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Post by mzaccardo on Jan 10, 2016 12:50:11 GMT -5
I thought Hakan was fired because he didn't have a plan. A CEO without a plan gets canned. I'm convinced he was planning to sit on his hands until MannKind went bankrupt. I doubt there will be any significant lawsuits. MannKinds management has been careful to not say anything meaningful, which has been investors problem. Why Al ever made Hakan the CEO is anyone's guess... Saying they think there will be a TS partnership in Q1 isn't grounds for a lawsuit. See: disclaimer before every CC. I think Hakan was fired for almost begging for a partner, it's reeked of desperation. I also think Matt's comment that there will be "an embarrassment of riches" could come back to haunt them, he even acknowledges regretting making that statement.
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Post by biffn on Jan 10, 2016 13:19:46 GMT -5
Afrezza has proven the efficacy of Technosphere technology. That is a big step forward and dramatically improves the IP value. If there is a disconnect between this information and the MV, MNKD becomes a steal at .66. I actually think if Mannkind is to be saved it will be through TS, not Afrezza. Afrezza has a long way to go before it gets recognition and becomes profitable.
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Post by 4allthemarbles on Jan 10, 2016 15:56:21 GMT -5
Hakan got fired for making statements that are going to show up in the flood of lawsuits coming now. He was desperate and said some very misleading things on the last two CCs. I believe if Afrezza makes it then TS will make and the other way around. I haven't seen this before, at all. Respectfully, I dont think this can be considered as fact. However, I don't think he was a good CEO either, but that's just my opinion.
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Post by sportsrancho on Jan 10, 2016 16:27:19 GMT -5
First, Hakan did not promise anything except that he would provide news on a partnership. That's promising nothing but an update. Second, Hakan was not fired. He resigned and then was asked by the BoD to remain on board to assist with the transition. Third, every conference begins with a disclaimer that protects the company from liability if any forward-looking statements to not come to fruition. I doubt any lawsuit against MannKind could succeed. Have people not read mnholdem's post? Hakan was not fired.
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Post by suebeeee1 on Jan 10, 2016 16:51:06 GMT -5
First, Hakan did not promise anything except that he would provide news on a partnership. That's promising nothing but an update. Second, Hakan was not fired. He resigned and then was asked by the BoD to remain on board to assist with the transition. Third, every conference begins with a disclaimer that protects the company from liability if any forward-looking statements to not come to fruition. I doubt any lawsuit against MannKind could succeed. Have people not read mnholdem's post? Hakan was not fired. Fired, resigned, quit...it really doesn't matter in the long run. Can't sue a company for having hired a lousy CEO. He's in the background now. Let's see if DD is better.
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Post by peppy on Jan 10, 2016 16:57:37 GMT -5
still waiting some good news within q1 from TS ? May be a new product coming up ? Do You all believe, at this point, that the declaration from Hakan is to consider waste ? Just curious ..... We are all on the big wait. Hakan sounded so exasperated on the last CC call.
If there is a TS announcement, there was a lot of talk of a migraine medication with a Teva product. That would be ok with me.
Laying in the wait, these blood glucose results can not be ignored. screencast.com/t/Ae0RBKtMZD
Laying in the wait, Technosphere is huge for who ever gets it. Look how orderly it worked carrying insulin. Medicine using a lot of proteins.
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Post by factspls88 on Jan 10, 2016 17:17:39 GMT -5
I am not holding my breath.
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Post by bioexec25 on Jan 10, 2016 17:25:17 GMT -5
Yes it sounds like many of us now are honorary Missourians.
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Post by themarlin on Jan 10, 2016 20:43:00 GMT -5
Doesn't TS also have a long way to go, as in a new TS application and trials will also take a long time? Management did provide shareholders with a general answer to this question at the 2Q earnings call. Technosphere is now an FDA-approved drug delivery technology and, therefore, if it is used to deliver an FDA-approved active pharmaceutical ingredient (API) much of the safety testing on the drug & device has already been done. MannKind has stated that they are first developing FDA-approved API for the express purpose of expediting the FDA approval process and getting the newly-developed API(TS) to market ASAP. I can believe any TS application and submission wouldn't take as long as Afrezza being the first on TS. But how quickly, without 'expedited handling', do you think another drug on TS could take, minimum? Maybe there wouldn't be 3 trials of the approved drug, and since TS has already been approved, not long at all? Or 3 trials treated as all new drug/device combo, meaning possibly yeeears?
