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Post by mindovermatter on Dec 29, 2015 15:11:36 GMT -5
So, perhaps he's not the lump of coal as characterized by our short friends?  From someone who has seen management changes, don't be so quick to assume he'll have the same success at Mannkind that he did at Insulet. One has to keep in mind the culture and atmosphere of the company. What might have worked at one company might not work at another. Read more: mnkd.proboards.com/posts/recent#ixzz3vk6Bk45m |
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Post by mindovermatter on Dec 29, 2015 7:06:56 GMT -5
My dream application is every time you inhale on a dreamboat, MNKD stock goes up in price. How awesome would that be? My next one would be some drug to stop my wife from nagging me about my investment in this stock.
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Post by mindovermatter on Dec 28, 2015 13:51:39 GMT -5
As the Reginald Denny once said, "can't we all just get along" :-) Dear Duane, Please make yourself and all of us Longs (who are underwater) all of our money back and then some! Frezz Army reporting for duty! Happy New Year to all Longs Reginald Denny didn't say that. Rodney King did. One could argue that MNKD long investors are Reginald Denny and the shorts are the thug with the cinder block constantly beating us over the head with it. |
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Post by mindovermatter on Dec 28, 2015 9:24:44 GMT -5
I noticed that the Press Release seems to purposely leave out the name of the partner entity that really is in charge of commercializing Afrezza. Working "with the Board and leadership team to help Afrezza...". Al Mann says "we seek to enhance the commercial opportunity for Afrezza". Again, no mention of SNY or working with SNY. First, SNY snubs Afrezza at their Meet Management" call, then again in their annual shareholder letter. Now, MNKD snubs SNY in their CEO announcement. Am I just paranoid, or does it seem like this partnership is off kilter? Add in the flat scripts, the silence regarding a superiority study, the "rumor" heard and voiced by Dr. Pettus of TCOYD regarding SNY taking it off the market.....something with this partnership just doesn't seem right. Lucky for the shareholders of Zealand Pharma and/or Regeneron that they don't have to rationalize why silence from their partner, SNY, is nothing to worry about. One thing you can see from Al's history, if he's not satisfied with a partner or acquirer, he will act - just look up what happened after Al sold Advanced Bionics to BSX. He ended up fighting them in Federal Court, then bought the company back and later sold it to another acquirer, Sonova. Sorry for the downbeat tone of this post, but all the secrecy and lack of progress just plays right into the hands of the shorts. I'm hopeful the new CEO will greatly improve communications to deserving shareholders, and let us in on the plan to succeed. Ultimately, Afrezza really is too good to fail. Interesting observation that I didn't notice. You might be on to something. Not a word about Sanofi in the PR. |
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Post by mindovermatter on Dec 28, 2015 9:20:38 GMT -5
Won't work. Prisoners will find a way to make a shiv out of the Dreamboat.
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Post by mindovermatter on Dec 27, 2015 8:53:35 GMT -5
It may happen soon but the large delay tells me that demand is not great. I agree that MNKD will receive a technology fee but it will not put a dent into the cash flow. I would agree with you on your point of "demand is not great" if Sanofi had conducted a robust nation wide ad campaign pushing Afrezza and still no one had an interest. Sanofi hasn't done that. It appears Sanofi has been extra cautious and has deliberately narrowed their marketing efforts on purpose. Many, including doctors, are not aware of Afrezza even after almost a year of it being on the market. That's certainly is not an indication of weak demand. So chalk it up to limited marketing/awareness or complete incompetence. I believe it's a mix of both of those from Sanofi. |
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Post by mindovermatter on Dec 26, 2015 14:29:55 GMT -5
