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Post by petech on Aug 30, 2016 18:55:36 GMT -5
Mike continues to amaze me. I've never seen a more engaged individual in leadership of a company that wasn't a founder of the company. He leaves a fantastic position at Amgen where he was on a great upward trajectory. He does that to join a company that AT BEST needs to raise cash once to make it to the end of the year and he's in charge of using their precious resources to gain market traction in a highly competitive segment, with our former partner doing everything they can to blunt the sales of Afrezza (including telling the doctors that it is coming off the market before they turned it over to us as a parting gift), and insurance restrictions, and no plan to market it. That alone is flat goddamn amazing. In and of itself. You could stay at Amgen and do very well...or you can take the reigns of a company's commercialization that many describe as the Titanic post-ice-berg-hit. And he did that. If this fails, we lose our investment. Mike has to go re-establish himself at another company and have a huge stigma follow him around wherever he goes. Think about that for a minute.
Then think about how he has pretty much been the voice of the company on social media...all the while being such a professional it is absolutely astounding. Making it his personal mission to use social media to help virtually any patient get on Afrezza. And respond to multiple questions/concerns we shareholders have (which is itself an accomplishment when frustrated shareholders place blame on you etc.). And I see him trying to use social media to get some press on MNKD.
While adding this into the equation, consider finally, that he is buying shares on the open market with his own money. How easy would it be for him NOT to do that and simply wait for his options to go in the money? He's got a lot of options...and doesn't need the tens of thousands of shares he bought. Would you guys do that in his position? I find this last bit to be CONCLUSIVE evidence that he is 100% vested in the company the way only a visionary founder could be. There is ZERO hedging here by Mike. He is ALL IN. Plus he is incredibly smart (Wharton grad), as hard working as I've seen (and I've seen a LOT), and genuinely is energized to make Afrezza a blockbuster. What more could you possibly ask for of your leaders??
I don't know if we win or lose here. Honestly. But I know that since Mike joined the company, I have renewed faith that we're going to make it out of this and are in hands that are doing everything they can to win this. And if we do win, it's because Mike pretty much made this happen. No disrespect to Matt Pfeffer or anyone else, but commercialization of Afrezza is 100% the priority now.
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Post by sophie on Aug 30, 2016 19:09:42 GMT -5
I'd hire someone with the stones and bravado that Mike has in a heartbeat. It's not like we failed because of him, so I see no stigma following him. He has plenty to show for his time with MNKD. He's only made himself more marketable since he joined us.
It was the opportunity of a lifetime. Win and your family is set til the end of time. Lose and you miss out on a great job with AMGEN. Maybe he wanted out. Maybe he didn't think he had any opportunity for advancement there. Who knows? But he will find a job somewhere if this doesn't work out.
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Post by sportsrancho on Aug 30, 2016 19:11:16 GMT -5
However, I also believe that the sales of Afrezza will not blossom until after the DTP campaign begins.
Monday's FDA conference revealed that patients want to control this disease rather than for the disease to control them. Building patient awareness of the many benefits of Afrezza and how it can help the patient regain their FREEDOM will create public awareness and once patient demand increases, both the physicians and the 3rd party payers will get on board. Perhaps that little OUTsulin character will play a big part in building awareness of the REAL benefits of this TS-insulin. We'll see when MannKind brings on the marketing campaign. Bring it, Mr. Castagna, and the sooner the better for ALL stakeholders, especially the patients.
I agree, I believe Afrezza is patient driven. Just a little poll: How many people have met a diabetic in their everyday life that knows about Afrezza? I have not met one. ( No awareness ).
How many people know someone who's Doctor has introduced them to Afrezza and wrote a script? I don't know any.
How many people know a PWD that has had to ask their Doctor for a script or introduce the doc to Afrezza? I know of four.
How many of us have had to tell our Doctors about Afrezza?
