Research and development spending has sent third quarter losses skyrocketing for the Valencia biomedical pharmaceutical manufacturing Mann Kind Corp. Quarterly net loss totaled $61 million, or $1.23 per diluted share, almost double what the company lost during the same quarter last year $31.7 million, or $0.73 per share. No revenue was recorded in either quarter. Total operating expenses went from $32.9 in third quarter 2005 to $61.1 million. Research and development also jumped to $50.8 million, almost double from last year. The company credited the increase to an expansion of its clinic trials for Technosphere, an insulin product the company is developing. It is the company’s only product under development.
