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Post by kbrion77 on Mar 6, 2017 15:44:04 GMT -5
He did? I thought he wanted the 1-10. Tell me more:-) "First off, even if the stock has not managed to get back over $1 and stay there long enough in time to meet the criteria to avoid delisting, the company can file for another six-month extension (and such petitions are almost always granted), or, alternatively, the company could guarantee the stock price would be over $1 by simply convincing shareholders to approve a reverse split of the stock." www.notwallstreet.com/mannkind-mnkd-12717/If we make it down to $1 (.20 pre split) the company is getting taken over by Amphastar book it. And if we make it down to $1 the only path I want is a hostile takeover.
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Post by jonny80s on Mar 6, 2017 16:01:39 GMT -5
Woah wait a minute. But I've been reading here the last 2 years that MNKD/SNY and MNKD were intentionally holding back Afrezza until the "pieces were in place". Sorry I just need a laugh today my portfolio is in shambles. Shhhh! Don't talk about the secret plan... management is definitely wanting to keep that under wraps. I see it as the only way to explain the incompetence. Nothing else makes sense. "Approval for a 10:1 r/s. No, no, no; we'll just do a 5:1, then after the typical r/s sell-off hopefully we'll still be over $1 in 10 days. That should give us the time we need." Who is running the show? Who are the idiots that made that decision? The BoD and major share holders, that is who. So they are either incompetent or are doing it for a very specific reason. I chose to go with the later, however, there is 26 years of evidence to support incompetence.
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Post by sluggobear on Mar 6, 2017 16:14:24 GMT -5
THE COMPANY NEEDS TO BE SOLD! THAT IS THE ONLY CHANCE OF SURVIVIAL. Sadly I know it but does the BOD know it. It's far to late for that. At this point you would have to be crazy to buy the company since the drug is not selling (Sanofi failed to sell it, Mannkind is busy failing to sell it, what makes the next company think it can succeed where those two failed? Add to that the hidden cost of paying off the debts to the Foundation and Deerfield and it's hard to see a buyer. Aged, I've appreciated your perspective from both the diabetic POV and as a sober investor. I don't post often here; I am not a sophisticated trader. I sold myself on the potential of Afrezza but didn't know the history of decision making at Mannkind. I don't blame anyone for my investment/gamble but this is painful watching the slow motion train crash over the last 2 to 3 years. I've said this before several times on this board. I can't see any way Mannkind survives with the traditional approach. We're not seeing any traction in sales. I know there is something very naive or desperate about doing this, but I have suggested that they announce selling Afrezza for $25 per monthly Rx. A 6 month trial for all diabetics who use insulin. No insurance needed, just a script. The measly revs for 300 TRx (not even) are practically meaningless. The sales force is equity driven mostly and the few scripts they are selling doesn't add up to much. I'm looking at a desperate situation and trying to be creative. Is this undoable, not feasible for obvious reasons? With over 1M type 1s and Afrezza being a niche product, I would think at least 30-40K diabetics might hear about it and would want to try it, if they heard it was cheaper than their prandial and they didn't need to deal with insurance.
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Post by dreamboatcruise on Mar 6, 2017 16:27:37 GMT -5
It's far to late for that. At this point you would have to be crazy to buy the company since the drug is not selling (Sanofi failed to sell it, Mannkind is busy failing to sell it, what makes the next company think it can succeed where those two failed? Add to that the hidden cost of paying off the debts to the Foundation and Deerfield and it's hard to see a buyer. Aged, I've appreciated your perspective from both the diabetic POV and as a sober investor. I don't post often here; I am not a sophisticated trader. I sold myself on the potential of Afrezza but didn't know the history of decision making at Mannkind. I don't blame anyone for my investment/gamble but this is painful watching the slow motion train crash over the last 2 to 3 years. I've said this before several times on this board. I can't see any way Mannkind survives with the traditional approach. We're not seeing any traction in sales. I know there is something very naive or desperate about doing this, but I have suggested that they announce selling Afrezza for $25 per monthly Rx. A 6 month trial for all diabetics who use insulin. No insurance needed, just a script. The measly revs for 300 TRx (not even) are practically meaningless. The sales force is equity driven mostly and the few scripts they are selling doesn't add up to much. I'm looking at a desperate situation and trying to be creative. Is this undoable, not feasible for obvious reasons? With over 1M type 1s and Afrezza being a niche product, I would think at least 30-40K diabetics might hear about it and would want to try it, if they heard it was cheaper than their prandial and they didn't need to deal with insurance. Insurance coverage isn't great but it isn't terrible either. Management has stated that most requesting authorization are getting it. With that and with the discount card, must patients aren't paying more than $25 per month. It would seem there is little evidence that slashing prices (which mostly aren't paid by patients) that drastically would change the situation, other than putting us that much further away from break even... needing 10x or 20x the number of scripts. Cheaper isn't going to convince doctors skeptical of risk vs benefit of Afrezza. Cheaper isn't going to change education/titration issues.
