Deleted
Deleted Member
Posts: 0
|
Post by Deleted on Dec 13, 2015 12:06:39 GMT -5
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.
Matt's reply sounds as if the financial situation is not dire as Wall Street wants shareholders to believe. If MannKind was in a financial jam, I believe they would be required to file with the SEC?
|
|
|
Post by beardawg on Dec 13, 2015 13:09:31 GMT -5
I'm surprised no one has questioned the validity of the email. Whether you see it as good news or bad, can you even prove that the email is real? I don't think this provides any new news at all. It's highly likely this was simply made up. 8 pages discussing something that we don't even know is real...wow.
|
|
|
Post by jpg on Dec 13, 2015 13:13:53 GMT -5
Matt's reply sounds as if the financial situation is not dire as Wall Street wants shareholders to believe. If MannKind was in a financial jam, I believe they would be required to file with the SEC? No they don't need to file anything. Read the risk section of their SEC filings. They spell out in a great detail the risks. And they have the $ for a few months. We (at least I) aren't certain for how many months. So no immediate risk of running out of cash but with the stagnant script count and their burn rate (not even taking into account the.Sanofi loan rate and maxing out eventually) there is an obvious funding issue in x months. And who really believes Sanofi is trying very hard and doing all the necessary studies etc.? The've studied at best a total of a dozen pateints. 8000 more to go? Does this sound promising? Mannkinds future depends on a giant BP who seems to be focused elsewhere and on a 90 year old 'new' CEO who doesn't seem very keen on sharing info. And that TASE listing: genius or desperation? You know my vote on that one. This could all work out but not certain if it will work out for most retail shareholders.
|
|
|
Post by mnkdfann on Dec 13, 2015 13:36:09 GMT -5
I'm surprised no one has questioned the validity of the email. Whether you see it as good news or bad, can you even prove that the email is real? I don't think this provides any new news at all. It's highly likely this was simply made up. 8 pages discussing something that we don't even know is real...wow. Well, I think it was far too bland a response to have been made up. If someone was posting a fake email response just to have fun, surely the made up response would have said something significant one way or the other.
|
|
|
Post by dreamboatcruise on Dec 13, 2015 13:44:30 GMT -5
Matt's reply sounds as if the financial situation is not dire as Wall Street wants shareholders to believe. If MannKind was in a financial jam, I believe they would be required to file with the SEC? MNKD isn't at the point of becoming insolvent, violating covenants of loans, etc. that would trigger SEC requirements. Even with just the cash we know they have access to (not counting speculation), MNKD can get through another 6 months at least At this point it isn't immediately a liquidity jam, but the fact remains that if one looks at the current trajectory of Afrezza sales, there is no escaping that something more will need to occur to avoid MNKD running out of money... and that more could take numerous forms, some better than others for shareholders. The existing SEC filings give a pretty good snapshot of where we are, and clearly show negative cash flow. Matt prepares and signs off on these SEC filings. I certainly trust that these are truthful representations, and obviously avoid all the spin that can get layered on by those hoping to influence the share price one way or the other.
|
|
|
Post by scottiemac on Dec 13, 2015 13:46:11 GMT -5
I'm surprised no one has questioned the validity of the email. Whether you see it as good news or bad, can you even prove that the email is real? I don't think this provides any new news at all. It's highly likely this was simply made up. 8 pages discussing something that we don't even know is real...wow. Can't say for anyone else but the few times I have emailed Matt, he has responded, usually faster than expected.
|
|
|
Post by kball on Dec 13, 2015 14:07:05 GMT -5
I'm surprised no one has questioned the validity of the email. Whether you see it as good news or bad, can you even prove that the email is real? I don't think this provides any new news at all. It's highly likely this was simply made up. 8 pages discussing something that we don't even know is real...wow. Can't say for anyone else but the few times I have emailed Matt, he has responded, usually faster than expected. Not to mention it was a perfectly executed and very respectful email to Matt---which may have stood out from what Matt usually gets--hence the reply.
|
|
Deleted
Deleted Member
Posts: 0
|
Post by Deleted on Dec 13, 2015 15:15:16 GMT -5
I have emailed Matt about five times an he has replied to three of them. So in regards to MannKind's cash situation, it appears they have a sufficient amount to get them through 2016, then a number of different scenarios will play out. Hopefully one that minimizes dilution.
|
|
|
Post by mdcenter61 on Dec 13, 2015 20:45:05 GMT -5
I'm surprised no one has questioned the validity of the email. Whether you see it as good news or bad, can you even prove that the email is real? I don't think this provides any new news at all. It's highly likely this was simply made up. 8 pages discussing something that we don't even know is real...wow. Beardawg:
I wouldn't have any problem forwarding this e-mail to you from my gmail inbox if you would like to message me your e-mail address. I've been on this board since inception and not known for tomfoolery or pumping or bashing. It is indeed valid and as I stated at the bottom of the post, didn't represent much news at all but I felt that the members of this board would at least be interested that Matt responded to my e-mail. I also understand cynicism particularly with regards to this stock, but this was a genuine e-mail and response.
Best of luck to all (if long)!
|
|
|
Post by lmj on Dec 14, 2015 14:29:30 GMT -5
BTW he has a duty to respond to you if he is responding to other investors especially institutional ones. If the company were ignoring retail investors someone would rip their face off by notifying the SEC of such practice.
|
|
|
Post by jpg on Dec 14, 2015 14:34:55 GMT -5
BTW he has a duty to respond to you if he is responding to other investors especially institutional ones. If the company were ignoring retail investors someone would rip their face off by notifying the SEC of such practice. What? Rip their faces off by notifying the SEC? Does that make any sense?
|
|