MannKind Corporation (NASDAQ: MNKD) is having an incredibly strong day in the market today, and for good reason. One Drop | Plus has been launched. Of course, we’ll get into why that’s a big deal in a minute. Nonetheless, this launch led to excitement among investors who pushed the stock upward. As is almost always the case, our partners at Trade Ideas were the first to alert us to the gains. At the moment (12:17), MNKD is trading at $1.32 per share after a gain of $0.19 per share (17.12%) thus far today.
MNKD Gains On Global One Drop Launch
One Drop is becoming a leader in diabetes management, and it’s happening quickly, ultimately benefiting not only the company, but MannKind as well. So far, the digital diabetes management platform has 200,000 users worldwide, and that number is expanding quickly.
Today, MNKD investors were excited to learn of the launch of One Drop | Plus. This is helping One Drop expand its offering in order to better meet the individual needs of people that struggle with pre-, type 1 and type 2 diabetes. The new product is now available in the United States and Europe.
This is overwhelmingly positive news for MNKD, as the company announced a planned collaboration with One Drop earlier this month. This collaboration will provide cost savings and customized coaching content and will lead to innovation with regard to packaging and exploration of a reusable Afrezza inhaler with integrated Bluetooth technology. So, the launch of yet another likely popular One Drop product means that Afrezza will be seen by more and more consumers. With regard to the launch, Jeff Dachis, CEO and Founder of One Drop, had the following to offer:
“At One Drop, we are bringing evidence-based diabetes care into the 21st century with seamlessly integrated devices, a fully featured diabetes management app, data-driven insights, and ongoing one-on-one support from dedicated diabetes experts (likely including MNKD experts) – all right on your mobile phone… No one wants more ‘business as usual’ with yet another clunky device in a vinyl zippered case, expensive supplies, or impersonal, reactive, remote diabetes monitoring from a call center. People deserve much better.”
Stop wasting your time! Find winning trades in minutes with Trade Ideas!
What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on MNKD. In particular, we’re interested in following the coming collaboration with One Drop and how this collaboration turns into a profitable opportunity for the company. We’ll continue to follow the story closely and bring the news to you as it breaks!
Never Miss The News Again
Do you want real-time, actionable news delivered to your inbox? Join the CNA Finance mailing list below!