October 3, 2007 |
Shares of MannKind Corp., a Valencia-based drug developer that is seeking a partner for its experimental inhaled insulin, posted their biggest gain in almost two months after the firm announced $600 million in new financing. The financing consists of $350 million in added credit and $250 million from the sale of 27 million shares, MannKind said Tuesday. Alfred E.
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.
May 21, 2007 |
If a drug being tested by a small pharmaceutical company in Valencia lives up to its promise, it could revolutionize the treatment of diabetes and spare millions of Americans the pain of daily insulin injections. For MannKind Corp., founded by Beverly Hills billionaire Alfred E. Mann, the financial payoff would be huge. Insulin sales worldwide are about $21 billion annually and growing, and a safe, effective inhaled form would no doubt be wildly popular.
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.
January 19, 2011 |
MannKind Corp. divulged that the Food and Drug Administration has asked for more testing of its key, long-delayed product ? an insulin inhaler for people with diabetes. The Valencia biotech firm said in a statement that Afrezza will require two new clinical trials before U.S. regulators again consider approving the device. Trading of MannKind shares was halted on the Nasdaq exchange before the announcement Wednesday morning. But in after-hours trading, the stock fell more than 40% to $5.25.
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.