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DBL%20Hendrix%20small.png College chemistry, 1983

Derek Lowe The 2002 Model

Dbl%20new%20portrait%20B%26W.png After 10 years of blogging. . .

Derek Lowe, an Arkansan by birth, got his BA from Hendrix College and his PhD in organic chemistry from Duke before spending time in Germany on a Humboldt Fellowship on his post-doc. He's worked for several major pharmaceutical companies since 1989 on drug discovery projects against schizophrenia, Alzheimer's, diabetes, osteoporosis and other diseases. To contact Derek email him directly: derekb.lowe@gmail.com Twitter: Dereklowe

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In the Pipeline: Don't miss Derek Lowe's excellent commentary on drug discovery and the pharma industry in general at In the Pipeline

In the Pipeline

« Now, That's An Abstract | Main | It's Worth It to Know That There Are Others »

March 2, 2011

MannKind: It's Not Looking Good

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Posted by Derek

Back in August, I noted that Mannkind - who have been developing an inhaled insulin product for many years now - had done a stock-swap deal with Seaside 88. That, I thought, was not a good sign. They're an investment group that I profiled (unfavorably) here, in reference to their dealings with Generex (another spray-insulin company, allegedly working on an oral delivery route).

Adam Feuerstein's the guy who put me on to Generex. (Last I heard, was getting sued by them for his comments, although his opinions seemed to me to be well justified. No updates on that, as far as I know). He's also recently updated the Mannkind situation, and it's not looking good. Last month the company fired about 40% of its workforce, and apparently has about enough cash on its books to make it to the end of the year. Its founder, Al Mann, has plowed a lot of his own money into the company, but on a recent conference call, he declined to say if he's going to put in any more. Mann is a real believer, and has given this his best shot. But it may not be enough.

The class-action suits are already fluttering through the air. And the bubbling tar pit that is spray-delivered insulin continues to churn.

Comments (4) + TrackBacks (0) | Category: Business and Markets | Diabetes and Obesity


COMMENTS

1. johnnyboy on March 2, 2011 1:37 PM writes...

Adam Feuerstein is on my daily 'must-read' list - if there is better reporting out there on the world of biotech investing, i'm not aware of it.

Anyone putting money into inhaled insulin after the Exubera debacle is living in a dreamworld.

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2. Thomas McEntee on March 2, 2011 1:49 PM writes...

I heard their presentation at the TIDES 2010 conference in Boston last year. No mention was made of the first FDA rejection. I was most interested in the fumaryl diketopiperazine-based solid carrier for potential use with other physiologically-active substances.

The class-action suits on behalf of investors are not unexpected. Too bad all the people in the pharma and chem sectors who were _only employees_ prior to being terminated as part of the outsourcing of R&D continues can't initiate a class action suit.

Permalink to Comment

3. prmco on March 3, 2011 7:56 AM writes...

This post is so superficial, outdated and without value, and the mention of Generex is totally gratuitous.

Permalink to Comment

4. Hap on March 3, 2011 9:46 AM writes...

I didn't realize that Generex still had investors.

My condolences to your portfolio.

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