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Post by greg on May 9, 2016 20:48:25 GMT -5
The cash balance at the end of March was $27 million and the company is burning about $10 million a month. It's almost mid-May so the cash balance is down to about $13 or $14 million.
As Matt has said multiple times, a dilutive equity offering is the last option. Well, obviously, the international deal(s) haven't closed (yet?). As the old saying goes, it takes two to tango. The prospective partners have different time tables than MNKD. Not much Matt can do about that.
Instead of trashing him, we should be happy that he was working on dual tracks, namely the contingency equity offering just in case the int'l deal didn't work out, at least not on time.
I think it's totally unfair of us to trash him for doing what he had to do. As for why he didn't discuss the offering on today's CC, who knows why he didn't. Maybe it priced right before the call started. Maybe the offering closed after the CC starting, explaining the awkward pause around minute 11. Maybe he was still waiting to hear from the prospective partners to the last second before pulling the trigger. Maybe my speculation is pure nonsense, but the point is we don't know.
What I do know is that Matt has a lot of balls in the air and he is undoubtedly doing the best he can, under a lot of pressure. Let's give him credit for that. So, as far as I'm concerned...... Thank you Matt for working so hard on our behalf.
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Post by falconquest on May 9, 2016 20:55:56 GMT -5
Unfortunately it is all about results and Matt doesn't have any. The best intentions in the world don't matter. This is a sad story and getting sadder. I would like to believe in the company but I have lost faith. I do believe in the science however and wish it were in the hands of a company that could capitalize on it.
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Post by greg on May 9, 2016 21:11:47 GMT -5
Unfortunately it is all about results and Matt doesn't have any. The best intentions in the world don't matter. This is a sad story and getting sadder. I would like to believe in the company but I have lost faith. I do believe in the science however and wish it were in the hands of a company that could capitalize on it. I can't disagree that the stock price, which is the primary concern for investors, is ultimately a function of results. But I have to disagree with your statement that "it is all about results," at least as far as this thread is concerned. Common courtesy is important. So, too, is fairness. And how can you say best intentions don't matter in the trashing of someone who has the best intentions and is trying? As for results, Matt has accomplished a lot since Sanofi gave notice. It may not be to your satisfaction and he still has a lot more to do, but I couldn't disagree with you more when you say he doesn't have any results. Things take time, and it takes even longer when you're working with very limited resources. |
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Post by mbseeking on May 9, 2016 21:13:09 GMT -5
It's so hard to keep your focus on the big picture when you've lost money on a bet. In my case, a lot. But as we struggle with this innovation the news on diabetes gets worse and worse. Much so actually. It is not an epidemic, it is an existential cataclysm in waiting. www.sciencemag.org/news/2016/04/obesity-rates-skyrocket-china-s-rural-kids. Do you think China , and the majority of other countries of the world will be able to set up an endocrinologist network to manage titration of injectable insulin or the other complex drugs to save these people when diabetes develops? Or safely administer multiple daily insulin injections? Do you think they will be able to re-educate and rollback diets so the cause of the obesity goes away? That genie can be put back in the bottle? Or do you suspect, as I do, the largest hope , by far, will be an easy to administer insulin puffer. Folks, the potential market for Afrezza is astonishingly larger than we think it is today. Let's not get lost in the weeds on a little dilution on the road to that. |
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Post by Deleted on May 9, 2016 21:17:22 GMT -5
Unfortunately it is all about results and Matt doesn't have any. The best intentions in the world don't matter. This is a sad story and getting sadder. I would like to believe in the company but I have lost faith. I do believe in the science however and wish it were in the hands of a company that could capitalize on it. I can't disagree that the stock price, which is the primary concern for investors, is ultimately a function of results. But I have to disagree with your statement that "it is all about results," at least as far as this thread is concerned. Common courtesy is important. So, too, is fairness. And how can you say best intentions don't matter in the trashing of someone who has the best intentions and is trying? As for results, Matt has accomplished a lot since Sanofi gave notice. It may not be to your satisfaction and he still has a lot more to do, but I couldn't disagree with you more when you say he doesn't have any results. Things take time, and it takes even longer when you're working with very limited resources. You are right Greg. What Matt and his team have accomplished since Sanofi announcing the end of the partnership has been enormous, unheard of to do what they have done in a limited amount of time. Hell, he and Mike probably sleep at the office now. They have to be burning the oil 7 days a week. Falcon, you have a right to be upset but your comments I think are misguided. Everyone has their own risk tolerance and financial obligations and if you have truly lost faith in the company, you absolutely should part ways with your shares. You need to do what is right for you, your family and financial interests. One of the biggest mistakes investors make is holding on too long. |
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Post by rockstarrick on May 9, 2016 21:18:38 GMT -5
I agree 100% !!!
