Inhaled Counseling On The Horizon?
VALENCIA, CALIFORNIA - Shares of MannKind Corp. (MNKD) have plummeted over the past several months even as the company's flagship drug Afrezza has shown promise in treating diabetes with inhaled insulin.
Novel Drug And Delivery Platform Under Siege
Investors in MNKD have had much to gripe about since the underwhelming launch of Afrezza. After receiving FDA approval many believed the stock would soar due to the successful performance of the drug and feedback from early adopters. However, the opposite has been true.
Sensing shareholder distress, MannKind has decided to make a different kind of investment: the company is offering to pay for in-home psychological counseling for investors who have owned the stock for at least three months.
"We see this as a win-win," said newly appointed MannKind CEO Duane DeSisto. "First, it lets us have a better relationship with our investors, and second, it gives us the chance to test our proprietary inhaled psychotherapy with our Technosphere platform."
While the move was unanimously approved by MannKind's board, many investors weren't having it.
Afrezza Fails To Meet Investor Expectations
"That's rich," said Gavin Frezza. "I bought in heavy at $6 per share thinking that this was an absolute steal. When it hit $3, I found my own therapist and started the healing process. Now it's like the band-aid has been ripped off again."
"When I first read that shorts were banging away at the company, I kept thinking there would be an epic short squeeze," said Katherine Baxter. "I watched it all day, every day. I went to the yahoo message boards and found kindred spirits on Stocktwits.com. But the share price kept going lower and lower."
"I've had enough," said Todd Laurier. "I would rather them spend money on finally advertising instead of paying shrinks to come to my house. I'm starting to think the company is run by lunatics!"
Psychotherapy The Answer For MannKind?
In addition to angry investors, the American Psychological Association (APA) was also not pleased with the development.
"Psychotherapy isn't something that can be inhaled," said Alex Shrinker, Head of Community Relations for the APA. "I think people are going to be profoundly disappointed with the results. Diabetes, sure, but therapy? That's not in the scope of reality."
TrendSmasher reports that the plan will provide one session per week with additional sessions available for a fee equivalent to the cost of one share of the battered stock. With news that the deal with Sanofi has been demolished, options for investor hospitalization may be explored.
"I'm excited about this opportunity," stated Dr. Amy Carb-Binge. "MannKind investors have a lot of issues to work through and I'm going to be there for them in their time of need. We're also going to focus on coming to grips with comparisons with Exubera and some of the unpleasant articles from rabble-rousers at The Street."