Here we go once again

Here we go once again

This morning MannKind (NASDAQ:MNKD) issued not one, not two but three press releases touting the results of two Phase 3 clinical studies of Afrezza® . According to one of three releases;

“Highlights of Study 171

In patients with type 1 diabetes, AFREZZA, compared to insulin aspart, showed:

  • Non-inferior decreases in A1c levels;
  • Significantly less hypoglycemia;
  • Significant decreases in fasting blood glucose levels; and
  • Significant weight advantage.

In addition, the changes in pulmonary function observed in the AFREZZA-Gen2 group were no different than those observed in an AFREZZA treatment group that utilized MannKind’s first-generation (MedTone) inhaler.

Highlights of Study 175

In patients with type 2 diabetes treated with oral therapy, AFREZZA, compared to oral therapy alone, showed:

  • Superior reductions in A1c levels;
  • Significantly more patients reached A1c target levels;
  • Reduced postprandial glucose excursions; and
  • No significant difference in the incidence of severe hypoglycemia.

These preliminary results are subject to further analysis. More detailed preliminary results are included in separate releases that accompany this announcement. “

Although it’s early shares of MannKind are already up big today and will likely climb through the day as investors still believe inhaled insulin is the end all be all. Now Diabetic Investor doesn’t want to rain on MannKind’s parade however it should be noted that MannKind has been down this road before as the company seems to have more lives than Felix the Cat. And you can bet your last dollar that during the company’s conference call this afternoon to review these studies, company founder and benefactor Al Mann will extoll the virtues of Afrezza, a drug which he believes is faster than speeding bullet and can leap tall buildings in single bound.

Surly this news will provide fuel to the fire over who will partner/acquire MannKind rumors. Yes for years we’ve been hearing with great consistency how MannKind is oh so close to having a partner. That they are talking to everyone and news about a partner will be coming anytime now. We have heard this for so long we no longer need to listen to conference calls. Take it to the bank these rumors will get hot and heavy with this latest news and the company will do nothing but encourage them, frankly it’s part of MannKind’s DNA.

Just to be clear here Diabetic Investor does not believe Afrezza is bad insulin or that the product if it ever gets approved does not have a place in the market.  We just don’t believe the hysteria that Afrezza is a multi-billion product that will forever change diabetes management and cure the common cold if one believes the horse manure being spread by the company.  Is there anyone out there who honestly believes that Novo Nordisk (NYSE:NVO), Lilly (NYSE:LLY) or Sanofi (NYSE:SNY) wouldn’t have bought MannKind already if they believed this to be true.

The general feeling among the endo’s Diabetic Investor has spoken with is that Afrezza is a niche product but no one sees the drug becoming the standard of care for insulin using patients. It should send up warning signs that the people who are going nuts over MannKind aren’t people from the diabetes world but MannKind stakeholders who believe every word the company says. If Diabetic Investor didn’t know better these people really aren’t stakeholders more like cult members who see Al Mann as the second coming.

Given this is the wacky world of diabetes where anything can and usually does happen some company will likely come along and partner with or acquire MannKind; proving once again that the greater fool theory is alive and well.