MannKind Corporation (NASDAQ: MNKD) is off to a relatively strong day in the market this morning, and for good reason. The company announced that it will be exploring strategic options with regard to technosphere. As a result, investor excitement ensued, leading to gains in the value of the stock and prompting our partners at Trade Ideas to alert us to the movement. At the moment (9:54), MNKD is trading at $1.58 per share after a gain of $0.03 per share (1.91%) thus far today.
MNKD To Explore Strategic Options With Regard To Technosphere
As mentioned above, MannKind is having a relatively strong start to the trading session today after announcing that the company plans on exploring strategic options. The exploration is specifically with regard to the company’s non-insulin technosphere-based product pipeline. Various sources have reported that MNKD has engaged Locust Walk to assist in the effort to explore strategic options.
Technosphere is a proprietary technology that MNKD designed in order to deliver injection-based treatments without an injection. Instead, technosphere (an inhaled powder) can be used to deliver treatments at a much faster rate and without the invasive needle involved in injections. Technosphere is most commonly known for its use in delivering Afrezza, MannKind’s flagship inhaled insulin.
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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 learning more about the company’s intentions with regard to rights to technosphere and will be following the company through the strategic exploration process. We’ll continue to follow the story closely and bring the news to you as it breaks!
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