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Post by myocat on Nov 15, 2017 9:50:03 GMT -5
That is your choice of course, but consider that all such decisions are a trade-off between preventing dilution on terms you think are unacceptable and managements ability to pursue the strategies it has clearly articulated. Very little happens in this industry that does not cost money, and lots of it, and deep-pocketed partners are not exactly lined up outside the corporate offices; I am sure that tree has been shaken quite thoroughly at this point. Given that the alternative to passing the resolution is authorization of zero new shares, think carefully before you vote no. The alternative to passing THIS resolution is authorization of zero new shares. Voting no does not mean that there won't be a resolution with another proposal put forward to shareholders, with a more easily palatable number in mind. I'll credit MNKD for swinging for the fences in the authorization, but I agree with myocat and dbc in believing that they overstepped in the scope of their request. And I wholeheartedly disagree with the earlier assertion that to vote against the resolution is to vote against progress of the company and is a vote to kill the Treprostinil IND. To make assertions as such is irresponsible. Unchallenged acceptance of BoD and management assertions is not something MNKD has earned from shareholders, and asking and expecting MNKD to be responsible to those same shareholders and be judicious in their request for additional latitude to dilute us is not wishing ill for the company. It's being responsible and pragmatic owners of the company we own. I have no problem authorizing MNKD the ability to raise additional funds through dilution, if necessary, but I won't do it to the extent they want. That doesn't mean I'm against the company's strategy in any way. To quite he contrary, I think they have a good strategy to move forward and I support it. I do not support it enough to allow them to dilute me 100% in my investment as I think there are better ways to accomplish it. To each their own, of course. Voting NO, does not meant it wont pass. I have been long and I am looking forward to a deep discount.
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Post by akemp3000 on Nov 15, 2017 10:06:07 GMT -5
IMHO...No one has a clue as to whether or not Mannkind management will use any of these authorized shares any time in the near future once they're authorized to do so. If they do, no one has a clue as to the strategic purpose. It could be some form of dilution to raise funds for a much larger marketing push. It could be to negotiate a strong partnership with a BP to increase sales. It could also be for a variety of other purposes. I'm guessing they'll use a limited number of shares for something but will keep most on the shelf for later use and long-term growth. Since no one really knows, I'll vote yes because I believe in this management team. If I didn't, I would sell my shares and not have a vote. GLTA
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Post by dreamboatcruise on Nov 15, 2017 10:51:16 GMT -5
IMHO...No one has a clue as to whether or not Mannkind management will use any of these authorized shares any time in the near future once they're authorized to do so. If they do, no one has a clue as to the strategic purpose. It could be some form of dilution to raise funds for a much larger marketing push. It could be to negotiate a strong partnership with a BP to increase sales. It could also be for a variety of other purposes. I'm guessing they'll use a limited number of shares for something but will keep most on the shelf for later use and long-term growth. Since no one really knows, I'll vote yes because I believe in this management team. If I didn't, I would sell my shares and not have a vote. GLTA Except for it is normal to assume that actions being taken by management have some relationship to what they plan to do. Granted no one can prove that. They could have used a random number generator, but I suspect that management does have some rationale for the number they picked... i.e. that they will use some significant portion of them... i.e. dilution. In the end we as shareholders must vote based on the information management has given us, which is very little... but we do know it is giving them the ability to dilute by 50% without any further approval of shareholders. You can assume that there won't be use of most of these shares and massive dilution, but especially given the past history that seems to have little logical basis as an assumption. Since I don't feel management has justified a doubling of shares, I plan to vote against it as I hold my shares. I don't have to agree with 100% of management's actions to be a shareholder. Voting is the process whereby the people that ultimately control the company (shareholders) get to express their views. It is not some rubber stamp that we must apply or else feel we need to sell our shares. All shareholders should vote according to their belief about this one particular issue. I have more belief in Mike than Matt. In fact I have belief that he can succeed without taking away half of my ownership in the company. I have belief that if Mike meets the guidance he has given and delivers the increased insurance he has promised, we should be able to raise ample money with far less shares. For instance if we merely got back to $6, 50M shares would be $300M... by any estimate I've seen that would fund us through profitability even with large ramp up of sales and marketing. And after the Sanofi deal, I don't want to give management my preapproval to give half the company to a BP for a "strong partnership". Let them bring the deal for approval once we know who it is and general terms. Sanofi likely would have been a death blow if they'd been given 50% of the shares. People justified giving the lion's share of the profit to SNY so that it would be a "strong partnership"... and look how that turned out. Not to mention, management seems to be indicating that they are not looking for a comprehensive deal like SNY now (yes, I don't know if it is misdirection, but I tend to give them benefit of the doubt). They have talked about more limited partnering with someone that has underutilized PCP sales reps. No, I would not approve of giving half the company to get access to PCP underutilized sales staff.
