MannKind Posts Smaller Losses in Q4

Development costs for a new diabetes treatment drug and other operating expenses contributed to MannKind posting a net loss for the fourth quarter. The Valencia-based biotech company had a net loss of $59.5 million, or $0.53 per diluted share for the quarter ending Dec. 31. For the same period in 2008, the company reported a net loss of $83.3 million, or $0.82 per diluted share. MannKind had no revenues for the fourth quarter in either 2008 or 2009. For the full fiscal year, MannKind had a net loss of $220 million, or $$2.07 per diluted share. For the 2008 fiscal year the company had a net loss of $303 million, or $2.98 per diluted share, on revenues of $20,000. Thom Senzee