Jacmar: I will make a couple of comments about MNK

Jacmar: I will make a couple of comments about MNKD and then back to talking of AMBS. SNY reimburses COGS to MNKD and pays ALL marketing costs, regulatory costs, and follow on clinical trials. Do you have any idea how much that is? Large. There was also $150M upfront but there are milestone payments that takes that number to close to $1B. SNY also gave a line of credit to MNKD. SNY runs the show right now. Silence is golden. Breaking through the silence is that almost every insurer in the US is now covering Afrezza. Rumors are that SNY is training week of Jan 19th. Launch should follow very close after. In my opinion, the deal was set up to ensure MNKD existed until launch so they could add manufacturing lines and get the pipeline needed for launch. SNY does not need MNKD after that and my bet is SNY buys Afrezza. Rumors are that MDT may be involved somehow based on the SNY/MDT collaboration announced last year. Launch may not cause the share price to go parabolic because of the short position but it will go up. First hint of demand and price goes nuts. In my opinion, buyout is logical. Technosphere platform is also a factor here. In my opinion, Afrezza is worth minimum $40 per share. If you don't see it then watch it unfold from the sidelines. And, unless you are a doctor, I will forget more about diabetes than you likely know. This drug is a blockbuster. The end. Now let's talk AMBS.