|
Post by dictatorsaurus on Sept 16, 2016 12:10:46 GMT -5
FYI - Duane DeSisto's last day of his non-compete agreement with Insulet is tomorrow. Curious what DeSisto could do differently to turn things around?
|
|
Deleted
Deleted Member
Posts: 0
|
Post by Deleted on Sept 16, 2016 12:11:23 GMT -5
The one question I have asked but nobody including myself has been able to answer is why did Mike C join Mannkind. He is a bright guy, clearly capable and knows the pharma industry well. He was far up the food chain at Amgen and likely living a comfortable life. No way he went to Mannkind without doing a lot of due diligence. He knows how hard it is to launch a new drug yet along relaunch a product that initially did not do well. He had to receive some type of assurances when he was being courted and part of those had to be some type of commitment that the company would have enough resources to give him at least a year and likely more to make Afrezza a success. Unless he was leaving Amgen and had nothing to lose by joining Mannkind (my gut tells me this was not the case) Mannkind had to demonstrate resources to give Mike a viable chance to make Afrezza a success. I will give you a bunch. There are no assurances in life for anything. 1) Salary Increase hence where do you think the money came from all these open market purchases 2) Huge difference between a COO position then a VP. That alone is a pretty big documented advancement in position regardless the out come of MNKD 3) Filthy Rich if he even remotely suceeds 4) What a legacy he will have, and what he can command down the road
|
|
|
Post by kbrion77 on Sept 16, 2016 12:12:27 GMT -5
^ Still thinking that whole non compete excuse was a red herring. To save a reputation about changing mind due to circumstances . (it would be among the first few things to iron out before acceptance) Having said that, I'd welcome some new life to the company as we got a nice boost of energy with Mike, probably same w DD It was a bizarre situation and not a fun feeling when they withdrew. I'm not even remotely close to a legal expert but I found it odd it took some 19 days to initiate the non-compete clause, is that a normal time frame? And also lets say DeSisto backed out from SNY termination and MNKD wanted to save face, did either DD or MNKD go to Insulet and say hey guys can you please trigger this non-compete clause for us? I don't know why I even care about it anymore but it's still kind of bizarre.
|
|
|
Post by mannmade on Sept 16, 2016 12:20:58 GMT -5
I think it was because that's the time it took for Insulet to let MannKind know it was unacceptable to them and they considered it a violation of his separation agreement for non-compete. Guess that since he was more than adequately rewarded on the way out from Insulet that he did not want to risk nor did he like the idea of a protracted law suit and either did Mnkd.
I have posted here before why I believe Duane is not coming back (nor do I believe he should at this point) for the following reasons:
1. He did not hire Mike and his team and a new leader always likes to put in their own people for the most part especially at the most senior level where they are direct reports 2. Why would MannKind and where would MannKind get the money to pay him when they are strapped for cash at the moment? 3. We are only 2 1/2 months into the launch of MannKInd 2.0 and Duane is not going to want to come in and be a caretaker for someone else's business plan. Where's the credit for him in that? And there is no time to change the current plan and start over at this point. 4. Matt and Mike are doing a very good job with the resources they have. 5. It is my understanding that Duane left Insulet under some kind of cloud, although not sure what
Now what might make sense is to hire him as an executive consultant and just give him warrants or options.
|
|
Deleted
Deleted Member
Posts: 0
|
Post by Deleted on Sept 16, 2016 12:46:43 GMT -5
Now what might make sense is to hire him as an executive consultant and just give him warrants or options. ^^ This .. and to add funnel Hakan's expenditure to DeSisto. More value for $$$. What's BoD doing?
|
|
|
Post by saxcmann on Sept 16, 2016 13:19:48 GMT -5
The one question I have asked but nobody including myself has been able to answer is why did Mike C join Mannkind. He is a bright guy, clearly capable and knows the pharma industry well. He was far up the food chain at Amgen and likely living a comfortable life. No way he went to Mannkind without doing a lot of due diligence. He knows how hard it is to launch a new drug yet along relaunch a product that initially did not do well. He had to receive some type of assurances when he was being courted and part of those had to be some type of commitment that the company would have enough resources to give him at least a year and likely more to make Afrezza a success. Unless he was leaving Amgen and had nothing to lose by joining Mannkind (my gut tells me this was not the case) Mannkind had to demonstrate resources to give Mike a viable chance to make Afrezza a success. Great question! I feel the same. Mike knows something. Maybe Al's trust has shown him commitment? I predict Mike will become the new CEO and new deals with Dexcom and Epi will keep ship sailing...
