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Post by sccrbrg on Apr 5, 2016 11:24:22 GMT -5
With today's announcement this seems to be an even larger possibility. No changes to pricing until q3 means no changes to pricing or insurance coverage until they run out of money...
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Post by liane on Apr 5, 2016 11:47:20 GMT -5
I see no reason why MNKD can't sell their stash of Afrezza for whatever they feel is right. Let's start a price war with SNY.
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Post by sccrbrg on Apr 5, 2016 11:54:33 GMT -5
Based on Matt's previous comments on the CC and the PR it sounds like they will have to use the SNY supply until it runs out. Even if they hadn't made those statements, I would be highly surprised if SNY was dumb enough to not have that contingency in the agreement - that's a basic separation principle.
MNKD needs to address the cash situation in the next week or so, otherwise the stock will get hammered and rightfully so.
At this point it is already far too late to cover their cash burn with operations by the time the money runs out (possibly at the end of q2 given the increasing cash demand from return of operations and commercialization).
Bankruptcy is literally at the door, and they need to address how they are going to avoid it otherwise we will get wiped out in the mean time.
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Post by seanismorris on Apr 5, 2016 12:09:47 GMT -5
The stock chart says more downside ahead. I'm not thinking BK but it's time for Matt to give an update.
I see MNKD going below $1.40 unless we get more info.
Insulin has doubled in price in 10 years. MannKind needs to go on the attack with regards to pricing plans.
The medical industry has been on the defensive (and rightly so) it's time for MannKind to get in bed with the politicians and get some ally's.
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Post by sccrbrg on Apr 5, 2016 12:13:15 GMT -5
Just out of curiosity, why don't you think BK is a possibility when they have no cash and such a high burn rate?
They have yet to announce any cash inflows that could stave it off.
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Post by peppy on Apr 5, 2016 12:14:49 GMT -5
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Post by sccrbrg on Apr 5, 2016 12:18:09 GMT -5
If you don't have cash, assets don't mean anything until you hit the bankruptcy auctions...
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Post by seanismorris on Apr 5, 2016 12:25:48 GMT -5
I'm giving Matt the benefit of the doubt for now. I think he has plans but wasn't able to do anything until getting the rights to Afrezza back. It's time to hear what the plan is. I very much agree that addition funding is necessary.
MannKind is a sell the news stock, today is more of the same. But, I'm cautiously optimistic with Matt at the helm. He knows what it takes to raise funds. Investors may not like what the plan is (dilution) but I'm betting MannKind survives.
I don't see MNKD being a big moneymaker for investors in the near to medium term, but I'm looking for trades and will keep a long position.
The risk/return may not be a good deal for Longs but the technology remains intriguing.
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Post by peppy on Apr 5, 2016 12:39:49 GMT -5
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Post by stevil on Apr 5, 2016 12:40:39 GMT -5
One of the most troubling thoughts I have is that if MNKD was truly as confident as they appear to be, why was it SNY that walked away and not them? Why was this confidence born out of mayhem instead of being planned?
I kind of think that Matt truly believes he can save this thing. I think Al thought the same. They clearly believe in their product- as they should. But believing and doing are two different things. If no one wants to buy the greatest product in the world, it doesn't really have any value. Things are only worth what people will pay for them.
It's not that I was expecting a flashy statement or big news. I think I might sell out next month if Matt doesn't outline exactly what his plan is to right this ship. It's not right to ask people to trust him if he's not willing to give us reason to do so.
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Post by peppy on Apr 5, 2016 12:48:19 GMT -5
One of the most troubling thoughts I have is that if MNKD was truly as confident as they appear to be, why was it SNY that walked away and not them? Why was this confidence born out of mayhem instead of being planned? I kind of think that Matt truly believes he can save this thing. I think Al thought the same. They clearly believe in their product- as they should. But believing and doing are two different things. If no one wants to buy the greatest product in the world, it doesn't really have any value. Things are only worth what people will pay for them. It's not that I was expecting a flashy statement or big news. I think I might sell out next month if Matt doesn't outline exactly what his plan is to right this ship. It's not right to ask people to trust him if he's not willing to give us reason to do so. Ringing in my ears, Matt: "if we have to have afrezza as a niche product we will. we will assure it is available." what I heard, and had to come to grips with, is afrezza is important, they have moved on to technosphere. licensing. that is the 2.0.
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Post by stevil on Apr 5, 2016 13:05:48 GMT -5
I have no problem with that... I had always hoped Afrezza would be the new gold standard for prandial insulin. I mean, it can't really get a whole lot better or easier.