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Post by themarlin on Jan 10, 2016 21:00:53 GMT -5
Doesn't TS also have a long way to go, as in a new TS application and trials will also take a long time? I hope you understand that a TS deal will bring much needed up front licensing $$$ that can be used for commercializing Afrezza Absolutely agreed, and right now a lot more possible than Afrezza getting a new partner and upfront payments, imo. They've supposedly been working on a TS deal a lot longer than finding a new Afrezza partner. Just a $100m upfront would be a lifesaver, imo, giving Afrezza time to be marketed and grow significantly as a revenue stream after being thrown in the mud by Sanofi. I was fishing for reasons to temper hopes based on TS. I've been smacked one too many times hoping too much in Mannkind's possibilities.
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Post by mzaccardo on Jan 11, 2016 1:36:34 GMT -5
[/quote] I think Hakan was fired for almost begging for a partner, it's reeked of desperation. I also think Matt's comment that there will be "an embarrassment of riches" could come back to haunt them, he even acknowledges regretting making that statement.[/quote]
Actually I know Hakan wasn't "fired" I don't know why I phrased it that way. My apologies.
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Post by careful2invest on Jan 11, 2016 2:23:55 GMT -5
still waiting some good news within q1 from TS ? May be a new product coming up ? Do You all believe, at this point, that the declaration from Hakan is to consider waste ? Just curious ..... I am a newbie on this board, but far from a newbie in the market! Also, I invested in MNKD over 6 years ago. And Believe it or not, I called MNKD last Tuesday after 6:00 EST. and Matt actually answered. Surprised the hell out of me! He said, among many other things, that they were "wrapping up some details on a TS drug to hopefully announce at the Health Conference on the 13th" That, along with Mr. DeSisto coming out with a new and solid plan for AFREZZA and MNKD will be the catalyst to finally move the trajectory of this stocks pps in a positive direction! GLTA!
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Post by parrerob on Jan 11, 2016 4:52:32 GMT -5
First, Hakan did not promise anything except that he would provide news on a partnership. That's promising nothing but an update. Second, Hakan was not fired. He resigned and then was asked by the BoD to remain on board to assist with the transition. Third, every conference begins with a disclaimer that protects the company from liability if any forward-looking statements to not come to fruition. I doubt any lawsuit against MannKind could succeed. Mnholdem, Sure I am not considering it "a promise" or not expecting extraordinary news.... Any case, follwoing the direct question from Olson: "when is the soonest that MannKind could sign a partnership or licensing deal to monetize some of those pipeline assets?"
the answer was: "I would say they are certainly month away from going into a clinic. ................ In regards to entering into other development partnership or financial partnership, the only thing I can say that, that actioned [ph] over the last week, we've had discussions with potential partners. However, there are still negotiations to be had. So I would say -- I would hope that we could possibly announce something before the end of the year -- oh, sorry, within the next quarter, but that's as specific as I can be at this point in time.
It was an "Hope that" but the "Hope" was clearly related to an announcement and not just an update. Isn't it ?
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Post by mnholdem on Jan 11, 2016 8:31:28 GMT -5
Even though it was a forward-looking statement, I agree with your point that Hakan seemed to be implying that news of TS partnership would by forthcoming "by the next quarter" - or Q1.
Matt's email, as reported by careful2invest (above) indicates that Duane will update progress on any TS partnership at Wednesday's conference. Smart idea, since he will be carrying out Hakan's statement that something about TS partnership(s) will "be announced", the lawyers will no longer be able to claim Hakan's statement was misleading...
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Post by silentknight on Jan 11, 2016 8:51:56 GMT -5
If you go back and listen to the call last week, if I'm not mistaken, Matt said that the board removed Hakan as CEO. I'd call that being fired, but I suppose it's open to interpretation.
As others have said, it doesn't really matter now. Not offense to Hakan, but just like Sanofi, MNKD is better off without him. He had proven time and time again that he couldn't cut it as CEO.
I'm anxious to hear what Mr. DeSisto has to say on Tuesday. This is an opportunity to set the tone on a new chapter for MNKD. He needs to take advantage of it.
On another note, I'm happy to see that they'll be webcasting their presentation. I'm wondering if that's at Mr. DeSisto's insistence. If so, it's reassuring that they're making efforts to have greater transparency. It's something sorely needed.
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