MannKind Corporation (NASDAQ:MNKD) reports its fourth quarter and annual 2017 financial results. The company recorded an increase in its net revenue, which were $4.5 million and $6.4 million respectively with an positive increase of 238% compared to the previous year.
MannKind, is currently preparing to launch a Phase I clinical study for its Treprostinil Technosphere (TreT) under the investigational New Drug (IND) application that is still pending at the Food and Drug Administration (FDA). The Phase I study would progress to the leading registration studies in 2019.
The TreT study intends to develop a drug-device inhaler that would be key in treating patients with pulmonary arterial hypertension (PAH). The device is smaller, portable and a breath-powered inhaler that would simplify the drug dosing process.
MannKind is a leading player in the Healthcare space and focuses on Biotechnology particularly on development and distribution of inhaled therapeutic products for treatment of patients with diabetes and pulmonary arteries hypertension. According to Dr. David Kendall, Chief Medical Officer at MannKind, the study would help in resolving the unmet needs and requirements of patients with chronic breathing conditions such as the PAH.
The company proposed Phase I clinical study of TreT to explore the safety, tolerability, and pharmacokinetics in normal and healthy participants after taking an oral inhalation drug dose. The other aims include the assessment of systematic exposure and other pharmacokinetics of the candidate that covers the dose proportionality and much more.
Meanwhile, Maxim Group announced recently that it has made the decision to drop its shares of MannKind. Other firms including the S&P Equity Research have also cut their price on the shares of the company, according to the market research analysts. However, other companies including Zacks Investment Research have upgraded their sell rating of MannKind from a strong sell rating to just a mere sell rating last week.