Northern, WI 06/18/2013 (usastockreport) – MannKind Corporation (NASDAQ:MNKD) after opening its shares at a price of $7.98 closed at $7.54 for the day. The stock moved on a traded volume of 9.83 million shares in comparison to 8.98 million shares of average trading volume.
MannKind Corporation laid emphasis on the discovering, developing and commercializing of therapeutic products for the patients who are suffering from diabetes. MannKind is in the stage of developing AFREZZA, a mealtime insulin therapy which is beneficial for the treatment of 1 or 2 types diabetes commonly found in adult patients for the control of hyperglycemia. The company has put $930 million of his own money for the development of the said therapy to bring Afrezza to market. Food and Drug Administrator has twice disapproved Afrezza. There are possible chances that the Food and Drug Administration will not approve Afrezza for the third time in a row. But the chances of this scenario seem to be negligible. MannKind has all positive signs lined up for the approval process of the insulin therapy to cure diabetic patients.
Another barrier for MannKind Corporation would be a suitable and efficient partner who can commercialize the insulin Afrezza, assuming that FDA approval is obtained. The company has approached several prospective partners, but nothing is finalized at this point. Due to non-approval of Afrezza twice these prospective customers may pass by without entering into an agreement with MannKind. If MannKind doesn’t secure a partner, the stock has high chances to droop. The company has high chances to earn profit and to gain market over its competitors if the said insulin is approved by the FDA. The company has to take care regarding the approval process as this will be its third time to get an approval for Afrezza.
MannKind’s founder Mr. Al Mann is of the notion that Afrezza could be a turning point for the company’s development.