MannKind Corporation (NASDAQ: MNKD)
MannKind has had a rough time in the market recently as the shorts have been taking the stock for a ride. However, yesterday, the company released its earnings report along with tons of other good news. Nonetheless, we’re still seeing a strong tug of war in the market between the bulls and the bears. However, I think that the bears are starting to lose their grip. Today, we’ll talk about the good news that came out yesterday, what we’re seeing in the market today, and what we can expect to see moving forward. So, let’s get right to it…
MannKind Releases A Slew Of Good News
As mentioned above, yesterday, MannKind released their earnings report along with quite a bit of other good news. Here’s what we saw…
- Earnings – First and foremost, MannKind released an earnings report that showed better than expected results. For the second quarter, the company produced a loss per share of $0.07; $0.01 ahead of analyst expectations.
- Chief Medical Officer – We also heard about the new Chief Medical Officer that MannKind appointed yesterday. His name is Dr. Raymond Urbanski and he is definitely qualified for the job. Dr. Urbanski has 25 years of experience in the industry; in which time he held positions as the chief medical officer of Mylan as well as Metabolix. He has also held a position as the vice president of Pfizer and other strong positions in the industry. At MannKind, Dr. Urbanski will lead overall drug development activities.
- European Approval Odds – Finally, on the earnings call, we heard more about possible approval of Afrezza in Europe. While there was no clear “yes we got approval” or “no we didn’t get approval” it was insinuated that the odds of approval are great; which coincides with the company’s decision to triple Afrezza production capabilities.
What We’re Seeing From MNKD Today
Unfortunately, the tug of war between the bulls and the bears is continuing on this one. While we did see decent gains in early morning trading, the bears have driven the stock down to nearly a break even point. Currently (1:11), MNKD is trading at $4.05 after a slight gain of 0.25% so far today.
What We Can Expect To See Moving Forward
While the bears are still holding on for dear life, it seems as though they are starting to lose their grip; and for good reason. The bottom line is that MannKind produced strong earnings, is strengthening its team, and will likely start producing strong sales figures from Afrezza relatively soon. Really, I see no reason to be bearish on this stock; that is with the exception of willful manipulation at the expense of REAL INVESTORS! With that said, we’re headed toward European approval which will likely send MNKD skyrocketing; and eventually the manipulative bears will have no choice but to find another stock to toy with.
What Do You Think
Where do you think MNKD is headed and why? Let us know in the comments below!