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Post by peppy on Apr 26, 2016 16:52:46 GMT -5
Slow roll out have to educate the endo's would not give a price, talked about label enhancement. Talked about international sales applications.
No financing talk until May, 9th CC
New 8-K filing secfilings.nasdaq.com/filingFrameset.asp?FilingID=11335900&RcvdDate=4/26/2016&CoName=MANNKIND%20CORP&FormType=8-K&View=html
they told us the plan
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Post by sweedee79 on Apr 26, 2016 17:06:57 GMT -5
Yes.. we know way more than we ever did when Afrezza was in SNY hands... I was happy with the call. They were confident and to the point.
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Post by falconquest on Apr 26, 2016 17:23:41 GMT -5
They actually did a good job with the call. Unfortunately the theme was that it will take a while. I've already been here a while. I'm done waiting a while. I'm out and will get back in when the slope on the chart is moving in an upward direction.
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Post by mnholdem on Apr 26, 2016 17:26:06 GMT -5
"Seventy sales reps focusing 100% on detailing Afrezza is the equivalent of 700 Sanofi sales reps who only devoted 10% of their effort on Afrezza." [paraphrased].
What I heard was smart. It's always better to under-promise and over-deliver than to do the opposite.
I suggested that Matt/Matt are not going to specify pricing and alert competitors. I'll be keeping an eye on formularies, though...
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Post by dreamboatcruise on Apr 26, 2016 17:29:19 GMT -5
"Seventy sales reps focusing 100% on detailing Afrezza is the equivalent of 700 Sanofi sales reps who only devoted 10% of their effort on Afrezza." [paraphrased]. What I heard was smart. It's always better to under-promise and over-deliver than to do the opposite. I suggested that Matt/Matt are not going to specify pricing and alert competitors. I'll be keeping an eye on formularies, though... I missed the call. Did they discuss formulary improvement at all?
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Post by brotherm1 on Apr 26, 2016 17:36:11 GMT -5
Down in after hours trading. The call sounded good to me. Why the after hours selling? Is it short selling trying to create an atmosphere of disappointment?
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Post by sluggobear on Apr 26, 2016 17:39:31 GMT -5
MNKD - killed in AH trading. The US Launch 2.0 plan is not INSPIRING. I wanted to hear that they are going to set a price that will turn heads everywhere. I wanted to hear that they know now that in order to effect a true paradigm shift, they need widespread awareness...but without $50m to spend on advertising, they can't do it the old-fashioned way. Instead they will have to light brush fires by pricing it so that insurance coverage (and especially PA's) become a non-issue.
I am not convinced that taking a slightly (IMO) different, more focused tack in launching Afrezza in the US (versus what Sanofi did), will accomplish the massive turnaround in sales and awareness that is needed now. Jason Butler, JMP: "Are the physicians you've spoken to willing to write Rx's for more patients given the hurdles and push-back from managed care? What were the hurdles and issues in the physicians' minds, and in their minds, were these issues addressable"? Mike said he "wouldn't be sitting here if he didn't think they were addressable". He "did his own research before accepting the role. One of the big ideas was that they stopped prescribing when they got the notice of SNY dropping out." The plan is to get back the physicians who stopped prescribing after Jan? That's not going to be enough at all.
I assumed Mannkind and Sanofi must know what NOT to do given the failed Exubera launch - they must appreciate the problems with pricing!!, PA's!!, dosing!!, physician resistance!!, and of course the lung test. I assumed Afrezza would succeed NOT just because it was a smaller device and used a faster, monomeric insulin but because they had learned all those things from the past.
Sure - now they have Mike on board to reassure them that Sanofi did a miserable job. But they should have understood what they were up against. At this point I'm still calling for a Hail Mary.
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Post by dreamboatcruise on Apr 26, 2016 17:42:57 GMT -5
Down in after hours trading. The call sounded good to me. Why the after hours selling? Is it short selling trying to create an atmosphere of disappointment? Here on proboards it seems that one or two longs were disappointed enough that they decided to retreat to the sidelines for the time being. So I guess part of the answer lies in the fact that some longs were genuinely disappointed with no need for any atmospherics from the short side. My expectations were set low, so I'm not disappointed (based on what I've read of the call here). I believe some were looking for a real catalyst event to be announced... then disappointment would be the logical response.
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Post by blindhog1 on Apr 26, 2016 18:12:30 GMT -5
Down in after hours trading. The call sounded good to me. Why the after hours selling? Is it short selling trying to create an atmosphere of disappointment? Here on proboards it seems that one or two longs were disappointed enough that they decided to retreat to the sidelines for the time being. So I guess part of the answer lies in the fact that some longs were genuinely disappointed with no need for any atmospherics from the short side. My expectations were set low, so I'm not disappointed (based on what I've read of the call here). I believe some were looking for a real catalyst event to be announced... then disappointment would be the logical response. I liked what I heard too. They already told everyone that the 3rd Quarter was the time. Now we know what they have to do in the meantime and how they plan to do it. To ask any more would have been naïve. I liked the way Mike and Matt handled the Sanofi questions. This is not the time or place to say Sanofi was a disaster of epic proportions. I imagine that will be handled in more somber chambers and as Matt indicated "The flow of money will be in our direction" (paraphrased). So all that being said if you don't like the plan you can just move on. I don't think your bitching here will do any good.
I once had someone ask me: "Do you know the difference between you and I?" My answer was: "Yes. You seem to think whatever it is matters and I don't give a damn."
