It doesn't appear that any of the insiders or corporate officers bought stock when it tanked in early April. Is anyone else surprised about that? Seems if they know so much about what is really going on, they would have bought all they could at the bottom. Any thoughts?
Hey Butt Heads to commnent on your Insider Trade Comments
Have you ever heard of a Black Period where the Insiders are barred from making trades within a certain amount of days surrounding an announcement? This rule strictly enforced by the SEC and therefore no insider trading during the Black Out Periods.
I am like most of you who bought a few shares of MNKD at $15 and then bought a massive number of shares at $2.21. Right now is an extraordinary opportunity that comes a few times in life. Alfred Mann and his coherts are Top Dawg Class A Management and have a significant amount of experience in bringing these products to life. The best part will be No Competition due to Pfizer's incompetency.
It may be that they have already put enough into it.
It may also be that if they are sitting on material information that they are going to disclose at the ADA meeting(6-10 JUNE), they will not be able to buy.
During the last CC, they mentioned they are in partnership talks surrounding their other drugs in the pipeline. This could also prevent them from buying.
It could be a variety of reasons, but I'm going with what they said is going on. They disclosed a lot of info during their last three CC's. As always, do your own DD and take what I say (and what others say on this board) with a grain of salt!
Also keep in mind that anyone that qualifies as an insider also has a buttload of options. This is typical of startup biotech in order to attract top talent. Employees also are dependant on mnkd for future paychecks. From a diversification standpoint, it simply doesn't make sense for them to add more.