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Post by centralcoastinvestor on Aug 30, 2016 19:13:48 GMT -5
Mike continues to amaze me. I've never seen a more engaged individual in leadership of a company that wasn't a founder of the company. He leaves a fantastic position at Amgen where he was on a great upward trajectory. He does that to join a company that AT BEST needs to raise cash once to make it to the end of the year and he's in charge of using their precious resources to gain market traction in a highly competitive segment, with our former partner doing everything they can to blunt the sales of Afrezza (including telling the doctors that it is coming off the market before they turned it over to us as a parting gift), and insurance restrictions, and no plan to market it. That alone is flat goddamn amazing. In and of itself. You could stay at Amgen and do very well...or you can take the reigns of a company's commercialization that many describe as the Titanic post-ice-berg-hit. And he did that. If this fails, we lose our investment. Mike has to go re-establish himself at another company and have a huge stigma follow him around wherever he goes. Think about that for a minute. Then think about how he has pretty much been the voice of the company on social media...all the while being such a professional it is absolutely astounding. Making it his personal mission to use social media to help virtually any patient get on Afrezza. And respond to multiple questions/concerns we shareholders have (which is itself an accomplishment when frustrated shareholders place blame on you etc.). And I see him trying to use social media to get some press on MNKD. While adding this into the equation, consider finally, that he is buying shares on the open market with his own money. How easy would it be for him NOT to do that and simply wait for his options to go in the money? He's got a lot of options...and doesn't need the tens of thousands of shares he bought. Would you guys do that in his position? I find this last bit to be CONCLUSIVE evidence that he is 100% vested in the company the way only a visionary founder could be. There is ZERO hedging here by Mike. He is ALL IN. Plus he is incredibly smart (Wharton grad), as hard working as I've seen (and I've seen a LOT), and genuinely is energized to make Afrezza a blockbuster. What more could you possibly ask for of your leaders?? I don't know if we win or lose here. Honestly. But I know that since Mike joined the company, I have renewed faith that we're going to make it out of this and are in hands that are doing everything they can to win this. And if we do win, it's because Mike pretty much made this happen. No disrespect to Matt Pfeffer or anyone else, but commercialization of Afrezza is 100% the priority now. Well said. The only thing I would add is to give Matt a little credit too. He's he one who hired Mike. Some of the best CEOs you never hear about, because they hire great people and empower them to do what they are best at. Mike is really good at what he does. It would be frustrating to see Matt posting in social media trying to do the same thing as Mike. It seems like a good management team has been developed at Mnkd. They are giving us their very best. Wow do I hope it pays off for lots of reasons. |
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Post by sophie on Aug 30, 2016 19:20:44 GMT -5
Right, let's not forget all the people who gave Mike the opportunity to do what he's doing. Even back to Hakan. I didn't care much for him, but he still did something, even if it took several years more than it should have to do it.
Matt also may not be getting judged fairly. In Hakan's last CC, he nearly begged for anyone to show interest in the technosphere pipeline. Matt inked a deal in far less time than Hakan did. Just because he's not being successful doesn't mean Matt's not a good CEO. As mnholdem pointed out for us, success isn't a linear line. A lot of progress has been made this year and it didn't start once Mike joined the team.
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Post by buyitonsale on Aug 31, 2016 1:18:42 GMT -5
I like Mike and what he has done so far to launch commercialization of Afrezza, defend the company, product and show commitment to patients. Actually, both Matt and Mike proclaimed that patients will continue to have access to Afrezza.
I concluded that patients can sleep well, based on the efforts and actions that Mannkind has demonstrated.
If only Mike and company would proclaim that shareholders can sleep well also... This manifesto acknowledges that the company is in difficult financial situation. After that acknowledgment I would have liked an affirmation that the company is also committed to the shareholders as much as they are committed to the fight against diabetes.
I did not read this between the lines.
In fact, through all the transparency, which I love, I have not gained that shareholder comfort level.
Mike and Matt, tell the shareholders that bankruptcy is off the table and mean it!
I know, actions speak older than words and I like the recent insider buys of course, but I think that 25K shares from Matt was not convincing... to say the least.
I can't help but recall the scene from God Father when Hyman Roth tells Michael: "I'm going in to take a nap. When I wake, if the money's on the table, I'll know I have a partner. If it isn't, I'll know I don't."
