Pfizer's Sour Nektar
Ouch - I thought Inhaled meds wouldn't hurt
This past week inhaled medicine device maker Nektar received a blow from Pfizer when licencing rights for Exhubra were returned. Back in January 07 I started building positions to take advantage of what I thought to be a really big market - inhaled meds. Having grown up watching my father inject insulin and dying before his 55th birthday due to 'uncontrolled diabetes' (a rather disrespectful sounding official COD), I've followed the insulin market, quests for cures, and alternative delivery methods for years now. There is something about diabetes and insulin that strikes a cord in some people. For me its the fact that its estimated that 10% of the US population has the disease while only 5% of the population have it diagnosed, that it is manageable disease but somehow is mismanaged, and arguably it's curable. So, this passion led me to trade into shares of companies in this space (NKTR & MNKD). MNKD has found itself also in a world of hurt as their founder has had to pledge an unsecured loan to the company while making another equity investment into the company. The premise of the investment may have been flawed but some how I find myself struggling to fight the temptation to double down (like the MNKD founder just did) rather than walk away....
