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Post by hokiemcd on Apr 19, 2016 8:17:29 GMT -5
MannKind Corporation (NASDAQ:MNKD) (TASE:MNKD) today announced two senior appointments to its commercial organization. Joining the Company are Joseph Saldanha as Vice President of Marketing and Agustin (Tino) Quintero as Vice President of Market Value, Access and Trade. Both will report to Michael Castagna, MannKind's Chief Commercial Officer. - See more at: investors.mannkindcorp.com/releasedetail.cfm?ReleaseID=965732#sthash.XnywOunK.dpufAny chance the conference call today is to introduce these two new hires, talk a bit about the upcoming commercialization strategy, and that's it? Obviously, Mannkind has enough money to hire these 2 new senior guys, and also partner with Publicis Touchpoint to build a 60 person marketing team. The question is if this money is coming from an upcoming Stock Offering or if it's coming from a different source (hopefully to be discussed later today). |
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Post by mnholdem on Apr 19, 2016 8:21:19 GMT -5
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Post by factspls88 on Apr 19, 2016 9:07:37 GMT -5
I agree that Mannkind doesn't sound like a company running out of money and it is great to see management with some fire in its belly. All that said, I am tamping down my expectations for the call. In today's release about the new hires Mannkind added the following about tonight's call, "Members of the investment community are reminded of the upcoming conference call to discuss the company's general commercialization strategy in the US." I am not expecting them to discuss anything about funding the initiatives, overseas partnerships, and the like. If they do, well that would all just be gravy.  |
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Post by hokiemcd on Apr 19, 2016 10:07:10 GMT -5
factspls88... that is true about the 'general commercialization strategy', but don't you think they need to say something about where all this money is coming from? They currently have the capital to keep this company afloat for only a handful of months while running a bare bones operation. And currently, they are hiring people and other agencies that definitely aren't cheap. With the cash burn being substantially more than expected, I would guess the company has to offer the investors an explanation of some sort, if not today, then in the next couple weeks.
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Post by smwill77 on Apr 19, 2016 10:28:19 GMT -5
factspls88... that is true about the 'general commercialization strategy', but don't you think they need to say something about where all this money is coming from? They currently have the capital to keep this company afloat for only a handful of months while running a bare bones operation. And currently, they are hiring people and other agencies that definitely aren't cheap. With the cash burn being substantially more than expected, I would guess the company has to offer the investors an explanation of some sort, if not today, then in the next couple weeks. What mannkind should do is oftentimes different from what mannkind does. Matt may be a financial genious and may know what he's doing behind the scenes, but he's proven time and again he doesn't understand the pulse of Wall Street or what his investors need to here. One would think the street is curious as to how he's now going to pay for this new team he's putting in place, and one would think he gets the concept we all understand he needs to tell us soon, but he's done stranger things in the past that have made many of us just scratch our heads while we watch the share price plummet all over again. As a "genius" I hope he undertands that if he mentions their new commercial strategy in general terms again, without and substance as to how he'll actually pay for it, the street will assume those sec filings earlier for this reason alone and the price will sink. Unfortunately, Matt either doesn't get that, or doesn't care, and I think we're all going to be somewhat dissapointed (again). |
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Post by factspls88 on Apr 19, 2016 10:43:39 GMT -5
factspls88... that is true about the 'general commercialization strategy', but don't you think they need to say something about where all this money is coming from? They currently have the capital to keep this company afloat for only a handful of months while running a bare bones operation. And currently, they are hiring people and other agencies that definitely aren't cheap. With the cash burn being substantially more than expected, I would guess the company has to offer the investors an explanation of some sort, if not today, then in the next couple weeks. I absolutely think they need to say something about where all the money is coming from, but if Matt stays true to form, he will say exactly what he says he is going to say and that will likely not include specifics about where the money is coming from. That said, I think it would be safe to assume that the shelf registration has something to do with the likely source of at least some of funds. This is all just my opinion based on how Matt has operated in the past, and I could be totally wrong. In fact I hope I am wrong. He needs to address it sooner rather than later. I believe that they are conducting this call because of all the new personnel being hired, which is leaving a lot of things open to conjecture if they don't address it. As always, we shall see. |
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Post by _neil on Apr 19, 2016 10:48:36 GMT -5
I have a feeling they will evade the cash situation today. Something tells me that in their mind, the shelf offering is all the answer they are required to give. Dilute to execute I suppose
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Post by longinvstr on Apr 19, 2016 11:28:04 GMT -5