Dilution makes little sense at $1.50. I can't imaging there would be many new buyers anyway. I would hope (yes the "hope" word), that MNKD sells Afrezza to SNY and focuses on TS or they have a rabbit waiting to be pulled out of a hat. Dilution is suicide at $1.50. It won't happen. There has been enough money raised to last through 2016. By then, sp won't be an issue. Never say never. A year ago, had I been a member and posted that MNKD would be trading at $1.50 and would barely be able to maintain a 350 a week Nrx rate by December 2015, many on here would have hurled names at me and called me one of those FUDdy duddy guys. As much as I hate to say it, but the shorts were right. They have successfully brought the share price down. It also didn't help that Sanofi and Mannkind have so far been unable to build up any momentum for the drug in the diabetic community. The problem is that picture that is painted on message boards typically do not mirror what reality is. Mannkind will have to look at all its options as the company clearly need money going past 2016. If that means diluting at a crappy share price then they will. The bigger problem is whether or not there is anyone who will buy the shares. Let us all kneel and pray the new CEO can turn this ship around and sail it out of harms way and into calmer and profitable seas. |
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Post by mindovermatter on Dec 24, 2015 15:15:49 GMT -5
DeSisto wouldn't come out of retirement to join if he didn't think there is a tremendous upside potential. Under his stewardship, PODD appreciated significantly during 2003 to 2014. IMHO, we bottomed out at $1.5. The new CEO starts a new dawn of prosperity. What better way than starting him at rock bottom, there is nowhere to go but up. The co positions him at an optimal time to ensure his eventual success. Can you guess what comes next? David Kliff doesn't have kind words for DeSisto. www.forbes.com/sites/greatspeculations/2015/12/24/mannkind-gets-ol-lump-of-coal-for-new-ceo-at-critical-time/2/ |
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Post by mindovermatter on Dec 24, 2015 12:20:08 GMT -5
1. Sanofi partnership remains STRONG, going full tilt in 1Q16. I unequivocally believe the death of the partnership has been greatly exaggerated. You can stop doubting it now. For non-believers, you can write off for tax now if it makes you sleep better. But if you are still in, absolutely don't lose sleep over it. 2. Pain mgmt partnership being guided actively by CMO 3. Questions on cash on balance sheet will be addressed in 4Q15 Feb ER CC(had a typo).
4. New CEO most likely TBA 1Q16.5. PAH: Working on selecting an optimal, commercially viable API Giving credit here to lakers--though announced 12/23, to take effect 1/5. Now awaiting any news on the other 4. (in this order 1,3,2,5) Well, I wouldn't. He was wrong on the timing. CEO was named in 4thQ of 2015. |
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Post by mindovermatter on Dec 24, 2015 5:10:23 GMT -5
I'm thrilled with this hire. An experienced and connected industry veteran who chose this opportunity, who doesn't need the job or salary. Took his last company from a $2 stock startup nobody to $50 a share by elbowing their way into a space dominated by powerful established firms. Damn good hire! Let's rock and roll in 2016 MNKD! How do you know he doesn't need the job or money? Did you hack into his bank account and bribe his accountant into telling you his finances? He could have easily lost all of his savings by, dare I say, investing in Mannkind and Kalobio! |
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Post by mindovermatter on Dec 23, 2015 18:02:05 GMT -5
I'm indifferent to this. I don't know much about him so I'll reserve judgment until we've seen how he does things. I will share the views of others in the belief that we needed a younger, more dynamic CEO, more leveraged into a drug development background as opposed to a medical device one. Not to say that he can't get it done, but with MNKDs pipeline and TS application, we aren't into devices, but rather drugs. They should really hire a couple of young PR executives too to improve Afrezza's public image and better communicate with shareholders and the public. But, one piece at a time. Good news that we have a CEO. Not sure he'll right the ship but I HOPE he does Merry Christmas all. I'm not disappointed. But I am not excited. I am only glad they found someone who at least has run a company before and knows the diabetic space. He obviously gave the BOD and Al a good pitch as to where he'd like to take the company. Otherwise, they wouldn't have offered him the job. |
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Post by mindovermatter on Dec 23, 2015 17:57:59 GMT -5
I was hoping for someone younger and more dynamic that knew how to use social media to communicate with shareholders. Not somebody coming out of retirement. Could be you have to apply the old adage of "beggars can't be choosers." The quickness of the hire probably tells me he was their first choice but what do i know? He knows the industry and hopefully will help revive Mannkind. |
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Post by mindovermatter on Dec 23, 2015 17:40:35 GMT -5
He came out of retirement to take the position. |
