Matt's reply to my e-mail this morning

[mdcenter61]

Not a big fan of doing this (e-mails to management), but my frustration boiled over and I sent the following to Matt this morning:

    Mr. Pfeffer:

    I am sure you are getting inundated with calls and e-mails from stockholders, etc. I have been a long stockholder since 2008, through CRL's, approval, partnership, etc. I totally understand discretion as it relates to competitive advantages on the marketing plans for Afrezza, etc. My concern has been the continued silence from MNKD in terms of the continued FUD spread regarding the company and the near total erosion of the price per share accordingly.

    The biggest short term issues that the FUD side continues to spread relates to the SNY commitment to MNKD beyond 2015, as well as the cash position of MNKD after the TASE offering; there is a lot of confusion as to what was actually raised beyond the  amount noted in the PR. Most say that was the full extent of the capital raise, which buys us around 3 to 4 months, while a couple of other analysts believe that MNKD was able to sell to the TASE funds at the market to raise additional funds. I realize that the SNY issue may be one that you cannot address until after January 1, 2016, but surely something can be said regarding the cash raise and the anticipated other sources of capital to get the company through 2016?

    I am a CFO as well, but blessedly not with a publicly held company! My hat's off to you, and hope some sort of news will be forthcoming from management soon.

    Thanks,

Here is Matt's reply, which was prompt:

    Michael,



    I agree with all you have said, and have been pushing for the same. I was hoping for some CEO news that might provide an excuse, particularly since the update should come from the CEO, not the CFO. Fingers crossed, we can do     something soon.



    Matt

Take it for what its worth, which is probably not much.  My take is that hopefully very soon we will have some news on the CEO front, and that Matt is pushing to get more info out.  They are being incredibly cautious about any info being released; since Matt stated that he has been pushing for it, it sounds like Al and the Board are keeping a very tight lid on info.  I really do appreciate Matt taking the time to reply.

[jeremg]

Fingers crossed, we can do something soon. - not what I would have liked to hear, but at least Matt is responding to inquiries and maybe now being more honest than he has in the past about the situation we are in. I think it's evident in his response that he knows what's going on and is at lest sympathetic to concern. Thanks for posting this, we need everything we can get out there. 

[Deleted]

Thanks for taking time to write Matt and sharing his response. He, Al and others are frustrated too, don't kid yourself but as you indicated, their hands are tied. It is what it is. Uncertainty is uncertainty and until certain things are revealed, we can only speculate and likely be incorrect doing so.

[roseylv]

Thanks for sharing.

[Deleted]

Thanks for providing Matt's reply. Matt is tight lipped because of potential lawsuits.

[trondisc]

"Fingers crossed we can do something soon" = hail~mary pass.  Fellow Longs, I think we're f*cked.  Unless MannKind finds a better partner or multiple partnerships outside of Sanofi the sand bagger, the quicksand effects will continue.

[kball]

That was a really well written email OP

[stevil]

Ya, that didn't sound good to me either. The only time you don't let information out is when that information isn't good. If there was good news to share, there wouldn't be opposition to communication.

Wondering why there would need to be an "excuse" to let info out. Wonder if that's in regards to SNY?

[jeremg]

I think we can finally put to bed the "MNKD is in full control" - "It's all part of the grand plan" - "Controlled launch" whacky theories given Matt's "fingers crossed". At least now we know they recognize there is a problem, hopefully they are doing something beyond "crossing fingers" to resolve it...

[mdcenter61]

Dec 9, 2015 13:26:34 GMT -5 stevil said:

Ya, that didn't sound good to me either. The only time you don't let information out is when that information isn't good. If there was good news to share, there wouldn't be opposition to communication.

Wondering why there would need to be an "excuse" to let info out. Wonder if that's in regards to SNY?

I don't know, Stevil, just reading between the lines it looks like they are hyper-sensitive to release any info unless it fits in the typical mold (earnings releases, CC announcements, etc.), and that comes from the top.  I do believe that if any negative info were known by management regarding the SNY/MNKD partnership at this time that it would be material news requiring disclosure.  I didn't take the "fingers crossed" as some sort of Hail Mary as Tron indicated; I just think that Matt hopes that the CEO news is forthcoming soon and that it is his hope that more info can be incorporated into the release of that news. 

[rrtzmd]

"I agree with all you have said, and have been pushing for the same." Pushing for the same what? How is he pushing? Who is he pushing? He always manages to say really nothing at all.

[bearcatmax]

I agree with all you have said, and have been pushing for the same. I was hoping for some CEO news that might provide an excuse, particularly since the update should come from the CEO, not the CFO. Fingers crossed, we can do something soon.

Just a random theory, 1st time poster, long time reader btw. "I was hoping for some CEO news that might provide an excuse". Does he mean an excuse to release something positive?

[stevil]

haha he does have a skill with encrypted writing. I'm surprised he doesn't have a law degree...

[prayingformannkind02]

Doesn't it seem as simple to everybody else as it does to me....If Al is still confident in this company, why doesn't he invest a large amount of money (again) to show everybody that he is still on board, still believes and cares about the little people (like me and the other longs) that have invested in his vision.

I have been long for 10 years and it is so painful at this point every day just losing more and more. We need (and deserve) some clarity and hope (if there is any there)!

GLTA longs!

[Deleted]

Dec 9, 2015 13:26:34 GMT -5 stevil said:

Ya, that didn't sound good to me either. The only time you don't let information out is when that information isn't good. If there was good news to share, there wouldn't be opposition to communication.

Wondering why there would need to be an "excuse" to let info out. Wonder if that's in regards to SNY?

So what I hear you saying is that as CFO of a publicly traded company, if there was good news, Matt would have shared it via email response prior to announcing the good news in a formal PR.  Do you really believe that to be the proper course of action, seriously?