MannKind Corporation (NASDAQ:MNKD) stock decline by 4.95%

951

Dallas, Texas 08/13/2013 (Financialstrend) – MannKind Corporation (NASDAQ:MNKD) recently announced its financial results for the second quarter which  ended on  June 30, 2013.the company reported total operating expenses of $41.6 million a decrease of $2.5 million when comparing to $44.1 million reported a year ago. an increase of $0.5 million in research and development (R&D) expenses were it raised to $27.1 million from $26.6 million which was reported in the same quarter last year, the raise in research and development (R&D) expenses mainly due to an boost in non-cash stock damages expense moderately compensated by a decline in clinical trial associated expenses.

The company had general and administrative (G&A) expenses of $14.5 million which is decreased compared to $17.4 million of last year. This decrease in general and administrative expense was mainly due to non-cash expenses of a $7.7 million court case payment accrual recorded in the second quarter of 2012 somewhat compensated by improved stock compensation cost in this second quarter. Operating expenses amounted to be $78.0 million, the net loss related to common shareholders was $46.1 million or $0.16 per share compared to $36.6 million or $0.23 per share based on 159.9 million in the same period last year.

There had been a decline of 4.95% in the shares of MannKind Corporation which closed at $7.10 per share after opening at $7.51 for the day. The stock had presented intraday fluctuations on the range intraday low of $7.00 and intraday high of $7.58 per share on Monday. The shares had documented 52 week low at $1.82 and 52 week high at $8.33 per share. There are 290.88 million shares outstanding with a market cap of $2.07 billion and an institutional ownership of 18% of the total capital. The trading volume of MannKind Corporation was 15.45 million shares on Monday and the average volume is at 6.02 million shares per day.

Subscribe to get your free report!

* indicates required
*Past performance is not a predictor of future results. All investing involves risk of loss and individual investments may vary. The examples provided may not be representative of typical results. Your capital is at risk when you invest – you can lose some or all of your money. Never risk more than you can afford to lose.By submitting your information you agree to the terms of our Privacy Policy • Cancel Newsletter Any Time.This is a FREE service from Finacials Trend. Signing up for our FREE daily e-letter also entitles you to receive this report. We will NOT share your email address with anyone.