MannKind Corporation (MNKD) to Explore Strategic and Financial Alternatives for Technosphere Platform
MannKind Corporation (NASDAQ:MNKD) announces its decision to explore strategic and financial alternatives for MannKind’s novel Technosphere-based pipeline candidates. This Technosphere platform is characterized by an ultra-rapid onset of action, simple and needle-free administration, avoidance of hepatic metabolism, and improved bioavailability. Continuing MannKind’s strong desire to help patients, Locust Walk will seek strategic partners and investors to non-dilutively advance the development of Technosphere-based therapies which demonstrate benefit across a variety of treatment areas, including but not limited to hypertension, anaphylactic shock, nausea, respiratory disease and pain.
“MannKind has focused its financial resources on the commercialization of Afrezza and is seeking alternate means to fund our other development programs for the Technosphere platform. I am excited to collaborate with Locust Walk, who has extensive global experience in pharmaceutical partnering, to help bring our product candidates to market, such as Epinephrine Technosphere® for anaphylaxis, Trepostinil Technosphere® for pulmonary arterial hypertension, and Palonosetron Technosphere® for chemotherapy-induced nausea and vomiting,” said Raymond Urbanski, Chief Medical Officer of MannKind Corporation.
Shares of MannKind are up nearly 7% to $1.66 in pre-market trading Monday. MNKD has a 1-year high of $6.50 and a 1-year low of $0.49. The stock’s 50-day moving average is $1.14 and its 200-day moving average is $0.99.
MannKind Corp. is a biopharmaceutical company. It focuses on the discovery, development and commercialization of therapeutic products for diseases, such as diabetes and cancer.