"October Warrants" are definitely discussed.

I met this guy at the 2010 annual shareholders meeting in Danbury. He was probably long MNKD and was recommending LEAPS going into the 2nd CRL. I have even seen him commenting on the Yahoo board in the past (don't think it was an imposter). My guess is that he lost money after the 2nd CRL but made it back and then some during our current run up to $8.

I would say that this is just a realistic assessment from a hard headed biotech investor, and it is essentially correct. Where I think more optimistic longs might differ with him is in pricing the long term potential. A hard headed look at TSLA, AMZN, NFLX might have yielded similar pessimism. And let's not even mention the likes of DNDN, which might not have justified $50/share even if it had been widely adopted.

I think RedAcre believes in the science, but not the financing. But this is where Al Mann is definitely the wild card and may make conventional figuring incorrect.

And speaking of that middle eastern country, why doesn't Al-Waleed bin Talal just buy the whole thing? lol