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Post by madog365 on Aug 29, 2016 10:31:36 GMT -5
What has changed in the last few weeks to cause SP to drop? Class action suit settled, positive. Cash burn continues with little uptick in Rx which is negative but no one expected uptick in Rx yet. Other than Rx count which is critical and validates or invalidates Mike C's plan, only other question we know we need more cash: where does it come from and when. At $0.70 it would be another significant dilution. it's not so much as something has changed as it is that we are once again experiencing a short attack. For most of 2Q in 2016 we were left alone hence why the price was basically sideways. This last reporting period of 8/15 it started back up again and has not let up. The daily short% is at the highest it's been in 2016 and Unfortunately there has not been enough positive material news from MNKD to counter all the short money flowing in.
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Post by Deleted on Aug 29, 2016 10:39:23 GMT -5
The family runs and controls the foundation. They benefit from it. The trustee does not run the foundation? Remember not only did it say they wanted to sell it also said if they did sell it would greatly impact MNKD's ability to raise cash.
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Post by Deleted on Aug 29, 2016 10:40:05 GMT -5
I am a MNKD shareholder who for two years bought the dip and that brought me to an 80% loss. I always thought the dip wouldn't last and here we are at .75 cents. For me it all comes down to the Al Mann Foundation. They lost a lot of money in the past two weeks. Tempers are flying and MNKD is def hearing it from them. There is a lot going on behind the scene that we do not hear about.
Great picture. MNKD share holders on the right and shorts on the left lol
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Post by kc on Aug 29, 2016 11:21:28 GMT -5
baba- good point. A buyout is the worse case but do you think $2 is a reasonable buyout number or was that more of an example? Just an example, garrett, but not totally out of left field. I hope KC's later estimate is accurate ($10), but I sure don't see anything that high without a great turnaround. It would be buying the opportunity if Afrezza proves itself they next 2 or 3 quarters assuming we get that far. Its a FDA approved drug at so far has proven to be exactly what Al Mann said it would be.
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Post by kc on Aug 29, 2016 11:27:40 GMT -5
What has changed in the last few weeks to cause SP to drop? Class action suit settled, positive. Cash burn continues with little uptick in Rx which is negative but no one expected uptick in Rx yet. Other than Rx count which is critical and validates or invalidates Mike C's plan, only other question we know we need more cash: where does it come from and when. At $0.70 it would be another significant dilution. the only real thing that has happened is that Script numbers due to the transition have gotten worst. I EXPECTED THAT TO HAPPEN. I HAVE POSTED for six months don't expect much until 4th quarter or later. My common sense and gut told me it would get worst before better as the pipeline was totally dry and you were starting at the beginning with Doctors & sales reps calling on them. Sanofi stopped promoting the product back in August 15 or earlier based on the testimony found in the Class action motion to dismiss on page 3. The sales rep stated that Sanofi stopped supporting the product in August 2015 or earlier. Sanofi sabotaged MannKind survival. Hopefully the company survives but it might not.
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Post by Deleted on Aug 29, 2016 11:32:28 GMT -5
What has changed in the last few weeks to cause SP to drop? Class action suit settled, positive. Cash burn continues with little uptick in Rx which is negative but no one expected uptick in Rx yet. Other than Rx count which is critical and validates or invalidates Mike C's plan, only other question we know we need more cash: where does it come from and when. At $0.70 it would be another significant dilution. the only real thing that has happened is that Script numbers due to the transition have gotten worst. I EXPECTED THAT TO HAPPEN. I HAVE POSTED for six months don't expect much until 4th quarter or later. My common sense and gut told me it would get worst before better as the pipeline was totally dry and you were starting at the beginning with Doctors & sales reps calling on them. Sanofi stopped promoting the product back in August 15 or earlier based on the testimony found in the Class action motion to dismiss on page 3. The sales rep stated that Sanofi stopped supporting the product in August 2015 or earlier. Sanofi sabotaged MannKind survival. Hopefully the company survives but it might not. Can you link me to those documents? I would really like to see them.
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Post by mnholdem on Aug 29, 2016 11:39:03 GMT -5
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Post by kc on Aug 29, 2016 11:39:06 GMT -5
the only real thing that has happened is that Script numbers due to the transition have gotten worst. I EXPECTED THAT TO HAPPEN. I HAVE POSTED for six months don't expect much until 4th quarter or later. My common sense and gut told me it would get worst before better as the pipeline was totally dry and you were starting at the beginning with Doctors & sales reps calling on them. Sanofi stopped promoting the product back in August 15 or earlier based on the testimony found in the Class action motion to dismiss on page 3. The sales rep stated that Sanofi stopped supporting the product in August 2015 or earlier. Sanofi sabotaged MannKind survival. Hopefully the company survives but it might not. Can you link me to those documents? I would really like to see them. You want the excerpt from the Motion to dismiss the Class action lawsuit? From :
Case 2:16-cv-00348-RGK-GJS Document 60 Filed 08/23/16 Page 3 of 8
A former diabetic sales specialist (“Former Employee 1” or “FE1”) who sold Afrezza for Sanofi in the greater Atlanta, Georgia area until August, 2015 (the very beginning of the class period) reports that the spirometry issue “was the major impediment to Afrezza prescription sales.” (First Am. Compl. ¶ 54, ECF No. 49.) However, FE1 also listed numerous other problems with Afrezza’s commercialization, including that Sanofi made “little to no effort” to deal with insurance coverage issues, “dedicated few resources or support to Afrezza sales,” or to “physician outreach,” and “provided its sales force with limited marketing materials.” (First Am. Compl. ¶ 56, ECF No. 49.) Prior to his departure, a Sanofi supervisor told FE1 that “Sanofi needed to increase Afrezza sales numbers or it might stop promoting the drug.” (First Am. Compl. ¶ 56–57, ECF No. 49.)
