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Post by trenddiver on Nov 28, 2015 21:05:14 GMT -5
AF and cronies continually compare Afrezza with Exubra, that gives us a clue as to their motivation. Afrezza sales are disappointing, however, month-over-month sales indicate respectable growth. This growth will only increase over time; that is the factor to keep your eyes on. I think we need a way to distinguish between Afrezza success and MNKD success. We keep mixing them together. As I said previously almost everyone feels comfortable that Afrezza will succeed, one way or another. It's just too good to go away. What's confusing us all is whether MNKD can find a way forward that will let them take advantage of that success no matter when it occurs; 2016, 2017, or later. Right now all we know is that they only secured about 1/3 of the funding to persist into 2017. They also removed Hakan as CEO, installed Al as interim CEO, and then retained Hakan until July 2017. Everytime we think we're finishing the last chapter in the novel, the author tells us that a new book will be coming out "real soon." I'm not sure "almost everyone feels comfortable" that Afrezza will succeed. In fact there are short interests representing 125 million shares who feel just the opposite. My own opinion is that Afrezza may succeed or may not succeed. I'm hoping that it will succeed, but 600 scripts a week means it is failing in the market place right now and we have seen very little to indicate that things are getting better. Most doctors either dont know about it or are afraid of the product and most interested patients can't afford it. The are a lot of products that came to market that were great ideas that failed for a multitude of reasons, I hope Afrezza isn't one of those. Trend |
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Post by trenddiver on Nov 28, 2015 20:23:04 GMT -5
rockstarrick that's just it, no one can or would dispute "how afrezza has literally changed the lives of everybody using it", but this has absolutely nothing to do with current issues/obstacles. Not even AF and his cronies are claiming Afrezza doesn't work; so let me try and understand your view, you believe that Afrezza works SO well that if all else fails, it'll sell itself because (once again) it is SO good? Well I have disappointing news for you, Afrezza would have been selling like hot cakes if this were the case, instead we see <600nRx/week (and this is despite the concerted effort you actually believe SNY is/has made). So given the fact that despite how great Afrezza works it has not been able to sell itself (even with SNY's supposed arduous effort), how can you continue to hang your hat on the "Afrezza has literally changed the lives of everybody using it" rack as an optimistic "if all else fails" fallback? So what do we disagree on? You are wholly focused on the non-investment side of the equation (Afrezza's efficacy) but Afrezza is merely a drug, it NEEDS a company to commercialize it, to negotiate its insurance coverage, to run ongoing safety studies etc-etc-etc., that company NEEDS a competent management team to execute AND investors/financing to supply money for operation. This is about so much more than Afrezza, yet you have decided Afrezza (a product) will make up for every other aspect of this [unbalanced] equation because it works SO WELL. I think you are a genuine person judging by your thoughts, so I wish you luck in your pursuits, but I believe your method and investment rationale in this case is deeply flawed. In the battle of speculation vs reality, jeremg's posts are most convincing. Being a bean counter we used to say "it's the bottom line that matters". There is so much speculation on this board obviously because Mannkind's management has a policy of keeping its investors in the dark. The reasons for this have all been thoroughly discussed on this board. However it is my prediction that this policy is about to change and we will soon get some answers to the many questions and theories proffered on this board. Trend |
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Post by trenddiver on Nov 28, 2015 19:07:00 GMT -5
It's important to mention, that after January 2015, MNKD could theoretically negotiate the sale of Afrezza to any BP. That BP would then have 100% of Afrezza profits. Of course, MNKD would still be on the hook for the line of credit with Sanofi. Agree on the investment of a lifetime or bust though! Never in my wildest dreams did I think we would be at $2.08/share over a year after approval. Absolutely unreal. Still long, though  Fedakd, There is no such ability for Mannkind to sell Afrezza to some othe BP entity. I suggest you read the Agreement between a Mannkind and Sanofi and after you have done so, post the paragraph in the Agreement which permits this action. Trend |
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Post by trenddiver on Nov 27, 2015 18:31:00 GMT -5
Pretty obvious. Warrants expire in Feb 16 . Each warrant entitles holder to buy .6 shares at $2.40. At this point, the warrants are underwater. If I remember many shorts bought warrants as hedge. If warrants expire worthless, perhaps less shares available for shorts to cover with.
