It’s almost over

It’s almost over

Frist a correction as yesterday we mistakenly reported that MannKind (NASDAQ:MNKD) would be reporting earnings yesterday afternoon. Well as it turns out we got ahead of ourselves and they actually report next Monday November 9th at 5pm EST. Sorry about the error but as we noted yesterday we were on vacation and needless to say it was a good one. Yet we digress.

Now that we’re getting back in the game a few things should be said about this upcoming earnings announcement and the how the many MannKind and Afrezza zealots are doing these days. Although it may not seem important the fact that the earnings will be released at 5pm EST after the market closes tells Diabetic Investor not to expect good news.  If the past is any guide, and we think it is, the company reports good news before the market opens and bad news after the market closes.

Another piece of bad news is the health of MannKind founder and benefactor Al Mann. Born in 1925 Al is approaching 90 which is no small accomplishment. Yet according to many who have seen Al his health is failing. We bring this up not to be mean as we truly wish the best for Al and his family. However it is well known that Al has been the driving force behind Afrezza loaning the company nearly a billion dollars. The question we would like to know is what happens to the money owed Al if he’s no longer around.

One would think by now that even the most die-hard MannKind/Afrezza zealots would come to their senses and see things for what they really are – bad and getting worse. That when Sanofi (NYSE:SNY) noted that Afrezza sales were flat for the quarter that these folks would realize this dog just doesn’t hunt. That they would realize that come January Sanofi can and likely will terminate their partnership with MannKind. That Olivier has seen this movie before and does not want Afrezza to cost Sanofi $4 billion as Exubera did with Pfizer. Want even more bad news and there is plenty of it – the company is running out of cash.

Frankly it’s hard to find any positive news for MannKind. That is of course unless you are a MannKind Afrezza zealot, people who have taken the hear no evil speak no evil see no evil concept to levels never seen before. Seriously MannKind could file for bankruptcy and these people would say this is good news. Afrezza could be pulled from the market and they would say this just a temporary setback.

Yet in a sign that these people may be waning in their support for MannKind and Afrezza expect for a few notable idiots for the most part they have stopped coming up with new and creative ways to call Diabetic Investor stupid. That some have begun to realize that perhaps the tooth fairy, Santa Claus, the Easter Bunny and MannKind aren’t real. That it’s possible that Afrezza is what we’ve been stating all along, nothing more than a niche product. That yes even a company as inept as Sanofi is waking up to this fact and as dumb as they have been they aren’t going to bail MannKind out.

The reality is the MannKind/Afrezza/Sanofi Bermuda Triangle is coming to end.  About the only thing left to speculate about is what happens to Afrezza after Sanofi pulls the plug.