MannKind Corporation (NASDAQ:MNKD) announced the launch of a new Titration Pack containing 60 — 4 unit cartridges, 60 — 8 unit cartridges and 60 — 12 unit cartridges of Afrezza (insulin human) Inhalation Powder.
This new package is intended to simplify physician prescribing of Afrezza and allow patients greater dose flexibility in managing their diabetes, while potentially reducing the cost burden of multiple copays.
Michael Castagna, Chief Commercial Officer of MannKind Corporation, stated, “We are excited to see our new Titration Packs entering the supply chain this week. This new titration box along with our new sample program will enable higher dose mealtime insulin patients to dose Afrezza appropriately and manage their disease in as few inhalations as possible.”
The new titration package compliments a similar Titration Pack with 90 — 4 unit and 90 — 8 unit cartridges that launched in July 2016 and now makes up almost 25% of weekly Afrezza units dispensed.
Additionally, the Company is transitioning its sales force from a contract sales organization to an expanded team fully staffed by MannKind employees. The new team is expected to be trained and in the field over the next two weeks. The expanded sales force will be able to reach approximately 75% of the total Rapid Acting Insulin Market. The Company is also changing its diabetes nurse educator model, going from a small dedicated team to a much larger nurse team operating on a per diem basis. These efforts are expected to enhance the education and training of patients initiating Afrezza therapy, thereby increasing compliance and persistence.
“The new package, along with our new sales force expansion and nurse educator model, will enable us to make a stronger impact in how we market Afrezza without dramatically increasing our cost structure. Additionally, our Commercial organization has several direct-to-consumer and digital media initiatives deploying in the next few months that will further expand our promotional efforts,” said Matthew Pfeffer, Chief Executive Officer.
Shares of MannKind are up nearly 2% to $0.72 in pre-market trading Wednesday. MNKD has a 1-year high of $2.24 and a 1-year low of $0.41. The stock’s 50-day moving average is $0.67 and its 200-day moving average is $0.69.
On the ratings front, J.P. Morgan analyst Cory Kasimov reiterated a Sell rating on MNKD, in a report issued on November 10. According to TipRanks.com, Kasimov has a yearly average loss of 10.4%, a 32% success rate, and is ranked #4284 out of 4373 analysts.
MannKind Corp. is a biopharmaceutical company. It focuses on the discovery, development and commercialization of therapeutic products for diseases, such as diabetes and cancer.