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Post by deaner3 on Jun 10, 2017 23:26:25 GMT -5
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Post by deaner3 on Jun 10, 2017 23:43:49 GMT -5
Exciting highlights for me
(1) mike c talking to newspaper about UAE, India and China
(2) talking about other products he feels good about bringing to market. Doesn't sound like someone worried about getting through 2017. I like the confidence. Gives me confidence
Surprises... him talking about acquiring assets giving sales staff additonal things to sell. Wondering how that would work. Could that be a partnership with another big pharma allowing them to sell afrezza and our staff to sell their products or how could that work ?
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Post by deaner3 on Jun 10, 2017 23:46:32 GMT -5
Also the part about why the slow start in USA was interesting
I've owned since 2014. Made many purchases june 2014 I regretted
But I think I'll be in the profit of all shares before I sell eventually but that's just my optimism. Everything else in this thread is from our CEO
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Post by kuka on Jun 11, 2017 0:24:01 GMT -5
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Tinkerbell
Researcher
Watcher of the Skies
Posts: 143
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Post by Tinkerbell on Jun 11, 2017 0:56:02 GMT -5
Well that's not as bad as being called a liar because I didn't have 'the exact' date for the 8K issued in June re: Mike's compensation as new CEO. I was answering your question and didn't realize I had used 'today' instead of June 1st. OK. I could have been corrected but was called a liar instead. I had my story right about Kent Kresa too. investors.mannkindcorp.com/releasedetail.cfm?ReleaseID=955814From 2004 through to 2017, Kent and his croonies on this board let Hakan drive this company into the ground and then instead of seeking a new CEO, he handed the reins to Matt. Yes. That's what Kent did. Mike showed up in 2016 of his own accord and Kent had ZERO to do with it. So now, people want to call Kent a genius for replacing Matt with Mike? He's is NO genius board member - no way, no how. Anyway, glad that Mike is the new CEO and sounding enthusiastic about the future. So now they need to find a younger, go-getter BOARD CHAIRMAN and things should be better set for the future. |
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Tinkerbell
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Watcher of the Skies
Posts: 143
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Post by Tinkerbell on Jun 11, 2017 1:15:42 GMT -5
You are not the only one 'just saying' Amgen is the logical choice for purchasing MannKind. In reality, no one has said a thing via the press-not MannKind nor Amgen. You can speculate but honestly at this point, that's all it is and nothing more. You've forgotten that Mike has a lot of experience and a large book of world-wide contacts respecting commercialization. The contacts he has all over the world is not only because of his prior work at Amgen, but his past companies too. Just because Mike and his in-house team is using those contacts to get going in countries outside of the US does not mean that Amgen has any inkling nor 'first dibs' to buy MannKind anytime soon. It just doesn't and it won't happen. Amgen would need to pass any such company purchase past a Board who would not agree to purchasing this company until it could show no less than (and I mean this), at least 100M in sales. $100M in sales so investors of Amgen would not get screwed like MannKind investors did. No big pharma will touch this company with a 10 foot pole for a buyout. It would be CEO suicide to even breathe a word of any interest to maybe think about buying MannKind with sales of less than $1M per month. Would you as a CEO bring this to your Board Chairman? MannKind's sales today is NOT on any BP's radar. OK? No one will buy MannKind this year and not even next year. A partnership? If we're lucky but I would not put much faith in that either at this time. Sorry. MannKind needs to go it alone and that's what they are embarking on. They will need to raise more funds and I agree with Mike saying that they need to go international right away so that sales ex-US can keep them afloat while our sluggish endos shift direction red-faced down the road a piece. |
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Post by kuka on Jun 11, 2017 2:05:11 GMT -5
You are writing like MNKD is a normal run of the mill small Pharma...its not. The reason for the relentless Shorting, Naked Shorting, and criminal activity is to destroy this company before it takes Billions from all other Prandial insulins makers on the market. BP is scared to death about Afrezza ....its worth millions to try and bankrupt MNKD.
