Along with other top management changes, this biotech just announced a new CFO today. Steven Binder comes to the company with 25 years’ experience in the healthcare industry.
Top Picks Update
MannKind (MNKD)
From Nate’s Notes
Though shares of MannKind (MNKD) have continued to struggle following a reverse split that was carried out back in March, the company’s lead product, Afrezza (an inhaled form of insulin for both Type-1 and Type-2 diabetics) is continuing to win high praises and gain converts among the small number of patients who have actually heard about it so far.
Up until this point, the company has done virtually no advertising of the product, but this is about to change—thanks to not only the sponsorship of a “reality” TV show (called Reversed) focused on T2 diabetics that is scheduled to air this month—but also due to the much-anticipated launch of an actual TV commercial and advertising campaign for Afrezza.
In addition, the company has filed for a label change on the product that should help drum up additional interest, with the improved label anticipated to be approved by the FDA sometime late in the third quarter.
The company’s Board has also made some significant changes in top management over the past couple of months, including replacing the CEO.
Close to a third of the float of the stock is still sold short on what I believe is a misinformed premise about the efficacy of the drug, and as time goes by, the repurchase of these shares ought to help accelerate the return of the stock to a more realistic valuation. MNKD remains a strong buy under $5 and a buy under $10.
Nate Pile, Nate’s Notes, www.NotWallStreet.com, 707-433-7903, July 14, 2017