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Post by bearcatmax on May 18, 2016 9:52:00 GMT -5
In the past, Mannkind executives claimed they could not purchase shares due to being in a "Blackout" period. Does Mike Castagna's 50,000 share purchase mean we are no longer in such a period? If we are not currently in a "Blackout" period, can we further assume that there are no deals or other events in the near future that would put us back into such a period? Couple other questions: Maybe he is not part of negotiations so he does not know what is being discussed? Maybe the new short term cash infusion has caused a pause in negotiations? Maybe if no deal is signed at the moment, people are able to buy stock? Sorry if these are stupid add on questions.
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Post by bradleysbest on May 18, 2016 10:20:28 GMT -5
Would be nice to see others in management buying at this price. Show some faith in your product & your ability to market & sell Afrezza!
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Post by anderson on May 18, 2016 10:31:10 GMT -5
www.sec.gov/answers/insider.htm"Illegal insider trading refers generally to buying or selling a security, in breach of a fiduciary duty or other relationship of trust and confidence, while in possession of material, nonpublic information about the security." "The rule permits persons to trade in certain specified circumstances where it is clear that the information they are aware of is not a factor in the decision to trade, such as pursuant to a pre-existing plan, contract, or instruction that was made in good faith." So since this was not made by a pre-existing plan( you always see the footnote: pursuant to a Rule 10b5-1 plan) you have to assume it is because he is not privy to any new material news since the Bank of American Merrill Lynch 2016 Health Care Conference.
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Post by sportsrancho on May 18, 2016 11:12:26 GMT -5
I have no idea, but someone on ST said he could buy but not sell. He can't trade on pending news and make a profit. Steve WYNN just bought a lot of his own stock because he felt it was undervalued. ( I jumped right in after him) but ER was close and he knew they were going to beat, and that he had new hotels opening? So not sure how it all works.
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Post by Deleted on May 18, 2016 11:14:38 GMT -5
www.sec.gov/answers/insider.htm"Illegal insider trading refers generally to buying or selling a security, in breach of a fiduciary duty or other relationship of trust and confidence, while in possession of material, nonpublic information about the security." "The rule permits persons to trade in certain specified circumstances where it is clear that the information they are aware of is not a factor in the decision to trade, such as pursuant to a pre-existing plan, contract, or instruction that was made in good faith." So since this was not made by a pre-existing plan( you always see the footnote: pursuant to a Rule 10b5-1 plan) you have to assume it is because he is not privy to any new material news since the Bank of American Merrill Lynch 2016 Health Care Conference. So you are suggesting that he is left out of those discussions which is why he could buy?
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Post by sportsrancho on May 18, 2016 11:19:08 GMT -5
www.sec.gov/answers/insider.htm"Illegal insider trading refers generally to buying or selling a security, in breach of a fiduciary duty or other relationship of trust and confidence, while in possession of material, nonpublic information about the security." "The rule permits persons to trade in certain specified circumstances where it is clear that the information they are aware of is not a factor in the decision to trade, such as pursuant to a pre-existing plan, contract, or instruction that was made in good faith." So since this was not made by a pre-existing plan( you always see the footnote: pursuant to a Rule 10b5-1 plan) you have to assume it is because he is not privy to any new material news since the Bank of American Merrill Lynch 2016 Health Care Conference. So you are suggesting that he is left out of those discussions which is why he could buy? IMO he hasn't been left out of anything. That's why he's here!
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Post by end2war on May 18, 2016 11:26:45 GMT -5
Illegal insider trading refers generally to buying or selling a security, in breach of a fiduciary duty or other relationship of trust and confidence, while in possession of material, nonpublic information about the security. We can safely assume that Castagna is not aware of any material events that are not public knowledge, which is to say that Matt is being transparent about the state of negotiations for a funding deal and it is unlikely that Castagna knows about any pending deal about to close or that is far along in negotiations with an agreement in principle. Perhaps a deal fell through as seems to have been suggested by Matt's CC, and this is a window of opportunity for an insider buy.
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Post by Deleted on May 18, 2016 11:32:55 GMT -5
So you are suggesting that he is left out of those discussions which is why he could buy? IMO he hasn't been left out of anything. That's why he's here! He def is some needed muscle.
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Post by madog365 on May 18, 2016 11:33:50 GMT -5
Isn't it possible that the buy was initiated at a earlier time but actually went through on this date. Similar to how a stock purchase plan typically works for employees who don't have a choice on the date stock is purchased?
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Post by mnkdorbust on May 18, 2016 11:43:46 GMT -5
I would personally like to see Matt put his money where his mouth is and buy 50,000, 100,000, 1,000,000 etc. shares. That would be better for the company and investors than lip service.
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Post by ilovekauai on May 18, 2016 11:54:44 GMT -5
I suspect other senior management staff will follow Michael's lead if allowed to. Someone had to first and IMO this is a positive development; however small, and another move in the right direction. Many here have a lot of poker chips on the table. Fingers crossed for the future success of Afrezza, and for the millions of diabetics that will benefit from this. Aloha.
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Post by Deleted on May 18, 2016 12:53:37 GMT -5
Not one article out there the CCO made an open market purchase. Still daily articles about the earnings call disaster. I am not saying its not true its just amazing that no one writes about it.
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Post by ilovekauai on May 18, 2016 13:04:10 GMT -5
Nothing is ever mentioned about the wonders of Afrezza either. It's a long slog to come back, and we'll get no help from the "writers" et al, whose only mission is to help force MNKD into BK. That's what they want and hope for. We have few friends out there these days, but slowly the worm will turn IMO. Right now, it's a race between the cash burn and script counts. I look to Quarter 4, and really nothing else; remaining hopeful that script counts will begin to rise by then. Fingers crossed.
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Post by lakon on May 18, 2016 13:37:22 GMT -5
Nothing is ever mentioned about the wonders of Afrezza either. It's a long slog to come back, and we'll get no help from the "writers" et al, whose only mission is to help force MNKD into BK. That's what they want and hope for. We have few friends out there these days, but slowly the worm will turn IMO. Right now, it's a race between the cash burn and script counts. I look to Quarter 4, and really nothing else; remaining hopeful that script counts will begin to rise by then. Fingers crossed. Luckily, anyone could be a writer. Some on the boards are. Personally, I have been working on a number of articles, but never seem to have time to finish. If more would participate, a counter-FUD and rebuttal system could be useful. Then, there is the whole issue of getting it published somewhere... The cynic in me must point out that Mike's timing before the annual shareholders meeting is priceless. I like Mike. Still.
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Post by rockstarrick on May 18, 2016 13:45:43 GMT -5
I just look at the buy as a display of his confidence in the product he will soon be marketing, nothing more. Thanks Mike
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