Shorts actually have it easy on biopharmas and NDAs. Most (something like 90%) do not make it through to final approval. If you short everything, 90% of the time, you're going to win. Pretty good odds (for them).

That said, I would strongly argue MNKD is different. We've all done our homework and know it works. We also know what a huge market awaits. Shorts are largely playing the odds and not as deeply knowledgable as we are.