Positive logics and recent facts

[parrerob]

1) New CEO
Hakan was communicating officially, during last earnings and after a question from GS, that new partner will be announced within the end of the year (sorry, within next quarter)
Hakan stepped down from CEO. If He was fired that’s was really bad,meaning pressure from Board and or Investors and so meaning something totally wrong in the actual company strategy.
But Hakan finally was not fired, just stepping down from CEO and assigned for 18 months handover to the new future CEO. If the Board (or PowerfulInvestors) were not happy about Hakan (or Hakan strategy collapsed) then 18 months handover has no sense.
So Board and Investors are sure still confident in the strategy and probably the change of the CEO is just because of:
- Personal reason
- New company configuration needs different skills
- A new CEO is required by a new partner entering MNKD (or by existing partner)
- Alfred Mann will sell the company, Hakan assigned for the handover
Now I feel very positive the situation. All possible scenarios are still fine with me.
2) FINANCIAL
Just this summer MNKD paid cash part of the debt.
Also a disaster Q3 financial situation, was posted recently, leaving the stock 8 hours on the market practically without fuel. Then after market closed they told us theyare going to sell 50 Million shares to Israel Indexes. Then they sold only 11m.
MNKD is fine with the sell; Israel index is fine too;
Matt during Jeffrey call (June 15)
He was saying nothing about the way they will manage to collect cash (He told that theway will clearly depends on PPS value at the time beeing). The only clear message was: shorts will be not able to buy any shares diluted by MNKD. And that’s DONE !
Financial for 2016 – Why not this way ?
1 quarter can be covered from Afrezza (don’t You think so ?)
1-2 quarter can come from a milestone
1 quarter can come from a new partnership front payment
And, any case, more then1 quarter covered with actual cash
I don’t see big problems forfuture Cash collection …. At least until 2017.
We can have a problem only if SNY drops Afrezza and no partnership during next year. Both these steps are not in MNKD plan today. Not even in Sanofy plan. Only in some articles (some of which taken out from public availability due to falsehood and lies …. )

3) TS
FROM JEFFREY CONF.
“So we do have a product in development atthis moment. We expect the second product to enter the pipeline, as this is going to be very like the traditional pipeline. We can only get one started at a time, but the second one will thenenter the pipeline by the end of the year. And then you can assume we can try it’s the target here, it’s not a confirmed promise, but our target at least, is to get another one in every six months or so.”
ALSO: “We’re intentionally a little bit vague about some of these things at this point. We have told the world that three of the top four indications are in pain management, pulmonary disease and oncology”.

I was totally wrong in my entry time (Then I added at 2, yes, but even at 9) and my medium price is 5,5. So I totally agree with the sentence from Kastanes:
“It is painful to have ridden shares since approval to where we are.To sell now and possibly miss the ride up would be even more painful.”
And I would add:
“It is a painful too to have ridden shares since years waiting for catalyst events like the PDUFA date, the FDA approval, a partnership …. Just to sell now during themost important phase of MNKD history”

4) THE MISTERY OF MNKD CAP
Last but not least during week 46:
- 100 million shares weretraded (of which 78 million in 3 days when Israel Index was supposed to buy)
- Of that 100 million shares traded we know that around 30 million shares have been bought by the index

Now, suppose someone will declare that next week He will go to buy 30 million shares of MNKD. What happen to our PPS ? What happen to Shorters ?

At the end nothing happened in MannKind.
Quite 30 million shares were bought (and so taken away from Wall Strett), 100 million shares were traded but at the end PPS did not changed (violent roller coaster during the week, but at the end it closed the week with no PPS change)
Short Index: It was 120 Million before November 1st and it is 120 Million after November 13th.
The question is: Who gave the 30 million shares to Israel Index ?
Aninstitutional investor ? (Hope no, but it is possible)
So much Retailers ?
Shorters ? (last 3 days of SI period skipped to nextperiod ?)
This is a mistery and will be a mistery probably until next 2 weeks (when new SI will be out) or next February (when Q4 Institutional will be out). One think good for us is for sure that Someone still have to buy 120 Million shares but there are around 30 Million shares less for them to cover !
Around 30 million ? Is there a way to know really how many MNKD shares are in the hands of these Indexes ?

[dreamboatcruise]

Not everyone is assuming the same as you that 18 months is a handover period, vs simply offering him pay/benefits for a time period as part of severance... given that the announcement of his departure mentioned nothing about him staying on or helping with transition. It would be odd that this info would be stuck in an SEC filing but not revealed when his resignation was first announced if he were really staying on for that period.