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8-K
Nov 26, 2015 13:48:16 GMT -5
Post by trenddiver on Nov 26, 2015 13:48:16 GMT -5
At this juncture, Mnkd needs a CEO with different skill sets, especially negotiation skill, and authority. Al has that. It may be early to judge whether Afrezza deal is a raw deal or not as CTO obfuscated many details. One mysterious milestone has no title, type, $$$. The Buy In/Out detail was redacted. Interestingly, CTO expires 11/10/2017, 4.5 mos after Hakan's service ending 7/1/17 indicating an air tight gag order for something extraordinarily important such as a mysterious joint dev, or Buy In/Out based on certain milestones, CRVs. Mnkd BoD must have consulted Sanofi before deciding to retain Hanka's service that extraordinarily long. This indicated Sanofi and Mnkd can't afford to leak CTO. IMHO, Hakan made a poor judgment by committing to a deal before EOY. He might have been scorned by Matt. Hakan then quickly added "or 1Q16". In negotiations, when you need it more than the potential partners, do not announce a deadline to the public b/c it undermines your leverage as they know mgmt would be subject to SH law suit if that won't materialize. Al had no choice but took over. Back in May, Matt seemed so cavalier saying that Mnkd might have enough cast to pay off $100M Notes. Moreover, mgmt didn't have a sense of urgency about the cash balance or how to fund TS pipeline. Mgmt must have thought deals were imminent. Ironically, to avoid another SH law suit, Al has to close deals in the timeline dictated by his subordinate. As a deal making veteran, Al felt boxed in. He had to take over to prevent future mishaps. Al is not entirely irreprehensible as he knows Hakan and Matt better than anyone else. Hakan is a decent COO but the CEO job was beyond his league. I didn't feel Hakan qualified. Al rewarded loyalty for the CEO job. He must have been overconfident that Afrezza would be launched smoothly out of the gate. Afrezza is Al's first drug gig. He underestimated what it took and BP's, shorts' resolve to kill Afrezza. Al put all eggs in one basket. He should have pumped more money into Mnkd to dev TS pipeline concurrently instead of suspending them and laying off developers. He should know drug dev is very time consuming. Afrezza superior study should have been started last year right after the Sny deal. Many asked why mgmt didn't raise fund when pps was in double digits. The simple answer was everyone thought Afrezza would be a BB out of the gate. Apparently, they repeat the same mistake as another drug. The pre-launch mkt research mgmt conducted about Afrezza was faulty. You can't say you didn't anticipate the spirometer, mkt access, pricing, conservative MDs considering that Sny has launched many drugs and knew about the other drug debacle. To be fair it's 90% Al's, 10% Hakan's culpability. Al was the one who recruited, groomed, and promoted Hakan. He must know Hakan's limitation. I chalk it up as Al's lesson learned as he was an amateur in drug biz. Al has had more experience in device than drug biz. Ditto his deal making expertise. Laker, Can you explain the context of your reference to CTO? Trend |
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8-K
Nov 26, 2015 13:03:25 GMT -5
Post by trenddiver on Nov 26, 2015 13:03:25 GMT -5
As President, Chief Operating Officer and Director at MANNKIND CORP, Hakan S. Edstrom made $2,687,254 in total compensation. Of this total $748,846 was received as a salary, $647,003 was received as a bonus, $941,556 was received in stock options, $319,050 was awarded as stock and $30,799 came from other types of compensation. This information is according to proxy statements filed for the 2014 fiscal year. www1.salary.com/Hakan-S-Edstrom-Salary-Bonus-Stock-Options-for-MANNKIND-CORP.htmlAs soon as a new, permanent CEO is announced, let's see if Hakan will be terminated immediately as Mnkd can't afford to pay at least another $3M total comp while still paying Hakan till 7/1/17. The 1 year 7 mos pay plus 2015 salary and avg of last 3 yrs bonus for 2015 is extraordinarily generous for a cash trapped company. If Hakan is still employed then he is kept for CTO reason. Some thought why not keeping him around b/c we'd pay him severance anyway. I think not. In most case the resigning CEO would have been shown the door for the sake of employee morale. Especially, he resigned when the boat was in a storm negotiating a passage to safety. No credible captain would voluntarily bails out at this time. He didn't resign for health reason. Investors forced BoD to disclose Steve Jobs' poor health since as a CEO his health would impact his company's performance. If Hakan had poor health, he wouldn't work until 7/1/17. Apparently, he was forced to resign.z What do you mean by CTO? |
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Post by trenddiver on Nov 26, 2015 11:13:04 GMT -5