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Post by mindovermatter on Dec 23, 2015 17:32:46 GMT -5
MannKind Announces Appointment of Duane DeSisto as Chief Executive Officer VALENCIA, Calif., Dec. 23, 2015 (GLOBE NEWSWIRE) -- MannKind Corporation (NASDAQ:MNKD) and (TASE:MNKD) today announced the appointment of Duane M. DeSisto as its President and Chief Executive Officer, effective January 5, 2016, replacing Alfred Mann who has served as interim CEO since November 19, 2015. Mr. DeSisto was also appointed to fill an existing vacancy on the board of directors, effective January 5, 2016. Previously, Mr. DeSisto served as the Chief Executive Officer and President of Insulet Corporation, a medical device company, from 2003 to 2014. From 2002 to 2003, he served as the President, Chief Financial Officer and Acting Chief Executive Officer of Insulet Corporation and, from 2001 to 2002, he served as the Chief Financial Officer and Treasurer of Insulet Corporation. "Duane is a respected industry veteran with a strong track record of developing and commercializing disruptive technology for the management of diabetes," said Alfred Mann, Executive Chairman of MannKind. "Duane's experience will be instrumental as we seek to enhance the commercial opportunity for Afrezza® and pursue additional product opportunities within our pipeline. We are excited to welcome Duane to the team and look forward to his leadership." "I am thrilled to be joining MannKind and I look forward to working with the Board and leadership team to help Afrezza realize its full potential," said Mr. DeSisto. "MannKind has world-class pharmaceutical technology that has the potential to address a large number of unmet medical needs, and I am excited by the opportunities at MannKind for creating significant value for our shareholders." From 1999 to 2001, Mr. DeSisto served in various positions at PaperExchange.com, Inc., a business solutions provider for the pulp and paper industry, including as President, Chief Executive Officer and Chief Financial officer. From 1995 to 1999, Mr. DeSisto served as the Chief Financial Officer of FGX International Holdings Limited (formerly AAI-Foster Grant, Inc.), an accessories wholesaler, where he had overall responsibility for the accounting, information technology and human resource departments. From 1986 to 1995, Mr. DeSisto served as the chief financial officer of ZOLL Medical Corporation, a medical device company specializing in noninvasive resuscitation devices and related software solutions. Mr. DeSisto earned a Bachelor of Science from Providence College and a Master of Business Administration from Bryant College. About MannKind Corporation MannKind Corporation (Nasdaq:MNKD) and (TASE:MNKD) focuses on the discovery and development of therapeutic products for patients with diseases such as diabetes. MannKind maintains a website at www.mannkindcorp.com to which MannKind regularly posts copies of its press releases as well as additional information about MannKind. Interested persons can subscribe on the MannKind website to e-mail alerts that are sent automatically when MannKind issues press releases, files its reports with the Securities and Exchange Commission or posts certain other information to the website. Forward-Looking Statements This press release contains forward-looking statements that involve risks and uncertainties, including statements regarding Mr. DeSisto's expected contributions to MannKind, the potential of Afrezza and MannKind's technology platform and MannKind's future development plans. Words such as "believes", "anticipates", "plans", "expects", "intend", "will", "goal", "potential" and similar expressions are intended to identify forward-looking statements. These forward-looking statements are based upon the MannKind's current expectations. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of these risks and uncertainties, which include, without limitation, MannKind's dependency on Sanofi for commercialization of Afrezza, need and ability to raise additional capital and other risks detailed in MannKind's filings with the Securities and Exchange Commission, including the Annual Report on Form 10-K for the year ended December 31, 2014 and the Quarterly Report on Form 10-Q for the quarter ended September 30, 2015. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. All forward-looking statements are qualified in their entirety by this cautionary statement, and MannKind undertakes no obligation to revise or update any forward-looking statements to reflect events or circumstances after the date of this press release. Company Contact: Matthew J. Pfeffer Chief Financial Officer 661-775-5300 mpfeffer@mannkindcorp.com |
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Post by mindovermatter on Dec 23, 2015 14:24:27 GMT -5
