MannKind announces Ad Com date, shares stumble

|About: MannKind Corporation (MNKD)|By:, SA News Editor

MannKind Pharmaceuticals (MNKD) trades lower by 11% in premarket action.

The company says an Afrezza Ad Com has been tentatively scheduled for April 1.

Also not helping matters is The Street's Adam Feuerstein, who had the following to say today about the inhaled insulin product's chances for approval: "The results from the two phase 3 studies announced this summer were barely passable [and] we still don't know, exactly, how the current 'Dreamboat' inhaler performed relative to the older Medtone inhaler."

"None of the Afrezza data have been presented at a medical meeting or published," Feuerstein notes, adding that while he "absolutely" could be wrong about the drug's chances, "there's certainly precedent for an Afrezza rejection. Two, actually."