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Post by agedhippie on Jan 24, 2017 20:59:43 GMT -5
As of yesterday Mannkind had 41 market makers (go here and put in MNKD as the issue, EYES had 23)). You are confusing the MPID for the market maker with the ticker for the stock. I think you may be correct about my confusing MPIDs for ticker symbols at that site. But, respectfully, are you confusing market maker with market participant? The site you sent me to apparently gives a list of the latter (all sorts of market participants). I recognize that the ones with an M beside their name are supposedly indicated as market makers, but are they? Maybe they are market makers for some stocks on NASDAQ, but not for MNKD? Because NASDAQ claims (see link below) that it "achieves market depth averaging 14 market makers per stock". If 14 is the average number of market makers (not participants), it would be beyond belief for MNKD to have 41! www.nasdaq.com/about/market_participants.pdfMarket participants includes: "market makers, order entry firms, and alternative trading systems (ATSs) that include electronic communication networks (ECNs) and unlisted trading privileges (UTP) exchanges". I suppose this is a moot consideration given chuck's post below mine, but I am curious now about how many market makers (not participants) MNKD really has. Agedhippie, I conclude by saying that you may well be correct. I'm just confused given what NASDAQ says about the average number of market makers per stock. You are correct though that MPID stands for Market Participant and you need to see who is flagged with an M for the market makers. The one person flagged with an NR is an unregistered market maker and usually just does order entry for non-market makers rather than fully participate. If they do not participate then market makers are dropped from the list after (from memory) 5 days so the majority of that list is probably active although the volumes will vary wildly. This is also why people like Goldmans , JPM, etc. hold MNKD stock because they carry it on their books as part of the market making. The micro-caps are why the average number of MM is small. Matt can talk to this more than I can but part of the roll of a CFO is keeping MM engaged.
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Post by wildthing on Jan 24, 2017 21:00:28 GMT -5
I think MNKD management should simply take the "bear by the claws" and go ahead and do a reverse split now, rather than dither around until it becomes a necessity and then risk finding themselves missing some deadline, getting delisted, and then having to deal with whatever red tape and time is required to get listed again.
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Post by agedhippie on Jan 24, 2017 21:07:55 GMT -5
There are no signs of consideration of a RS coming from MKND management. Matt believes enough will be accomplished in the coming months to eliminate the delisting issue. In the nicest possible way, he would say that wouldn't he? The alternative is to say that enough will not be accomplished to eliminate the delisting issue. Or to put it another way - now is an excellent time to go short. Really there was only one answer he could give and he gave it.
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Post by dreamboatcruise on Jan 24, 2017 21:08:32 GMT -5
There WERE no signs back at the last conference call, but from his statement in the last conference call it appears he thought the dramatic balance sheet improvement revealed then would make significant difference, which it didn't. Some of the things you list aren't going to dramatically change the share price in the time period needed. Announcing "expectations" for increased sales will mean zip. Announcing, or even starting TV commercials, will mean little. "progress" in international will only matter if it is a partner with upfront money. Simply filing regulatory papers will not increase price as that would have no bearing on convincing investors that Afrezza would do any better in another country than here. I think Matt anticipated that much of the heavy lifting of getting us above $1 would be what he announced then regarding SNY settlement and balance sheet improvement. I think investors assuming there is something bigger that will materialize in short order is likely overly optimistic. fudster <end sarcasm> TRUE LONG ? <end sarcasm again> No Belittling here or there <end sarcasm again> A long term long... that also admits to having fear, uncertainty and doubt about my retirement account. <end crying> <start drinking>
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Post by silentknight on Jan 24, 2017 21:40:24 GMT -5
There are no signs of consideration of a RS coming from MKND management. Matt believes enough will be accomplished in the coming months to eliminate the delisting issue. Bottom line is he knows things that are going on behind the scenes that we don't. These things might relate to sales increase expectations, TV commercials, international progress, new TS partnerships and more. I too wish they would tell us more but will not be concerned until I hear of some substantive reason to be concerned. So far, there hasn't been any. There WERE no signs back at the last conference call, but from his statement in the last conference call it appears he thought the dramatic balance sheet improvement revealed then would make significant difference, which it didn't. Some of the things you list aren't going to dramatically change the share price in the time period needed. Announcing "expectations" for increased sales will mean zip. Announcing, or even starting TV commercials, will mean little. "progress" in international will only matter if it is a partner with upfront money. Simply filing regulatory papers will not increase price as that would have no bearing on convincing investors that Afrezza would do any better in another country than here. I think Matt anticipated that much of the heavy lifting of getting us above $1 would be what he announced then regarding SNY settlement and balance sheet improvement. I think investors assuming there is something bigger that will materialize in short order is likely overly optimistic. This nails it. From the looks of things, there won't be much of a catalyst to get us to $1 before March. The only thing likely to do that is sales. MNKD has next to none of that currently and likely won't for several more weeks. Without an extension, which we've already established they aren't eligible for unless Nasdaq throws them a bone (unlikely), they will be forced to reverse split or be delisted. Both will have negative effects undoubtedly. But I find Matt's misguided confidence that the balance sheet would solve the problem, coupled with the lack of action to request permission from shareholders for the split fairly concerning. They still have a few weeks but time is running out. I know Matt's working hard but I'm tired of management being wrong and ready for them to be right for a change. At least right enough to get the share price moving. Long standing shareholders deserve it.