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Post by mnholdem on Apr 26, 2016 18:19:51 GMT -5
"Seventy sales reps focusing 100% on detailing Afrezza is the equivalent of 700 Sanofi sales reps who only devoted 10% of their effort on Afrezza." [paraphrased]. What I heard was smart. It's always better to under-promise and over-deliver than to do the opposite. I suggested that Matt/Matt are not going to specify pricing and alert competitors. I'll be keeping an eye on formularies, though... I missed the call. Did they discuss formulary improvement at all? Mike definitely addressed copayment and patient accessibility as key. Payer talks are already underway and "going well", according to Mike, who mentioned his newly hired right-hand man with a background in payer negotiations. Mike included patient access as one of the "barriers" he stated that he has talked with physicians about. He also stated emphatically that if he didn't believe that those barriers could be removed, he wouldn't have taken the job. Pretty confident guy, IMHO. I hope this answered your question until the transcript is released.
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Post by patten1962 on Apr 26, 2016 18:41:17 GMT -5
"Seventy sales reps focusing 100% on detailing Afrezza is the equivalent of 700 Sanofi sales reps who only devoted 10% of their effort on Afrezza." [paraphrased]. What I heard was smart. It's always better to under-promise and over-deliver than to do the opposite. I suggested that Matt/Matt are not going to specify pricing and alert competitors. I'll be keeping an eye on formularies, though... I missed the call. Did they discuss formulary improvement at all? Bullet points with out the bullets. @mannkindcorp: $MNKD plans to expand internationally based on strategic factors. @mannkindcorp: $MNKD Uninterrupted supply of #Afrezza available through all channels. MNKD-branded inventory available early 3Q16. @mannkindcorp: $MNKD Pre-April 5 co-pay assistance program active through year end. MNKD co-pay program active beginning 4/5/16. @mannkindcorp: $MNKD #Afrezza commercial strategy centered on 3 elements: Focus, Prioritize, Simplify. @mannkindcorp: $MNKD Targeting Endos, who influence ~60% of insulin Rx's and dosing changes. 2X likely to be early adopters. @mannkindcorp: $MNKD Targeting T1s who want new solutions to manage BG, & T2s who need new solutions to manage BG. @mannkindcorp: $MNKD In discussions now with insurance co's to improve patient access to #Afrezza. @mannkindcorp: $MNKD New patient support program will simplify onboarding & support during initial 30-60 days. @mannkindcorp: $MNKD Creating new commercial titration kit to ensure easier initiation & more flexibility for patients using #Afrezza. @mannkindcorp: $MNKD Evaluating spirometry vendors to ensure target Dr's have in-office testing to ramp new patients quickly. @mannkindcorp: $MNKD Looking at opportunities for label enhancements both short and long term across 4 key areas. @mannkindcorp: $MNKD Label enhancements targeted for hypo rates in T1's, PK/PD profile, pediatric program, as-necessary dosing. @mannkindcorp: $MNKD Evaluating a 2U cartridge to address certain patient populations. @mannkindcorp: $MNKD Building contract sales org of ~50-70 sales reps, nurse educators/CDEs, to be located in major metro areas. @mannkindcorp: $MNKD CMO Ray Urbanski expanding organization into medical affairs and pharmacovigilance personnel. @mannkindcorp: $MNKD Presenting 6 papers at #ADA2016 in June, including 2 late-breaking abstracts. m.twitter.com/MannKindCorp
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Post by seanismorris on Apr 26, 2016 18:55:08 GMT -5
I think the people bailing on MNKD are tired of MannKind kicking the can down the road. There are a lot of questions left unanswered. The people that were optimistic going into the call thought we might have a partner announcement. Or, that Sanofi was going to cough up some serious cash. They wanted to hear that MannKind would survive... That didn't happen.
My expectations (I think) were more realistic. I didn't expect sales to make a turn around this year, and I figured that MannKinds evolution would be a long process. MannKind wasn't set up to market Afrezza, etc. and now they need to transform themselves into something new. They realized that with all the barriers to success for Afrezza the only option was to do it themselves. The problem is Afrezza is a hard sell for doctors. Prescriptions were wrong, lung tests a pain, and formulary access restricted, Label, etc.. It's going to take some time to change perceptions...
Their marketing approach I think is the right one. And, the internal people (both talent wise, and ability to talk with shareholders) is greatly improved.
MannKinds future in many ways looks bright, but there is the overhang of funding, and dilution is almost guaranteed. In other words, MNKD the stock looks terrible both technically and realistically.
I wouldn't be surprised if we see MNKD < $1. The next call will be the tipping point, and it's just around the corner.
I'm still Long MNKD and I'd like to set up a trade on some good news, but if there aren't answers to the finances in May I don't see the company surviving. If Al was still around I'd be very optimistic. If we had the cash to survive the next 2 years, I'd be backing up the truck right now.
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Post by mnholdem on Apr 26, 2016 18:56:34 GMT -5
Nice note taking, patten! I couldn't keep up with Mike talking so fast. Your post (bullet points without bullets) is very much appreciated.
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Post by seanismorris on Apr 26, 2016 19:04:53 GMT -5
I agree. We have half the plan and it looks good.
Of course any person Long MNKD could have created the same list...
The 2nd half of the plan is all Matt's. I hope he brings his A game in May!
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Post by peppy on Apr 26, 2016 19:22:39 GMT -5
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