MannKind Shares Slide Following Report Of Q4 Losses
The Valencia-based company's stock had already lost about three-fourths of their value over the past 12 months.
The Wall Street Journal:
MannKind Shares Drop On Wider-Than-Expected Loss
Shares of MannKind Corp. on Tuesday slid 10% after the biopharmaceutical firm posted a wider-than-expected loss for the final quarter of the year Monday following the termination of its agreement with its licensing partner for its diabetes treatment Afrezza. MannKind produces Afrezza along with partner Sanofi-Aventis. In January, MannKind announced the termination of its licensing pact in the U.S. for the development and sale of the inhaled insulin product and signaled that it might look to sell the drug. (Steele, 3/15)