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Post by mnholdem on Jan 24, 2017 23:15:22 GMT -5
Matt Pfeffer is a great guy, but I really don't think he understands that he has allowed his dual role of CFO-CEO to usurp his duties to be a full time CEO, which entails becoming the face of the company. This CEO needs to be participating in industry discussion panels talking about current issues related to insulin treatment and epinephrine. He needs to be getting his picture taken with kids, talking about the upcoming Afrezza pediatric trials and making statements (for the press to report) about how Afrezza has the potential to revolutionize the treatment of children with diabetes and how eager and excited the company is to be starting its pediatric trial of Afrezza. However, by isolating himself behind his desk, CEO Pfeffer is isolating MannKind from the medical community, from Wall Street, from patients and from potential partners/collaborators. I honestly wonder if he has a clue as to what constitutes the type of value that motivates Wall Street to invest in a company stock. If he did, this CEO would be traveling all over the country promoting Technosphere insulin, the technology itself and promoting a low-cost inhaled epinephrine. He should be promoting a low-cost Afrezza as well, but management shot that horse and all the publicity that could have accompanied an announcement of a price cut when Afrezza was returned by Sanofi. In my opinion the BoD, rather than hire an experienced and assertive CEO who will get out there, be the face of MannKind and and show what this company has to offer to the world, instead promoted their CFO. Matt Pfeffer, as CEO of MannKind Corporation, needs to be right in the middle of the diabetes community engaging the KOLs, getting involved in the discussions and providing Wall Street with a clear understanding of real value of MannKind's drug, drug platform and drug pipeline. Relying on the occasional investor conference, earning calls and a booth at the ADA to promote the value of MannKind Corporation is simply insufficient, IMO.
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Post by Deleted on Jan 24, 2017 23:20:39 GMT -5
Matt Pfeffer is a great guy, but I really don't think he understands that he has allowed his dual role of CFO-CEO to usurp his duties to be a full time CEO, which entails becoming the face of the company. This CEO needs to be participating in industry discussion panels talking about current issues related to insulin treatment and epinephrine. He needs to be getting his picture taken with kids, talking about the upcoming Afrezza pediatric trials and making statements (for the press to report) about how Afrezza has the potential to revolutionize the treatment of children with diabetes and how eager and excited the company is to be starting its pediatric trial of Afrezza. However, by isolating himself behind his desk, CEO Pfeffer is isolating MannKind from the medical community, from Wall Street, from patients and from potential partners/collaborators. I honestly wonder if he has a clue as to what constitutes the type of value that motivates Wall Street to invest in a company stock. If he did, this CEO would be traveling all over the country promoting Technosphere insulin, the technology itself and promoting a low-cost inhaled epinephrine. He should be promoting a low-cost Afrezza as well, but management shot that horse and all the publicity that could have accompanied an announcement of a price cut when Afrezza was returned by Sanofi. In my opinion the BoD, rather than hire an experienced and assertive CEO who will get out there, be the face of MannKind and and show what this company has to offer to the world, instead promoted their CFO. Matt Pfeffer, as CEO of MannKind Corporation, needs to be right in the middle of the diabetes community engaging the KOLs, getting involved in the discussions and providing Wall Street with a clear understanding of real value of MannKind's drug, drug platform and drug pipeline. Good analysis. Need to be always in the limelight..one way or the other to get the word out. Even WS guys know some one that has diabetes..
