One Giant Leap for MannKind Stock

MannKind Corp.’s stock is up 46 percent so far this week after the company announced it has scheduled an analyst call Tuesday to discuss its commercialization plans for Afrezza Inhalation Powder. Earlier this month, the Valencia biotech regained the manufacturing and marketing rights to Afrezza from French pharmaceutical company Sanofi, which terminated its licensing agreement with MannKind earlier this year. Afrezza is an inhalable insulin that is MannKind’s sole commercial product. During the call, Chief Executive Matthew Pfeffer and Chief Commercial Officer Michael Castagna will discuss its marketing and sales plans for Afrezza in the United States. The discussion will include rebate programs for patients, expansion plans and timelines for relaunching activities. As part of the termination agreement, Sanofi will continue to distribute Afrezza until MannKind takes over that function sometime in the third quarter. In addition, MannKind plans to release its quarterly earnings on May 9 and will discuss its financial projections for the rest of the year during that time. MannKind shares opened Monday at $1.27 and increased nearly 20 percent that day after the announcement. Shares went up big again Tuesday, closing at $1.85, up 45.7 percent over the two days.