It is not going to happen.
AND other BPs understands the significance of Afrezza ... and the massive Diabetes drug Markets.
Time will tell but Mike is very optimistic and so am I.
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Post by akemp3000 on Jun 11, 2017 3:07:05 GMT -5
Really good candid interview. This answers a lot of questions about what's next except how the company is going to extend the cash runway. Once again, management appears to have little concern about this subject which leads to to my continued belief they know something important they're not telling us. My guess has been that it has to do with shipments to the Middle East. It could also come from a TS deal being negotiated by Locust Walk. A buy-in is always a possibility. This interview almost eliminates the possibility of a buy-out which was a very long shot anyway. I too am very optimistic and believe Mike C fully intends to grow MNKD into a diverse global powerhouse over time. They're going it alone albeit with multiple pipeline partners around the globe.
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Post by kuka on Jun 11, 2017 3:46:47 GMT -5
As much I Wish for am AMGEN Buyout this year ...I am expecting a partnership with AMGEN instead. MNKD absolutely needs a BP with international ties ....to start selling overseas.
AMGEN normally partners with companies before buying them ....BUT if we get a Partnership with AMGEN ...be sure they will buy MNKD once sales pick up and they WILL.
I am still hoping AMGEN realizes the massive potential for earning with Afrezza and decided to pull the trigger earlier rather than later.
Anyone who say AMGEN is not interested in Diabetes is an idiot ...AMGEN is interested in making money ...they will do what is best for AMGEN.
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Post by lakers on Jun 11, 2017 3:48:17 GMT -5
* Mannkind - pursuant to amendment, term of Amphastar agreement was extended from December 1, 2019 to December 31, 2023 * Mannkind - delivery schedule modified so that Amphastar will ship eur 2.7 million of insulin to co in q4 of 2017, eur 8.9 million in 2018, eur 11.6 million in 2019 * Mannkind - delivery schedule was modified to provide that amphastar will ship eur 15.5 million in 2020 and in 2021, and eur 19.4 million in 2022 and in 2023 * Mannkind corp - also granted Amphastar a right of first refusal to participate in development and commercialization of Afrezza in China Source text for Eikon: Further company coverage: (Reporting by Anil D'Silva) www.google.com/amp/mobile.reuters.com/article/amp/idUSFWN1DA16O |
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Post by peppy on Jun 11, 2017 6:17:27 GMT -5
New MannKind CEO: Afrezza, global markets are key to company’s future
MannKind is based in Valencia, Calif., and also employs about 120 people at its high-tech manufacturing facility in Danbury. MannKind, which was founded by Alfred E. Mann, manufactures and markets commercial therapeutic products for patients with diseases such as diabetes.
Its main product is Afrezza, a fast-acting insulin for diabetes treatment. Afrezza utilizes MannKind’s trademarked Technosphere technology, which delivers drugs through inhalation instead of injection. The Technosphere platform is what “differentiates the company in the marketplace,” Castagna said.
Last year, MannKind terminated an agreement with Sanofi, which failed in its attempt to market Afrezza. MannKind now manufacturers, markets and sells Afrezza. Developing a broader reach for Afrezza will be Castagna’s primary challenge.
Castagna, 40, visited the Danbury facility last week and discussed with Hearst Connecticut Media the direction he plans to steer the company, MannKind’s future in Danbury and a variety of other topics relating to the company.
Q: Where do you see MannKind going in the future?
A: In the near term, the next 12 to 18 to 24 months, it’s really about turning around Afrezza and making sure that it’s out there as much as possible to help people around the world. In the long run, we hope to have a pipeline of Technosphere molecules that will transform the company.
We are predominately a U.S. company with our first (FDA) approval; now we are in the process of taking that approval and bringing it to other places in the world. We have a factory here that’s scalable, and in order to get your costs down and become competitive, you have to have scale of volume. The way you get scale of volume is to get into international markets. That’s a critical component as we go forward. (The) U.S. will grow over time, but the volume, short term, can come from outside the U.S.