I have a feeling they will evade the cash situation today. Something tells me that in their mind, the shelf offering is all the answer they are required to give. Dilute to execute I suppose In this high-stakes poker game, it's MNKD -vs- Sanofi (posturing to maximize settlement), all other BP's in the diabetes space, GS (thwart whatever headwind exists), the cabal of assassin authors, etc, etc. If feels like MNKD -vs- the universe & the gauntlet walk continues. In this game the fewer cards shown the better. It's painful for shareholders/owners but survival dictates very, very close to the vest play. Tho I want to know it all, I also want only what is material and required by fiduciary duty to be disclosed. FWIW: I believe there is a certain source of funding that does not rely on dilution. The language Matt used in the last CC spoke to a $ source other that issuing additional shares. The confidence expressed then and the confidence shown with recent hires MUST be coming from a place other than confidence in MNKD's share price offering a reasonable source for runway extension. The three big recent hires were bated with something other than share price as a foundation. I also do not believe his previously stated position against dilution has changed. Something else is cooking & the flop comes at 5 |
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Post by sccrbrg on Apr 19, 2016 11:46:09 GMT -5
I have a feeling they will evade the cash situation today. Something tells me that in their mind, the shelf offering is all the answer they are required to give. Dilute to execute I suppose Unfortunately, I feel that way as well. Not looking forward to seeing $500M leaked into the share structure. |
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Post by smwill77 on Apr 19, 2016 12:06:53 GMT -5
I have a feeling they will evade the cash situation today. Something tells me that in their mind, the shelf offering is all the answer they are required to give. Dilute to execute I suppose FWIW: I believe there is a certain source of funding that does not rely on dilution. The language Matt used in the last CC spoke to a $ source other that issuing additional shares. The confidence expressed then and the confidence shown with recent hires MUST be coming from a place other than confidence in MNKD's share price offering a reasonable source for runway extension. The three big recent hires were bated with something other than share price as a foundation. I also do not believe his previously stated position against dilution has changed. Something else is cooking & the flop comes at 5I sure hope you're right, though, I can't recall a time during prior calls call where mgmt. wasn't giddy about some pending good news and further details would be announced "in the coming weeks, months, or next quarter". Too many times they've asked us to hold on just a little longer real information could be shared when in reality nothing would ever become of it ever again. And again, while I truly do hope you're right that MannKind's flop card will be played during this afternoon's call, that comparison is a little too close to Laker's announcement right before Sanofi dealt us their blow.
I know many of you think I'm just a short basher trying to spread FUD, and to be honest, I don't care. I have held nothing but long positions in this company for three years and have ridden the waves along the rest of you. I'm just growing increasingly frustrated with how (at least how I feel) mgmt. continues to take two steps forward, then three steps back. And to those of you who reply telling me to sell my shares and move on, no.
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Post by pktrump on Apr 19, 2016 12:23:10 GMT -5
Completely understand the analogy of keeping the cards 'close to the vest', but that has been the case for years.
I believe in transparent and blunt communication at this point. IMO, the hiring of a sales/marketing team 'infers' there are funds forthcoming
via Al Manns estate or other known (RLS) or unknown investor/silent partner. If there is such concrete financial backing or funds Matt knows about he should
announce today. The continuous lack of transparency feeds the sharks and scum of Wall Street: we need to see long term viability as shareholders. I do not think such news would impact a SNY settlement.
Constant Speculation & uncertainty is, and has, really hurt MNKD. Time to call the cards IMO.
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Post by rvc on Apr 19, 2016 12:33:53 GMT -5
MannKind's actions certainly don't seem to be those of a company running out of money, do they?   No, Mannkind's actions seem to be those of a company that is running out of money and is about to announce massive dilution through a secondary offering |
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Post by lakon on Apr 19, 2016 12:47:36 GMT -5
Not so fast guy, they still have months to get sales to ramp up. It may be the last try before dilution, but the fight has not even begun.
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Post by nylefty on Apr 19, 2016 16:02:48 GMT -5
MannKind Corporation (NASDAQ:MNKD) (TASE:MNKD) today announced two senior appointments to its commercial organization. Joining the Company are Joseph Saldanha as Vice President of Marketing and Agustin (Tino) Quintero as Vice President of Market Value, Access and Trade. Both will report to Michael Castagna, MannKind's Chief Commercial Officer. - See more at: investors.mannkindcorp.com/releasedetail.cfm?ReleaseID=965732#sthash.XnywOunK.dpufAny chance the conference call today is to introduce these two new hires, talk a bit about the upcoming commercialization strategy, and that's it? Obviously, Mannkind has enough money to hire these 2 new senior guys, and also partner with Publicis Touchpoint to build a 60 person marketing team. The question is if this money is coming from an upcoming Stock Offering or if it's coming from a different source (hopefully to be discussed later today). I'd count the eleven nurse-educators who Publicis Touchpoint is hiring for MannKind as part of the marketing team...so that makes 71, plus the three execs mentioned above. |
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