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Post by mannmade on Jun 12, 2014 13:48:40 GMT -5
Am hearing that mnkd said partnership should be finalized 6 to 8 weeks after PDUFA announcement. Meant to add can anyone confirm as I have not listened to the call yet, but did notice a momentary spike in price to $10.17.
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Post by kc on Jun 12, 2014 13:53:25 GMT -5
The ending was good with "hopfully be back to you by July 15 with good and uplifting news."
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Post by garrett on Jun 12, 2014 14:19:17 GMT -5
Hakan said about 6 to 8 weeks and Matt said that he expected longer - say good bye to 10 PPS for awhile. Hakan should have stayed home.
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Post by mdcenter61 on Jun 12, 2014 14:27:44 GMT -5
You know, one day at a time, first we want approval with a good label. The other facet (partnership, etc.) works out after that step. I have been holding through thick and thin, so once I see approval I'm not going to let a few weeks rock me either way. Personally, it wouldn't surprise me one bit if that was thrown out there today (6-8 weeks or longer) just to set the bait for a bear trap. That being said, it also wouldn't surprise me if Al and management really do take that time to make the best deal. If I was at Al's age, I wouldn't even want to take out a magazine subscription much less wait further to negotiate a multi-billion dollar deal, but he is a remarkable man and this is his time to shine. Most of my holdings are in my Roth that I really can't touch for another six years so what the hell!
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Post by otherottawaguy on Jun 12, 2014 14:48:13 GMT -5
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Post by orlon on Jun 12, 2014 15:12:51 GMT -5
Every time this company gets anywhere close to approval, someone comes out and shoots it in the foot...I think it's time they stay away from these presentations and just concentrate on the task at hand. I've been an investor for at least five years and have heard it all before. The same analyst asking the same questions, and at least one member of the management team putting his foot in his month when Al isn't there.
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Post by savzak on Jun 12, 2014 15:38:23 GMT -5
Every time this company gets anywhere close to approval, someone comes out and shoots it in the foot...I think it's time they stay away from these presentations and just concentrate on the task at hand. I've been an investor for at least five years and have heard it all before. The same analyst asking the same questions, and at least one member of the management team putting his foot in his month when Al isn't there. I haven't heard the comment so I may be speaking out of turn but it doesn't sound to me like anyone shot themselves in the foot. The market was euphoric for MNKD and we've seen it cool off substantially over the past few trading days. It looks to me like the market was ripe to give a little back.
Further, this particular sell off may've been orchestrated. If so, any reason for the big sell volume might have been utilized.
To acknowledge we might not partner for 2 months after the label is known just does not seem like that big of a deal to me; especially if it's really what they think based on the status of their conversations with the partners and whatever the remaining questions are about the final label.
I suppose someone could be fearful of a little extra dilution, but I suspect Al's credit line will do the trick for such a short time period.
In the end, to me, this is just typical MNKD trading. I can't blame it on what is otherwise a seemingly innocuous comment.
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Post by BD on Jun 12, 2014 15:58:22 GMT -5
Here's what FlyOnTheWall has to say (nothing new here, just sharing what Fly's subscribers are seeing):
16:50 EDT MNKD theflyonthewall.com: MannKind says it is in talks with partners for Afrezza
MannKind says it is in talks with partners for Afrezza and the company sees needing 6 to 8 weeks post the drug's PDUFA date to finalize any partnerships, which it expects to be royalty based or profit sharing arrangments. MannKind sees pricing Affrezza comparable to injected insulin. MannKind notes that the PDUFA date for Afrezza is July 15. Comments made earlier by CFO Matthew Pfeffer at the Goldman Sachs Global Healthcare conference. :theflyonthewall
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Post by kc on Jun 12, 2014 17:03:11 GMT -5
The market was down -109 at the close. We were down 6% from yesterday's close of 10.35 a share. We really didn't give back much to anybody. The Hedges wanted to clean the small day traders clock and they did their job well. I didn't think Haken stumbled any as they both are presenting a very conservative view and shouldn't say much about things that they don't want released publicly. Sometimes you keep your cards to the vest. They very well may already have a deal and parntnership in the bag so making a comment that that decesion was off in the future was not a lie or misleading.
One of the reasons that they might have pulled the exhibition booth at the ADA is because they have a partner picked out and there was no reason to show that hand today with the knowledge that a month from now they do the realy roll out after FDA approval.
The best is yet to come.
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Post by brentie on Jun 12, 2014 17:25:43 GMT -5
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Post by Deleted on Jun 12, 2014 17:59:54 GMT -5
Is Greenhill still working for us?
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Post by garrett on Jun 12, 2014 20:19:45 GMT -5
This is what I learned from today's healthcare conference along with my commentary:
1)Partnership deal is not going to happen before the PUDFA Date.
2)MNKD currently in negotiation with FDA over labeling - CLR highly unlikely.
3)Substantive discussions with potential partners won't take place until after the PUDFA date with full knowledge of labeling and other possible restrictions.
4)Hakan thinks partnership deal won't happen for 6 to 8 weeks after PUDFA date. Matt thinks partnership deal will take longer due to complex negotiations and lawyer interaction & legal negotiations (I tend to believe it will take longer).
5)As partnership negotiation continue, MNKD will proceed in preparing the mfg facility for production.
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Post by babaoriley on Jun 12, 2014 22:16:38 GMT -5
Today's Call - A Gift to the Shorts!
Shorts were just handed a very nice reprieve; no need to hurry up and cover due to a possible early partnership announcement, no, they can sit back and wait for the expected pull back after approval. Well, I hope it's expected, anyway, cuz the more it's expected, the less likely it will be to happen - take that to the Bank!
Stock moved down pretty hard just at the time the talk about 6-8 weeks post FDA decision before any partnership (that was no coincidence, and had very little do with the overall market weakness, besides, the biotech sector did okay today). Forget about the shades of difference between Hakan and Matt during the presentation, the message is essentially the same from both - label first, then the real negotiations begin. The August calls dropped precipitously, too, as one would expect.
Now, I do really like my recent trade of selling August $10 calls, and buying Jan 2015 $11 calls, but I sure wish I had done more of that.
Could this have been a great misdirection play by Matt and Hokan on Al's orders to fry the shorts? Very unlikely, but sure would be great if it were!
And Hakan, I believe, mentioned right toward the end that they intend to keep their manufacturing business.
Is Al being a "bear" in terms of the negotiations, or is it really that everyone just needs to see the label or is it both?
Spiro, so where's your $12 now? LOL!! Don't worry, my friend, you are still the King of Mannkind!
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Post by bradleysbest on Jun 13, 2014 0:21:19 GMT -5
I don't see a need to rush a deal after FDA approval. Al & his staff will have the leverage & should use it to their full advantage. I would be disappointed if a deal was immediately announced. This isn't the time to jump at the first opportunity. Bottom line for me is, " In Al I trust"!
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Post by coco on Jun 13, 2014 0:42:30 GMT -5
I totally agree. We have to look at all of our options here. If we get approval we will be in the driver's seat. We can call the shots, especially with a very favorable label. These things take time. The last thing we need is for Al to rush into some agreement that is just so so. There may even be potential partners out there that are just waiting to see if we are approved and the label and then may jump in with a great offer. So I'm ok with the finalization of the partnership taking some time. We have waited this long, what's a few more months. Coco  |
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