Q: Have you targeted any specific international markets?
A: Last week we announced a partnership with Brazil. We are also looking at the Middle East — such as United Arab Emirates — as a key part of the world that, for cultural reasons, would really prefer an inhalable insulin over an injectable.
India and China are two fantastic markets. There’s just a pandemic going on out there in the marketplace. India has 80 million people living with diabetes. This, unfortunately, is a 30- to 40-year disease. The developing countries are really setting themselves up for a significant cost burden in taking care of people in the future. Today, they are not seeing a lot of damage, but over the next 10 years they will see a lot of damage from not managing their sugars. When you see 80 million people in a country really heading for disaster, that’s going to have a significant consequence for society.
Q: Why has Afrezza struggled at times to gain traction in the U.S.?
A: Any time you are undergoing a monumental shift in how you treat a disease, it takes time. Doctors have been doing the same thing for 30 or 40 years and then all of the sudden you are saying: “Think of the disease differently, think of insulin differently.” That just doesn’t happen overnight.
It’s about teaching doctors how to shift their behaviors and use the drug, because once they do they don’t go back.
Q: What other products are you developing?
A: We have several interesting pipeline candidates. It’s about prioritization. You look at epinephrine. That was a big debate because of drug pricing. We know we can make epinephrine at a reasonable cost and reasonable ability to use. Personally, I think that can be a nice drug to get to the market in a reasonable time frame. We have the (Technosphere) technology and it’s proven, so our time to develop a new drug is much faster.
To carry a little disposable epinephrine in your pocketbook or something is much easier than carrying a big pen around with you. I’m excited about that product. This could make a big difference for patients. We’re looking at either potential partners to bring that forward, or we’ll fund that ourselves.
We have couple other molecules we’re looking at: chemotherapy, PTH (Parathyroid hormone) and a couple other molecules we’re looking at for different diseases that have real potential to make it to market.
The other way we transform the company is looking for additional assets to acquire. How do we bring in more molecules to the company? It’s expensive to have a sales force so if you can put in another product or two for that sales force that brings more stability and diversity to the company.
Q: A change at the top of an organization often brings other changes. What is the company’s future in Danbury and Connecticut?
A: In general, you don’t move manufacturing plants. Once they are in the ground they usually stay. To move it would take years. So, from my perspective, we plan to have the facility here producing Afrezza for the long term.
The technology is here, the labs are here, the talent is here, so I don’t see a monumental shift in our operations. I have no intention of bringing this facility to California. It’s a beautiful facility here and we have lots of space here, as well. So as we grow it will be interesting to see where we put certain back-end office jobs. For example, if I wanted to have a patient-care call center, we can put 30 to 50 people in that call center easily. Would I put that in California or would I put that in Danbury? Those are the types of questions that come up when you grow. It’s never been a question of moving everyone to California.
California has its own job challenges and high taxes. I think it’s worse than Connecticut, to be honest. It’s close.
The good news is, there seems to be, over the last decade, a little biotech and innovation culture in Connecticut. Innovation is critical. Companies that don’t reinvent themselves don’t stay relevant. If you don’t stay relevant you won’t stay around long for your employees. That’s our job as a management team: To keep the company relevant and transform ourselves to be competitive, but also be a different pharmaceutical company.
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Post by peppy on Jun 11, 2017 6:34:21 GMT -5
We have a factory here that’s scalable, and in order to get your costs down and become competitive, you have to have scale of volume. The way you get scale of volume is to get into international markets. That’s a critical component as we go forward. (The) U.S. will grow over time, but the volume, short term, can come from outside the U.S.
Just throwing it out in the atmosphere: if cost for 90 4 unit = 360 units total = $25 when line is running at full capacity; then how much afrezza would need to be sold at what price to cover costs?
Additionally, as discussed, afrezza is regular insulin. Could it be sold over the counter in other countries, say china and/or india?
