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Post by kc on Apr 24, 2017 19:51:59 GMT -5
No I would not. But people are getting scripts, having good results, and then their insurance is saying no. You have to take another meal time first. ( Like they haven't already been doing that for years!) so if this is true, i'm afraid the company is fighting a fight they can't win. Insurance changes take a very long time, something we don't have. The company needs to be sold in its entirety or 50% to a strategic operating partner (somebody who will run and manage the company) with enough cash and patience to monetize Afrezza properly. The product is a winner but if you don't have money to survive you will go bankrupt and nobody wins. Hopefully the board of directors is not that blind or stupid to see this situation. MannKind will not survive without 200 million in capital to have a 2 year marketing runway. It does not take a Wharton MBA to figure this out.
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Post by kc on Apr 24, 2017 19:24:35 GMT -5
Here is my take of this Deerfield debt restructuring. My thinking is that the whole purpose for this restructuring is for Deerfield to take a 5% stake in Mannkind right now. a. The main purpose is not to extend Mannkind’s cash runway. Mannkind is to repay $4 million (out of the total of $5 million) of the notes that is due in May. If the main purpose is to extend the cash runway, the whole $5 million of May notes should be swapped for equity. But it is not the case, only $1 million of the May notes is swapped for equity. b. Why only $1 million of the May notes is swapped for equity? Deerfield control over $100 million of the notes. By swapping only $1 million of the May notes for equity, plus $5 million of the July notes for equity, Deerfield is basically swapping about 1/16 of the Tranche B notes and the other notes that Deerfield controls. So this probably is mainly due to Deerfield wants to allocate the shares to different tranches of note holders on a more pro rata basis. c. Why Deerfield chooses to swap $6 million of the notes and leave another $10 million of the July notes un-swapped? I think this is because $6 million of the notes translates to about 5 million shares at current share price and gives Deerfield 5% stake. d. Why Deerfield chooses to take only 5% stake (not a bigger stake)? One of the reasons could be that Mannkind and Mann Trust may only want Deerfield to take 5% at this time. The other reason could be that Deerfield just wants to take a 5% right now. e. What does this suggest? It at least suggests that Deerfield at this stage wants to assert some control (in addition to its rights as the main debt holder) that a major shareholder has and wants to send a public message out that it now owns a major stake in Mannkind (as it has to file for such ownership). Below is what I stated last week when they converted the debt to shares. Deerfield knows the value of the company and why would he sell it out short if he thinks he can get a big payday if he can get MannKind turned around. This guy might be our activist investor. He has a lot to lose and he wants to make some big bucks. Watch more of the debt converted to shares. Once he gets 10% he might ask for a board position. You never know if that is not already planed even knowing that the Shareholders Meeting documents showed re-election of the current incumbent directors. He appears to be friendly today but he might get more aggressive and push for the sale of the company. If Flynn believes that Afrezza will be a winner he will stick it out for the HOMERUN. He will not cut and run. But who knows other than Flynn. My comments from last week: Maybe he will eventually ask for a board seat and become an activist investor. You can bet that with a 5.1% interest he will want to see a return and perhaps push or help the company to make a sale. I view this all as being positive. Have to do the research on other deals Flynn has been involved in. Deerfield Management, managed by James E. Flynn since 2000, is a healthcare focused investment company that specializes in funding R&D, managing hostile takeovers, corporate transitions and financial advisory services. Deerfield Management oversees $3.5 billion in assets. Read more at www.insidermonkey.com/hedge-fund/deerfield+management/408/#DxSlo4jADmByZ6bp.99Remember Flynn wants to win with MannKind... www.fiercebiotech.com/special-report/deerfield-managementwww.bloomberg.com/research/stocks/private/person.asp?personId=8002481&privcapId=3751585Background Mr. James Edward Flynn, also known as Jim, has been a Partner of Deerfield