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Post by trondisc on Jan 5, 2016 16:55:11 GMT -5
Wow I'm now more afraid of tomorrow than I was today. Matt did not sound reassuring in the SLIGHTEST. Rehashed the old news of today which everyone already knew. Management running scared without a solution. Surprisingly Duane wasn't even on the conference call either to face the music. UNREAL.
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Post by goyocafe on Jan 5, 2016 16:58:25 GMT -5
Wow I'm now more afraid of tomorrow than I was today. Matt did not sound reassuring in the SLIGHTEST. Rehashed the old news of today which everyone already knew. Management running scared without a solution. Surprisingly Duane wasn't even on the conference call either to face the music. UNREAL. I disagree. I heard resolve and a whole lot of "pissed off". I'm not saying it fixes anything, but it's a new start. They have to fix the cash problem and then see where this goes.
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Post by rider on Jan 5, 2016 17:04:30 GMT -5
Nervous or angry, either way they weren't prepared for this. New CEO wimping out was the worst sign to me. He will probably not stay on as this was obviously unexpected.
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Post by matt on Jan 5, 2016 17:08:27 GMT -5
They have to fix the cash problem and then see where this goes. Agree with that, but that is easier said than done. The cash burn is about to increase substantially because the Sanofi credit line will get cut off and the portion of the losses that have been paid by Sanofi are about to become cash charges to Mannkind. Good news, MNKD can now keep 100% of the revenue. Bad news, MNKD can now pay 100% of the expense and working capital expenditures on their own. We know the drug wasn't profitable before all this happened, and Matt pretty clearly said they are going to cut the price to drive adoption. That is going to eat the cash very quickly and don't forget that some of the cash is restricted to payment back to Deerfield.
Raising money for a company with a 75 cent stock is going to be a neat trick. If Matt manages to pull it off, he will deserve a lot of people's thanks.
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Post by mnkdnewb on Jan 5, 2016 17:08:52 GMT -5
Nervous or angry, either way they weren't prepared for this. New CEO wimping out was the worst sign to me. He will probably not stay on as this was obviously unexpected. If Duane doesn't stick around and didn't know this was happening it would surprise me. What would he have said anyways? Same thing Matt (the guy who has actually been with the company for more than 8 hours) would have said. Matt said we will hear from Duane more in the coming weeks. This is not over, and his tone was more pissed off than weak imho.
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Post by mnkdnewb on Jan 5, 2016 17:11:34 GMT -5
Agree with that, but that is easier said than done. The cash burn is about to increase substantially because the Sanofi credit line will get cut off and the portion of the losses that have been paid by Sanofi are about to become cash charges to Mannkind. Good news, MNKD can now keep 100% of the revenue. Bad news, MNKD can now pay 100% of the expense and working capital expenditures on their own. We know the drug wasn't profitable before all this happened, and Matt pretty clearly said they are going to cut the price to drive adoption. That is going to eat the cash very quickly and don't forget that some of the cash is restricted to payment back to Deerfield.
Raising money for a company with a 75 cent stock is going to be a neat trick. If Matt manages to pull it off, he will deserve a lot of people's thanks.
Lower the price and keep 100% sounds better to me than terrible sales and keeping 35%. This is a dream come true in the long run (Although I didn't think that yesterday).
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Post by rider on Jan 5, 2016 17:14:22 GMT -5
I HOPE you're right. But that's all we have.
And how well can he know Duane if he's only been on the team for 8 hours? None of Matt's other predictions have come true. This "investment" has embarrassed us alright, but not because of riches.
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Post by sccrbrg on Jan 5, 2016 17:17:48 GMT -5
Agree with that, but that is easier said than done. The cash burn is about to increase substantially because the Sanofi credit line will get cut off and the portion of the losses that have been paid by Sanofi are about to become cash charges to Mannkind. Good news, MNKD can now keep 100% of the revenue. Bad news, MNKD can now pay 100% of the expense and working capital expenditures on their own. We know the drug wasn't profitable before all this happened, and Matt pretty clearly said they are going to cut the price to drive adoption. That is going to eat the cash very quickly and don't forget that some of the cash is restricted to payment back to Deerfield.
Raising money for a company with a 75 cent stock is going to be a neat trick. If Matt manages to pull it off, he will deserve a lot of people's thanks.
Lower the price and keep 100% sounds better to me than terrible sales and keeping 35%. This is a dream come true in the long run (Although I didn't think that yesterday). You've got to figure that most of these major companies have "gentleman's agreements". Any official news HAS to be PR'ed immediately, but I would imagine SNY gave MNKD enough clues that they could figure out which direction this was going to go, which I would assume is why they hired the new CEO ahead of the drop. The timing is also suspicious, it seems like duane didn't speak so as not to associate the new management change with the SNY drop bomb - which conveniently happened after MNKD could announce a positive management change but before it could be blamed on the new CEO. It seems like they are shooting for a manufactured sentiment change - which would seem to indicate that they had a fairly good idea of what was going to happen.
