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Thursday, Mar 28, 2024

Larger Loss for MannKind

Valencia-based MannKind Corp. posted a higher net loss after the company’s research and development costs went up. The company reported a first-quarter net loss of $46.3 million, or $0.87 per share, on revenues of $100,000 compared with a net loss of $22.2 million on no revenue a year ago. MannKind said that its operating costs more than doubled as it insulin product is in Phase 3 clinical trials in the United States and Europe. Chairman and CEO Alfred Mann said the company expects to start its last Technosphere Insulin trial soon.

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