MannKind Corporation (NASDAQ: MNKD)
MannKind is having an incredible day in the market today, and for good reason. The company has been struggling with regard to selling its flagship product, Afrezza. Much of these struggles have had to do with Sanofi; we’ll get to that in a bit. However, the reason the stock is seeing incredible gains today is that it has announced that it will be holding a conference with regard to commercialization plans associated with Afrezza. Today, we’ll talk about what we’ve seen from Afrezza in the past, what we’re expecting to see from the conference, and what we can expect to see from MNKD moving forward. So, let’s get right to it…
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MNKD And Afrezza
MannKind received word in late 2014 that it’s leading candidate, Afrezza was approved for the treatment of diabetes by the United States Food and Drug Administration. From there, the company signed a commercialization agreement with a company known as Sanofi. However, Sanofi had its own competing treatment, and if Afrezza would have taken off, Sanofi would have lost money. So, over the past year, we’ve watched as Sanofi decided to drag its feet on commercialization. As a result Afrezza simply didn’t sell as expected, sending the value of MNKD down in a big way.
In January, it was announced that MannKind and Sanofi would be canceling their agreement. This was overwhelmingly positive news as it would shift commercialization rights away from Sanofi and give them back to MNKD, giving the company the opportunity to commercialize the treatment in the way it should have been commercialized in the first place.
What We’ve Seen Since The Announcement
Since MNKD announced that the agreement with Sanofi was coming off of the table, we haven’t heard much. The most important piece of information that we’ve gotten was that MannKind would be partnering with a group of specialized diabetes treatment centers that would be using Afrezza as a real-time treatment for diabetes. However, since then, everything has been relatively quiet. As a result, investors are eagerly anticipating word from the company, and it seems as though the word will be coming down the line soon.
MannKind Will Host An Analyst Call For The Investment Community
It was announced today that MNKD will be hosting an analyst call for the investment community. The call will be focused on Afrezza Inhalation Powder and the company’s commercialization plans with regard to the treatment not only throughout the year 2016, but beyond. The call will be held on April 19th at 5:00 PM eastern time. If you would like to participate in the call, you can call in at (888) 224-7957 or (303) 223-4394 with the participant passcode 21809665. You can also listen to the presentation live at MannKind’s Corporate Website.
What I’m Expecting To Hear On The Call
When it comes to the Afrezza conference call, there are a few things that I will be looking for:
- Specialized Diabetes Care Centers – Since the announcement that MNKD would be working with Specialized Diabetes Care Centers, we haven’t heard much more with regard to the news. I’d like to know at what phase of this plan the company is and when we can expect for this plan to go into full motion.
- Commercialization Partners – MNKD previously announced that it may seek new commercialization partners. As a result, I’d like to know if they have found a partner. If not, is the search still on?
- Finances – We know that MannKind is having a tough time financially. I’m going to be listening closely to find out what we’re looking at as far as finances to get the company through 2016 and beyond.
What We’re Seeing In The Market Today
Regardless of what happens at the meeting, investors are clearly excited. This can be seen through the movement on the stock’s value. Currently (11:33), MNKD is trading at $1.49 per share after a gain of $0.27 per share or 22.20% thus far today.
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What Do You Think?
What do you think we’ll be hearing on the conference call? Let us know your opinion in the comments below!
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