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Post by cm5 on Aug 29, 2016 11:55:52 GMT -5
Re: Statements of former Sanofi pharm rep in above suit---
Absolute verification of what we all suspected------inadequate support, whether intentional or intentional by lack of action and support--------
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Post by audiomr on Aug 29, 2016 12:19:17 GMT -5
What has changed in the last few weeks to cause SP to drop? Class action suit settled, positive. Cash burn continues with little uptick in Rx which is negative but no one expected uptick in Rx yet. Other than Rx count which is critical and validates or invalidates Mike C's plan, only other question we know we need more cash: where does it come from and when. At $0.70 it would be another significant dilution. Sources of cash include periodic payments from Sanofi on the insulin put, RLS milestones (though when and how much is uncertain), Afrezza revenue (small but presumably will grow), and $30 million still untapped on the Mann loan facility.
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Post by Deleted on Aug 29, 2016 12:28:55 GMT -5
Can you link me to those documents? I would really like to see them. You want the excerpt from the Motion to dismiss the Class action lawsuit? From :
Case 2:16-cv-00348-RGK-GJS Document 60 Filed 08/23/16 Page 3 of 8
A former diabetic sales specialist (“Former Employee 1” or “FE1”) who sold Afrezza for Sanofi in the greater Atlanta, Georgia area until August, 2015 (the very beginning of the class period) reports that the spirometry issue “was the major impediment to Afrezza prescription sales.” (First Am. Compl. ¶ 54, ECF No. 49.) However, FE1 also listed numerous other problems with Afrezza’s commercialization, including that Sanofi made “little to no effort” to deal with insurance coverage issues, “dedicated few resources or support to Afrezza sales,” or to “physician outreach,” and “provided its sales force with limited marketing materials.” (First Am. Compl. ¶ 56, ECF No. 49.) Prior to his departure, a Sanofi supervisor told FE1 that “Sanofi needed to increase Afrezza sales numbers or it might stop promoting the drug.” (First Am. Compl. ¶ 56–57, ECF No. 49.)
Thanks for this KC and MNHOLDEM for the court documentation. I sent to my buddy who is also my lawyer. I want to get his take on what that actually means. I can barely read and write english let alone law...lol I guess this gives us a peak behind the curtain as to what kind of discussion could be going on with SNY.
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Post by kc on Aug 29, 2016 12:46:10 GMT -5
A former diabetic sales specialist (“Former Employee 1” or “FE1”) who sold Afrezza for Sanofi in the greater Atlanta, Georgia area until August, 2015 (the very beginning of the class period) reports that the spirometry issue “was the major impediment to Afrezza prescription sales.” (First Am. Compl. ¶ 54, ECF No. 49.) However, FE1 also listed numerous other problems with Afrezza’s commercialization, including that Sanofi made “little to no effort” to deal with insurance coverage issues, “dedicated few resources or support to Afrezza sales,” or to “physician outreach,” and “provided its sales force with limited marketing materials.” (First Am. Compl. ¶ 56, ECF No. 49.) Prior to his departure, a Sanofi supervisor told FE1 that “Sanofi needed to increase Afrezza sales numbers or it might stop promoting the drug.” (First Am. Compl. ¶ 56–57, ECF No. 49.)
Thanks for this KC and MNHOLDEM for the court documentation. I sent to my buddy who is also my lawyer. I want to get his take on what that actually means. I can barely read and write english let alone law...lol I guess this gives us a peak behind the curtain as to what kind of discussion could be going on with SNY.
Getting the Motion to dismiss was perhaps a full time Job for Matt and others which might explain why he has gone silent. He can't be making public statements or Tweets when he was being deposed and while he was defending the action of MannKind. In My eyes he has been a heck of a leader in the short time he has been at the CEO level since Jan 1. He probably couldn't buy stock either. The company had no way to know that the judge was going to rule on MannKind's motion to dismiss last week or that it would be a positive motion.
What this also means is that there will be a long and winding arbitration process as MannKind probably has learned about many more incidents or knowledge of situations like what this rep brought up in his deposition. You can be sure that all things will be on the table when they get to the arbitration process but first the company has to deal with selling product. MannKind will have time to fight this battle with Sanofi as they sabotaged the MannKind. Are there Sanofi board notes and documents showing when they decided to drop the product? Was this part of hiring their New COO Brandicourt. Timing seems to put it on his hiring and the firing of Chris V. ? They are complicit in trying to destroy MannKind. That is how wall street knew way ahead of MannKind that we were in trouble. MannKind was too busy trying to follow their agreement and be a good partner. The company and shareholders got screwed by MannKind living up to their agreement.
Lets hope we have the last laugh on this by being successful.
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Post by blindhog1 on Aug 29, 2016 12:50:21 GMT -5
I'll have to say that Mike Castanga is not afraid to "belly up to the bar" unlike other "weenies." I like that. Insider trading on the BUY side ;-)
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Post by kc on Aug 29, 2016 12:51:15 GMT -5
Blindhog----- your ALIVE! I thought that some swamp rat got you as you had gone silent.
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Post by blindhog1 on Aug 29, 2016 14:17:39 GMT -5
Blindhog----- your ALIVE! I thought that some swamp rat got you as you had gone silent. Me --- Go Away --- Not a chance. You know us old people. We sit in our easy chairs watching the grass grow when we would just as soon watch MNKD stock price increase. Take Spiro as an example. He's got more irons in the fire than anyone I know of that age. I get tired just listening to him.
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