Traders News Source has released a comprehensive report on MannKind Corporation (NASDAQ:MNKD), a biopharma entity concentrating its efforts on the discovery and development of distinct therapeutic offerings for ailments such as diabetes. The firm’s only approved offering, Afrezza is a rapid-acting inhaled insulin. It is used to regulate high blood sugar in people with type 1 and type 2 diabetes.
Afrezza obtained regulatory approval from the U.S. FDA in June 2014, and has been accessible by prescription in the U.S. since February 2015. The drug relies on MannKind’s Technosphere technology, a proprietary drug delivery platform that enables for the oral inhalation for numerous therapeutics. The Traders News Source last coverage of company, published September 5, 2017, highlighted Afrezza sales after the cancelation of the Sanofi agreement, the firm’s cash reserves and burn rate. Since that report, the shares have jumped over 184% and there are multiple catalysts that cannot be ignored.
Afrezza is used to enhance glycemic control in adult people with diabetes. The product comprises of a dry powder formulation of insulin (human) that is offered by a small portable inhaler. Administered at the start of a meal, Afrezza dissolves fast upon inhalation to the lung and provides insulin fast to the bloodstream, hitting peak insulin levels within just 12 to 15 minutes of administration.
MannKind management expects that its proprietary Technosphere know-how is a candidate for delivery of several drug compounds. The firm is also looking past Afrezza with several other prospective drugs in its pipeline.
In the last trading session, the stock price of MannKind jumped more than 2% to close the day at $5.42. The gains came at a share volume of 10.12 million compared to average share volume of 11.48 million. After the recent gains, the market cap of firm was noted at around $622 million.