I think the shorts can be split into at least 3 major camps: 1) those that are betting on another CRL 2) those that believe even if approved, Afezza will suffer the same marketing fate as Exhubera 3) those that have offsetting long positions. Groups 1 and 2 will have a bad day when MNKD signs a marketing agreement w/ a major pharma as this will signal likely approval and substantial marketing resources.