I've worked for a big company that used that method of severance. The "terminated" employees would have no work to do and would not have access to facilities. The agreements wouldn't even prevent someone from having another full time job.

[parrerob]

Nov 27, 2015 13:56:07 GMT -5 dreamboatcruise said:

Not everyone is assuming the same as you that 18 months is a handover period, vs simply offering him pay/benefits for a time period as part of severance... given that the announcement of his departure mentioned nothing about him staying on or helping with transition. It would be odd that this info would be stuck in an SEC filing but not revealed when his resignation was first announced if he were really staying on for that period.

I've worked for a big company that used that method of severance. The "terminated" employees would have no work to do and would not have access to facilities. The agreements wouldn't even prevent someone from having another full time job.

I based my assumption on what is reported in the 8k

"Mr. Edstrom would provide the Company with a general release of claims and remain employed with the Company to provide transition and other services through July 1, 2017, subject to his earlier resignation or termination by the Company. Mr. Edstrom would report to the Company’s principal executive officer during the term of the agreement.
Mr. Edstrom would be entitled to receive his base salary in effect at the time of his resignation"

That's not the best way to fire a CEO, You do not want any more, specially in case financial cash is a company problem.

[peppy]

Nov 28, 2015 6:16:59 GMT -5 parrerob said:

Nov 27, 2015 13:56:07 GMT -5 dreamboatcruise said:

Not everyone is assuming the same as you that 18 months is a handover period, vs simply offering him pay/benefits for a time period as part of severance... given that the announcement of his departure mentioned nothing about him staying on or helping with transition. It would be odd that this info would be stuck in an SEC filing but not revealed when his resignation was first announced if he were really staying on for that period.

I've worked for a big company that used that method of severance. The "terminated" employees would have no work to do and would not have access to facilities. The agreements wouldn't even prevent someone from having another full time job.

I based my assumption on what is reported in the 8k

"Mr. Edstrom would provide the Company with a general release of claims and remain employed with the Company to provide transition and other services through July 1, 2017, subject to his earlier resignation or termination by the Company. Mr. Edstrom would report to the Company’s principal executive officer during the term of the agreement.
Mr. Edstrom would be entitled to receive his base salary in effect at the time of his resignation"

That's not the best way to fire a CEO, You do not want any more, specially in case financial cash is a company problem.

to provide transition

Interesting choice of words

[biotec]

Why is that interesting? Why not provide transition to the next CEO?

[peppy]

Nov 28, 2015 6:31:48 GMT -5 biotec said:

Why is that interesting? Why not provide transition to the next CEO?

you asked so I am answering.

transition: the process or a period of changing from one state or condition to another

 reply:

Look at what Mannkind has been working on. Check the dates.

screencast.com/t/B3LM5n9ea

The documented work fits a definition of transition.

Mr. Edstrom would provide the Company with a general release of claims and remain employed with the Company to provide transition and other services through July 1, 2017, subject to his earlier resignation or termination by the Company. Mr. Edstrom would report to the Company’s principal executive officer during the term of the agreement.
Mr. Edstrom would be entitled to receive his base salary in effect at the time of his resignation"

[mssciguy]

peppy the confidential treatment order expires in 2017, if I am not mistaken? I would love to see what's in that! The mystery here is impenetrable.

I have Indeed set up on my PC to monitor open positions at Sanofi diabetes (and other terms) daily (it only takes less than a minute). Of course, plenty of other business comes up in passing, "diabetes solutions, human vaccines, innovative drugs, consumer healthcare, emerging markets, animal health and the new Genzyme" so potentially, Sanofi could want TS partnership in more areas just than Afrezza, and we would never know...

[silentknight]

For anyone to assert that Hakan left on favorable terms and according to some master plan is folly.  In roughly 18 months, the stock has fallen from over $11 to now just above $2 per share and Hakan resigned (in lieu of termination in my opinion) at it's low.  The timing alone, coupled with MNKD's financial situation lack of announced partnerships for TS, and tepid Afrezza sales all point to a board removing the company head for poor performance, plain and simple.  He was likely retained and paid for 18 months to keep him from running to another BP with information about MNKD's TS platform and development pipeline.  That's a point that I understand but it infuriates me that a man that is largely responsible for the situation the company an investors are in gets a golden parachute worth millions, that quite frankly the company can't afford to pay.  If Matt or Al were serious about things, every member of the management team would accept a salary of $1 with their compensation coming from stock options paired with stipulations that they are received when the PPS does to elicit  some much needed recovery for the company.  I doubt you'll see that however.  It must be nice to be paid millions to take a company with ultimate potential to where we are now.  Only in America.

