Chris,
I think you are correct; Al would not hesitate to sell MNKD for a price he considers right. He has a very different perspective on the company than any potential buyer is likely willing to swallow, though. I heard a story shortly after the second CRL, when the stock was something like a couple of bucks, that he felt so down, he'd be willing to sell the company for the low teens!!! At that time (and maybe this time, too), I'll just quote Brian Wilson, "wouldn't it be nice!"