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Post by peppy on Jan 28, 2016 8:42:55 GMT -5
Hate to ask it, but are they going to sell Afrezza and then take TS private? interesting in this regard.. would this require all short shares to be returned?
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Post by LosingMyBullishness on Jan 28, 2016 9:28:43 GMT -5
I ironically checked her LinkedIn last week and the RLS position was not there and then all of a sudden pops up with a retro date of October? Something just doesn't seem right but another day in the reality tv world of MNKD!!!! Relax. This is what people do at LinkedIn: They update their status once a while. This is not some sinister plot.
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Post by LosingMyBullishness on Jan 28, 2016 9:35:53 GMT -5
coo, It is not that unusual that you work for a company before it is formally founded. It is CV-housekeeping to adjust it afterwards. I trust that this is correct and that Mannkind has been working on this TS application for some months. When I worked for an investment company, we masterminded a listing plan with our trading customer and had worked out a list of directors & management team for a joint venture to be formed in the future. Such company was only part of the development plan after successful listing. And I was on the list too. However, it was very clear to me that such work was not on personal capacity. Thus, it is not unusual to work with would-be shareholders of a company to be formally established in the future. However, while working full time for your employer and at the same time getting paid for work for other venture without employer's prior approval is unethical and possibly a breach of fiduciary duty when conflict of interest is involved. Since we have no idea whether Andrea Leone Bay was assigned to work for RLS or not, I cannot conclude anything at this moment. Understood. I would rather see this as a minor issue, not something to get sued for. Probably they did some tests last year and it was clear to both partners that she will move to RLS at some time. MNKD was eager to reduce headcounts and RLS was okay with it. Do you really see a risk here?
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Post by boytroy88 on Jan 28, 2016 10:22:58 GMT -5
Huh? Why would it think that? What Wall Street wants: RLS to be a company that is independent from mnkd who has experienced people and who is putting up their own capital. What Wall Street doesn't want: RLS to be a company of ex mnkd employees who start up their own company and symphon off the technology from mnkd for no upfront money. From recent sp it looks like WS doesn't like it....
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Post by mallen943 on Jan 28, 2016 10:24:12 GMT -5
WA published RLS corporate registration only a week ago. Maybe she was waiting for that.
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Post by suebeeee1 on Jan 28, 2016 10:28:02 GMT -5
It seems like most around here must have only worked for one company their entire lives? How else could it be that some people have trouble recognizing when a upper-middle management person goes to work for a company that does business with her own? Clearly, while RLS was negotiating with MNKD (before all the ink was dried on RLS's corporate paperwork), they spied Andrea and made her a better offer. Not unheard of.
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Post by mindovermatter on Jan 28, 2016 10:38:30 GMT -5
It seems like most around here must have only worked for one company their entire lives? How else could it be that some people have trouble recognizing when a upper-middle management person goes to work for a company that does business with her own? Clearly, while RLS was negotiating with MNKD (before all the ink was dried on RLS's corporate paperwork), they spied Andrea and made her a better offer. Not unheard of. The problem is we do not know why she changed positions. Was it that she saw Mannkind as a dysfunctional company and wanted out? Or is this part of a strategic plan of Mannkind and other entities to move Technosphere along?
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Post by lorcan458 on Jan 28, 2016 10:53:13 GMT -5
I think it was a win-win situation. Mannkind has to provide senior scientific support, per the agreement with RLS. RLS has the cash to pay her well and her salary gets removed from Mannkind's payroll.
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Post by lorcan458 on Jan 28, 2016 10:57:03 GMT -5
My impression is that at the beginning, RLS is probably going to be working directly in Mannkind's labs, learning how to set up a Technosphere manufacturing facility, if needed. I don't think that's the best use of RLS's money, though. Mannkind has a proven manufacturing capacity, a proven lab. Why not just rent what they need from Mannkind rather than build their own at this point.
I think in a lot of cases, people will continue their work and the only change will be the signature on their paycheck. It would be very inefficient otherwise.
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Post by mnholdem on Jan 28, 2016 10:57:30 GMT -5
Andrea has worked for RLS since November 2015? Hmmm... wasn't that around the time that former CEO Edstrom resigned? Now, wouldn't it be very interesting if Hakan's name also pops up as an employee of Receptor, perhaps as Chief Operating Officer, a position he held at MannKind for nearly a decade?
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Post by mnkdfann on Jan 28, 2016 11:00:11 GMT -5
1. Did Mannkind ever announce her departure or replacement?
2. This situation (Leone-Bay going to RLS) irritates me insomuch as Matt's past statements and Mannkind's FAQ about the RLS deal indicated that there was no linkage between RLS and MNKD.
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Post by bthomas55ep on Jan 28, 2016 11:04:10 GMT -5
1. Did Mannkind ever announce her departure or replacement? 2. This situation (Leone-Bay going to RLS) irritates me insomuch as Matt's past statements and Mannkind's FAQ about the RLS deal indicated that there was no linkage between RLS and MNKD. I think he stated no linkage between RLS and Al Mann. Could be Novartis(or some other named BP like Glaxo) is RLS and they hired Andrea to integrate their formula into T/S. If it works, they announce, if it doesn't, RLS goes away. Who know's right now.....
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Post by therealisaching on Jan 28, 2016 11:06:46 GMT -5
1. Did Mannkind ever announce her departure or replacement? 2. This situation (Leone-Bay going to RLS) irritates me insomuch as Matt's past statements and Mannkind's FAQ about the RLS deal indicated that there was no linkage between RLS and MNKD. Matt really needs to have a press release out on this today. I'm assuming she jumped the gun by updating in a public forum. We need the background on this move.
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Post by mnkdfann on Jan 28, 2016 11:08:36 GMT -5
1. Did Mannkind ever announce her departure or replacement? 2. This situation (Leone-Bay going to RLS) irritates me insomuch as Matt's past statements and Mannkind's FAQ about the RLS deal indicated that there was no linkage between RLS and MNKD. I think he stated no linkage between RLS and Al Mann. The FAQ states: "The licensing agreement is between MannKind and Receptor Life Sciences, Inc., an independent company, not affiliated with MannKind." That may be technically true (depending on how you parse the words), but in hindsight it was evasive or misleading if one or more of Mannkind's senior people were involved with it from the get go. YMMV and that is what makes the world go around.
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Post by mnholdem on Jan 28, 2016 11:09:45 GMT -5
Link: www.mannkindcorp.com/Collateral/Documents/English-US/TS%20licensing%20FAQ.pdf
Who is the licensing agreement with? The licensing agreement is between MannKind and Receptor Life Sciences, Inc., an independent company, not affiliated with MannKind. The company is private and newly formed under this name. We can confirm that the company is funded by an important investor group, supported by prominent business leaders in the Seattle area. Alfred Mann is not an investor or in any way affiliated with Receptor. MannKind did significant diligence in regards to Receptor and its financial backers, and came away quite impressed. But the underlying investors, for good reasons of their own, need not and choose not to disclose their involvement at this time.
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Matt's comment of record only speaks about Al not being affiliated. People seem to be assuming more than what has been disclosed.
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