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Earnings Roundup

Loss narrows at MannKind

May 06, 2008|From Times Wire Services

Biotechnology firm MannKind Corp. said its first-quarter loss narrowed on lower research and development costs.

Valencia-based MannKind lost $71.4 million, or 70 cents a share, compared with a loss of $73.1 million, or $1, a year earlier. Revenue rose to $20,000 from $10,000.

Analysts polled by Thomson Financial expected a loss of 79 cents a share, with no revenue.

Research and development expenses fell 8% to $58.4 million, more than offsetting a 15% rise to $15.7 million in general and administrative expenses.

Shares rose 4 cents to $2.55.

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