Management Company, L.P. since February 2000 and serves as its President. Mr. Flynn served as a Managing Director of the equity research department at ING Baring Furman Selz from 1996 to February 2000, a Vice President of Corporate Developmennt at Alpharma Inc., a pharmaceutical company, from 1993 to 1995, and a Senior Vice President of Equity Research at Kidder, Peabody & Co., an investment banking firm from 1988 to 1993. Mr. Flynn was an Equity Analyst of Kidder Peabody Group Inc., Research Division and ING Groep N.V., Research Division. He serves as a Trustee of Mount Sinai Beth Israel. He serves as a Trustee of Continuum Health Partners, Inc., Beth Israel Medical Center and St Luke's-Roosevelt Hospital Center. He serves as a Director of eCaring LLC. Mr. Flynn attended from University of Michigan in Economics, Cellular Biology and Molecular Biology Read more: mnkd.proboards.com/thread/7610/deal-deerfield-convertible-notes-2019?page=11#ixzz4fDOFi7sg
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Post by kc on Apr 24, 2017 17:26:07 GMT -5
That we've hired an investment bank to explore all options at this time to include selling the company. At least there'd be a morsel of hope that someone will buy us for ,say,$150 Mil and the pain and suffering would be over. It takes at least $1 Billion to get an FDA approved drug. We've got that. And our drug works in spades for those taking it...so someone with some deep pockets has to be interested for a song....or at least you'd think. Cowgirl, I first said this back in January 2016 when the Sanofi termination came up. I believe that a bidding war would happen and they would have gotten at least $15.00 to $20.00 back then. Today It might be a stretch to get even $10.00 post RS. There is value to having a FDA approved drug and they company should consider finding that Strategic operating partner who can help MannKind to Monetize Afrezza before bankruptcy.
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Post by kc on Apr 23, 2017 21:31:50 GMT -5
There are lots of images on Google. Just type in Technosphere inhaler (images). I think you will find on that will be easy to use.
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Post by kc on Apr 22, 2017 5:28:35 GMT -5
sla55 - it's been taken care of. Wow! I feel much better. I made a comment and statement that was off-base about a fellow member Peppy as it was buried in her quoted statement. Thank you liane for correcting and removing The offensive statement
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Post by kc on Apr 21, 2017 21:04:13 GMT -5
Another warning sign missed by me and others is the lack of institutional investors. Most companies that are doing well have more than 75% of their shares held by big institutional investors. Last week I s a figure showing 15% held to day it was about 19% accurate or not? I don't know.
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Post by kc on Apr 21, 2017 14:58:10 GMT -5
THE COMPANY SHOULD BE PUT UP FOR SALE. Hopefully Flynn will do that or is buying more shares as we speak and takes control of the company. WE NEED AN ACTIVIST INVESTOR to shake it up before we are dead. MANNKIND goes bankrupt then there will be no easy way to ever sell Afrezza to Diabetics.
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Post by kc on Apr 20, 2017 17:28:10 GMT -5
Ramen Noodles are good. You can exchange a share of Mannkind for a package.
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Post by kc on Apr 20, 2017 17:01:04 GMT -5
Question: Can Mannkind strike an international deal? Answer : Apparently not.
We are 6 weeks short of 3 years since approval of the worlds ONLY needle-free option in diabetes. Still not even a single pallet has been shipped over seas. That is a big head scratcher for me. I have been careful not to join the management bashers that swarm the blogs and chat rooms, but at the 3 year mark, I'm starting to wonder if someone else could get this done. Whatever the reasons for holding back on international sales in the past, it doesn't work for me anymore. I hope something is actually planned or implemented soon. It just doesn't make any sense not to try.
License to all big international sales organizations for one year. The one who sells the most, gets the global contract. Take your marks, get set, GO!!!!!
I can hear it now. "Oh that's not possible, It's amateurish, Never been done....blah, blah, blah." I don't care what is thought of it if it gets the product out to the populations that need them. Al wanted it out there, I want it out there period. NEED ONE BIG HAIL MARY PASS or it will be over SHORTLY.
