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Post by mnkdfann on Nov 20, 2015 16:21:35 GMT -5
Perhaps Sanofi wanted him out? Get a new and effective CEO, or we bail?
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Post by dreamboatcruise on Nov 20, 2015 16:35:10 GMT -5
Perhaps Sanofi wanted him out? Get a new and effective CEO, or we bail? That's rather out there. What that MNKD is responsible for with regard to partnership is being done ineffectively? We've had not a hint that MNKD is failing in any of its responsibilities to SNY.
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Post by bthomas55ep on Nov 20, 2015 16:52:00 GMT -5
Another angle could be that after the limited success of the TASE equity raise that the decision was made that the company had to be sold. If that is the case, then there is only one person to do that negotiation and no need for the overhead of a lame duck CEO?
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Post by EveningOfTheDay on Nov 20, 2015 17:00:54 GMT -5
There is always the very real possibility, even though in the past I have had a really hard time accepting this, that Sanofi is on his way out. Hakan not having been able to negotiate a single Technosphere deal, is not the most indicated person to renegotiate an Afrezza deal. Yes, more speculation to add to the fire, but unfortunately that is all we are left with. One thing is not speculation anymore, but mostly true is that the situation in MNKD, other than for that glimmer of hope that happen when we got approval and partnered up, is much much worst than I thought possible. Whether Mr. Mann will be able to turn it around or not is anybody's guess, but it is starting to look more and more as a failed enterprise. I said it often, if it was not because Afrezza works I would not be hanging around. Now I am even starting to question if they will be ever able to take advantage of it, or if the most likely outcome is someone coming along, buying it for cheap, and making a fortune after taking over. What I do know for sure is that this is bad all around.
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Post by dreamboatcruise on Nov 20, 2015 17:04:37 GMT -5
There is always the very real possibility, even though in the past I have had a really hard time accepting this, that Sanofi is on his way out. Hakan not having been able to negotiate a single Technosphere deal, is not the most indicated person to renegotiate an Afrezza deal. Yes, more speculation to add to the fire, but unfortunately that is all we are left with. One thing is not speculation anymore, but mostly true is that the situation in MNKD, other than for that glimmer of hope that happen when we got approval and partnered up, is much much worst than I thought possible. Whether Mr. Mann will be able to turn it around or not is anybody's guess, but it is starting to look more and more as a failed enterprise. I said it often, if it was not because Afrezza works I would not be hanging around. Now I am even starting to question if they will be ever able to take advantage of it, or if the most likely outcome is someone coming along, buying it for cheap, and making a fortune after taking over. What I do know for sure is that this is bad all around. So you think Al would sell out on the cheap and take a big loss on his investment?
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Post by bthomas55ep on Nov 20, 2015 17:09:18 GMT -5
DBC - It is getting late in the day (no pun intended towards eveningoftheday) and, as a result, I do believe Al Mann would be smart enough to salvage the most he could in lieu of the alternative (bankruptcy). Your question is a bit like - do you think Joe Montana would ever let the 49er's lose the Super Bowl. We'll, not on his effort. He would give it everything he had, however, there is another team involved and the possibility exists that a win may be out of his control.
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Post by jeremg on Nov 20, 2015 17:14:37 GMT -5
There is always the very real possibility, even though in the past I have had a really hard time accepting this, that Sanofi is on his way out. Hakan not having been able to negotiate a single Technosphere deal, is not the most indicated person to renegotiate an Afrezza deal. Yes, more speculation to add to the fire, but unfortunately that is all we are left with. One thing is not speculation anymore, but mostly true is that the situation in MNKD, other than for that glimmer of hope that happen when we got approval and partnered up, is much much worst than I thought possible. Whether Mr. Mann will be able to turn it around or not is anybody's guess, but it is starting to look more and more as a failed enterprise. I said it often, if it was not because Afrezza works I would not be hanging around. Now I am even starting to question if they will be ever able to take advantage of it, or if the most likely outcome is someone coming along, buying it for cheap, and making a fortune after taking over. What I do know for sure is that this is bad all around. Just as Hakan's booting was unfortunate but necessary, I think MNKD going its separate way may also turn out to be necessary if the worst comes to pass. I could only hope SNY would be the one to walk away in that case as we would have the upper hand per the contract agreement. My worst fear is that SNY has us trapped and their intentions are not honest in which case they simply starve us out in some years long purgatory (like what we are in currently). I don't actually see a scenario where they would choose to walk away from us though, it would be more beneficial for them to "wait it out" without any regard for MNKD as a company OR actually choose to make this drug a success. I've always said Afrezza works and works well BUT that is of no consequence any longer, it's simply a fact we know to be true, but does not have any further influence on the outcome at this point. Sales are not dependent on whether Afrezza works or not at this point, they are dependent on what SNY chooses to do with Afrezza. Al had no clue what corruption he would be facing when he first said "take care of the patients first", there are no patients for lack of commitment on SNY's part, and there is soon to be no stock value per the will of WS. This is bad all around, but today was good not because it shows us what turmoil exists (and now we know the company is in complete and utter disarray) but because it shows Al is doing something to save the company and fight back.
