MannKind Corp. reportedly is exploring strategic options, including the possible sale of the company, according to Reuters.
MannKind, the Valencia manufacturer of inhaled insulin Afrezza, has not commented on the report.
Earlier this month France’s Sanofi terminated its agreement to sell Afrezza for MannKind after poor sales. Since the announcement, Mannkind’s stock has lost 26 percent of its value.
In response to the loss of the Sanofi agreement, MannKind has started developing a new marketing and sales strategy and has pursued other partnerships. It also brought on a new chief executive, Matthew Pfeffer, to replace Alfred Mann, who remains chairman.
Shares of MannKind closed up 17 cents or 22 percent to 92 cents on the Nasdaq.