If we keep the lights on long enough for Mike and crew to hit the road selling Afrezza, does anybody really think it won't sell ??
Matt did exactly what a CEO should do in at a time like this, do whatever it takes to get enough $$$ to keep things rolling.
Thanks Matt
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Post by Deleted on May 9, 2016 21:20:16 GMT -5
It's so hard to keep your focus on the big picture when you've lost money on a bet. In my case, a lot. But as we struggle with this innovation the news on diabetes gets worse and worse. Much so actually. It is not an epidemic, it is an existential cataclysm in waiting. www.sciencemag.org/news/2016/04/obesity-rates-skyrocket-china-s-rural-kids. Do you think China , and the majority of other countries of the world will be able to set up an endocrinologist network to manage titration of injectable insulin or the other complex drugs to save these people when diabetes develops? Or safely administer multiple daily insulin injections? Do you think they will be able to re-educate and rollback diets so the cause of the obesity goes away? That genie can be put back in the bottle? Or do you suspect, as I do, the largest hope , by far, will be an easy to administer insulin puffer. Folks, the potential market for Afrezza is astonishingly larger than we think it is today. Let's not get lost in the weeds on a little dilution on the road to that. Actually, Diabetes has the capacity to bankrupt the US healthcare system. Google "Diabetic Foot Ulcer" and then click on pictures. If your stomach is not strong, I suggest not eating while doing this. Note that with an above the knee amputation, mortality rates go through the roof but before this happens, the health care costs run into the 6 figure range. Not meant to be course or caustic, but the reality of the situation. |
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Post by mnholdem on May 9, 2016 21:30:55 GMT -5
Unfortunately it is all about results and Matt doesn't have any. The best intentions in the world don't matter. This is a sad story and getting sadder. I would like to believe in the company but I have lost faith. I do believe in the science however and wish it were in the hands of a company that could capitalize on it. I'm not judging you - in fact, I generally find your posts to be relatively pragmatic - but would merely like to point out that faith is the belief in something that has no tangible proof.
Nurse educators out there by the end of this month. Sales reps hitting the high-patient clinical targets by the end of June... I have no proof that what CEO Pfeffer and CCO Castagna are planning will happen. It is an act of faith on my part to believe that Matt & Co. will deliver the sales results that I believe are the key to this investment becoming a successful one for me.
For whatever my opinion is worth...  
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Post by falconquest on May 9, 2016 21:42:46 GMT -5
Unfortunately it is all about results and Matt doesn't have any. The best intentions in the world don't matter. This is a sad story and getting sadder. I would like to believe in the company but I have lost faith. I do believe in the science however and wish it were in the hands of a company that could capitalize on it. I'm not judging you - in fact, I generally find your posts to be relatively pragmatic - but would merely like to point out that faith is the belief in something that has no tangible proof.
Nurse educators out there by the end of this month. Sales reps hitting the high-patient clinical targets by the end of June... I have no proof that what CEO Pfeffer and CCO Castagna are planning will happen. It is an act of faith on my part to believe that Matt & Co. will deliver the sales results that I believe are the key to this investment becoming a successful one for me.
For whatever my opinion is worth...
I appreciate and respect your opinion MN as well as the opinions of others. I have no problem with the sales plan going forward and realize that Matt has accomplished a great deal since January. Unfortunately the cash situation is what it is. We were all looking forward to hearing about how Matt was going to finance these plans. What we got was, "we were hoping to have something to report by now" (paraphrasing of course) and "we may have to look at issuing more shares". Which tells me he was hoping for a deal but it hasn't materialized. He was very cautious in his comments. He needed to have a plan and convey that plan. What we got is the can being kicked down the road..........again! That's not a plan, it's a hope and a prayer! |
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Post by sccrbrg on May 9, 2016 21:57:58 GMT -5
The cash balance at the end of March was $27 million and the company is burning about $10 million a month. It's almost mid-May so the cash balance is down to about $13 or $14 million. As Matt has said multiple times, a dilutive equity offering is the last option. Well, obviously, the international deal(s) haven't closed (yet?). As the old saying goes, it takes two to tango. The prospective partners have different time tables than MNKD. Not much Matt can do about that. Instead of trashing him, we should be happy that he was working on dual tracks, namely the contingency equity offering just in case the int'l deal didn't work out, at least not on time. I think it's totally unfair of us to trash him for doing what he had to do. As for why he didn't discuss the offering on today's CC, who knows why he didn't. Maybe it priced right before the call started. Maybe the offering closed after the CC starting, explaining the awkward pause around minute 11. Maybe he was still waiting to hear from the prospective partners to the last second before pulling the trigger. Maybe my speculation is pure nonsense, but the point is we don't know. What I do know is that Matt has a lot of balls in the air and he is undoubtedly doing the best he can, under a lot of pressure. Let's give him credit for that. So, as far as I'm concerned...... Thank you Matt for working so hard on our behalf. So how do you defend that bait and switch on the conference call? That was a spineless move made by a liar. |
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Post by greg on May 9, 2016 21:59:01 GMT -5
I'm not judging you - in fact, I generally find your posts to be relatively pragmatic - but would merely like to point out that faith is the belief in something that has no tangible proof.
