MannKind Corporation (NASDAQ: MNKD)
MannKind has had a bit of a troubling time in the market over the last few months. However, a recent news release by Jefferies helped to prop the stock back up. Then a new member was elected to the board; resulting in the climb we’re seeing now. So today, we’ll talk about the recent news release from Jefferies, who recently joined the board, and whether or not MNKD is likely to continue climbing in the market. So, let’s get right to it…
Afrezza Sales Are Going To Grow
Earlier in the month, Jefferies published the result a survey; which more than 50 endocrinologists responded. The results showed that 65% of responding physicians have not only heard about Afrezza, but plan to use it in the future. While the sample size of the survey is a bit small in my opinion, it does give us the impression that MannKind has done a good job of making sure physicians are aware of their inhaled insulin. More importantly, MNKD is likely to see growth in the future as more and more physicians start to prescribe the drug.
MannKind Elects Dr. Shannon To The Board
In more recent news, MannKind recently elected James S. Shannon, MD, MRCP to the board; bringing the total number of board members to 8 and addressing concerns over the company’s management. Dr. Shannon was the director of MNKD from February 2010 to April 2012. However, he left his post to work with GlaxoSmithKline. Throughout his career, Dr. Shannon has held several prominent positions in the biotech space; earning a solid reputation as a key player in the industry. In the announcement, the executive chairman of MannKind, Alfred Mann had the following to say…
“We are very pleased to welcome James back to the board of directors…His experience as a recognized pharmaceutical industry leader is invaluable to us as we accelerate the commercialization of Afrezza and build a pipeline of additional product opportunities that utilize our proprietary technologies.”
More To Why MNKD Is Likely To Grow
So, now we know that physicians have indeed heard of Afrezza and plan to use it in the future. Also, we know that MannKind has made a crucial addition to the board of directors; addressing management issues. With that said, it’s clear that the company is moving in the right direction. However, there’s one more thing that I think points to more growth for MNKD; it’s “proprietary technologies”. MannKind is in the process of testing whether or not the technology used to deliver insulin through an inhaled powder will be effective in delivering other injection only medications. The way I see it, the answer is likely to be “Yes, it is possible”. In the long run, this will prove to be a very valuable thing. So, all in all, I think MNKD is likely to grow for the long term.
What Do You Think?
Where do you think MannKind stock is headed and why? Let us know in the comments below!