He wasn't removed as CEO because the company is on the right track.  Quite the opposite in my opinion. He didn't get the job done, period. 

[mssciguy]

via stocktwits prntscr.com/97y9tj silentknight --- the solution, perhaps ?

[kdaddyfresh2000]

Nov 28, 2015 10:26:54 GMT -5 silentknight said:

For anyone to assert that Hakan left on favorable terms and according to some master plan is folly.  In roughly 18 months, the stock has fallen from over $11 to now just above $2 per share and Hakan resigned (in lieu of termination in my opinion) at it's low.  The timing alone, coupled with MNKD's financial situation lack of announced partnerships for TS, and tepid Afrezza sales all point to a board removing the company head for poor performance, plain and simple.  He was likely retained and paid for 18 months to keep him from running to another BP with information about MNKD's TS platform and development pipeline.  That's a point that I understand but it infuriates me that a man that is largely responsible for the situation the company an investors are in gets a golden parachute worth millions, that quite frankly the company can't afford to pay.  If Matt or Al were serious about things, every member of the management team would accept a salary of $1 with their compensation coming from stock options paired with stipulations that they are received when the PPS does to elicit  some much needed recovery for the company.  I doubt you'll see that however.  It must be nice to be paid millions to take a company with ultimate potential to where we are now.  Only in America.

He wasn't removed as CEO because the company is on the right track.  Quite the opposite in my opinion. He didn't get the job done, period. 

Dude, stop being a soft basher. Hakan's abrupt resignation of was part of the master plan, can't you see?

[silentknight]

Nov 28, 2015 10:53:44 GMT -5 kdaddyfresh2000 said:

Nov 28, 2015 10:26:54 GMT -5 silentknight said:

For anyone to assert that Hakan left on favorable terms and according to some master plan is folly.  In roughly 18 months, the stock has fallen from over $11 to now just above $2 per share and Hakan resigned (in lieu of termination in my opinion) at it's low.  The timing alone, coupled with MNKD's financial situation lack of announced partnerships for TS, and tepid Afrezza sales all point to a board removing the company head for poor performance, plain and simple.  He was likely retained and paid for 18 months to keep him from running to another BP with information about MNKD's TS platform and development pipeline.  That's a point that I understand but it infuriates me that a man that is largely responsible for the situation the company an investors are in gets a golden parachute worth millions, that quite frankly the company can't afford to pay.  If Matt or Al were serious about things, every member of the management team would accept a salary of $1 with their compensation coming from stock options paired with stipulations that they are received when the PPS does to elicit  some much needed recovery for the company.  I doubt you'll see that however.  It must be nice to be paid millions to take a company with ultimate potential to where we are now.  Only in America.

He wasn't removed as CEO because the company is on the right track.  Quite the opposite in my opinion. He didn't get the job done, period. 

Dude, stop being a soft basher. Hakan's abrupt resignation of was part of the master plan, can't you see?

I'm not soft bashing Hakan. I'm openly doing it. I hold him to blame for the current situation of the company and I'm glad he's gone (or going).  With Al back in charge, I'm optimistic that perhaps things will begin to improve.  From the way it was looking for a while with Hakan at the helm, it certainly couldn't have been much worse. 

[mindovermatter]

No one knows what is going on except for those in the company and Sanofi. The only thing we do know is that 2015 hasn't been kind to Mannkind and that many of the events have not bode well for the company. There hasn't been one piece of good news to telegraph to investors that things are headed in the right direction. Those are the facts and not the rampant conjecture that plagues this and other message boards. What is needed is clear guidance but we know that isn't going to happen. The only good news is coming from many who are using Afrezza and that they are experiencing control of their diabetes as they never have had before.

[mssciguy]

mindovermatter for sure.  Like orbiting a black hole that magically produces great medicine but cannot emit information of any kind.

[mssciguy]

My question for the following week is this:

What's going on? Is it:

A conspiracy of hedge funds led by GS to defraud retail investors of value or shares; or,

Total disregard of shareholder value by mgmt?


It takes only a single shaft of light to destroy total darkness, let's hope for more than that, but in any case, I am going cold turkey on these message boards for a while.

[sportsrancho]

I'm thinking at some point. Soon. The pps will start to raise on no news and we will still be in the dark:-)