Sec requires company's to release Q financial reports no later then 40 days from the last day of the quarter. Mannkind must issue their Q report by August 10th, which happens to be a Sunday. The report will be out no later then Friday August 8th.
Case in point Alfred Mann has been a private banking client at Merrill Lynch for many years and Merrill has been intimately involved in many of Alfred Mann's former business deals selling the company's. I expect Merrill is also working behind the scenes on Mannkind's deal making. More importantly despite being a private banking client at Merrill Lynch, Alfred Mann allowed Mannkind to lend Merrill 9 million shares of stock that Merrill turned around and sold to select clients who hedged short positions against Mannkind. The icing on the cake was seeing a Merrill Lynch analyst come out with a sell rating on Mannkind in September 2013, and issue a price target of $5. If Alfred Mann's personal relationship with Merrill Lynch and business dealings between Merrill Lynch and Mannkind along with a Merrill Lynch Analyst putting out a sell rating on Mannkind stock add up to a conflict of interest, I don't know what does. The big boys and billionaires are going to look out for one another and couldn't care less about the small retail investor.
I appreciate your frustration. I also have a sizable investment in Mannkind and am waiting on partnership news to decide if I am going to remain invested in the company. I have a couple of other company's I am also invested in that I will add to them if Mannkind's partnership news doesn't turn out to be a blockbuster event and/or the deal doesn't guaranty a huge future for Mannkind. I was hoping by now to see the stock price trading in the $ teens by now, but I still have great faith in Afrezza and Technosphere and will wait to see if management delivers a big deal.
Just an opinion. I have no direct information to support the claim just a gut feeling like you said, based on my own DD. I think Roche & Merck are high on the list. Good luck.
Announcement could come anytime between tomorrow and Monday July 28th.
For those that may not be familiar with some of the names:
Cafe Pharma is a message board dedicated for phama sales representatives to have discussions.
Ventiv Inc. is a contract sales organization that big pharma uses to contract out sales jobs.
Thread from the message board surrounds a contract Ventiv has with Merck that sounds like it could be for Afrezza. Here is one comment from a Ventiv Sales Representative that is particularly interesting especially surrounding Sept. 2014 disease state awareness and the Jan. 2015 launch date for the product. Here is the comment:
Today, 10:42 AM
Anonymous Posts: n/a
Default Re: How long is the Merck contract?
Received an offer last week of 67k, this was 8k less than what the recruiter told me. Manager had no room to move and work with me. 2 year contract. Equinox comp car. 18k comp at plan. Launch product in January, start in field building disease state awareness in Sept. From what I was told by the recruiter then told by the hiring manager there were a lot of discrepancies. Have heard of offers going out at 75, but no higher.
rock.... you're free to do what you want, but rest assure I am not being negative and just being very honest with my opinions which include the good and bad I see in Mannkind. If you choose to believe Mannkind's Management is perfect and have no faults good for you, but in my world especially surrounding my investments I don't take everyone I am told as gospel even from someone like Alfred Mann. I wish you well and rest assure I will continue to be me and post what I believe in. Ignore feature on Yahoo is there for a reason and you can hit the button on me and I will not be offended. Good luck.
rock...my goal is to see Mannkind deliver a significant and sustainable move up in the stock price off the risk longs have taken investing in Mannkind and its my opinion Mannkind still hasn't delivered the goods. I am waiting to see what kind of deal they announce and more important where the stock price goes after the announcement and if it continues to go up after tha announcement for a sustainable period of time.
Despite achieving positive Phase III results, unanimous ADCOM vote and FDA approval between July 23, 2013 & July 23, 2014, the stock price is only up 35%.
July 23, 2013 - $7.02 closing stock price
July 23, 2014 - $9.56 closing stock price
Look I am long Mannkind, but they have had 3 days in the sun Phase III results, ADCOM Vote and FDA Approval and unfortunately Mannkind kept itself partially hidden in the shade.
Mismanaged PR has had a held back creating significant shareholder value.
Positive Phase III Results
8/13/13 = $6.86 closing stock price day before the announcement
8/14/13 = $7.59 closing stock price day of the announcement
8/15/13 = $6.64 closing stock price day after announcement
* stock price actually lost value
4/1/14 = $4.02 closing stock price from previous day due to stock being halted for announcement
4/2/14 = $6.99 closing stock price day after announcement
* stock price gain 70%
6/26/14 = $10.58 closing stock price day before announcement
6/27/14 = $10.00 closing stock price day of announcement
6/28/14 = $10.96 closing stock price day after announcement
* no change to stock price
7/23/14 = $9.56 today's closing stock price
What will the stock price look like after partnership is announcement ? Hopefully Mannkind's partnership announcement will come in a new format that is more aggressive and innovative. Hopefully it will be the beginning of a more open policy by the company to communicate more often with greater transparency with the goal of creating and sustaining shareholder value.
Common Al your shareholders have been patiently waiting for a similar move !
Puma Biotechnology, Inc. (PBYI) -NYSE
233.43 Up 174.40(295.44%) 4:00PM EDTA
Prev Close: 59.03
Bid: 233.51 x 200
Ask: 235.00 x 100
Earnings Date: Aug 4 - Aug 11 (Est.)
Day's Range: 212.63 - 241.42
52wk Range: 33.70 - 241.42
Market Cap: 7.03B
The deal may not be all about getting the best buyout share price for shareholders. I expect they will leverage Afrezza to get the best buyout price that will benefit all shareholders including Alfred Mann, but when it comes to Technosphere, I expect Alfred Mann will offer enough cash that he believes shareholders will be satisfied with. If big pharma buys out Afrezza for $20/$25 a share that would net Alfred Mann about $3/$4 billion in cash that he can then turn around to use that money to buy out Mannkind other shareholders for the rights of Technosphere, Shareholders could eventually get a cash payout of of between $20/$25 coming from big pharma and $5/$10 coming from Alfred Mann. I think the only shareholders that will be allowed to get ownership in the newly created privately held Mannkind Development Company would be insiders mainly a handful of senior managers like Pfeffer & Edstrom
The grand deal could have Mannkind shareholders receive a hug cash payment from Big Pharm buying the rights to Mannkind's diabetes franchise including Afrezza & Inhaled GLP-1 and from Alfred Mann creating a new privately held company that will have him buy back the rights for Technosphere, Devices and Drug Pipeline. Alfred Mann may want to keep control of Technosphere's development programs through a privaely held company so he doesn't have to deal with shareholders. He was once asked if he regretted taking Mannkind public and he said the decision had its good and bad points.
She said a press release will be coming out 3 to 4 days announcing the 2Q release date. I also asked her if there was going to be a conference call held to discuss the results the same day and she said that's what they typically do, but to check with the press release. Roberta rushed her answer and she seemed eager to end the call quickly.
We should know over the next 8 trading days including today if Mannkind is going to defer it's 2Q 2014 Financial Results conference call to wait for partnership deal (s) to be officially signed ? A press release will definitely come out during the week of August 4th - August 8th announcing 2Q 2014 Financial Reports, but we still don't know if a conference call will be held the same day to discuss the results. Last year Mannkind deferred its 2Q 2013 Financial Results conference call to wait for Phase III results to host a call. Are they going to do the same thing in 2014, to wait for a partnership deal to be signed ?