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Post by dreamboatcruise on Jan 30, 2018 17:02:08 GMT -5
I was hoping for a slide on the impact they have seen from TV commercials. They must have data. Things I'd like to see in presentations... Regional script data corresponding to TV commercials. Data on monthly/quarterly increase in "writers". Quarterly data on number of US lives that fall into each of the following categories... covered without restriction, covered with restriction and not covered. |
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Post by dreamboatcruise on Jan 30, 2018 17:23:26 GMT -5
I went back to that section on finance. Here are things I heard. He talks about cutting expenses saying "we can slow down hiring, we can slow down marketing... so we have a little bit of control over our own destiny". Immediately followed by "There's a Motley Fool article saying the company is going to go bankrupt and dilute everybody... that's just no where in our plans, so we can put the rumors to rest, and rest assured we've got a plan for success not failure." The last part is kinda a silly fluff statement. No company plans to fail. As for the dilution it appears all he is saying if one looks at the actual sentence as delivered is that dilution through bankruptcy is not in the current plan. It would be going beyond the sentence to assume no future dilution. It would seem dilution for debt conversion and working capital is very likely, both from what can be seen that they are doing and from the share authorization. And he also gave us another notable MNKD quote... he looks at the outstanding debt not as overhangs but as possibilities... that quote I'd certainly rank as having eye roll possibility. Sorry... half joking, but only half... think it's pushing it a bit to go beyond "I can handle this" to "I'm tickled pink by having such a damaged balance sheet". “As for the dilution it appears all he is saying if one looks at the actual sentence as delivered is that dilution through bankruptcy is not in the current plan. It would be going beyond the sentence to assume no future dilution.” That’s not at all what I get out of that. Dilution through bankruptcy? No that’s your own spin you put on there. Lol Yes, while not common, sometimes shareholders are merely diluted not fully washed out in a reorg bankruptcy. I wasn't the one that choose this odd wording joining "bankruptcy" with "diluting everybody" in a union. It's what the sentence grammatically means. "and" is the conjunctive used and it is negated as a singular joint situation. Grammatically if he meant neither bankruptcy nor dilution will occur then it would need to have been worded something like "article saying the company is going to go bankrupt OR dilute everybody... neither of these is in our plan". He may have simply crafted a poor sentence to convey what he meant. I think your other post may indeed be correct that what he was trying to say is that the recent Motely Fool article(s) which imply no way to profitability and no end to dilution are too dire. However, that is still a long way from having said that more dilution (even significant) will not happen before profitability. It is reasonable to assume that he expects some further dilution since a shareholder vote to authorize such was deemed necessary. I'm surprised you'd really think that some further dilution is not likely. You seem to be on tweeting terms with Mike. Why don't you ask him for clarification. Did he intend to say no further dilution will occur? I'd be willing to place a side bet with you that he would not claim that. |
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Post by sportsrancho on Jan 30, 2018 17:36:12 GMT -5
DBC....
“I'm surprised you'd really think that some further dilution is not likely.”
You are assuming that, I never said that, I was a little surprised to hear him say that there wouldn’t be... or not in the way we assume. You can ask 10 people on this board, I was ready for the pump and dump! Lol
I think we are making too much of a big deal out of it all. No way to know... back to scripts.
Although there was something about the Mann group being a backer:-)
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Post by compound26 on Jan 30, 2018 17:40:06 GMT -5
Is the big PBM Mike referred to in the presentation CVS? Mike mentioned that Afrezza is not on the national formula list of the this big PBM yet, but Mannkind can use the newly secured contract to go to places like Blue Shield California to negotiate coverage. Below is what I found out the connection between Blue Shield California and CVS. www.smarteranalyst.com/2018/01/30/mannkind-corporation-dilution-cards/
Blue Shield Partners with CVS for New Pharmacy Drug Benefits Program
NOVEMBER 2, 2016 BY KEVIN KNAUSS 0 COMMENTS Blue Shield of California and CVS Health form a new agreement for our pharmacy benefit management program Blue Shield has entered into an agreement with CVS Health to support manufacturer rebate and pharmacy network contracting for its outpatient pharmacy benefit and has received approval from the Department of Managed Health Care.
