Mannkind’s billionaire CEO, Al Mann, has committed 100% to seeing that Afreeza, Mannkind’s inhaled insulin drug, will be approved.
All indications are that management is totally opposed to any financing that would result in shareholder dilution and now it seems Mr. Mann has switched to where he is now 100% behind a partnership which is expected to be announced within weeks of the meeting with the FDA which is expected to take place in March.
Depending on the terms of the partnership and also who the partner is (Sanofi-Aventis is my choice) and what is covered by the partnership (my choice would be Mannkind's entire pipeline) the share price could easily go to the $10.00-$12.00 range or higher.
A partner that can take advantage of Mannkind's Technosphere Platform would be highly desirable.
HGSI's market cap went to more than $3 billion with Glaxo in the picture.
It's obvious the share price will move higher from here and it's also obvious that there are no reasons for the share price to go lower and numerous reasons for it to go higher.
With more than 20,000,000 shares short the longer the shorts wait to cover the more they'll lose. With a partnership in place and the assistance of a “big pharma” partner to help obtain approval in both the U.S. and Europe the share price will continue to climb over the next 18-24 months especially as the value of the cancer drugs become more apparent.
With a partnership in place and no potential negative events on the immediate horizon to bail out the shorts this will continue higher until Afrezza is approved.