An email from Tim:
You have recently written about the predicted failure of MannKind and its shares. You even used some diabetes "expert" to further your views. But, it seems you failed. The shares have exploded in the last 2 1/2 months. I suspect you have lost a lot of relevance (assuming you had some at some point). $1.75 Billion now.
Tim is correct, MannKind's stock price has increased dramatically.
MannKind's market value is now closer to $2 billion, making the stock even more over-valued than it was three months ago.
Tim mis-labels the speculative bubble in MannKind's market value for confirmation that the company's inhaled insulin product will be a commercial success. Sorry Tim, you've got it all wrong.
I'm certainly not surprised to see MannKind's stock price rise ahead of the Afrezza study results in August. This is a classic run-up, turbo-charged by the biotech bull market and retail investors' cultish adoration for Al Mann.
I called it last April, when I said to expect MannKind shares to trade higher:
Sure enough, the run up into the Afrezza data is under way, with MannKind shares closing in on $4. Enterprise value is now a ridiculously high $1.2 billion. Stupid but no surprise given the retail investor cult still worshiping at the feet of company founder Al Mann.
The MannKind bear thesis stands.
http://www.thestreet.mobi/story/11932328/1/biotech-stock-mailbag-amarin-mannkind-palatin.html?puc=yahoo&cm_ven=YAHOO