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Post by stevil on Nov 20, 2015 17:15:35 GMT -5
There is always the very real possibility, even though in the past I have had a really hard time accepting this, that Sanofi is on his way out. Hakan not having been able to negotiate a single Technosphere deal, is not the most indicated person to renegotiate an Afrezza deal. Yes, more speculation to add to the fire, but unfortunately that is all we are left with. One thing is not speculation anymore, but mostly true is that the situation in MNKD, other than for that glimmer of hope that happen when we got approval and partnered up, is much much worst than I thought possible. Whether Mr. Mann will be able to turn it around or not is anybody's guess, but it is starting to look more and more as a failed enterprise. I said it often, if it was not because Afrezza works I would not be hanging around. Now I am even starting to question if they will be ever able to take advantage of it, or if the most likely outcome is someone coming along, buying it for cheap, and making a fortune after taking over. What I do know for sure is that this is bad all around. So you think Al would sell out on the cheap and take a big loss on his investment? the only issue I have with this is it would not be kosher (oh geez) to list on the TASE and screw his kin over. If Al was going to liquidate the company, the TASE listing doesn't make sense, does it? I'm beginning to think Al was starting to get restless awhile ago and began getting more and more involved, leading to the TASE listing. I think Al is doing everything in his power to keep this thing afloat. He's already stated that his family is set financially and he's going to donate whatever excess income he has when he dies to charity. I think he's going out swinging on this one... he's really got nothing to lose. JMO.
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Post by saxcmann on Nov 20, 2015 17:15:48 GMT -5
There is always the very real possibility, even though in the past I have had a really hard time accepting this, that Sanofi is on his way out. I can almost guarantee you (99% sure) that your first sentence above is not true. Sny is committed to afrezza in 2016.
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Post by jeremg on Nov 20, 2015 17:20:46 GMT -5
There is always the very real possibility, even though in the past I have had a really hard time accepting this, that Sanofi is on his way out. Hakan not having been able to negotiate a single Technosphere deal, is not the most indicated person to renegotiate an Afrezza deal. Yes, more speculation to add to the fire, but unfortunately that is all we are left with. One thing is not speculation anymore, but mostly true is that the situation in MNKD, other than for that glimmer of hope that happen when we got approval and partnered up, is much much worst than I thought possible. Whether Mr. Mann will be able to turn it around or not is anybody's guess, but it is starting to look more and more as a failed enterprise. I said it often, if it was not because Afrezza works I would not be hanging around. Now I am even starting to question if they will be ever able to take advantage of it, or if the most likely outcome is someone coming along, buying it for cheap, and making a fortune after taking over. What I do know for sure is that this is bad all around. So you think Al would sell out on the cheap and take a big loss on his investment? Al's cost basis is around $6, right? I think he is willing to go down with his ship if need be, but maybe - just maybe, if presented with a fair offer and the confidence this new entity will do right by his legacy, he may just sell for a small premium.
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Post by dreamboatcruise on Nov 20, 2015 17:23:37 GMT -5
jeremg... I agree with certain things including that with this it can hardly be denied that the company is "troubled". However, with formulary being the obvious long pole in the tent, I'm curious as to what insight you have into the process to have the opinion that SNY is not taking the best approach to it. Do you know what would be required to get Afrezza on formulary? In all seriousness, I would be very interested to have insight. If there is some easy way of having accomplished that and SNY has neglected to do it, that would be lack of commitment. My understanding is that getting on formulary is becoming a harder and harder task year by year. At least my cost basis is lower than his. As long as he sells at a profit for himself I'll be happy.