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Post by kc on Apr 20, 2017 15:35:19 GMT -5
Last year before I knew they were filming it professionally I used my recorder on my IPHONE and then could down load to drop box. the recorder app will work just fine in your in the first row or two. I sat behind Ken Kresa last year.
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Post by kc on Apr 20, 2017 14:07:54 GMT -5
Raise funds with what kind of collateral? They don't have anything else to pledge. They need to sell the company just somebody who could monetize Afrezza
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Post by kc on Apr 20, 2017 9:48:43 GMT -5
That is the way most of the deals with hedge funds work. They create a short position, buy discounted shares, and deliver the new shares to close out the short. So long as the investor has a bona fide economic risk, either in the same security or a different security issued by the same company, this is considered a hedge instead of a naked short. Deerfield might have been in discussions on how to handle the May payments for a month or two, and could have been short from just after the RS when the price was still north of $2. If so they might have covered their interest coupon for May and made 85 cents a share on the short play. Please, explain the reason for the 13G filing to disclose over 5% ownership and voting rights dated April 19th, 2017, by Deerfield. If they covered, they would not have ownership or voting rights unless it is a timing issue to maintain compliance for a very short period of time. In which case, they would need to file again to check the box in item 5 that they cease to be the beneficial owner of more than 5%. www.sec.gov/Archives/edgar/data/899460/000119380517000660/e616046_sc13g-mannkind.htmSadly I am perhaps naïve and want to believe that Deerfield will become more of an activist investor. Perhaps buying even more shares and pushing the board to action to save the company by selling it. I have said for over 15 months that the company needed to put itself up for sale. I would want to think the board would do this before accepting a bankruptcy that might make future efforts to the drug impossible. The competition is brutal and will use that to make sure Doctor's will not prescribe Afrezza. Bankruptcy will wipe out the common shareholder. Why would Deerfield accept common shares? Sell the immediately our perhaps work for a hostile buy out or activist role in taking over MannKind. We need action now and not after we are dead.
At this time the only way to save the company is a sale of the company to a larger entity that is able to put the capital into monetizing Afrezza. Flynn hopefully will become an activist investor and push the board in the direction of finding a Partner for 50% or greater investment or a buyer of the company. They unfortunately with out a miracle happening probably wont survive. What a humbling and sad learning experience for all of us who believed that Afrezza was the holy grail of Diabetes treatment
Read more: mnkd.proboards.com/thread/7080/volume?page=25&scrollTo=103016#ixzz4enitrjGO
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Post by kc on Apr 20, 2017 9:42:30 GMT -5
well that was awful. 2,293,453 real time shares traded. MNKD $1.12 - 0.1 -8.19% www.nasdaq.com/symbol/mnkd/real-time
There is nothing let to say. The world's best rapid acting insulin, one that doesn't let your glucose go sky high in the first place, is being put out of business because insurance companies will not pay for it and subscribers will not order it. Dosing is the easy part. Dosing subq is the hard part. We can say all we want about labels, we have continuous glucose monitors now, we can see. it is not the insulin, it is the system. What other drug are people showing us the good results and telling us they are happy?
It is a bit insane MNKD is being put out of business.
MNKD is not being put out of business by 'the system', its being put out of business by greedy management. If they are trying to commercialize with very little cash and do it on a shoestring budget, then why haven't they trimmed down to a shoestring budget? They are going on the cheap with reps and commercials and everything else, but they continue to hire overpaid executives and neither they nor the board members have given up any of the big bucks perks they are wasting on themselves. They should have had some financial accountability a long time ago. It looks like once Al died, it was a cash grab for the remaining dollars, instead of let's figure out how to save this company. They should be ashamed of themselves. tisk tisk At this time the only way to save the company is a sale of the company to a larger entity that is able to put the capital into monetizing Afrezza. Flynn hopefully will become an activist investor and push the board in the direction of finding a Partner for 50% or greater investment or a buyer of the company. They unfortunately with out a miracle happening probably wont survive. What a humbling and sad learning experience for all of us who believed that Afrezza was the holy grail of Diabetes treatment.