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Post by brabbit on Jan 24, 2017 23:55:51 GMT -5
Matt Pfeffer is a great guy, but I really don't think he understands that he has allowed his dual role of CFO-CEO to usurp his duties to be a full time CEO, which entails becoming the face of the company. This CEO needs to be participating in industry discussion panels talking about current issues related to insulin treatment and epinephrine. He needs to be getting his picture taken with kids, talking about the upcoming Afrezza pediatric trials and making statements (for the press to report) about how Afrezza has the potential to revolutionize the treatment of children with diabetes and how eager and excited the company is to be starting its pediatric trial of Afrezza. However, by isolating himself behind his desk, CEO Pfeffer is isolating MannKind from the medical community, from Wall Street, from patients and from potential partners/collaborators. I honestly wonder if he has a clue as to what constitutes the type of value that motivates Wall Street to invest in a company stock. If he did, this CEO would be traveling all over the country promoting Technosphere insulin, the technology itself and promoting a low-cost inhaled epinephrine. He should be promoting a low-cost Afrezza as well, but management shot that horse and all the publicity that could have accompanied an announcement of a price cut when Afrezza was returned by Sanofi. In my opinion the BoD, rather than hire an experienced and assertive CEO who will get out there, be the face of MannKind and and show what this company has to offer to the world, instead promoted their CFO. Matt Pfeffer, as CEO of MannKind Corporation, needs to be right in the middle of the diabetes community engaging the KOLs, getting involved in the discussions and providing Wall Street with a clear understanding of real value of MannKind's drug, drug platform and drug pipeline. Relying on the occasional investor conference, earning calls and a booth at the ADA to promote the value of MannKind Corporation is simply insufficient, IMO. I'll tell you something about Matt Pfeffer but first a question? Look, if you had, one shot, or one opportunity to seize everything you ever wanted. In one moment would you capture it, or just let it slip? And his presentation at JPM, well this is how i would describe what i saw from our CEO..... His palms are sweaty, knees weak, arms are heavy There's powder on his sweater already, mom's afrezza He's nervous, but on the surface he looks calm and ready to drop bombs, But he keeps on forgetting what he wrote down, The investor crowd goes so loud He opens his mouth, but the words won't come out He's choking how, everybody's joking now The clock's run out, time's up, over, blaow! Snap back to reality. Oh, there goes gravity Oh, there goes Pfeffer, he choked He's so mad, but he won't give up that Easy, no He won't have it, he knows his whole back's to these ropes It don't matter, he's dope He knows that but he's broke He's so sad that he knows When he goes back to danbury, that's when it's Back to the lab again, yo This whole rhapsody He better go capture this moment and hope it don't pass him just my 50 cents....
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Post by slugworth008 on Jan 24, 2017 23:57:58 GMT -5
fudster <end sarcasm> TRUE LONG ? <end sarcasm again> No Belittling here or there <end sarcasm again> A long term long... that also admits to having fear, uncertainty and doubt about my retirement account. <end crying> <start drinking> I'll drink to that.
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Post by patten1962 on Jan 25, 2017 8:06:34 GMT -5
I think it's safe to say that MannKind does not want the Delisting of this stock as much as we don't want it. I am still in shock that the sanofi exit deal did not move us over a dollar. A great many investors on this page and others like to beat up Matt for the way he does his job. The glass is half empty. I would like to say the glass is half-full. I believe Matt has done a good job keeping this company afloat with everything that happened with sanofi. The original deal with sanofi was a very bad move and we all know this now. It's time to move forward and I truly believe we will be getting some news soon that will help our share price.
Good luck all Longs!
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Post by kbrion77 on Jan 25, 2017 8:33:52 GMT -5
I think it's safe to say that MannKind does not want the Delisting of this stock as much as we don't want it. I am still in shock that the sanofi exit deal did not move us over a dollar. A great many investors on this page and others like to beat up Matt for the way he does his job. The glass is half empty. I would like to say the glass is half-full. I believe Matt has done a good job keeping this company afloat with everything that happened with sanofi. The original deal with sanofi was a very bad move and we all know this now. It's time to move forward and I truly believe we will be getting some news soon that will help our share price. Good luck all Longs! There is a huge difference in keeping the company afloat (which honestly many CFO's can do) and actually building out a successful vision and business model which MNKD has so far failed at. They need to do this at an unparalleled rate which unfortunately the chance of them failing is probably greater than succeeding that is just the reality. Shareholders just can't wait anymore for the magical rabbit that has been talked about for years. Our investment decisions are on us no doubt about that but that doesn't mean we can't be critical of the company's decisions and management.