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Post by jeremg on Nov 20, 2015 17:37:50 GMT -5
jeremg... I agree with certain things including that with this it can hardly be denied that the company is "troubled". However, with formulary being the obvious long pole in the tent, I'm curious as to what insight you have into the process to have the opinion that SNY is not taking the best approach to it. Do you know what would be required to get Afrezza on formulary? In all seriousness, I would be very interested to have insight. If there is some easy way of having accomplished that and SNY has neglected to do it, that would be lack of commitment. My understanding is that getting on formulary is becoming a harder and harder task year by year. At least my cost basis is lower than his. As long as he sells at a profit for himself I'll be happy. I know they have certain concessions they can make to use as leverage (price on Afrezza, price on other drugs under their name etc.), they obviously were not willing to make these concessions (or unable). The proof is in the pudding as far as I'm concerned, the fact that we are seeing script numbers stagnating over months is all I need to know to make a reasonable assertion about SNY's lack of commitment. It's either incompetence or lack of commitment which has led to such poor sales and lack of insurance coverage, I don't believe they are incompetent and I believe the sudden change in CEO before this all unfolded is possibly THE factor in Afrezza's poor sales and lack of penetration in the marketplace. Brandicourt has given us ZERO indication he is interested in Afrezza. If Al sold tomorrow at $6 and made himself whole, I'd be a happy camper as well.
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Post by benyiju on Nov 20, 2015 17:41:09 GMT -5
So you think Al would sell out on the cheap and take a big loss on his investment? Al's cost basis is around $6, right? I think he is willing to go down with his ship if need be, but maybe - just maybe, if presented with a fair offer and the confidence this new entity will do right by his legacy, he may just sell for a small premium. I, for one, would be happy if that premium gets us to $8! When SP gets back down to 1.76 next week (between delayed reaction to recent developments and the impending tax loss harvesting I think that's almost certain to happen) I might increase one or more of my positions, in which case I could walk away with my dignity restored and a bit for my trouble. But only if Al holds out for $8. If it's down in the $6-7 range, all I walk with is my dignity...
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Post by suebeeee1 on Nov 20, 2015 17:48:59 GMT -5
With the drop in share price immediately preceding the TAsE, I bought more and lowered my base to @ $4/share. But, i still don't want to sell for $6 or even $8.
I'm holding on until we hit $60, sell out high or bankrupt.
The potential is still there.
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Post by EveningOfTheDay on Nov 20, 2015 17:51:02 GMT -5
I can almost guarantee you (99% sure) that your first sentence above is not true. Sny is committed to afrezza in 2016. That has always been my position no the matter too, but I have been wrong almost every step of the way. Perhaps things will turn around and I will decide that I was right after all, but it is hard to see the light at the end of the tunnel at this moment. I personally do not see any reason on why Sanofi would leave, but to me whether it leaves or lets Afrezza languish to the point of no return for Mannkind matters little. I often remind myself that the original plan did not call for introducing Afrezza in Europe till 2016 and Japan in 2017. I remind my self that it is possible that they seem to be pushing a bit harder now that they have realized the original plan was severely flawed. My concern is that it might still be too little too late, and that there will only be so much disappointment Sanofi will be able to take. They might realize they need Afrezza or not, but they have their own problems too, and it very well could be they decide the effort might not be worth it considering the difficulties of introduction. In any case, I really would like to hear from MNKD, in terms of how much money they have exactly, how many quarters that will last and what is their plan A, B and C if terms of financing. I also very much would like to hear that they have complete trust on Sanofi and that the partnership is going well and moving forward regardless of the results so far. It would not hurt at this point to nicely ask Sanofi to throw us a bone. They probably would not, but they might if it is Al himself who asks. The unwillingness to do so, unless they are very concerned about a blowback from their own shareholders, is rather unnerving. In essence, I realize that I am retracting many of my previous posts, but if I thought we were in a pretty bad situation last June, I now think the situation is as close to life or death as it can be; therefore is time to really be a lot more straightforward. That does not mean open, but simply straightforward. In my humble opinion Mannkind has been either, open or straightforward, and although I do understand the need for keeping things under wraps and quiet at times, the lack of clear statements from the company is what I find inexcusable.
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