perceived in a more positive light. As it is, with no explanation coming from the company, all investors see is that the ship has lost its captain. Al, while great, is still 90 years old and even though only "interim CEO," investors are bound to wonder if he is up to handling MNKD's current situation.
So I think one, at least, should reflect on the possibility that Hakan resigned because he either didn't like getting blamed and taking fire from critics -- perhaps for things over which he had no control over -- and/or, possibly,he didn't like what he saw looming on the horizon.
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Post by ricguy on Nov 20, 2015 11:45:09 GMT -5
I think it's premature to presume that Hakan was given a choice of resign or be fired. After all, Hakan has been there like 10-15 years already, so firing him now is a bit like calling the fire department after the house has burned down. Plus, as I understood it, he was Al'Mann's personal choice to be CEO back when he was originally hired and also when Al retired. Also, why fire him -- as opposed to finding a new CEO and then just replacing him? Then the news might have been perceived in a more positive light. As it is, with no explanation coming from the company, all investors see is that the ship has lost its captain. Al, while great, is still 90 years old and even though only "interim CEO," investors are bound to wonder if he is up to handling MNKD's current situation. So I think one, at least, should reflect on the possibility that Hakan resigned because he either didn't like getting blamed and taking fire from critics -- perhaps for things over which he had no control over -- and/or, possibly,he didn't like what he saw looming on the horizon. Buyout,Buyin,Taking Private,Bankruptcy, No TS partner interest, something else... I am still trying to figure out why he said what he did on the call as far as TS partners, I think there was something behind that, it was to off the wall. |
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Post by mbseeking on Nov 20, 2015 11:46:04 GMT -5
For a CEO in biotech like MNKD there will always be things looming over the horizon, most of which are out of his control. Same for a sailboat captain in the high seas .. But a lot of those companies dont fail and most sailboats dont sink. That's what good leaders (and skippers) are for.
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Post by ricguy on Nov 20, 2015 11:47:28 GMT -5
Would love to see a new qualified CEO step in and scoop up shares.
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Post by kball on Nov 20, 2015 12:14:35 GMT -5
Anyone got a scorecard?
So if i'm remembering correctly in the last several months thats the head of business development, the CEO and 1/3 the workforce.
Perhaps all this bad news has been priced into the stock as the smart money saw these for what they actually were (and i didn't want to look)
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Post by mnkdorbust on Nov 20, 2015 12:34:01 GMT -5
Will Hakan dump his shares in MNKD ? Does he still believe & keep them or buy more? I have no idea.... At least, if he does sell them, they won't show up as insider trading..... Makes me wonder if this has anything to do with the 4 million plus shares that were traded yesterday that weren't reported through Nasdaq? Golden parachute? |
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Post by longinvstr on Nov 20, 2015 12:56:57 GMT -5
Mine's so filled with X's, looping arrows, and question marks, it is no longer legible.  I've considered, too, that one, or more, of the institutional investors became activist investors. Today's pps lift may be them putting their money where their mouth was. |
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