Sorry. One of the dumbest posts ever on this board. No, it really isn't! Please enlighten us!!!! IMHO, this is a closet basher constantly keeping bankruptcy in the forefront of the discussion. It's a tactic that the shorts use. Just read his threads and posts. Trend |
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Post by trenddiver on Nov 26, 2015 2:09:52 GMT -5
Let's hope it doesn't come down to that. If Al had to bail us out again, I fear the stock price would do below $1. A s/p of $1 would be beyond my wildest dreams as I believe that MannKind will be doing very well a few years up the road. I am adding as many shares as I can and plan to continue doing so for as long as possible. Al will never let the company, Technosphere, and Afrezza fail. No matter what the shorts do and no matter what pundits say if Al does bail out the company, I will be adding shares. I agree with you, it would an unbelievable buying opportunity. |
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Post by trenddiver on Nov 26, 2015 2:05:20 GMT -5
So Hakan is still around collecting salary until July 2017 - doesn't sound like he was fired. I have read numerous comments from numerous posters that MannKind would be bankrupt before 2017. How can this be??? Sorry. One of the dumbest posts ever on this board. |
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8-K
Nov 25, 2015 22:15:17 GMT -5
jpg likes this
Post by trenddiver on Nov 25, 2015 22:15:17 GMT -5
It rather looks to me that there is a mutual agreement among the parties on this. The BOD probably felt that new energy and vision are in strong need at present and possibly had concerns whether Mr. Edstrom would contribute that. As for Mr. Edstrom likewise considering the future effort required to put the company on the right footing, and possibly pressed by the BOD, decided he would rather wind down than wind up. The separation is largely amicable in that regard. There is also the consideration that the stopgap CEO at this point is 90, so keeping the prior executive on retainer to 'provide transition and other services' is a requirement. Once a new CEO can be lined up, I'm sure his role will be quickly eliminated. Lets get this straight, the BOD was handpicked by Al and you can be sure every Board member votes lock, stock and barrel along with Al's wishes. |
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Post by trenddiver on Nov 24, 2015 17:16:13 GMT -5
Various viewpoints are welcome. Personal attacks on somebody's character are not, so I think it's time to drop the sniping, guys.
Many investors considering MNKD stock come here for information. Ownership is not a prerequisite for posting. I think there are many of us here who are critical as it is necessary to consider the "source". Some of the posters here are terrorists (FUD Enthusiasts) who have always worked together to discredit Afrezza, Management and any posters who call them on their BS. To ignore those who have manipulated content on this board is to ignore the obvious. Good work moderators I know it isn't easy. What's real and what's the illusion has always been the question from the beginning of time. Consider the source I say again. We have a trojan horse in the middle of our community. Please let me know if I am incorrect but I'm assuming your remarks are directed at me, so I will take the liberty to respond. With respect to my postings, I just call it as I see it. In my postings I have both criticized and supported management. I have both criticized certain postings and posters and supported others. What one might think is FUD, is reality or truth to me. I am an equal opportunity poster calling out bu***hit when I see it. I happened to have viewed jpg's post as a form of FUD. With respect to considering the "source", I own many shares and have for a long time and want nothing more than to see Mannkind successful. I've been both a CEO and a CFO, so I know what is required of the position. And my criticism of Hakan was certainly born out, because he was replaced. In conclusion, some of my postings might have gotten a little too personal and for that I apologize. Trend |
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Post by trenddiver on Nov 24, 2015 11:18:40 GMT -5
Trend, I think jpg is always on the level, in other words, I think his posts reflect his genuine mindset. He once and for some long while was irrationally exuberant about MNKD, facts have changed and so has his mind. He is not as irrational, and clearly not as exuberant as he was a year or two ago. I'm proud of his progress on both fronts  - dark-side pessimists like myself enjoy helping to drag others down with us! BTW, I think most of us believe jpg to be a physician, thus, so much for his investing prowess! Baba, You know that I always appreciate your perspectives. I am glad you and other old timers are still around. Trend |
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Post by trenddiver on Nov 24, 2015 10:40:44 GMT -5