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Post by sophie on Mar 6, 2017 16:36:43 GMT -5
THE COMPANY NEEDS TO BE SOLD! THAT IS THE ONLY CHANCE OF SURVIVIAL. Sadly I know it but does the BOD know it. It's far to late for that. At this point you would have to be crazy to buy the company since the drug is not selling (Sanofi failed to sell it, Mannkind is busy failing to sell it, what makes the next company think it can succeed where those two failed? Add to that the hidden cost of paying off the debts to the Foundation and Deerfield and it's hard to see a buyer. I think there is still some value. Insulin has fairly plateaued at this point, and Afrezza is about as close as you can get to endogenous insulin. I can see a big pharma buying it up at the prices its at and then letting it sit on a shelf somewhere while they test it out. I kind of think we're only a study or two away from market acceptance. But they need to be the right studies. One study needs to show that Afrezza is superior to every other insulin on the market. The next needs to prove long-term safety. For less than a billion dollars, to be able to pull that off is still quite a bargain. Hindsight is 20/20, but that's part of what separates good management from bad management. I don't think anyone at Mannkind ever fully understood the pharmaceutical landscape, including Al. These studies should have been one of the first boxes to get checked before marketing the drug. Their lack of foresight is what is leading to their demise.
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Post by charlespk on Mar 6, 2017 16:41:21 GMT -5
Its not a failure. It did what it was supposed to do and prevent them from being delisted. If it was a 1:10 the stock would be down 24% vs 12% Well . I agree that after a R/S any stock I have ever owned goes down initially, especially on biotech . I still believe on the drug , however if the R/s was authorized to 1:10 , Why did the choose to not do that . AT $ 5 after R/S we would have had a better chance of avoiding the PPS to go below $ 1.00 again . I firmly believe management should inform us shareholders regarding the decision to go with 1:5 We have all been the best cheerleaders for this Company for years and many of us are losing thousands by sticking with them . Please , what ever happened to transparency ?
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Post by brotherm1 on Mar 6, 2017 16:57:48 GMT -5
THE COMPANY NEEDS TO BE SOLD! THAT IS THE ONLY CHANCE OF SURVIVIAL. Sadly I know it but does the BOD know it. It's far to late for that. At this point you would have to be crazy to buy the company since the drug is not selling (Sanofi failed to sell it, Mannkind is busy failing to sell it, what makes the next company think it can succeed where those two failed? Add to that the hidden cost of paying off the debts to the Foundation and Deerfield and it's hard to see a buyer. Agedhippie - you had me fooled until now. Although I had some doubts, heretofore I thought you might be sincere. You're well smart enough to know that a large company can buy MNKD and eliminate the sales staff, management, overhead costs..... by merging Afrezza into their current structure. They could also market it way better. 90% of pwd's are still unaware Afrezza is even available.
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Post by peppy on Mar 6, 2017 17:01:04 GMT -5
aged belongs to the largest endo group in NY city. He told us, the big news from his endo, is that group has one person they are going to prescribe Afrezza to. That is the facts. I'll stop. I am sure you know what I am thinking.
