New CEO Matt Pfeffer spoke at a JP Morgan investor conference last night and pledged that Afrezza is “here to stay. I don’t want anybody, especially our patients out there, to have any questions about that. This is a product that has done tremendous things for an awful lot of people, and we will make this work.”
The company is exploring many possibilities for its transition away from Sanofi, and though Pfeffer has only held the CEO post for a few days (he’s also the CFO), he says the company’s leadership is energized and determined. One thing he mentioned in particular is that Sanofi priced Afrezza too high and success will depend on pricing that attracts patients and insurers. He also said Afrezza is a unique therapy that requires special training and education for physicians and their patients and the company will be working on that.
He said cash burn is improving and current cash on hand will get the company through the middle of the year, while there is further cash “we have line of sight to.”
The company certainly has a long way to go and hopefully has the right leadership to get it there.