Moving on from Afrezza isn't the issue, though. Not for me anyway. I know that most on here don't think MNKD can go bankrupt because Afrezza is just too good to fail. The problem I have is that our fate is likely tied to Afrezza at this moment in the company's lifetime. A deal was just made for the first TS application with no upfront money. Cash is short. SNY didn't keep other companies away from making deals for other TS applications. If others wanted in, there was no stopping them.
As many others have said, even if we do survive through another offering- the more you need money, the harder it is to get. We won't be in a position of strength to negotiate good deals if we're fortunate enough to even have interest. I doubt that we've turned many prospects away when Hakan has to essentially beg for people to contact them with interest.
I really do wish I could share the optimism of all those on the board. I've found that you have to have an imagination right now to be optimistic and all my science classes destroyed my imagination years ago. All the theories on this board could one day prove to be accurate. So far they have not been. I sometimes wonder if we're stuck in a cloud of delusion. The longer I stay here the more I buy into it ha. So much research that appears to tell one story, only to find out, in time, none of it was true. It was all just a figment of our imagination...
I'm sure many won't believe me but it will be hard for me to sell my shares next month if the CC doesn't have good news. I've ridden this stock down because I've always believed in it and wanted it to succeed. I haven't sold one share yet and I've added twice, most recently last month when the technicals changed. It's hard to hold even for the hope of a buyout. I really hope things turn around very soon. Not just for myself, not just for us all, but for MNKD. I love medicine. I devoted my life to it. It will be a damn shame if this technology gets buried because no one developed it and we were incapable of going it alone.
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Post by mnholdem on Apr 5, 2016 13:25:51 GMT -5
Immediate cash via ex-U.S. Afrezza distribution agreement(s) is also an important objective in MannKind 2.0 - in fact it was listed, and inferred will come, next after a TS-partner, a partnership which was announced one week later as Receptor Life Sciences.
However, MannKind has been restrained from official partnering negotiations for global Afrezza distribution until today.
With the return of the Afrezza NDA, negotiations with partners for international sales of Afrezza within regions that rubber stamp FDA-approved medicine can commence immediately. MannKind has fielded inquiries by at least two parties of interest, according to CEO Matt Pfeffer, but it's quite likely that official negotiating had to wait until today, which indicates that any announcement of a signed Afrezza distribution agreement will be 6-8 weeks away.
However, Matt can certainly announce that negotiations have commenced with one or more international partners. A similar announcement was made after Afrezza was approved by the FDA, about 8 weeks before Sanofi was named as our new partner.
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Post by kball on Apr 5, 2016 13:27:51 GMT -5
One of the most troubling thoughts I have is that if MNKD was truly as confident as they appear to be, why was it SNY that walked away and not them? Why was this confidence born out of mayhem instead of being planned? I kind of think that Matt truly believes he can save this thing. I think Al thought the same. They clearly believe in their product- as they should. But believing and doing are two different things. If no one wants to buy the greatest product in the world, it doesn't really have any value. Things are only worth what people will pay for them. It's not that I was expecting a flashy statement or big news. I think I might sell out next month if Matt doesn't outline exactly what his plan is to right this ship. It's not right to ask people to trust him if he's not willing to give us reason to do so. Ringing in my ears, Matt: "if we have to have afrezza as a niche product we will. we will assure it is available." what I heard, and had to come to grips with, is afrezza is important, they have moved on to technosphere. licensing. that is the 2.0.
You may be right peppy. But it wouldnt surprise any/many of us if team technosphere is in shambles right now with the layoffs (not to mention those abandoning ship). I recall matt alluding to this as cost cutting measures necessary for the handback of afrezza and all that entails. I hope he addresses it, but 1) i'm not counting on it and 2) If he does, I'm fearing the worst news on it |
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Post by peppy on Apr 5, 2016 13:35:44 GMT -5
Ringing in my ears, Matt: "if we have to have afrezza as a niche product we will. we will assure it is available." what I heard, and had to come to grips with, is afrezza is important, they have moved on to technosphere. licensing. that is the 2.0.
You may be right peppy. But it wouldnt surprise any/many of us if team technosphere is in shambles right now with the layoffs (not to mention those abandoning ship). I recall matt alluding to this as cost cutting measures necessary for the handback of afrezza and all that entails. I hope he addresses it, but 1) i'm not counting on it and 2) If he does, I'm fearing the worst news on it I will be the crazy one. I do not see it as a ship abandonment. I see it as a ship realignment, to right the ship.
The abandonment to receptor life you mean? andrea? hakan?
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