I'm 177K shares long.
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Post by kc on Aug 31, 2016 2:44:24 GMT -5
."
I'm 177K shares long. [/quote]
I appreciate your commitment were in this together.
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Post by brotherm1 on Aug 31, 2016 6:14:58 GMT -5
I like Mike and what he has done so far to launch commercialization of Afrezza, defend the company, product and show commitment to patients. Actually, both Matt and Mike proclaimed that patients will continue to have access to Afrezza. I concluded that patients can sleep well, based on the efforts and actions that Mannkind has demonstrated. If only Mike and company would proclaim that shareholders can sleep well also... This manifesto acknowledges that the company is in difficult financial situation. After that acknowledgment I would have liked an affirmation that the company is also committed to the shareholders as much as they are committed to the fight against diabetes. I did not read this between the lines. In fact, through all the transparency, which I love, I have not gained that shareholder comfort level. Mike and Matt, tell the shareholders that bankruptcy is off the table and mean it! I know, actions speak older than words and I like the recent insider buys of course, but I think that 25K shares from Matt was not convincing... to say the least. I can't help but recall the scene from God Father when Hyman Roth tells Michael: "I'm going in to take a nap. When I wake, if the money's on the table, I'll know I have a partner. If it isn't, I'll know I don't." I'm 177K shares long. [br There is company support behind the scenes. In the beginning of Spring the share price surged upwards with days of higher volume including a some around or over 30 and 40 million. Yet at the ASM Mike said he thought SNY should have sold somewhere between $20 and $40 million of Afrezza the first year. Although of course he knew SNY efforts and strategy were lacking, he knew they also had a much larger sales force. A $20-$40 million first year sales estimate coupled with a strategy to keep Afrezza alive with a cash strapped company indicates there is something behind the scenes (partner, buyout, RLS?). |
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Post by petech on Aug 31, 2016 7:30:25 GMT -5
Mike continues to amaze me. I've never seen a more engaged individual in leadership of a company that wasn't a founder of the company. He leaves a fantastic position at Amgen where he was on a great upward trajectory. He does that to join a company that AT BEST needs to raise cash once to make it to the end of the year and he's in charge of using their precious resources to gain market traction in a highly competitive segment, with our former partner doing everything they can to blunt the sales of Afrezza (including telling the doctors that it is coming off the market before they turned it over to us as a parting gift), and insurance restrictions, and no plan to market it. That alone is flat goddamn amazing. In and of itself. You could stay at Amgen and do very well...or you can take the reigns of a company's commercialization that many describe as the Titanic post-ice-berg-hit. And he did that. If this fails, we lose our investment. Mike has to go re-establish himself at another company and have a huge stigma follow him around wherever he goes. Think about that for a minute. Then think about how he has pretty much been the voice of the company on social media...all the while being such a professional it is absolutely astounding. Making it his personal mission to use social media to help virtually any patient get on Afrezza. And respond to multiple questions/concerns we shareholders have (which is itself an accomplishment when frustrated shareholders place blame on you etc.). And I see him trying to use social media to get some press on MNKD. While adding this into the equation, consider finally, that he is buying shares on the open market with his own money. How easy would it be for him NOT to do that and simply wait for his options to go in the money? He's got a lot of options...and doesn't need the tens of thousands of shares he bought. Would you guys do that in his position? I find this last bit to be CONCLUSIVE evidence that he is 100% vested in the company the way only a visionary founder could be. There is ZERO hedging here by Mike. He is ALL IN. Plus he is incredibly smart (Wharton grad), as hard working as I've seen (and I've seen a LOT), and genuinely is energized to make Afrezza a blockbuster. What more could you possibly ask for of your leaders?? I don't know if we win or lose here. Honestly. But I know that since Mike joined the company, I have renewed faith that we're going to make it out of this and are in hands that are doing everything they can to win this. And if we do win, it's because Mike pretty much made this happen. No disrespect to Matt Pfeffer or anyone else, but commercialization of Afrezza is 100% the priority now. Well said. The only thing I would add is to give Matt a little credit too. He's he one who hired Mike. Some of the best CEOs you never hear about, because they hire great people and empower them to do what they are best at. Mike