MannKind gives back gains one day after Afrezza results

Investors either weren't impressed with what they heard from management regarding Afrezza on MannKind's (MNKD -9.6%) Wednesday evening conference call or traders are simply taking some profits after yesterday's rally, as shares are down sharply in morning action.

The company discussed results of the Affinity trials yesterday after the close, addressing a number of points including partnership plans and an apparent discrepancy between the  previously specified between-group A1c difference (0.5%) and the observed difference (0.4%). As for the latter issue, the company says the P-value of .0001 leaves no doubt as to an "unequivocal superiority conclusion." (transcript)

Merrill Lynch reportedly says Afrezza's potential as a complement to oral in the Type 2 market is uncertain.

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Comments (4)
  • Whattaworld
    , contributor
    Comments (1042) | Send Message
    Sounds like there is more investor concern about its ability to market it successfully than an FDA approval.
    15 Aug 2013, 10:54 AM Reply Like
  • tomlewis727
    , contributor
    Comments (11) | Send Message
    As stated in the conference call yesterday, they were waiting on Phase III results to be released before they proceeded in negotiations for partners to assist with marketing/production campaigns. They are looking for a company that would help with Global marketing rather than just domestic.
    15 Aug 2013, 05:38 PM Reply Like
  • Whattaworld
    , contributor
    Comments (1042) | Send Message
    I'm just talking about the reaction to the announcement was underwhelming since the stock rose briefly but fell right back. Its clear now that the risk of a failed Ph 3 study was not holding it back. The only suspect left is the risk of marketability.
    15 Aug 2013, 07:04 PM Reply Like
  • SarahKnows
    , contributor
    Comments (94) | Send Message
    Ever hear of shorts spreading fear, uncertainty and doubt? The same thing happens to every biotech startup after good news when short positions constitute a large percentage of the float. Why do commentators insist on pretending the elephant in the room is not there? Please read the conference transcript, then read the published results. If you can't understand them, consult someone who actually knows about scientific research. Talk to patients who have been on Afrezza-but most of all, appreciate that the trial endpoints were developed with the FDA. The endpoints were met, and were NEVER intended to show superiority. All of a sudden, that is now an issue. Wonder why?
    16 Aug 2013, 03:51 PM Reply Like
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