CVS Health will manage Blue Shield’s national retail pharmacy network, and become our exclusive mail order pharmacy for Commercial and Medicare plans and our specialty pharmacy for Commercial plans, starting January 1, 2017. This new agreement will enable Blue Shield to leverage CVS Health’s purchasing power and reduce pharmacy costs. It will allow us to offer more competitive pharmacy products while continuing in our commitment to provide access and convenience for our members. The new pharmacy network changes will apply to all Blue Shield lines of business:
Commercial: Premier, Core, Small Business, Individual and Family Plans (IFP) and Self-Funded/Administrative Services Only (ASO)
Medicare: Individual and Group Medicare Advantage and Prescription Drug plans Pharmacy network changes that will affect how our members access their benefits at the retail, mail order and specialty pharmacy will become effective January 1, 2017. Impacted members will be notified 60 days in advance of these changes by mail and telephone. What are the pharmacy network changes? There are three areas that will be affected by these changes. The member impact for most of these changes are relatively minimal and are as follows: Retail pharmacy CVS Health will support Blue Shield’s retail network contracts. The Blue Shield network retail pharmacies will be nearly unchanged and will continue to include all key chains such as CVS, Walgreens, Rite-Aid, Costco and many others. The vast majority of our members will continue to have the same convenient access to network pharmacies near where they live and work. In fact, the network pharmacies with preferred cost-sharing will expand to include additional national retail pharmacies. Please refer to the 2017 Medicare Pharmacy Directories for more information. Mail order pharmacy Blue Shield will transition from current mail order pharmacy, PrimeMail, to CVS Health mail order pharmacy. Specialty pharmacy Currently, Blue Shield’s commercial specialty network includes two vendors, CVS/Caremark and Walgreens Specialty, with the majority of specialty prescriptions filled by CVS/Caremark. With the agreement, CVS/Caremark will become our exclusive specialty pharmacy for Commercial plans. Members shall continue to have the convenient access to pick up their specialty medications at a local retail CVS pharmacy. Medicare plans will continue to have an open specialty pharmacy network, which includes Walgreens Specialty and CVS/Caremark. Transition plan Blue Shield Pharmacy Services has been working with CVS Health to develop an implementation plan that ensures a smooth transition. As part of the plan, members who may be affected by these changes will be notified 60 days in advance of the January 1 effective date. For retail Letters will be sent to impacted members, which will provide information on up to four network pharmacies (two based on the member’s address on file and two based on the terming pharmacies address). For specialty and mail order Letters will be sent to impacted members. Members will also receive CVS Health Welcome Kits. Active specialty and mail order prescriptions For prescriptions that have active, remaining refills, Blue Shield will work with PrimeMail (mail order) and Walgreens Specialty (for specialty drugs) to transfer members’ remaining refill prescriptions to CVS/Caremark. Member payment information, such as credit card details, will not be transferred. Members will need to register with CVS/Caremark to provide this information. CVS will conduct a call campaign to these members to assist with registration. Non-transferable drugs Some selected drugs are not eligible for transfer, such as Schedule 2 prescriptions. Since Federal law doesn’t allow refills for Schedule 2 prescription drugs, members using such drugs will have to visit their provider to get new prescriptions for each fill, even when using mail order. Additional information will be provided in a future communication as we get closer to implementation. Read more at calhealthnews.com/blue-shield-partners-cvs-new-pharmacy-drug-benefits-program/#o68rqSlHDxmreKI7.99 |
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Post by tingtongtung on Jan 30, 2018 17:54:17 GMT -5
“As for the dilution it appears all he is saying if one looks at the actual sentence as delivered is that dilution through bankruptcy is not in the current plan. It would be going beyond the sentence to assume no future dilution.” That’s not at all what I get out of that. Dilution through bankruptcy? No that’s your own spin you put on there. Lol Holy cow! Are we really discussing grammar? For all intensive purposes, I could of thought that this is about MNKD :-) From @dbc: mnkd.proboards.com/post/137378/thread"Yes, that was what was said. But that's like someone that has maxed out all of their credit cards and has little income blithely saying that they view each new credit card bill as a great possibility to improve the situation, possibly renegotiating payment terms. Yeah, from a self help perspective, it's good to make the best of any bad situation and stay positive, but debt is bad not good, and it is an overhang financially speaking. Getting hit by a car is a possibility to heal... hopefully a possibility, like having a company with such burdensome debt load needing constant renegotiation, that I shall never experience [sorry, I need some anti-sarcastic pills today  ] " Well, he was just sugar coating it, IMO. Do you want him to say, "OMG, we have so much debt, I dont know what to do" like that horrible quote by Hakan? He has to say positive things, else aren't there thousands of class-action lawyers trying to sue companies? Another @dbc: mnkd.proboards.com/post/137382/thread"Other than the one recent thing that I'm sure everyone knows I believe was a misstep..." --> What misstep? With my very little knowledge about raising cash, I don't see another way of raising cash other than dilution. They can issue bonds with huge interest, but there is no collateral left (IMHO). They can issue preferred shares (I think it dilutes as well?) Or, they can do like what they did last time. But, they cant always do that trick of making the shares go up >200%, and raise cash. How many times can you use that trick ;-) I dont want another dilution, but I guess that's a definite possibility. Only thing is at what price point? Scripts have to move up significantly, adding value to the company, and then MNKD can raise at a higher valuation. But, there will be a dilution. |
