MannKind to Report Trial Results
MannKind reported higher-than-expected losses for its fourth quarter on account of higher charges for modifying the fair value of a contract. Its loss for the quarter stood at 23 cents per share. The company did not report any revenue for the quarter as it still does not have any approved drug in its portfolio. Despite this, the stock is up 7 percent this year and gained 11 percent in the past 12 months. Sign up for the free report on MannKind Corp. at
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MannKind is expected to report the trial results for Afrezza, its ultra rapid insulin drug. The company's fortune depends on the performance of this drug. The results are expected to be released later this year in August. The company is promoted by Alfred Mann, who also acts as its CEO and owns 41 percent of the stock. He has previous track record as a medical entrepreneur and sold his previous venture MiniMed for $3 billion to Medtronic. Alfrezza has been declined twice by the FDA, first in 2010 and second time in 2011. However, this time the company seems to have put all its might behind the drug, which is likely to receive approval on its third attempt.
http://finance.yahoo.com/news/mannkind-ariad-pharma-under-review-130000769.html
