Mannkind Partnership To Sell Afrezza

Care to explain?

 

Only 3 positins on in NJ

 

We're offers given by managers? Has everyone heard back either way?

 

I heard all offers went out.

 

from nasdaq.com today:

Here are three stocks that have insane valuations.

Let me preface this by saying that biotech companies are hard to value sometimes due to emotions and theoretical peak annual sales coming into play. However, if you ask me, MannKind 's(NASDAQ: MNKD) valuation of more than $565 million (as of its May 9 close) is insane!

MannKind's only approved drug is Afrezza, an inhalable, fast-acting insulin that looked as if it was going to be successful on paper, but has flopped miserably since hitting pharmacy shelves. Sanofi (NYSE: SNY) had previously licensed Afrezza, parting with $325 million in upfront fees and collaborative expenses only to walk away from its licensing deal in January 2016 on account of Afrezza not being an economically viable product.

With or without Sanofi, the MannKind ship appears to be sinking. With no other drugs in its pipeline, MannKind is burning through its remaining cash on hand quickly. Having just reported its first-quarter results, MannKind announced that its cash and cash equivalents are down to $27.7 million. This represents a decline of $31.4 million from the sequential fourth quarter. Furthermore, its loss-sharing agreement for Afrezza with Sanofi jumped $5.5 million in Q1, and now stands at $68.8 million, with $2.8 million in accrued interest. MannKind's only remaining financing options are a $30.1 million line of credit from the Mann Group, and yet another $50 million at-the-market facility that could allow the company to dilute its shareholders by issuing stock. It even dual-listed its stock in Tel Aviv in October and only raised enough money to sustain its cash burn for one quarter!

Meanwhile, Afrezza has yet to crack a few million dollars in worldwide sales in any quarter -- yet MannKind's reduced operating expenses still totaled $20 million in Q1 2016. There simply isn't a viable solution that I can see to get MannKind to profitability before it runs out of financing options. This is one grossly overvalued company, in my opinion.



Read more: http://www.fool.com/investing/general/2016/05/23/there-are-crazy-valuations-and-then-there-are-the.aspx#ixzz49iR6FKHs

 

Have all the offers gone out?

 

I do not know.

 

Has anyone received a formal offer?

 

Offers still going out.

 

how come I didn't get one ??

 

If anyone gets an offer let us know and if it's reasonable or really low. Thanks!!

 

I had a PubTouchpoint Skype interview in February '15 for NEOS Therapeutics contract and I never heard back, not phone or email; I even emailed & phoned the recruiter(left message on voicemail) and never got any kind of response.

So I'm thinking this is how Touchpoint tells their "passed over" candidates to get lost. I know this is the case with CSO's inVentiv Health and QUINTILES.

 

correction to NEOS interview above: I meant February '16 NOT Feb '15

 

The job requires a background check which takes a few working days. So, if they extend offers today, they probably won't reject the "runners up" until their #1 choice has both accepted the offer AND passed the background check. So I'm thinking rejections won't come until late next week.

 

Doesn't the job start 6/6?

 

yup, 6/6 start home study. If you haven't gotten offer by this writing (after 6pm ET), then you got passed over. better luck next time!

And good luck to all who accepted, it's gonna be an uphill Battle Royale !! MKND stock closed today under $1 (12 months ago it was over $7)

 

Yes. Best wishes to all.
Although not impossible, this will truly be the toughest sell you've ever dealt with.

 

a tougher sell? but would be well worth it cos of the difference its bringing to diabetics that try it and impressing their docs

http://www.healthline.com/diabetesmine/afrezza-focus-group-feedback

all you got to do is get one patient per office

and Sanofi set a low bar to beat.. what did they hit 627 - all time high?
and current trx @ 300 with no one selling it?

perhaps i am guy who sees the glass half full..

one big office can take out that 627 in couple of months.. good luck all

 

Hopefully this job will last at least until the end of the year.

 

you might want to re-read article, you've misinterpreted something; there are very real issues with Afrezza and these are the reasons it didn't sell in 2015.

and keep in mind that there must be an immediate massive selling of this product just to keep the company from going bankrupt in the next 60 days. good luck with that.