MannKind Corporation (NASDAQ:MNKD) continues to chart upward this week. MNKD is holding gains from yesterday and adding another percentage point in afternoon trading. Afrezza, MNKD’s sole product, is garnering some hype across Wall Street even though prescriptions data is pretty choppy.
MNKD has filled 45,670 prescriptions for patients since rolling out the diabetes inhalant product. The company is waiting to secure FDA-approval for an interesting label change, which could boost sales of Afrezza. The label revolves around changing the description for the drug’s rapidity of action seen by patients.
MannKind Corporation (NASDAQ:MNKD) specializes in the discovery and development of therapeutic products for diseases such as diabetes. The company’s flagship product – and the only one that has full FDA approval – is Afrezza, a form of inhaled insulin that helps to control high blood sugar in people with diabetes.
MNKD, is a development stage company, engages in the discovery, development, and commercialization of therapeutic products for the treatment of diabetes and cancer. Its lead investigational product candidate, the Technosphere Insulin System, is in phase III clinical trials in the United States, Europe, and Latin America for the treatment of diabetes. This dry powder therapy consists of Technosphere particles onto which insulin molecules are loaded. These loaded particles are then aerosolized and inhaled into the deep lung using its proprietary MedTone inhaler.
The company is also developing therapies for the treatment of solid tumor cancers. The lead product candidate in this program, MKC1106-PP, which is in phase I clinical trial is intended for the treatment of various solid-tumor cancers, including ovarian, colorectal, pancreatic, renal, breast, and prostate carcinomas and melanoma.
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According to the company, MNKD has shattered the paradigm of diabetes management with Afrezza, the only inhalable insulin that improves glycemic control in adults with diabetes. MannKind also has additional therapeutic products in the pipeline using its dry powder formulation as a drug delivery platform.
Additionally, MNKD has moved its operations to a new area to try to gather new talent. MNKD moved from Valencia, California to be in an area well known for its biopharmaceutical talent and to offer greater convenience to its current employees.
“MannKind is a dynamic, fast-moving and rapidly growing company. To fuel this growth, we need to add more talented people to our team. Moving to Westlake Village, which is proximal to a large number of companies in our industry, will help us attract top talent,” said Michael Castagna, CEO, MannKind Corporation. ”We’re excited to be a member of the Westlake Village and greater Conejo Valley business community.”
MannKind Corporation (NASDAQ:MNKD) has a $237.09M market cap with 104.68M in shares outstanding. The market and traders are clearly interested if a label change will boost the momentum on Afrezza. We are also curious what will happen and will be providing updates as more news comes out. Sign-up for continuing coverage on shares of $MNKD stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!
Disclosure: We hold no position in $MNKD, either long or short, and we have not been compensated for this article.