Deleted
Deleted Member
Posts: 0
|
Post by Deleted on Jan 5, 2016 13:40:52 GMT -5
Mnholdem if SNY did give a heads up three months ago that they were leaving doesnt that means Hakans comments at the last conference call were a complete lie?
|
|
|
Post by factspls88 on Jan 5, 2016 13:55:44 GMT -5
Mnholdem if SNY did give a heads up three months ago that they were leaving doesnt that means Hakans comments at the last conference call were a complete lie? What specific comments are you referring to?
|
|
Deleted
Deleted Member
Posts: 0
|
Post by Deleted on Jan 5, 2016 14:03:57 GMT -5
Mnholdem if SNY did give a heads up three months ago that they were leaving doesnt that means Hakans comments at the last conference call were a complete lie? What specific comments are you referring to? When he stated to Olson that SNY has not given them any reason to believe they were terminating the partnership. At a certain point you have to start questioning anyones credibility at MNKD.
|
|
|
Post by mnholdem on Jan 5, 2016 14:45:37 GMT -5
Mnholdem if SNY did give a heads up three months ago that they were leaving doesnt that means Hakans comments at the last conference call were a complete lie? That would be correct. Since I don't believe that neither Hakan would have taken the risk of lying during this exchange:
Jay Olson Okay. And then just with regard to the additional equity financing that's been lined up, would that enable MannKind to continue to commercialize Afrezza in a scenario where Sanofi were to opt out? Matthew Pfeffer That's a tough one to answer. I guess -- that's not in our operating plan at present, Jay, but it could.
Jay Olson Okay. What is the soonest that could happen? I know you've been asked that before, I think you said January, is that correct?
Matthew Pfeffer That's as soon as we could be given notice that it could happen, but then there will be a notice period, it would follow that, and the duration of that notice period is dependent upon the nature of the termination if it were to occur.
Hakan Edstrom Yes, and I have to say, Jay, at this time we have certainly no indication that Sanofi is planning the partnership. Actually, our teams are working very closely together on plans for 2016, and putting budgets together. So we are certainly operating under the assumptions that we'll continue to pursue the partnership and the efforts associated with first [ph] activities.
Jay Olson Okay, thank you. I appreciate the question.
---
It seems to me that this indicates that Sanofi did not serve MannKind with notice of their intent to terminate until after November 9, when this earnings conference call was held. After carefully reading today's press release, it would appear that Sanofi only now served notice and MannKind is at the beginning of the minimum 90-day notice and the Collaboration Agreement may stay in effect until July 4th.
VALENCIA, Calif., Jan. 05, 2016 (GLOBE NEWSWIRE) -- MannKind Corporation (Nasdaq:MNKD) (TASE:MNKD) today announced the termination of its license and collaboration agreement with sanofi-aventis U.S. LLC for the development and commercialization of Afrezza® (insulin human) Inhalation Powder. The parties will promptly commence transition discussions in order to effect a smooth and orderly transition in the development and commercialization of Afrezza from Sanofi to MannKind over the next 90 - 180 days. In any event, termination of the license agreement in its entirety will be effective no later than six months from the effective date of Sanofi's notice of termination, or July 4, 2016.
- See more at: investors.mannkindcorp.com/releasedetail.cfm?ReleaseID=948810#sthash.bTdJ9nVu.dpuf
---
So the plant layoff would have been decided based on Sanofi lowering its short-term forecast rather than a notice of termination.
|
|
|
Post by u1682002 on Jan 5, 2016 15:08:34 GMT -5
MN, so can we say now Desisto only got the word after his acceptance of the CEO position?
|
|
|
Post by mnholdem on Jan 5, 2016 15:18:10 GMT -5
No. We don't know that for a fact yet.
|
|
|
Post by peppy on Jan 5, 2016 15:49:35 GMT -5
MNKD knew the fate of the partnership when it removed HAKAN as CEO. That's obvious. Given that MNKD knew before firing Hakan and before hiring DeSisto, does anyone have a plausible theory for either action if BK was part of the plan? in my opinion a sale will come before a bankruptcy. Mannkind has many patents.
|
|
|
Post by bradleysbest on Jan 5, 2016 18:02:52 GMT -5
Let's hope DeSisto earns his compensation by working his tail off to get Afrezza marketed globally & a TS deal or 2 with some upfront cash. Come on Duane!
|
|