August 12, 2008 |
Biotechnology company MannKind Corp. reported a deeper second-quarter loss as the company faced higher research and development costs. MannKind reported a loss of $79.8 million, or 79 cents a share, compared with a loss of $72 million, or 98 cents, a year earlier. The company recorded no revenue during the quarter. Analysts polled by Thomson Financial expected a loss of 74 cents a share on no revenue. MannKind is developing diabetes and cancer treatments. Its lead product, the Technosphere Insulin System, is in three late-stage clinical trials.
August 10, 2007 |
Biopharmaceutical company MannKind Corp. said its second-quarter loss widened on higher research and development costs. MannKind lost of $72 million, or 98 cents a share, compared with a loss of $54.8 million, or $1.10, a year earlier. The company posted no revenue for the quarter in either year. Analysts polled by Thomson Financial had expected a loss of $1.05 a share on no revenue. Research and development costs rose 36% to $61.5 million.
May 5, 2009 |
Valencia biotechnology company MannKind Corp. posted a smaller loss in the first quarter as expenses fell. The company said it lost $59.4 million, or 58 cents a share, an improvement over its loss of $71.4 million, or 70 cents, a year earlier. It reported no revenue for the quarter, versus $20,000 in revenue a year earlier. Analysts surveyed by Thomson Reuters were expecting a loss of 66 cents a share, with no revenue. The company, which is developing a rapid-acting insulin called Afresa, said it scaled back research-and-development spending by $15.6 million, to $42.9 million, as it shifts from developing the new insulin to getting it ready for commercial use. The company said it submitted a new drug application to the Food and Drug Administration during the quarter.
December 5, 2008 |
MannKind Corp., the company staking its future on inhaled insulin, said Thursday that its drug didn't cause adverse lung effects in the last studies for U.S. regulatory approval. MannKind shares rose 18 cents, or 6.2%, to $2.91 after the announcement. The Valencia-based company said its Afresa inhaler met its primary goals in its last two human trials.
April 2, 2014 |
MannKind Corp. shares were up nearly 80% Wednesday after the Valencia company said an FDA advisory panel had backed its inhaled diabetes drug that could replace most insulin injections. The panel voted 13-1 to recommend that the FDA approve the drug, Afrezza, for the treatment of Type 1 diabetes and 14-0 to approve it for the more common Type 2 diabetes. The FDA doesn't have to follow the panel's recommendation, but the panel's nod was considered a key hurdle for the company.
June 6, 2007 |
MannKind Corp. agreed Tuesday to settle a suit brought by a former executive who claimed the Valencia-based pharmaceutical company fired him after he alleged that misleading scientific data had been given to federal regulators. A Los Angeles County Superior Court jury was dismissed after less than three days of deliberations in the wrongful termination case brought by Wayman Wendell Cheatham, MannKind's former vice president of medical and regulatory affairs.