is really good at what he does. It would be frustrating to see Matt posting in social media trying to do the same thing as Mike. It seems like a good management team has been developed at Mnkd. They are giving us their very best. Wow do I hope it pays off for lots of reasons. Yes please don't misread my comments here. I wasn't spiting / belittling or in any way discounting what Matt has done. I've been easily a very strong advocate of his throughout my experience as a shareholder. This was not a hidden slam on Matt or anyone else. I am aware it takes a team to accomplish greatness, but I am also aware of greatness in key people on a team has a compounding and intangible effect to lead to the goal. I see that in Mike. And was remarking how fortunate we are to have him...as he came in after the "wheels had come off." And we didn't have someone with his experience on our team and desperately needed it to get commercializing ASAP. This was not in any way to be misread as Matt, Hakan, or anyone else not being up to task. This was "did you ever stop and think how fortunate we are to have Mike join when he did and have done/keep doing everything he does?" |
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Post by end2war on Aug 31, 2016 9:42:47 GMT -5
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Post by mnholdem on Aug 31, 2016 9:50:59 GMT -5
petech ,
I think that shareholders sometimes forget that only a few short years ago (although it sometimes feels like decades) MannKind Corporation was a drug/device development company. In other words, they were in the business of developing science-based technological breakthroughs to fulfill unmet medical needs. As with most R&D / development companies, their objective was to attract pharmaceutical companies with their technology and sign deals (typically royalties) for others to develop and market their innovative (and patented) products.
Back then, I doubt that anybody could have envisioned ANY scenario in which MannKind would be marketing/selling the products it develops. The idea that MannKind's disruptive technology would face this much resistance was discussed, but perhaps not taken as seriously as it should have been. Obviously, Sanofi was supposed to be the heavy-weight champion that had the experience, organization and money to introduce a disruptive medicine like TS-insulin into the diabetes treatment market. They failed miserably.
In January 2016, having been forced into an unanticipated change in direction, MannKind Corporation required new leadership skills, primarily, individuals who had already traveled routes to commercialization success and could execute those tasks that had been expected of Sanofi-Aventis. Leaders who had travelled the roads to success in launching and commercializing new drugs were needed and CEO Pfeffer hired them.
One point that Matt Pfeffer made in January cannot be emphasized enough. In spite of great challenges, MannKind has the ability to move quickly, focus on a single product in the marketing place rather than an entire portfolio, and can be more agile in responding to the market than a behemoth like Sanofi can. The previous leadership team's strength was drug development. The new team's strength will be a major addition to the company's skillset and will result in MannKind Corporation becoming a much stronger organization as a whole.
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Post by end2war on Aug 31, 2016 9:51:59 GMT -5
At this time, I think MNKD management should be very transparent, which they are doing. Also, I think they should promote the stock since it is way underwater. This means to answer the negative hit pieces, and to take a contrary view to the short sellers. They must be extremely careful what they say, but the stock price and MC should be defended at all costs, IMO. I do see that MCs comments are having a beneficial impact today on the PPS and I hope it continues. The things they put into play take time, but the market needs to be reminded what they are doing and what they are working on to get things moving. Scripts just are not going to move till the endos start prescribing and that is a gradual process. Buying stock and speaking out seems to me both good. The next quarterly CC should be very interesting, and I hope they provide some transparency on funding that does not cause dilution concerns. I think things could be improved if MNKD and SNY can work out a termination agreement that compensates MNKD fairly for what has happened, which essentially was that SNY changed its mind about working on Afrezza due to changes in the SNY management and perhaps the errors they made in how they approached the market.
The one thing that has not changed is that Afrezza is a revolutionary product that addresses a strong need that has not been met for convenience and quick action. It is now being aggressively marketed for the first time at a lower price point to the patient and the market is so damn big that Afrezza will certainly succeed in getting a respectable script count with favorable prices. The label change will come as will the very favorable pediatric market. Is there really any doubt that they will enter other foreign markets?