Nurse educators out there by the end of this month. Sales reps hitting the high-patient clinical targets by the end of June... I have no proof that what CEO Pfeffer and CCO Castagna are planning will happen. It is an act of faith on my part to believe that Matt & Co. will deliver the sales results that I believe are the key to this investment becoming a successful one for me.
For whatever my opinion is worth...
I appreciate and respect your opinion MN as well as the opinions of others. I have no problem with the sales plan going forward and realize that Matt has accomplished a great deal since January. Unfortunately the cash situation is what it is. We were all looking forward to hearing about how Matt was going to finance these plans. What we got was, "we were hoping to have something to report by now" (paraphrasing of course) and "we may have to look at issuing more shares". Which tells me he was hoping for a deal but it hasn't materialized. He was very cautious in his comments. He needed to have a plan and convey that plan. What we got is the can being kicked down the road..........again! That's not a plan, it's a hope and a prayer! "What we got was, "we were hoping to have something to report by now" (paraphrasing of course) and "we may have to look at issuing more shares". Which tells me he was hoping for a deal but it hasn't materialized. He was very cautious in his comments. He needed to have a plan and convey that plan. What we got is the can being kicked down the road..........again! That's not a plan, it's a hope and a prayer!" He was working on a plan, the international deal, and hoping it would close on time. It didn't materialize, as you put it. He was also working on a contingency plan, and that's the stock offering. So, he actually had two plans. That's more than a hope and a prayer. What can was kicked down the road? I'm not sure I understand what you're complaining about. |
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Post by greg on May 9, 2016 22:02:31 GMT -5
The cash balance at the end of March was $27 million and the company is burning about $10 million a month. It's almost mid-May so the cash balance is down to about $13 or $14 million. As Matt has said multiple times, a dilutive equity offering is the last option. Well, obviously, the international deal(s) haven't closed (yet?). As the old saying goes, it takes two to tango. The prospective partners have different time tables than MNKD. Not much Matt can do about that. Instead of trashing him, we should be happy that he was working on dual tracks, namely the contingency equity offering just in case the int'l deal didn't work out, at least not on time. I think it's totally unfair of us to trash him for doing what he had to do. As for why he didn't discuss the offering on today's CC, who knows why he didn't. Maybe it priced right before the call started. Maybe the offering closed after the CC starting, explaining the awkward pause around minute 11. Maybe he was still waiting to hear from the prospective partners to the last second before pulling the trigger. Maybe my speculation is pure nonsense, but the point is we don't know. What I do know is that Matt has a lot of balls in the air and he is undoubtedly doing the best he can, under a lot of pressure. Let's give him credit for that. So, as far as I'm concerned...... Thank you Matt for working so hard on our behalf. So how do you defend that bait and switch on the conference call? That was a spineless move made by a liar. I have no idea what bait and switch you're referring to. What I do know is that I would never own stock in a company that was led by a man I thought is a liar. Perhaps it's time for you to move on. Just a final comment before I pull the rest of my hair out: Just extraordinary how folks playing around with a $1 stock get so upset that things aren't going perfectly smoothly. TINSTAAFL |
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Post by sccrbrg on May 9, 2016 22:08:04 GMT -5
So how do you defend that bait and switch on the conference call? That was a spineless move made by a liar. I have no idea what bait and switch you're referring to. What I do know is that I would never own stock in a company that was led by a man I thought is a liar. Perhaps it's time for you to move on. I would love to, but at this point it's not worth it. Why don't you go back and listen to the 30 second pause on the conference call and you'll see which bait and switch I'm talking about. |
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Post by greg on May 9, 2016 22:10:54 GMT -5
I have no idea what bait and switch you're referring to. What I do know is that I would never own stock in a company that was led by a man I thought is a liar. Perhaps it's time for you to move on. I would love to, but at this point it's not worth it. Why don't you go back and listen to the 30 second pause on the conference call and you'll see which bait and switch I'm talking about. Well, you're obviously a much smarter person than I am. I'm not very good at deciphering pauses. |
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Post by sccrbrg on May 9, 2016 22:13:15 GMT -5
I would love to, but at this point it's not worth it. Why don't you go back and listen to the 30 second pause on the conference call and you'll see which bait and switch I'm talking about. Well, you're obviously a much smarter person than I am. I'm not very good at deciphering pauses. Every person on this message board caught the stutter/pause at the financing portion. It was painfully long. You're kidding yourself if you don't think he didn't know he was going to hit the dilute button and chickened out until the call ended. |
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