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Post by therealisaching on Nov 17, 2017 18:20:47 GMT -5
Proxy statement updated SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT The following table sets forth certain information regarding the ownership of the Company’s common stock as of October 30, 2017 by: (i) each director; (ii) each named executive officer; and (iii) all current executive officers and directors of the Company as a group. As of the date of this proxy statement, the Company was not aware of any beneficial owner of more than five percent of its common stock other than The Mann Group LLC and The Alfred E. Mann Living Trust. The table is based upon information supplied by our executive officers, directors and certain of our security holders, and a review of Schedules 13D and 13G filed with the SEC. Unless otherwise indicated in the footnotes to the table below and subject to community property laws where applicable, we believe that each of the stockholders named in the table has sole voting and investment power with respect to the shares indicated as beneficially owned. Applicable percentages are based on 117,147,107 shares outstanding on October 30, 2017, adjusted as required by rules promulgated by the SEC. These rules generally attribute beneficial ownership of securities to persons who possess sole or shared voting power or investment power with respect to those securities. In addition, the rules include shares of common stock issuable pursuant to the exercise of stock options that are either immediately exercisable or exercisable on or before December 29, 2017, which is 60 days after October 30, 2017. These shares are deemed to be outstanding and beneficially owned by the person holding those options for the purpose of computing the percentage ownership of that person, but they are not treated as outstanding for the purpose of computing the percentage ownership of any other person. Certain of the options in this table are exercisable at any time but, if exercised, are subject to a lapsing right of repurchase until the options are fully vested. Unless otherwise indicated, the address for each person or entity listed in the table is c/o MannKind Corporation, 30930 Russell Ranch Road, Suite 301, Westlake Village, CA 91362. Beneficial Ownership Name and Address of Beneficial Owner Number of Shares Percent of Total Greater than 5% Stockholders The Mann Group LLC(1) 8,621,942 7.4 % 12744 San Fernando Road Sylmar, CA 91342 The Alfred E. Mann Living Trust(2) 8,806,500 7.5 % 12744 San Fernando Road Sylmar, CA 91342 Named Executive Officers and Directors Matthew J. Pfeffer(3) 555,299 * Michael Castagna, Pharm.D.(4) 57,837 * David Thomson, Ph.D., J.D.(5) 389,535 * Raymond Urbanski M.D., Ph.D.(6) 47,851 * Ronald J. Consiglio(7) 70,874 * Michael A. Friedman, M.D.(8) 72,142 * Kent Kresa(9) 244,534 * David H. MacCallum(10) 72,346 * Henry L. Nordhoff(11) 68,576 * James S. Shannon, M.D.(12) 27,674 * All current executive officers and directors as a group (14 persons)(13) 1,318,162 1.1 % * Less than 1%. (1) The Alfred E. Mann Living Trust (the “Trust”) is the sole member and manager of The Mann Group LLC (“The Mann Group”). (2) Includes (i) the shares held by The Mann Group and (ii) 184,558 shares held of record by the Trust. 9
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Post by therealisaching on Nov 17, 2017 18:21:16 GMT -5
Looks like the trust has been selling
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Post by babaoriley on Nov 17, 2017 20:43:17 GMT -5
Hey, therealisaching,
What % did those entities used to have?
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Post by babaoriley on Nov 17, 2017 20:44:35 GMT -5
Hey, therealisaching, What % did those entities used to have? Further, my guess is they sold it for a bit more than the current price, but who knows. I don't really care all that much; it's actually comforting to know that the folks affiliated with Al might actually be smarter than the rest of us!
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Post by therealisaching on Nov 17, 2017 21:25:38 GMT -5
I believe it was 23.7% total
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Post by xanet on Nov 17, 2017 21:36:04 GMT -5
Looks like the trust has been selling So much for the idea that this will easily pass. Retail votes may be important. Remember that not voting is the same as voting "no."
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Post by brotherm1 on Nov 17, 2017 21:37:05 GMT -5
Hey, therealisaching, What % did those entities used to have? Somewhere around 20 mllion shares post split as I recall. Perhaps they sold some to put back in their pocket what their $30 loan to MNKD took out
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Post by rockstarrick on Nov 17, 2017 23:50:06 GMT -5
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Post by mango on Nov 18, 2017 0:18:49 GMT -5
MannKind CEO Mike Castagna has proven beyond a doubt that he is truly devoted to doing his best to help people with diabetes, IMO. The STAT study has already been completed, per Mike, and MannKind currently has two more clinical trials underway with even more anticipated in the future. IND for Technosphere Treprostinil to treat PAH expected in the near future, and several more potential pipeline achievements possible for 2018. We're partnered with truly great people, Charles Mattocks, Damon Dash, Jeff Dashis.
