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Desperate MannKind sinks 12% as it raises $75M to fund Afrezza trials

This article was originally published in Scrip

Executive Summary

MannKind, which has no products on the market, needs new capital for additional work and operating expenses, as it pushes forward with more trials requested by the US FDA for its inhaled Afrezza (insulin[rDNA origin]) using its next-generation inhaler. Its shares sank more than 12% after it priced an offering of 31.3 million units at $2.40 on 3 February, seeking $75 million.


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