MannKind Corporation (NASDAQ: MNKD) is off to an incredible run in today’s trading session, and for good reason. The company will be holding an investor meeting soon, and rumors are flying at the moment. Of course, this is leading to investor excitement, causing gains and prompting our partners at Trade Ideas to alert us to the movement. At the moment (11:39), MNKD is trading at $1.22 per share after a gain of $0.16 per share (15.31%) thus far today.
MNKD Gains On Rumors
As mentioned above, MannKind is having a strong time in the market at the moment ahead of an investor meeting. The company recently announced that an investor meeting will take place on May 18th, but hasn’t discussed much other than the fact that the meeting is going to happen. Nonetheless, rumors are already starting to run.
After a search on my two favorite social networks, StockTwits and Twitter, it didn’t take long to see what all the fuss was about. Ultimately, there are some hopes of a takeover. In particular, the CNA Finance team noticed that Amgen, Inc. (NASDAQ: AMGN) has been mentioned multiple times as a possible suitor.
After the search on StockTwits and Twitter, we started to dig to see if there was any validity to these claims. Especially considering that a few messages pointed to “leaked information” surrounding the possibility of a merger. However, after digging through all of our sources, checking mainstream media outlets, and more, we could not find any evidence of such leaked information.
Here’s What We Do Know
So far, there are a few things we know that are indeed happening:
- Investor Meeting – It is indeed true that an investor meeting will be taking place on May 18th,
two days from now. While some are suggesting leaked information associated with a merger, this is unconfirmed.
One Drop | Chrome – We also know that One Drop | Chrome was recently added as an Amazon Prime product. This followed news of intent to partner with MNKD. So, it’s possible that we will hear more about this potential partnership at the investor meeting.
- Sales Struggles – MNKD has struggled with the sale of it’s flagship product, Afrezza. However, with recent efforts to partner with others in the industry, things could start moving in the right direction.
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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 following the investor meeting, as we believe that something big will be announced. Just what that might be? Well, at the moment, we have no idea. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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