www.wsj.com/articles/the-good-the-bad-and-the-shkreli-1450829001“He stayed there two weeks, dismayed at its ferocious indifference to the drums of his destiny, to destiny itself, and despising the janitor’s work with which he was to pay his way through.” —F. Scott Fitzgerald, on the brief college career of his title character in “The Great Gatsby.” “My parents were immigrants and janitors. [Trump] inherited wealth! [Expletive] him. And I thought we could be friends.” — Martin Shkreli, disgraced pharmaceutical CEO, quoted in Vanity Fair. Martin Shkreli, the wunderkind and bad boy of pharmaceuticals who was arrested last week, takes exception to the term Ponzi scheme, and no wonder. If the government charges are correct, his story goes like this: In his 20s, he raised a few million dollars from acquaintances and tried to become a hedge-fund impresario but almost instantly lost their money and then lied to his investors about it. Thereupon he created what appears to have been a successful pharmaceutical company from which he allegedly illegally transferred cash and shares to placate his previous investors. When the company understandably fired him and sued over these actions, he created a second apparently successful drug company. The first company, Retrophin, even after the controversy and bad headlines of the past week, is still worth $730 million in the market, a large multiple of his alleged hedge-fund losses. The second company, Turing Pharmaceuticals, is not publicly traded but owns lucrative drug rights and apparently continues to realize profitable sales. Awkward questions naturally come up. Going by Retrophin’s private lawsuit against Mr. Shkreli, its former CEO, which gives names and dates, he wasn’t exactly operating behind a veil. Some of his investors are fairly prominent names whose make-good for their hedge-fund losses allegedly came in the form of “sham consulting agreements” that Mr. Shkreli provided through his company Retrophin. Will these investors soon be hearing a federal knock on the door? Even as Retrophin was firing him for alleged fraud, it struck a deal to let him take some of its drugs under development. Hmm. And despite the swirling complaints that followed him from his hedge funds and Retrophin, Mr. Shkreli claimed he raised $90 million for his new company, Turing. At least $55 million of this money apparently was real: He bought the U.S. rights to Daraprim, the aging, off-patent drug that made him a near-household name (not in a good way) months before any federal indictment surfaced. Unknowable at this point is whether any of Mr. Shkreli’s apparently creditable designs on new-drug development will ever pay off. Multiple industry executives, investors and drug scientists have spoken of what one called the untrained 32-year-old’s “humbling” insights into biopharmacology. We’ll have to see. Meanwhile, undoubtedly due to his urgent need for money to silence his irate hedge-fund investors, his immediate strategy at both Retrophin and Turing was to acquire the rights to old drugs and jack up the prices. Voilà, in an election year, a passport to infamy. Off-patent drugs that treat rare conditions are evidently extortionate price hikes waiting to happen. Any generic copycat would have to pass through the FDA’s complicated, expensive approval rigmarole, which isn’t worthwhile for a drug that treats a small population. Let’s not deceive anyone. Established companies like Valeant, Questcor, Rodelis, Merck, Pfizer and others also hike prices. Indeed, every seller of a medical good or service charges what the market will bear in a system where market discipline is attenuated and distorted by third-party payership. Mr. Shkreli’s story, furthermore, wouldn’t be possible without a drug-approval system that vastly inflates the cost and undermines the incentive to create new drugs. At the same time, it also wouldn’t be possible without the not-unattractive fact that, in what remains a fairly free society, anybody can hang out a shingle as an investment manager for “accredited investors,” i.e., people with enough money that they’re assumed to know what they’re doing. Finally, his story wouldn’t be possible without the enormous excitement and promise of genetic medicine, about which Mr. Shkreli seems to have acquired genuine expertise even while allegedly committing the remarkable litany of frauds detailed in the government’s complaint. For instance, Mr. Shkreli may well have been onto something with respect to new treatments for certain genetically based neurodegenerative diseases. It all brings to mind the Chinese Communist Party’s labored verdict in the 1980s that Mao was 70% good and 30% bad. Maybe the CCP can lend us expertise to differentiate the good Mr. Shkreli from the bad.
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