If he's leaving, it's because Al has seen the light and has realized that he and the company have been poorly served with Matt as the CFO. Al was a multi-billionaire before Mannkind and still is. And I suggest you stop worrying the company's finances. You own no shares so you have nothing to lose. I'm just perplexed that someone with no financial interest would be spending so much time on this board. GET A LIFE. TREND Thank you for the concern over my social life! I follow 8 biotech companies and know their 'space' relatively well. I have owned all 8 at some point but currently own 4 of those 8 (it was 5 with Mannkind) but still follow these 8 as I think they have a future. Sadly (or happily...) only Mannkind has a message board with historically such high quality posters. I also have no issue with dropping one of those companies if I find it beyond economic repair. I followed Mannkind for 2 years before making a real investment (luckily well timed after the 2nd CRL). I don't need to take shadow positions anymore to be interested. I sold not at the perfect time but at a very profitable cost basis (from my entry point). I am sorry if you lost money but don't take it out on me. If I'm still here it is because I haven't given up on Mannkind as an investible company. If I had I wouldn't bother. On the other hand I do have to admit reading this board as a non invested individual has been highly educational for how we all react (invested and not invested) to news and price cycles. Maybe it's a sort of post 'flawed investment thesis analysis' as much as trying to figure out if Mannkind is still a potential investment? I have learnt more from this board about markets and market psychology (including myself) than in years of investing. I am very grateful. Sadly I know you are right and these boards are by definition only for longs and until I get with the program again I should probably simply stay away or at least stop commenting. Thank you all for a wonderful experience. JPG jpg, Sorry, I didn't mean to address your social life but I just don't buy your story. Why would you be questionning Al Mann's financial condition? Why would you worry if Matt is fired? Is it your soft bashing hidden agenda? It's one thing to read the board and gain knowledge but to post as often as you do (24 in the last 2 days) with no stated financial interest (long or short) with a negative slant just doesn't make sense to me. Oh, and I haven't lost money, I'm in at less than $2.00. It's a little off topic but I was wondering what you do for a living? Trend |
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Post by trenddiver on Nov 24, 2015 2:24:26 GMT -5
If Matt were to resign, I'd back up the truck and buy, buy, buy. I personally hold Matt responsible for the horrible financial shape that the company is in. Trend If Matt were to resign I would be very nervous for the future of the company. Not because he is leaving but why is he leaving? And does Mann really have that much money left or is he much much poorer than he once was and can't bankroll Mannkind more than 30 some million? If he's leaving, it's because Al has seen the light and has realized that he and the company have been poorly served with Matt as the CFO. Al was a multi-billionaire before Mannkind and still is. And I suggest you stop worrying the company's finances. You own no shares so you have nothing to lose. I'm just perplexed that someone with no financial interest would be spending so much time on this board. GET A LIFE. TREND |
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Post by trenddiver on Nov 24, 2015 2:15:16 GMT -5
What are you talking about? What interest is he supposed to accommodate? Don't underestimate Al, he has huge firepower ($3 billion) he chooses to use it. The truth is that I am not sure what I am talking about. Too many things do not seem to fit and to much speculation flies around. In my opinion there is only one reason for the level of obscurity in Mannkinds doings and it has nothing to do with competitive reasons. It would seem to me, although I could be easily wrong, that it is all to outsmart the shorts or whoever Al Mann is having this chess game with. I also doubt all this is in the best interest of shareholders, but time will tell. I am the kind of guy that is always willing to accept that I when I am wrong, so will not be entrenched in any one position. Evening, I'm afraid you've lost it. Mannkind got spanked pretty hard for talking to much, so the pendulum has swung the other way. And the agreement with Sanofi has strong non-disclosure language so I think Mannkind is being overly cautious. They also have their own intellectual property concerns related to Technosphere. But as to outsmarting the shorts, you are way off base. Although Al would certainly like make the shorts pay, he is an entrepreneur and businessman first, and that is where his focus will be. Trend |
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- dark-side pessimists like myself enjoy helping to drag others down with us! 