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Post by compound26 on Jan 30, 2018 17:59:51 GMT -5
In addition to Blue Shield California, Mike also mentioned Hawaii. Here is the what you can find from HMSA's webite: hmsa.com/help-center/cvs-caremark-is-hmsas-new-pharmacy-benefit-manager/CVS Caremark is HMSA’s Pharmacy Benefit Manager
LAST MODIFIED: 5/14/2013 4:11:35 PMARTICLE: KB00241 On January 1, 2013, CVS Caremark replaced Medco Health Solutions (now known as Express Scripts) as HMSA’s pharmacy benefit manager (PBM). CVS Caremark processes prescription drug claims for members who have HMSA drug coverage. Note: Some employer groups contract independently with CVS Caremark to provide drug coverage that isn’t through HMSA. Members of these groups may have a separate CVS Caremark card. If you have any questions regarding your drug plan, please call the phone number on the back of your membership card. en.wikipedia.org/wiki/Hawaii_Medical_Service_AssociationHawaii Medical Service Association (HMSA) is a nonprofit health insurer in the state of Hawaii. HMSA was founded in 1938, is an independent licensee of the Blue Cross Blue Shield Association, and is the largest insurer in the state of Hawaii serving more than 700,000 people. |
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Post by lennymnkd on Jan 30, 2018 18:02:44 GMT -5
What did mike say is up to the monopolies out there ? In the question period.
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Post by compound26 on Jan 30, 2018 18:08:12 GMT -5
What did mike say is up to the monopolies out there ? In the question period. Here is my understanding. Mike is saying that Mannkind is currently able to get 70% of the patients being reimbursed by insurance. Someone seems to have asked Mike when do you think you can get that percentage to cross 80% and above. Mike says that is up to the monopolies out there, but we will get there. |
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Post by babaoriley on Jan 30, 2018 18:40:19 GMT -5
“As for the dilution it appears all he is saying if one looks at the actual sentence as delivered is that dilution through bankruptcy is not in the current plan. It would be going beyond the sentence to assume no future dilution.” That’s not at all what I get out of that. Dilution through bankruptcy? No that’s your own spin you put on there. Lol Yes, while not common, sometimes shareholders are merely diluted not fully washed out in a reorg bankruptcy. I wasn't the one that choose this odd wording joining "bankruptcy" with "diluting everybody" in a union. It's what the sentence grammatically means. "and" is the conjunctive used and it is negated as a singular joint situation. Grammatically if he meant neither bankruptcy nor dilution will occur then it would need to have been worded something like "article saying the company is going to go bankrupt OR dilute everybody... neither of these is in our plan". He may have simply crafted a poor sentence to convey what he meant. I think your other post may indeed be correct that what he was trying to say is that the recent Motely Fool article(s) which imply no way to profitability and no end to dilution are too dire. However, that is still a long way from having said that more dilution (even significant) will not happen before profitability. It is reasonable to assume that he expects some further dilution since a shareholder vote to authorize such was deemed necessary. I'm surprised you'd really think that some further dilution is not likely. You seem to be on tweeting terms with Mike. Why don't you ask him for clarification. Did he intend to say no further dilution will occur? I'd be willing to place a side bet with you that he would not claim that. Wow, what a response! Really unbelievable. Now, if Mike had written those words, that would have been one thing, but saying them, people say stuff like that all the time and people don't break down their verbal sentences like you just did. I will admit, though, I was looking for a grammatical error in your response, and you had some chances to go wrong, but you didn't. Nice job as far as that goes! |
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Post by dreamboatcruise on Jan 30, 2018 19:05:17 GMT -5
Is the big PBM Mike referred to in the presentation CVS? Mike mentioned that Afrezza is not on the national formula list of the this big PBM yet, but Mannkind can use the newly secured contract to go to places like Blue Shield California to negotiate coverage. Below is what I found out the connection between Blue Shield California and CVS. www.smarteranalyst.com/2018/01/30/mannkind-corporation-dilution-cards/
Blue Shield Partners with CVS for New Pharmacy Drug Benefits Program
NOVEMBER 2, 2016 BY KEVIN KNAUSS 0 COMMENTS Blue Shield of California and CVS Health form a new agreement for our pharmacy benefit management program Blue Shield has entered into an agreement with CVS Health to support manufacturer rebate and pharmacy network contracting for its outpatient pharmacy benefit and has received approval from the Department of Managed Health Care.