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Post by kc on Apr 19, 2017 23:10:53 GMT -5
Insulin Management System Market Volume Forecast and Value Chain Analysis 2016-2026 April 19th, 2017
Excerpt:
Insulin Management System Market: Overview
Insulin treatment for Type II diabetes holds largest share due to its high prevalence and also availability of variety and advances in insulin management systems available to treat type II diabetes. Also in comparison to recombinant human Insulin there is greater share for insulin analogues due to its higher efficacy with fast and long lasting effects. Moreover in comparison to painful traditional methods of insulin administration by injections, use of inhaled insulins are expected to have larger share in insulin management system market. Inhaled insulin is easy to administer, fast acting and is eliminated from body in less time. Thus, insulin that is affordable, easy to administer, readily available, fast acting with long lasting effect and quick elimination from body is expected to hold strong position in insulin management system market.
Insulin Management System Market: Regional Overview
Region wise, the global regions in Insulin Management System market is classified into, North America, Latin America, Western and Eastern Europe, Asia-Pacific (excluding Japan) and MEA (Brazil, Argentina, Nigeria, Saudi Arabia & Egypt).
Source: www.medgadget.com/2017/04/insulin-management-system-market-volume-forecast-and-value-chain-analysis-2016-2026.html
- America dominates the global insulin management system market due to higher prevalence of diabetes, high income population and also due to significant patent protection for brands of biosimilar insulin.
- Europe holds second largest insulin management system market due to better distribution network for key players in insulin management system market.
- Asia Pacific and MEA are the fastest growing due to adoption of various advancement in insulin management system. Initiatives taken by government in developing countries to provide better healthcare facilities and easy utilization of insulin management system plays a larger role in increasing market for insulin management systems.
Mannkind is not listed as a key player. Are they expecting one of the BPs to have an inhaled insulin product approved in these markets? Key Player is a company with some market share in the diabetes space. They're not mentioned as they Are not key player.
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Post by kc on Apr 19, 2017 19:00:51 GMT -5
I posted this on the other thread. Maybe he will eventually ask for a board seat and become an activist investor. You can bet that with a 5.1% interest he will want to see a return and perhaps push or help the company to make a sale. I view this all as being positive. Have to do the research on other deals Flynn has been involved in. Deerfield Management, managed by James E. Flynn since 2000, is a healthcare focused investment company that specializes in funding R&D, managing hostile takeovers, corporate transitions and financial advisory services. Deerfield Management oversees $3.5 billion in assets. Read more at www.insidermonkey.com/hedge-fund/deerfield+management/408/#DxSlo4jADmByZ6bp.99Remember Flynn wants to win with MannKind... www.fiercebiotech.com/special-report/deerfield-managementwww.bloomberg.com/research/stocks/private/person.asp?personId=8002481&privcapId=3751585Background Mr. James Edward Flynn, also known as Jim, has been a Partner of Deerfield Management Company, L.P. since February 2000 and serves as its President. Mr. Flynn served as a Managing Director of the equity research department at ING Baring Furman Selz from 1996 to February 2000, a Vice President of Corporate Developmennt at Alpharma Inc., a pharmaceutical company, from 1993 to 1995, and a Senior Vice President of Equity Research at Kidder, Peabody & Co., an investment banking firm from 1988 to 1993. Mr. Flynn was an Equity Analyst of Kidder Peabody Group Inc., Research Division and ING Groep N.V., Research Division. He serves as a Trustee of Mount Sinai Beth Israel. He serves as a Trustee of Continuum Health Partners, Inc., Beth Israel Medical Center and St Luke's-Roosevelt Hospital Center. He serves as a Director of eCaring LLC. Mr. Flynn attended from University of Michigan in Economics, Cellular Biology and Molecular Biology Read more: mnkd.proboards.com/thread/7610/deal-deerfield-convertible-notes-2019?page=5#ixzz4ek8TkSsh
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