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Post by biffn on Jan 5, 2016 17:19:54 GMT -5
Wow I'm now more afraid of tomorrow than I was today. Matt did not sound reassuring in the SLIGHTEST. Rehashed the old news of today which everyone already knew. Management running scared without a solution. Surprisingly Duane wasn't even on the conference call either to face the music. UNREAL. I disagree. I heard resolve and a whole lot of "pissed off". I'm not saying it fixes anything, but it's a new start. They have to fix the cash problem and then see where this goes. I too think they are very angry and trying not to react emotionally but are planning to get even and succeed.
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Post by pktrump on Jan 5, 2016 17:26:24 GMT -5
I liked the call. No more French SNY Bullshit.
AFZ is the first major advancement in Diabetes therapy since synthetic injected insulin. Its worth fighting for.
This is collusion and legalized theft in the works. They won't succeed.
Now its war. Bring in the artillery. Bring in the Al Mann Put. Bring on the superiority trial.
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Post by bill on Jan 5, 2016 17:49:42 GMT -5
Agree with that, but that is easier said than done. The cash burn is about to increase substantially because the Sanofi credit line will get cut off and the portion of the losses that have been paid by Sanofi are about to become cash charges to Mannkind. Good news, MNKD can now keep 100% of the revenue. Bad news, MNKD can now pay 100% of the expense and working capital expenditures on their own. We know the drug wasn't profitable before all this happened, and Matt pretty clearly said they are going to cut the price to drive adoption. That is going to eat the cash very quickly and don't forget that some of the cash is restricted to payment back to Deerfield.
Raising money for a company with a 75 cent stock is going to be a neat trick. If Matt manages to pull it off, he will deserve a lot of people's thanks.
Lower the price and keep 100% sounds better to me than terrible sales and keeping 35%. This is a dream come true in the long run (Although I didn't think that yesterday). It might not take much in the way of lower prices to turn around both sales and insurance coverage. SNY needed to make enough profit to cover a lot of overhead and then some; particularly when they only get to keep 65% of the profits. MNKD can afford to take much less. One challenge would be for MNKD to decide who they want to work with to move the product and what kind of an arrangement can they fashion. I hope they're not starting this journey from scratch because they don't have an abundance of time to work with. BTW, I think that SNY is still on the hook for their end of the profit sharing agreement until the partnership termination takes affect. However, MNKD is free to do their own sales / marketing wherever they choose. It will be interesting to see if Matt / Al / Duane reach out to the Israeli's about some favorable pricing for a country's worth of Afrezza. That type of deal would provide substantial cash, keep the factory running, and buy some time to get other sales / partnerships lined up.
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rey
Newbie
Posts: 12
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Post by rey on Jan 5, 2016 17:56:07 GMT -5
Nope. It's just starting. To you SNY - watch how Americans handle this.
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Post by bill on Jan 5, 2016 18:29:15 GMT -5
Agree with that, but that is easier said than done. The cash burn is about to increase substantially because the Sanofi credit line will get cut off and the portion of the losses that have been paid by Sanofi are about to become cash charges to Mannkind. Good news, MNKD can now keep 100% of the revenue. Bad news, MNKD can now pay 100% of the expense and working capital expenditures on their own. We know the drug wasn't profitable before all this happened, and Matt pretty clearly said they are going to cut the price to drive adoption. That is going to eat the cash very quickly and don't forget that some of the cash is restricted to payment back to Deerfield.
Raising money for a company with a 75 cent stock is going to be a neat trick. If Matt manages to pull it off, he will deserve a lot of people's thanks.
matt MNKD has other options than "raising money." They could sell a boatload of Afrezza to some friendly country like Israel to quickly get a stash of cash .
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Post by mnholdem on Jan 5, 2016 19:00:42 GMT -5
Only let's wait until the effective termination date so MannKind keeps all the profit.
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Post by mbseeking on Jan 5, 2016 19:45:33 GMT -5
Why do I feel like I've just discovered a company that has found a way to best deliver the only true antidote to diabetes at just 1/10 of its price a year ago. If I invert 1/10 dont I get a ten bagger? (!)
I love sailing. Despite what many might think , being becalmed is one of the most amazing times As frustrated as you are, your senses are heightened manifold seeking that zephyr that will herald a real wind to follow. Gosh MNKD feels becalmed just now.
The slightest wind from almost any direction and she will be on her way.
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