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Post by cjm18 on Mar 6, 2017 17:02:12 GMT -5
It's far to late for that. At this point you would have to be crazy to buy the company since the drug is not selling (Sanofi failed to sell it, Mannkind is busy failing to sell it, what makes the next company think it can succeed where those two failed? Add to that the hidden cost of paying off the debts to the Foundation and Deerfield and it's hard to see a buyer. I think there is still some value. Insulin has fairly plateaued at this point, and Afrezza is about as close as you can get to endogenous insulin. I can see a big pharma buying it up at the prices its at and then letting it sit on a shelf somewhere while they test it out. I kind of think we're only a study or two away from market acceptance. But they need to be the right studies. One study needs to show that Afrezza is superior to every other insulin on the market. The next needs to prove long-term safety. For less than a billion dollars, to be able to pull that off is still quite a bargain. Hindsight is 20/20, but that's part of what separates good management from bad management. I don't think anyone at Mannkind ever fully understood the pharmaceutical landscape, including Al. These studies should have been one of the first boxes to get checked before marketing the drug. Their lack of foresight is what is leading to their demise. Is the announced time in range study not a viable superiority study? A1c is still the holy grail though time in range should be.
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Post by uvula on Mar 6, 2017 17:02:37 GMT -5
We shouldn't be attacking each other. That just makes visiting proboards even worse.
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Post by Deleted on Mar 6, 2017 17:30:03 GMT -5
aged belongs to the largest endo group in NY city. He told us, the big news from his endo, is that group has one person they are going to prescribe Afrezza to. That is the facts. I'll stop. I am sure you know what I am thinking. FWIW I was told by a young ENDO DR from Mt Sinai in Manhattan they would not prescribe because of unknown lung issue.
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Post by oldfishtowner on Mar 6, 2017 17:37:27 GMT -5
It has to hold above $1 for 10 trading days. So at this rate, it will be under $1 before the 10 days are up, in which case it would not have done its job... Pathetic!!! It depends on what you are looking at. Yes, MNKD was down 0.27 yesterday and 0.24 today and at that rate of decline the stock will be below $1 by early next week. However, the low of the day on Friday was 0.56 below last Thursday's low, while today's low was only 0.10 below Friday's. If that trend continues, the stock may find its support in a couple of days. My point is that it is too early to say the bottom is falling out from under the stock.
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Post by mbseeking on Mar 6, 2017 17:45:21 GMT -5
aged belongs to the largest endo group in NY city. He told us, the big news from his endo, is that group has one person they are going to prescribe Afrezza to. That is the facts. I'll stop. I am sure you know what I am thinking. FWIW I was told by a young ENDO DR from Mt Sinai in Manhattan they would not prescribe because of unknown lung issue. Personally I'm convinced the other big pharma's have FUD'd the endo's on Afrezza. I also have had a strong suspicion they've been bankrolling the shorts (ha , to the extent that was needed) and after today's attack even stronger. If they get it back below $1 within the next 10 days without any further news from MNKD then I believe we have a clear prima facie case of stock price manipulation to which the NASDAQ and SEC should act if they had any duty of care.
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Post by cjm18 on Mar 6, 2017 17:56:22 GMT -5
aged belongs to the largest endo group in NY city. He told us, the big news from his endo, is that group has one person they are going to prescribe Afrezza to. That is the facts. I'll stop. I am sure you know what I am thinking. FWIW I was told by a young ENDO DR from Mt Sinai in Manhattan they would not prescribe because of unknown lung issue. Does that make him a celebrity? Mike needs to personally meet him or her:) like dash.
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Post by agedhippie on Mar 6, 2017 19:41:27 GMT -5
It's far to late for that. At this point you would have to be crazy to buy the company since the drug is not selling (Sanofi failed to sell it, Mannkind is busy failing to sell it, what makes the next company think it can succeed where those two failed? Add to that the hidden cost of paying off the debts to the Foundation and Deerfield and it's hard to see a buyer. Agedhippie - you had me fooled until now. Although I had some doubts, heretofore I thought you might be sincere. You're well smart enough to know that a large company can buy MNKD and eliminate the sales staff, management, overhead costs..... by merging Afrezza into their current structure. They could also market it way better. 90% of pwd's are still unaware Afrezza is even available. A company could do that, in fact it would be expected. The problem is unless they can see how they can sell Afrezza then any purchase would be speculative and nobody pays much for that. Coupled with the debt overhang I think that the company cannot be sold right now for any meaningful price. Given this position management are doing the only thing they can which is trying to boost sales. Once sales take off the company becomes saleable, however at that point why would you want to sell?
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