MannKind Corporation (NASDAQ:MNKD) Seems Optimistic About Its Future Prospects After Weak Quarterly Earnings
Denver, CO, 08/15/2013 (Avauncer.com) – Shares of MannKind Corporation (NASDAQ:MNKD) were up 16.03% to close at $7.96. As a result, shares remained at the upper end of its 52-week price range of $1.82 to $8.70. Therefore, shares remained actively traded with 39.13 million shares being traded, up from the average volume of 6.37 million shares.
Shares of the company has surged after recent reports of the company succeeding in creating an inhaled insulin device has hit the market. The edge of such an innovation is that such has proved to be more effective than the popular injected and oral treatments in the experiment. The inhaler is easier to use, when compared to regular insulin shots. This targets at the most common disease in the world, diabetes, improving the quality of life of millions. The product is such that it already has a large market to it. Globally, the number of persons suffering from diabetes is expected to cross the half billion mark by 2030. Speculations are there that if the company gets successful with its product, the company would be able to make a multibillion dollar project out of it. The main challenge which lies ahead of the company is whether it can successfully commercialize the product. The company has a large target market in front of it, what the company has to do is effectively price its product and make it accessible so that it can make the maximum out of its product. The product has utility superiority over others, may be another fact, but how well the company fares in generating income out of such fact is the main challenge that lies ahead of the company.
The company had recently reported its quarter earnings, missing analyst estimate of ($0.014) EPS, by reporting an EPS of ($0.16). The company had witnessed an insider trading, with CFO of the company selling shares worth$80,000, prior to its declaring the quarter earnings report.