Shares of Drug developer MannKind Corporation (NASDAQ:MNKD) dropped on Monday after it posted fourth-quarter loss extended as it acquired a one-time charge associated to the value of a agreement and sustained to study its inhaled diabetes drug Afrezza.
MannKind reported on Monday that it acquired a charge of $13.3Mfollowing adjusting the fair value of agreement. Its research costs surged as it constant new late-stage trials of Afrezza. MannKind has been annoying for years to win authorization of Afrezza and the inhaler that delivers it, and the firm aims to file for marketing authorization in the third quarter of 2013.
Analysts anticipated MannKind to declare a loss of 17 cents a share, according to FactSet.
Moving readers toward the broader market, let’s consider percentage change in stocks prices of other stocks in the similar sector who contribute major role in the market that includes Celsion Corporation (NASDAQ:CLSN) rose +19.38%, Gilead Sciences, Inc. (NASDAQ:GILD) edged down -1.22%, Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) which also decreased -1.03% and Rexahn Pharmaceuticals, Inc. (NYSE:RNN) closed up +18.38%.
MannKind Corporation (NASDAQ:MNKD) stock’s trade at beginning with a price of $2.62 and throughout the trading session climbed at a high of $2.65 other than when day-trade ended the stock finally declined -1.92% to $2.56.
The stock is going forward its 52 week low with 63.06% and lagging behind from its 52 week high price with -17.68%. MNKD last month stock price volatility remained 4.38%.
MNKD stock institutional ownership remained 14.79% while insider ownership included 0.77%. In its share capital MNKD has 245.78 million outstanding shares among them 162.15 million shares have been floated in market exchange.
Company’s beta coefficient included 1.05. Beta factors measures the amount of market risk associated with market trade.
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