Hey everyone:

First-time poster. I am long MNKD.

I guess I have two responses to this question. First, I understand the concerns regarding the large number of short shares. We figure that the big money is right. However, as we all know, this is not always the case.

I've been long ARNA since November 2011. I held ALL of my shares through the AdCom and the PDUFA, because I believed that the previous CRL issues would be easily resolved, and that the FDA would grant approval should Belviq meet the required efficacy and safety guidelines. Belviq did indeed put to rest the previous CRL issues, did met the efficacy and safety guidelines, and of course the FDA granted approval despite stern opposition from HFs, Adam Feuerstein and Martin Shkreli. Big money lost.

I see similarities here. I believe Mannkind will resolve the previous CRL issue - likely bioequivalence between MedTone and Dreamboat - and meet efficacy and safety guidelines, and put itself in position for approval.

This is not very comforting as MNKD has already endured two CRL's and anything can happen, but onto my second point.

I think we are in a very unique situation because of the insider trading scandal. The shorts can be short all they want, but at the end of the day, Cheng Yi Liang placed a significant bet on FDA approval and his trading history clearly showed he was always right.

I'm stating the obvious, but this is the ace up our sleeve. Had Liang not been caught, we might have been left in the dark regarding the FDA's stance on Afrezza. Thankfully he was caught and that bit of knowledge seems like a definite blessing this time around.

Sorry for writing so much. I know I'm not stating anything new, but I wanted to provide these two points of assurance.

Billy