The silence is deafening
Well it looks like Insulet (NASDAQ:PODD) isn’t the only diabetes company getting ready to test new lows as shares of MannKind (NASDAQ:MNKD) continue to fall. Now far be it from Diabetic Investor to gloat but we can’t help but wonder what our good friends Ken and Gomer are thinking these days. Based on their past performance every time MannKind shares were headed south our friends would pen a piece that basically said to hang in there. That things will turn around soon and this dip was merely temporary, a buying opportunity.
Yet all we hear from Ken or Gomer is …wait for it …nothing, nada not a pep. Yes no spirited defense of MannKind. Nothing about how Afrezza is the greatest thing to hit diabetes since the invention of insulin. Nothing about how patients who are using Afrezza absolutely love it. How Afrezza is a game changer a for sure blockbuster in the making.
Nor are we hearing much from that loyal group of MannKind zealots who confuse the therapeutics aspects of Afrezza with the business of diabetes. Yep we just love it when these good people keep pointing to the many user reviews that are circulating on social media. Yes these zealots are quick to point to posts from … wait for it .. a group of 7 patients using Afrezza. While we’re delighted these 7 people like Afrezza and we’re thrilled Afrezza is having a positive impact on their diabetes. Still this extremely small sample size is not indicative of the entire diabetes population.
Yet their defense of Afrezza doesn’t stop there as they continue to note that Sanofi (NYSE:SNY) hasn’t begun the direct to consumer advertising campaign. That once this campaign begins it will catapult Afrezza sales into the stratosphere. Well all we can say is this better be the best direct to consumer advertising campaign in the history of diabetes drugs.
We hate to point the obvious but no advertising campaign or social media posts can move Afrezza from its poor formulary position. Nor will it make up for the fact that as good as Afrezza may be it is not for every patient with diabetes. That in spite of what the MannKind zealots believe it is possible for a patient with diabetes to achieve good control without using Afrezza. We realize that last statement is considered ludicrous to these people but they honestly believe every insulin patient should be using Afrezza.
Yes it’s still early but there is no way for these people to run away from the facts. That Afrezza is nothing more than a niche product not the mega-blockbuster they think it is.
Back when our friends Ken and Gomer began their spirited support of MannKind we wondered whether they would man up when things didn’t play out as they said they would. Would they say issue a mea culpa? Well given their silence since shares of MannKind started their most recent dive it’s fair to state that Ken and Gomer are sending a message by their silence. Frankly Diabetic Investor is not surprised by this but we are disappointed.
Now in all fairness, and Diabetic Investor strives to be fair, perhaps Ken and Gomer at this very moment are formulating a response. That they have some new reasons why MannKind stakeholders should hang in. Perhaps our good buddy Serge has reached out to them and said something like; “Come on boys we really need your help as Kliff is just killing us. Heck we know we should have never partnered with MannKind but after three bottles of wine it looked like a great idea. Yea I know that other than Lantus we haven’t done anything right in diabetes. And yes I know our diabetes franchise is circling the bowl. But come on how about a little help, how about doing me a solid.”
So in the interest of fairness we will await to hear from Ken and Gomer. Yet at the moment their silence is deafening.