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Message: Annual shareholders meeting

Thanks Brentie for the clarification; I thought you were talking about the quarterly conference call. I still have a few suggestions for questions at the annual meeting (which I am tempted to fly down for). I am not sure of the process that you have to follow in order to ask questions. Collectively, Agoracom mnkd forum members have a substantial number of shares. If need be, we may be able to present the questions on behalf of the interested members.

Here are my questions:

Regarding financing, I would ask “How do you plan on paying back Al’s line of credit that is due January 2014? How does the company plan on financing operations in 2014?”

If the Affinity 1 trial is not completed before the annual meeting, I think some good questions are:

1. How many patients have completed the Affinity 1 trial in its entirety, including follow up visits?

2. How may patients are still in the study that have not dropped or completed the study?

3. What is the expected date for the last patient to finish the trial in its entirety?

4. Same questions for the Affinity 2 trial.

If the Affinity 1 trial is completed, I think some good questions are:

1. Can you comment on the difference in the reduction in A1C levels between the three arms of the trial (Afrezza with the medtone inhaler, Afrezza with the dreamboat inhaler, and insulin aspart)?

2. Can you comment on the number and severity of any episodes of hypoglycemia in the three arms of the study?

3. Where there any safety concerns in any arms of the study?

I would be careful in the phrasing of the questions on trial completion. When Al spoke about the trial in the last conference call, I believe that he included patients that did not complete their follow up visit in the number of patients that completed the trials. When Bob Baughman answered questions on the trial completion he quoted a different number of completed patients with the qualification that they completed the trial in its entirety.

Here is the breakdown from Al Mann and from Bob Baughman from the February 11 conference call.

Al Mann
Affinity 1 - 171 Affinity 2 - 175
Enrolled more than 399 246
Screened 1,402 1,381
Completed as of the week before 2/11/2013 297 167
% of Required that completed 74.4% 67.9%
Bob Baughman
Affinity 1 - 171 Affinity 2 - 175
Completed in its entirety 124
Still in study 173
Required 246
% of Required that completed in entirety 50.4%
Drop rate less than 15%
Number still needed to complete 122
Expected number of additional drops 25.95
expected number of additional completers 147.05
Expected number of excess completers 25.05

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