|
|
|
Post by gamblerjag on Sept 16, 2016 14:25:58 GMT -5
Hey Sax.. So you think Mike C will be the next CEO.. ? would you agree this is something Matt P. wants and only wanted to be interim?
|
|
|
Post by prvs on Sept 16, 2016 15:32:05 GMT -5
Sorry, but I disagree. Mike C. is best right where he is. Who will run the commercial side of MNKD if Mike C isn't there anymore? in my opinion, FWIW, Matt should go back to being the CFO and raising money and they should get a super star like DeSisto to be the CEO. Then I think Wall Street might be able to give MNKD some upgrades and get the stock price above $1.00
|
|
|
Post by saxcmann on Sept 16, 2016 15:56:45 GMT -5
Hey Sax.. So you think Mike C will be the next CEO.. ? would you agree this is something Matt P. wants and only wanted to be interim? My comments about Mike and Dexcom are not just guesses. Maybe a little more than that. 😉
|
|
|
Post by surplusvalue on Sept 16, 2016 16:08:34 GMT -5
From my point of view the only cold hard facts are that this has turned out to be an investment littered with downsides. As for the company its still an exercise in process. And despite the improved transparency we are on the no need to know end of the spectrum and there is a lot we are not privy to at all. Hence all the speculation and projections here. I dont much care what any particular member of MNKD thinks or is motivated by whether Matt or Mike or ... since what matters is how they act collectively. No one individual is going to save MNKD. I cannot possibly fathom that the strategy is to simply use what finances they have up to January to make a go of it and then the company will fold its hands simply saying oh well.There is more than a billion dollar investment here, including MNKD's labour and effort and realistically "as a cold hard fact" MNKD is not going to just go insolvent like that or rather leave solvency to chance. Do you really think MNKD will just fold even if the script numbers are not great in the next few months?? Do you think this is all the time that they have given themselves??? I think that this will be a longer process than many of us think or are prepared for. I think we are imposing our deadlines on the company whereas their strategy is much longer than the immediate horizon. Sure we all would like the punishment and suffering to stop soon but I dont think MNKD has organized their strategy as a suicide mission.
|
|
|
Post by cretin11 on Sept 16, 2016 16:22:34 GMT -5
Hey Sax.. So you think Mike C will be the next CEO.. ? would you agree this is something Matt P. wants and only wanted to be interim? My comments about Mike and Dexcom are not just guesses. Maybe a little more than that. 😉 That's intriguing, but what is "a little more than" just a guess?
|
|
|
Post by kball on Sept 16, 2016 16:48:16 GMT -5
A hunch probably
|
|
|
Post by surplusvalue on Sept 16, 2016 16:53:30 GMT -5
Or disorientation,from all the punishment he's taken from owning this stock, mistaken for insight.
|
|
|
Post by dreamboatcruise on Sept 16, 2016 17:30:28 GMT -5
I understand your thinking, brad, but this is a win/lose situation. I don't see a scenario where investors should aim to just win back their investment. It's not that I wouldn't mind winning back my investment (I'd be delighted, in fact) it's that from here we either soon see the commercial traction we need to eventually do very well or we lose it all. If we're chugging ahead, there's no reason to get off the train early. If we've crashed and burned, your invested money is gone. You're assuming that MNKD will not have the ability to raise funds in the market. I guess I see a full spectrum, including significant dilution that may mean even with a successful Afrezza we don't get the share price back to the previous highs. Personally I'd be thrilled to pare my losses rather than needing a win to be happy.
|
|
|
Post by akemp3000 on Sept 16, 2016 17:55:26 GMT -5
Sorry, but I disagree. Mike C. is best right where he is. Who will run the commercial side of MNKD if Mike C isn't there anymore? in my opinion, FWIW, Matt should go back to being the CFO and raising money and they should get a super star like DeSisto to be the CEO. Then I think Wall Street might be able to give MNKD some upgrades and get the stock price above $1.00 I'm with you. MNKD has good people. Mike C is definitely in his element and in the best position for his talents where he is. IMO, Matt has done an excellent job moving through the minefields this year including getting Mike C and a new sales force focused and on board. I'm fine with him continuing in the CEO role but would prefer he return to CFO for a few years while MNKD brings in a respected, veteran CEO that would light up the industry about the potential that exists. Matt can then return to CEO when Duane DeSisto or whomever retires in a few years.
|
|