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Post by peppy on Jun 11, 2017 6:35:29 GMT -5
It’s about teaching doctors how to shift their behaviors and use the drug, because once they do they don’t go back.
Who would have thought?
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Post by falconquest on Jun 11, 2017 6:47:17 GMT -5
Here's some grist for the ole thought mill this morning. Let me qualify by saying I don't necessarily believe this because I have have no information but.......my thesis is, Once a CEO, always a CEO? I'm not a Mike Castagna fan.....yet. Mike was hired to commercialize Afrezza. He had always been at large corporations and I'm sure was viewed as a rising star in the industry and always held upper management positions but was never a CEO which is a position I'm sure he had his sights on. So, he comes to Mannkind, makes some strategic headway and then convinces the Board that he can do a more effective job at running the company. We still don't know why Matt was replaced mind you. So now we have some big picture (One Drop, Brazil) highly visible announcements that really don't mean a hill of beans for our current cash status, it all looks good though and Mike can point to that as an accomplishment but what nags at me is, he hasn't sold Afrezza here in the U.S. What is his sales team doing? (By the way, if I'm on commission and beating the street everyday and getting nowhere as a salesperson, I'm going to start looking around for something I CAN sell). And we still haven't addressed our cash position. So even if Mannkind fails and goes bankrupt, Mike can walk away and tout all of the important accomplishments he made at Mannkind but by the time he took over the company was too far gone (financially). He then moves on to another CEO position somewhere because.....Once a CEO, always a CEO. Have you ever run into one of those people in your career that talks a good game but really has no idea how to accomplish something? Well, for me the jury is still out on Mike. Do I believe he is committed to success, absolutely I do, I'm just not sure he knows how to get there. I'm just afraid that Mike may be more committed to Mike than to the success of Mannkind and for that reason my guard is up. As I said, just some grist for the thought mill.
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Post by peppy on Jun 11, 2017 6:52:55 GMT -5
Here's some grist for the ole thought mill this morning. Let me qualify by saying I don't necessarily believe this because I have have no information but.......my thesis is, Once a CEO, always a CEO? I'm not a Mike Castagna fan.....yet. Mike was hired to commercialize Afrezza. He had always been at large corporations and I'm sure was viewed as a rising star in the industry and always held upper management positions but was never a CEO which is a position I'm sure he had his sights on. So, he comes to Mannkind, makes some strategic headway and then convinces the Board that he can do a more effective job at running the company. We still don't know why Matt was replaced mind you. So now we have some big picture (One Drop, Brazil) highly visible announcements that really don't mean a hill of beans for our current cash status, it all looks good though and Mike can point to that as an accomplishment but what nags at me is, he hasn't sold Afrezza here in the U.S. What is his sales team doing? (By the way, if I'm on commission and beating the street everyday and getting nowhere as a salesperson, I'm going to start looking around for something I CAN sell). And we still haven't addressed our cash position. So even if Mannkind fails and goes bankrupt, Mike can walk away and tout all of the important accomplishments he made at Mannkind but by the time he took over the company was too far gone (financially). He then moves on to another CEO position somewhere because.....Once a CEO, always a CEO. Have you ever run into one of those people in your career that talks a good game but really has no idea how to accomplish something? Well, for me the jury is still out on Mike. Do I believe he is committed to success, absolutely I do, I'm just not sure he knows how to get there. I'm just afraid that Mike may be more committed to Mike than to the success of Mannkind and for that reason my guard is up. As I said, just some grist for the thought mill. quote: he hasn't sold Afrezza here in the U.S. What is his sales team doing?
smart ass reply: Trying to retrain medical staff? oh, ha ha ha ha ha ah. Geez louise. It’s about teaching doctors how to shift their behaviors and use the drug, because once they do they don’t go back.
added: Last week we announced a partnership with Brazil. We are also looking at the Middle East — such as United Arab Emirates
the united arab emirates shipment may have some truth to it?
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