The news about the epipen is really quite favorable to MNKD and I think they can be a counterpoint to Teva with a low price competitive product in that space.
Many good things on the horizon, IMO>
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Post by petech on Aug 31, 2016 10:12:24 GMT -5
petech ,
I think that shareholders sometimes forget that only a few short years ago (although it sometimes feels like decades) MannKind Corporation was a drug/device development company. In other words, they were in the business of developing science-based technological breakthroughs to fulfill unmet medical needs. As with most R&D / development companies, their objective was to attract pharmaceutical companies with their technology and sign deals (typically royalties) for others to develop and market their innovative (and patented) products.
Back then, I doubt that anybody could have envisioned ANY scenario in which MannKind would be marketing/selling the products it develops. The idea that MannKind's disruptive technology would face this much resistance was discussed, but perhaps not taken as seriously as it should have been. Obviously, Sanofi was supposed to be the heavy-weight champion that had the experience, organization and money to introduce a disruptive medicine like TS-insulin into the diabetes treatment market. They failed miserably.
In January 2016, having been forced into an unanticipated change in direction, MannKind Corporation required new leadership skills, primarily, individuals who had already traveled routes to commercialization success and could execute those tasks that had been expected of Sanofi-Aventis. Leaders who had travelled the roads to success in launching and commercializing new drugs were needed and CEO Pfeffer hired them.
One point that Matt Pfeffer made in January cannot be emphasized enough. In spite of great challenges, MannKind has the ability to move quickly, focus on a single product in the marketing place rather than an entire portfolio, and can be more agile in responding to the market than a behemoth like Sanofi can. The previous leadership team's strength was drug development. The new team's strength will be a major addition to the company's skillset and will result in MannKind Corporation becoming a much stronger organization as a whole.
Agreed on all points. I'm just so happy we got Mike when we needed him. |
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Post by peppy on Aug 31, 2016 10:21:12 GMT -5
I do hope that there is a way to find all the health conscious diabetics. There appears to be a growing market for organic foods. I wonder if the same exists in the type 1 diabetic community. It'd be a good sell. 100% human insulin with as few other ingredients as possible. And the other ingredients pass through your urine. afrezza technosphere insulin. regular human insulin delivered as a monomer. onset of activity 25-35 mins earlier than lispro. Duration of action 2 hours shorter. screencast.com/t/Ui2v2r9y4nS 4u afrezza = 3.1 unit lispro.
www.afrezza.com
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Post by audiomr on Sept 1, 2016 12:08:29 GMT -5
At this time, I think MNKD management should be very transparent, which they are doing. Also, I think they should promote the stock since it is way underwater. This means to answer the negative hit pieces, and to take a contrary view to the short sellers. They must be extremely careful what they say, but the stock price and MC should be defended at all costs, IMO. I do see that MCs comments are having a beneficial impact today on the PPS and I hope it continues. The things they put into play take time, but the market needs to be reminded what they are doing and what they are working on to get things moving. Scripts just are not going to move till the endos start prescribing and that is a gradual process. Buying stock and speaking out seems to me both good. The next quarterly CC should be very interesting, and I hope they provide some transparency on funding that does not cause dilution concerns. I think things could be improved if MNKD and SNY can work out a termination agreement that compensates MNKD fairly for what has happened, which essentially was that SNY changed its mind about working on Afrezza due to changes in the SNY management and perhaps the errors they made in how they approached the market. The one thing that has not changed is that Afrezza is a revolutionary product that addresses a strong need that has not been met for convenience and quick action. It is now being aggressively marketed for the first time at a lower price point to the patient and the market is so damn big that Afrezza will certainly succeed in getting a respectable script count with favorable prices. The label change will come as will the very favorable pediatric market. Is there really any doubt that they will enter other foreign markets? The news about the epipen is really quite favorable to MNKD and I think they can be a counterpoint to Teva with a low price competitive product in that space. Many good things on the horizon, IMO> Near as I can tell, the agreement is fully terminated. The only lingering elements are payments on the insulin put and the debt to Sanofi. |
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