More Wackiness Part Two

More Wackiness Part Two

Rarely has Diabetic Investor seen an effort by investors who are long a stock go to extreme lengths to pump the position they are long in. Yet this is exactly what’s happening with shares of MannKind (NASDAQ:MNKD) as Ken and Gomer have found friend in someone who goes by the name Psycho Analyst. Just yesterday Psycho posted an article on the Seeking Alpha web site entitled; “MannKind Investors: Don’t Screw Up The Afrezza Launch”.

Now before we go into just what Psycho had to say here is Psycho’s profile; “I have been analyzing the effectiveness of various pharmaceutical drugs for the past decade. I’ve been quoted in Business Week and my blog has been cited by the Wall Street Journal. I blogged about heart-related problems with Avandia more than a year before the story hit the mainstream press.”

Here is some of what Psycho had to say;

“Investors in MannKind Corp. (NASDAQ:MNKD) are understandably excited about the long-delayed launch of Afrezza, which is now underway, but some worrying patterns are emerging in the way they are behaving in the social media environments that are critical to the success of Afrezza.

Investors have been showing up at diabetes forums where they have never before posted posting messages telling visitors to those forums that they ought to be using Afrezza. Since these investors do not have diabetes, their posts don’t connect with the questions people have posted and to which they were replying and harp on a supposedly miracle-working product, they look like spammers.”

Honestly if this fact wasn’t so sad it would be funny. Yep just what patients with diabetes need more people who know nothing about diabetes telling them how they should managing their diabetes, all because they want to see shares of MannKind rise. Do they have no shame?

But wait it gets better as Psycho has some advice for these people;

“If you don’t have diabetes yourself, stay out of discussions between people with diabetes that you don’t know personally, when they discuss the best way to managing their condition.

If you have friends or family with diabetes, mention Afrezza once or twice and then shut up. Even people with diabetes who aren’t active online are sick of the “helpful” advice they get from friends and neighbors without diabetes, who assure them their very difficult condition could be easily reversed with the use of this or that fashionable supplement or by adopting some extreme and unpleasant diet.”

Psycho concludes by stating;

“Sanofi is explaining the benefits of Afrezza to their doctors, and appear to be doing it very well. Right now we must hope that a significant number of doctors are trying this drug with a few patients to see how well it works. Let’s all hope that it works very well for these patients. If it does, real, not synthetic, word of mouth will get the message out. Investors need to get out of the way to let this happen.”

Now to be fair we do agree with some of what Psycho had to say in particular that these MannKind zealots who care nothing about diabetes and only fattening their wallets should shut the F up.

However were not sure how Psycho or anyone for that matter could make the statement that Sanofi (NYSE:SNY) is doing anything well in diabetes. We’re baffled how Psycho would know that “a significant number of doctors are trying this drug”. Heck Afrezza hasn’t even been on the market two F-ing weeks.

Like most MannKind zealots and Psycho is no different than our good buddies Ken and Gomer, they ignore the many issues facing Afrezza. They ignore a trier 3 formulary status, the black box warning, the extra tests a physician must perform when prescribing Afrezza and the fact that Afrezza is NOT a better short-acting insulin. They continually bash Afrezza detractors as being obsessed with comparing the drug to Exubera. They ignore that shares of MannKind have seen more ups and downs than an elevator in a Chicago high rise. They never mention that even with the Sanofi partnership MannKind isn’t on solid financial footing.

No they drink the kool-aid. They share the belief held by MannKind founder Al Mann that Afrezza is the greatest thing to happen in diabetes since the discovery of insulin. Amazingly they completely ignore Sanofi’s less than stellular track record for any diabetes product not named Lantus. Mention Apidra, iBGStar or Lyxumia to these people and one gets the classic deer in the headlights look of confusion. Ask them why if Afrezza is so great Mr. Mann had to invest almost a billion dollars of his own money and couldn’t find a partner long ago and more silence.

Listen we have no problem with anyone expressing their views on a stock. Nor do we have any issues when these views are backed by solid research and knowledge of a market. And we don’t necessarily have an issue when these views are written anonymously, although one has to wonder if Psycho is such a strong supporter of MannKind and has the market knowledge he claims to have why he wouldn’t let people know who he is. Could it be Psycho is worried that readers might do a little research of their own and find out Psycho really isn’t who he says he is. At minimum readers could at least decide for themselves whether Psycho is credible or actually nothing more than a shameless self-promoter. At least Ken and Gomer are not hiding behind the vail of secrecy.

Diabetic Investor has said it many times any idiot can publish a blog and many have. Being a staunch supporter of a free press and free speech Diabetic Investor supports Psycho’s right to publish. We also believe in the well-known adage  that better to be thought a fool then to open one’s mouth and remove all doubt.

Yet what we want more than anything is for these MannKind zealots who know nothing about diabetes, could care less about patients and only want to fatten their wallets would follow Psycho’s advice and SHUT THE F UP.