Currently holding 3k shares MNKD 5.77 (Size of position about a 2.5 out of normal 10), will average down a bit at 5 if it comes, for possible 3 month play into January FDA decision or unexpected event.

Last week, MNKD annouced that they are ‘going alone’ into FDA decision for their insulin product Afresa.  From the press release:

http://finance.yahoo.com/news/MannKind-says-no-Afresa-apf-1813927444.html?x=0&.v=1

“MannKind said it made progress with a potential partner but decided it would be better to resolve terms of the deal following the FDA’s decision.”

This puts all the risk on MNKD, so naturally, investors dumped the stock, hard.  I believe it’s a buying oppertunity for speculative investors, and here is why:  CEO Al Mann.  Al Mann is a risk taker, and successfull.  His huge sale of MiniMed was brilliant.  In my opinion, which clearly differs from the street right now, is MNKD had a partnership offer from a big pharma and Al Mann thought they could get better terms and decided to go into the FDA decision without them to get it.  Risky?  You bet.  The bottom near?  No idea.

Right now mental stop is $4, looking to add a touch more at $5, hopefully it does not get there, but it could.   Right now MNKD needs to stablize.  FDA decision is less than 3 months away.  If positive, MNKD would be over it’s 52 week high in a blink of a eye, as they would get the best partnership terms imagined.  If negative, Below $2 and new 52 week low.  It’s all or nothing, and something tells me Al Mann would not have it any other way.

Welsh