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Post by Deleted on Jan 25, 2017 8:56:51 GMT -5
Matt Pfeffer is a great guy, but I really don't think he understands that he has allowed his dual role of CFO-CEO to usurp his duties to be a full time CEO, which entails becoming the face of the company. This CEO needs to be participating in industry discussion panels talking about current issues related to insulin treatment and epinephrine. He needs to be getting his picture taken with kids, talking about the upcoming Afrezza pediatric trials and making statements (for the press to report) about how Afrezza has the potential to revolutionize the treatment of children with diabetes and how eager and excited the company is to be starting its pediatric trial of Afrezza. However, by isolating himself behind his desk, CEO Pfeffer is isolating MannKind from the medical community, from Wall Street, from patients and from potential partners/collaborators. I honestly wonder if he has a clue as to what constitutes the type of value that motivates Wall Street to invest in a company stock. If he did, this CEO would be traveling all over the country promoting Technosphere insulin, the technology itself and promoting a low-cost inhaled epinephrine. He should be promoting a low-cost Afrezza as well, but management shot that horse and all the publicity that could have accompanied an announcement of a price cut when Afrezza was returned by Sanofi. In my opinion the BoD, rather than hire an experienced and assertive CEO who will get out there, be the face of MannKind and and show what this company has to offer to the world, instead promoted their CFO. Matt Pfeffer, as CEO of MannKind Corporation, needs to be right in the middle of the diabetes community engaging the KOLs, getting involved in the discussions and providing Wall Street with a clear understanding of real value of MannKind's drug, drug platform and drug pipeline. Relying on the occasional investor conference, earning calls and a booth at the ADA to promote the value of MannKind Corporation is simply insufficient, IMO. 8-) Matt seems like a good person and I get the sense he has integrity but as a CEO, to your point, he isn't getting it done. His platform skills are weak at best and his clinical knowledge in general and especially in the diabetes space are limited. Mike C should have been with him at JPM as Matt's performance was weak at best. If somehow this ship can get a bit stabilized with a better cash runway, Matt should return to a full time CFO and the company should try to bring back Duane DeSisto who is an accomplished CEO (he built Insulet) who happens to also have experience as a CFO. Duane's non-compete with Insulet has long expired but a guy like that would not join Mannkind if he felt the cash runway was too short. Getting SP > $1 is pretty straightforward at this point: Partnership with big upfront money (I would say $75mm minimum) or NRx showing a radical uptick in the next 3-4 weeks and radical meaning W/W increases of 50%. Other than that, its reverse split or perhaps MNKD can convince NASDAQ to extend the delisting date by 3-6 months (does NASDAQ even do 3 mo extensions). If we got another 3-6 months, we would still need strong NRx growth but my dartboard guess would be around 10% W/W growth. I think by the end of this year at latest, we will know the tale of the tape.
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Post by Deleted on Jan 25, 2017 9:07:10 GMT -5
In my opinion the BoD, rather than hire an experienced and assertive CEO who will get out there, be the face of MannKind and and show what this company has to offer to the world, instead promoted their CFO. Matt Pfeffer, as CEO of MannKind Corporation, needs to be right in the middle of the diabetes community engaging the KOLs, getting involved in the discussions and providing Wall Street with a clear understanding of real value of MannKind's drug, drug platform and drug pipeline. Relying on the occasional investor conference, earning calls and a booth at the ADA to promote the value of MannKind Corporation is simply insufficient, IMO. It may have been Al's desire for Matt to be the CEO. Obviously, he is proceeding cautiously, almost intentionally; perhaps he knows something that can not be revealed yet.
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Post by falconquest on Jan 25, 2017 9:25:53 GMT -5
In my opinion the BoD, rather than hire an experienced and assertive CEO who will get out there, be the face of MannKind and and show what this company has to offer to the world, instead promoted their CFO. Matt Pfeffer, as CEO of MannKind Corporation, needs to be right in the middle of the diabetes community engaging the KOLs, getting involved in the discussions and providing Wall Street with a clear understanding of real value of MannKind's drug, drug platform and drug pipeline. Relying on the occasional investor conference, earning calls and a booth at the ADA to promote the value of MannKind Corporation is simply insufficient, IMO. It may have been Al's desire for Matt to be the CEO. Obviously, he is proceeding cautiously, almost intentionally; perhaps he knows something that can not be revealed yet. Objection your honor, this is pure conjecture. Mannkind share holders have been waiting for something that "could" happen at any time for too long. This is all we get. We certainly don't get sales of our product.
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Post by Deleted on Jan 25, 2017 10:25:05 GMT -5
It may have been Al's desire for Matt to be the CEO. Obviously, he is proceeding cautiously, almost intentionally; perhaps he knows something that can not be revealed yet. why was Duane DeSisto announced as a ceo and not Matt? Did Al had no choice and put Matt in the chair?
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