Afrezza is the only insulin in the world that can restore the early phase insulin response that is loss in type 1 and type 2 diabetics. When the pediatric clinical trial is complete, we could see a future where people are able to preserve their beta cells and potentially avoid the health complications associated with chronic hyperglycemia due to the loss of the early-phase insulin response and dysregulated glucose homeostasis.
VDex is continuously adding fuel to their fire, and I suspect 2018 will be a great year for VDex and people with diabetes.
You don't need clinical trials to know and understand that maintaning glucose homeostasis is essential for long-term health. You don't need a clinical trial to know that the early-phase insulin response is loss in type 1 and type 2 diabetics (including "prediabetics"). You don't need clinical trial to prove Afrezza closely mimics endogenous insulin secretion, in such a way that it restores the first-phase insulin response. You don't need a clinical trial to know and understand that restoring glucose homeostasis via restoring the early-phase insulin response would vastly improve short-term and long-term health.
The truth will not be able to go ignored for very long, 2018 should be a year full of revelations for some people. Those that are a part of the Endo Consensus and have their name associated with the Standards of Care won't be able to continue down this road when the evidence becomes undeniable and available for all to see, via CGMs. A "real life" clinical trial with a CGM is no different than seeing the results in the real life I live in now. A CGM doesn't know the difference, only the investigators and participants do.
People with diabetes deserve to be able to live a non-diabetic, or as near a non-diabetic life as they can, and Afrezza can provide that. It can provide what is essential to restoring glucose homeostasis, and no other insulin can do this. It's sinister to suggest this isn't essential and it's sinister to see how the thought leaders have acted.
The ADA says that nearly half of the adult US population either has diabetes or is "prediabetic." I suspect the real numbers are actually more than half. This shit is serious.
The future health of humankind is going to need a company like MannKind to develop safe and effective therapeutics, IMO.
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Post by thekindaguyiyam on Nov 18, 2017 2:23:12 GMT -5
The issuance of the shares do not define when or how they will be used. It comes down to a belief like god. Do you like where the company is heading or do you oppose it. Do you believe in the management's decisions or don't You? Without the ATM which creates tremendous freedom for the board to now demonstrate in front of a large scale audiences the advantages of inhaling rather than injecting is an individual call. I know that Afrezza is THE test drug for Technosphere and believe with enough exposure and media buzz along with other catalysts Afrezza will be successful. If Afrezza is successful then Technospere will be successful. Mannkind is now incharge of it's own destiny. If this were a game of poker my hand feels very strong and though I have been challenged with doubt with little confidence at times because it has been beaten down by Giants; Afrezza will ultimately be recognized for it's superiority.
I Like our Management. The advertisements being shown in sections of the country which were promised by management have demonstrates their deserved trust. They also stated that Scripts would increase in the 4th Q. I expect that to be proven true as well if advertising has affect; as I expect it will. Unshackled Representatives dedicated to one drug speaking to physicians by allowance of New FDA Label change FREES them up to deliver a more accurate picture to promote sales.
Things look very Good to me. I feel the company MNKD has a very talented group of people turning this company around. In that I support their efforts I will be voting my shares a clear YES. I'd rather have MNKD have enough to manifest the goal of delivering Alfred Mann's Afrezza to a global level which will give this company the respect it deserves for it's scientific superiority with no needles. This can be a reality. Our singular drug; Our distribution Contacts... No other Corporations playing us. This is our game now And I have a great hand and have more than doubled down since the 1 for 5 split.
The potential remains what it was before the hurdles which was/is Amazon/Google as I perceive it ... it seems like we are moving closer and closer to sustaining our selves with # of scripts and price increase. This is no time to bind the hands of Mannkind Management. A vote Yes; once again doesn't not mean that all the shares be used; only that the shares be available as a tool for negotiation and time necessary to market. It eliminates the question in physicians minds if the company will be around to deliver what Exubra could not.
Afrezza is Human Insulin EXACTLY like the stuff a Healthy Human Pancreas makes. This is Life Changing. This is money Making. I've made my bet and seen this company stand up to many challenges.. let's watch it cross the finish line. In the face of human suffering Mannkind will deliver relief for a huge population. An investment in Humanity is noble ambition and now attainable.
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Post by lakers on Nov 18, 2017 2:40:33 GMT -5
140M shares are also used as Poison Pill defense, a tool for negotiations.
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Post by xanet on Nov 18, 2017 12:26:29 GMT -5
They have 8.8M shares, so they sold 13.3M shares.
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