Time to do the right thing

Time to do the right thing

Listening to the MannKind (NASDAQ: MNKD) investor call it’s hard not to let the mind wonder and think aloud that these guys just aren’t going to make it. That the problems they face just can’t be solved. That even if everything and we mean everything fell their way it won’t prevent the inevitable.

It doesn’t help matters any that the company noted that Sanofi (NYSE: SNY) is still in control of Afrezza. That it won’t be until April 5th at the earliest that the company would regain control over Afrezza. To keep it simple this means that the company that no longer wants Afrezza, the company who is no longer committed to Afrezza, the company who screwed this whole thing up remains in control for another month or so, giving them even more time to inflict even more damage. This assumes, of course, that things go as planned and if there is one thing we have learned about Sanofi things never go as planned.

We don’t mean to digress here but we seriously believe that Sanofi management would screw up a winning Powerball ticket.

Frankly we feel for the current MannKind team as the ship continues to take on water and they just can’t bail fast enough. No matter what they say and how optimistic they pretend to be these people know that the ship is sinking. Each day that goes by without a new partner for Afrezza, each day that goes by without getting much needed capital, each day Sanofi remains in control of Afrezza is just one day closer to the end.

Diabetic Investor suspects that at some point, likely sooner than later, that management will say enough already. That even with their best efforts all the king’s horses and all the king’s men cannot put humpty dumpty back together again. That it’s time to stop the suffering let the company die an honorable death and let healing process begin.

The saddest part of this whole fiasco is that Al Mann, the company’s founder and main benefactor is alive to see this. Whatever one thinks of Al, he is a true giant in the diabetes world and has made millions for investors. It’s sad that after all he has done, all the positives that many will remember him for the MannKind disaster. This is not how Diabetic Investor sees it as there are so few giants in this wacky world, so few who truly have understood what it really means to put the patient first. Al did this at MiniMed and tried to do it again at MannKind as in his heart of hearts he knew that patients most of all would benefit from a better short-acting insulin.

Sadly, MannKind has robbed this great man who has done so much for diabetes of the legacy he deserves.  We have heard that Al has not been in the best of health recently and wish him a speedy recovery. Let’s hope that current management of MannKind honors the greatness of the company’s founder and lets the company die an honorable death. We know this is not what Al wanted to see but it is the right thing to do.