Presentation (Part 2)
Here's some more thoughts from that pharma litigator friend of mine. Remember, he sue's companies like this for a living.
Some more issues to consider...
Think about the unique - actually unheard of - financial and management position of this company. Almost every other development stage drug company is constantly in danger of not having enough cash to get even close to the finish line. The ramifications of this are manyfold, obvious and often the biggest hurdles these company's face at every stage of the game. Whatever the naysayers want to say about Al Mann or TI, this simply is not the case with Mannkind.
Not only does Mannkind have a great product, but having the backing of an absolutely comitted multibillionaire is not a small thing here. It is HUGE. (If there is one thing even the "naysayers" can agree on is that Mann will back this company with all or most of what he's got) With Mann's backing, you remove perhaps the most significant obstacle that this company would otherwise face. (Especially in this economic environment)
Further, this has been a major operation, pulled off about as well as one could imagine. Just think, they were competing with several major drug companies - the big boys - in this space. Make no mistake, they all were in it because they saw the absolutely huge potential here. That's how they operate. Mannkind's product is better on so many levels, and the competition knows it and is gone. How this has been spun as a bad thing for Mannkind is beyond me. (Although I do fear these companies launching attacks to disparage this form of treatment now that they've been so soundly beaten. I can't help but be suspicious of the Exubera cancer scare.)
The clinical trials are first class, the science and research behind the product has been stellar - heck, they've even built a 200 million factory!! TI is extremely likley to get FDA approval. What do you think a new, effective APPROVED diabetes treatment is worth???? Diabetes is the fastest growing disease in the world. The market is huge, and last I checked not only were FDA approvals of new treatments very rare, but several treatments that have come on line are in trouble (eg, exubera, byetta, avandia). And all the data shows that TI offers real, significant patient benefit - this is not just some copycat.
Unfortunately, no one I know can explain the stock price or make it go up. I think if we are in, we have to act as patient co-owners of a very promising business. Hopefully, we will look back at the days of people offering to sell us shares under 3 bucks as the deal of the century!!
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