MannKind Corporation (NASDAQ:MNKD) Declares 2013 2nd Quarter Financial Outcomes


Dallas, Texas 08/27/2013 (Financialstrend) – MannKind Corporation (NASDAQ:MNKD) has made declaration about its financial outcomes for the second quarterly period ended June 30, 2013.

For the three month period ended June 30, 2013, the company’s total operating expenses remained at $41.6 million as against $44.1 million during the same period of 2012, and this showed a decline of $2.5 million.

The company’s research and development (R&D) expenses remained at $27.1 million for the period under review as against $26.6 million during the same period of last year, an augmentation of $0.5 million mainly because of an boost in non-cash stock compensation expense partially counterbalance by a reduction in clinical test related expenditures.

General and administrative (G&A) expenditures decreased around $2.9 million to $14.5 million for the 2nd quarterly period of this year as against $17.4 million during the 2nd quarterly period of last year. This 17 per cent decline in general and administrative expenditure was mainly because of non-cash expenditures of a $7.7 million litigation settlement accrual registered in the same period of last year partially counterbalance by augmented stock compensation expenditure during the 2nd quarterly period of the exiting year.

The net loss applicable to common shareholders for the 2nd quarterly of this year stood at $46.1 million from a net loss pertinent to common shareholders of $36.6 million in the same period of last year. The number of common scrips outstanding during June 30, 2013 remained at 300,869,683.

MannKind Corporation (NASDAQ:MNKD) scrip lost 6.28%

MannKind Corporation (NASDAQ:MNKD) had proved victorious to meet out the situations necessary to obligate the Deerfield Private Design Fund LLP to take over the second portion of 9.75 per cent senior secured Convertible notes for around $40 million. This had been possible mainly because of the firm’s achievement of specified outcomes at the 171 and 175 researches being currently carried out.