CVS Health will manage Blue Shield’s national retail pharmacy network, and become our exclusive mail order pharmacy for Commercial and Medicare plans and our specialty pharmacy for Commercial plans, starting January 1, 2017. This new agreement will enable Blue Shield to leverage CVS Health’s purchasing power and reduce pharmacy costs. It will allow us to offer more competitive pharmacy products while continuing in our commitment to provide access and convenience for our members. The new pharmacy network changes will apply to all Blue Shield lines of business:
Commercial: Premier, Core, Small Business, Individual and Family Plans (IFP) and Self-Funded/Administrative Services Only (ASO)
Medicare: Individual and Group Medicare Advantage and Prescription Drug plans Pharmacy network changes that will affect how our members access their benefits at the retail, mail order and specialty pharmacy will become effective January 1, 2017. Impacted members will be notified 60 days in advance of these changes by mail and telephone. What are the pharmacy network changes? There are three areas that will be affected by these changes. The member impact for most of these changes are relatively minimal and are as follows: Retail pharmacy CVS Health will support Blue Shield’s retail network contracts. The Blue Shield network retail pharmacies will be nearly unchanged and will continue to include all key chains such as CVS, Walgreens, Rite-Aid, Costco and many others. The vast majority of our members will continue to have the same convenient access to network pharmacies near where they live and work. In fact, the network pharmacies with preferred cost-sharing will expand to include additional national retail pharmacies. Please refer to the 2017 Medicare Pharmacy Directories for more information. Mail order pharmacy Blue Shield will transition from current mail order pharmacy, PrimeMail, to CVS Health mail order pharmacy. Specialty pharmacy Currently, Blue Shield’s commercial specialty network includes two vendors, CVS/Caremark and Walgreens Specialty, with the majority of specialty prescriptions filled by CVS/Caremark. With the agreement, CVS/Caremark will become our exclusive specialty pharmacy for Commercial plans. Members shall continue to have the convenient access to pick up their specialty medications at a local retail CVS pharmacy. Medicare plans will continue to have an open specialty pharmacy network, which includes Walgreens Specialty and CVS/Caremark. Transition plan Blue Shield Pharmacy Services has been working with CVS Health to develop an implementation plan that ensures a smooth transition. As part of the plan, members who may be affected by these changes will be notified 60 days in advance of the January 1 effective date. For retail Letters will be sent to impacted members, which will provide information on up to four network pharmacies (two based on the member’s address on file and two based on the terming pharmacies address). For specialty and mail order Letters will be sent to impacted members. Members will also receive CVS Health Welcome Kits. Active specialty and mail order prescriptions For prescriptions that have active, remaining refills, Blue Shield will work with PrimeMail (mail order) and Walgreens Specialty (for specialty drugs) to transfer members’ remaining refill prescriptions to CVS/Caremark. Member payment information, such as credit card details, will not be transferred. Members will need to register with CVS/Caremark to provide this information. CVS will conduct a call campaign to these members to assist with registration. Non-transferable drugs Some selected drugs are not eligible for transfer, such as Schedule 2 prescriptions. Since Federal law doesn’t allow refills for Schedule 2 prescription drugs, members using such drugs will have to visit their provider to get new prescriptions for each fill, even when using mail order. Additional information will be provided in a future communication as we get closer to implementation. Read more at calhealthnews.com/blue-shield-partners-cvs-new-pharmacy-drug-benefits-program/#o68rqSlHDxmreKI7.99I had the same thought and had looked that up as well. It seems he was saying whatever was accomplished, with whomever it is, is only a first step. I guess the take away is the are making small steps but we don't have a big change in formularies here in Q1 like many of us were hoping for based on previous comments from management. Nice work on the HI connection. Was Mike throwing clues out on purpose? |
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Post by dreamboatcruise on Jan 30, 2018 19:16:24 GMT -5
