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Post by sportsrancho on Apr 26, 2017 5:21:10 GMT -5
Did MNKD submit a commercial to the FDA for review? The FDA does not require companies to submit commercials to them for approval (as stated on the FDA website). Where did you hear or read that MNKD submitted a commercial? Thanks.
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Post by rockstarrick on Apr 26, 2017 8:04:15 GMT -5
Did MNKD submit a commercial to the FDA for review? The FDA does not require companies to submit commercials to them for approval (as stated on the FDA website). Where did you hear or read that MNKD submitted a commercial? Thanks. The Office of Prescription Drug Promotions, (OPDP) is the branch of the FDA that oversees New Drug Advertisements, you can get alerts from them, I do
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Post by dreamboatcruise on Apr 26, 2017 11:38:57 GMT -5
No one is saying that on this board are they? Bradmel was saying in the original post that it looked like Matt was purposely steering the company into BK to shake off retail investors. What do you mean no one on this board? Didn't you read the post? Technically he posed it as a question, though that would seem to mean he believes it is possible... though perhaps not likely. Since your post was in response to that, I thought you were answering his question by saying "a lot of people" other than him are saying it.
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Post by matt on Apr 26, 2017 13:35:12 GMT -5
I posed the question to the Board, If there were benefits for a company in Mannkind's position to steer the ship towards a Bankruptcy as a way to save their jobs and possibly to restructure the company and also of course to keep control of the drug and continue to try to bring the drug to market with a new partner AFTER all us shareholders are wiped out. That is possible but it is a very risky course of action. Nobody in their right mind wants to be in bankruptcy court unless there is a prepackaged deal arranged with all creditor groups, and those are pretty rare. Once a company gets into bankruptcy court, the rules of the game change significantly and nothing is guaranteed except an eight figure legal bill. If an executive team wanted to align themselves with a group with significant financial backing to take over the operation (essentially make it a private company and still be running it) then they would need to resign now and watch the ship sink from the sidelines as collusion on that scale would be a clear breach of their fiduciary obligation. Even then, unless somebody is prepared to pay off all the debt and all the creditors along the way, there is no guarantee that any particular party can control the case. The rules in bankruptcy are very rigid and the only thing the court listens to is those who show up carrying a certified check with lots of zeros on the end. There have been cases where a company has wiped out shareholders, a third party has come in and bought the operation, and then hired most of the management team, but if you were Matt and Mike, would you want to bet your futures on that just happening? The most likely outcome of a bankruptcy in this industry is cessation of operations, significant losses for debt holders, pennies on the dollar or nothing for unsecured creditors, and upset shareholders. As noted, the lawyers will be happy as they will be able to run the meter and will certainly make a large contribution to this year's billable hours requirement. It isn't a pretty process and once it starts there is nothing anybody can do to stop it unless you happen to have eight or nine figures sitting in the bank collecting dust.
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