Yes, while not common, sometimes shareholders are merely diluted not fully washed out in a reorg bankruptcy. I wasn't the one that choose this odd wording joining "bankruptcy" with "diluting everybody" in a union. It's what the sentence grammatically means. "and" is the conjunctive used and it is negated as a singular joint situation. Grammatically if he meant neither bankruptcy nor dilution will occur then it would need to have been worded something like "article saying the company is going to go bankrupt OR dilute everybody... neither of these is in our plan". He may have simply crafted a poor sentence to convey what he meant. I think your other post may indeed be correct that what he was trying to say is that the recent Motely Fool article(s) which imply no way to profitability and no end to dilution are too dire. However, that is still a long way from having said that more dilution (even significant) will not happen before profitability. It is reasonable to assume that he expects some further dilution since a shareholder vote to authorize such was deemed necessary. I'm surprised you'd really think that some further dilution is not likely. You seem to be on tweeting terms with Mike. Why don't you ask him for clarification. Did he intend to say no further dilution will occur? I'd be willing to place a side bet with you that he would not claim that. Wow, what a response! Really unbelievable. Now, if Mike had written those words, that would have been one thing, but saying them, people say stuff like that all the time and people don't break down their verbal sentences like you just did. I will admit, though, I was looking for a grammatical error in your response, and you had some chances to go wrong, but you didn't. Nice job as far as that goes! It's not that I ordinarily would nitpick sentences but the assertion was made that he said "no dilution". If one wishes to determine whether Mike said that, it does unfortunately come down to trying to interpret what was probably an ill crafted spontaneous choice of words... unless of course he strategically picked those words to allow people to read things into it that he might want them to that would go beyond what he can actually say truthfully. I'm guessing the former. To me I think the important thing is the intent not particular words. I think he clearly intended to say he disagreed with MF's dire assessment, which was basically no path to profitability. I don't think the intent was to say no dilution. Wow... I am shocked I had one whole post without any grammatical issues... are you sure? I often can make too errors in one sentence, which is two many. |
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Post by dreamboatcruise on Jan 30, 2018 19:17:43 GMT -5
What did mike say is up to the monopolies out there ? In the question period. Here is my understanding. Mike is saying that Mannkind is currently able to get 70% of the patients being reimbursed by insurance. Someone seems to have asked Mike when do you think you can get that percentage to cross 80% and above. Mike says that is up to the monopolies out there, but we will get there. Wasn't it 70% commercial insurance and 50% Medicare? |
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Post by sophie on Jan 30, 2018 22:17:07 GMT -5
Was it a slip that Mike named the Lilly and Novo CMOs as interviewees? I can’t imagine they’d want their respective employers knowing they were looking around.
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Post by digger on Jan 30, 2018 22:35:07 GMT -5
I was hoping for a slide on the impact they have seen from TV commercials. They must have data. Things I'd like to see in presentations... Regional script data corresponding to TV commercials. Data on monthly/quarterly increase in "writers". Quarterly data on number of US lives that fall into each of the following categories... covered without restriction, covered with restriction and not covered. I would rather see a survey revealing how many diabetics have actually seen the ads and inquiring about their perception of afrezza afterwards. |
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Post by dreamboatcruise on Jan 31, 2018 2:06:19 GMT -5
Things I'd like to see in presentations... Regional script data corresponding to TV commercials. Data on monthly/quarterly increase in "writers". Quarterly data on number of US lives that fall into each of the following categories... covered without restriction, covered with restriction and not covered. I would rather see a survey revealing how many diabetics have actually seen the ads and inquiring about their perception of afrezza afterwards. What you are asking for would require a large amount of polling paid for by MNKD. Likely not a great use of money. I'm sure they did some review of ads with trial audiences to gauge the perception of the ads... and they get data estimating the number of views of the ads. |
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