MannKind Corporation (NASDAQ:MNKD) will release its fiscal second-quarter results at 5:00 ET on Monday, August 11. The biopharmaceutical company will also hold a conference call to discuss results and other developments on the same day following the earnings release. You can access the live webcast of the call here.
Investors expect MannKind to announce a partner at earnings call
Analysts on average expect MannKind to report a Q2 loss of 12 cents per share compared to a loss of 16 cents in the same quarter a year ago. The Valencia-based company doesn’t yet generate revenue. For the full-year 2014, analysts expect the company to incur $0.36 a share in losses. MannKind reported its first-quarter results on May 12. The company’s operating expenses in Q1 stood at $41.4 million. MannKind suffered a loss of 14 cents in the first quarter.
The Alfred Mann-led company’s insulin drug Afrezza has won USFDA approval for Type-1 and Type-2 diabetes. But the company is still looking for a potential partner to commercialize the drug. That’s because the FDA has attached many strings with the drug’s approval, which may hurt Afrezza’s sales. Regulators want the company to clearly tell doctors and patients that people with lung cancer or any lung disease can’t take it. They also require patients to go through lung function testing before the drug is prescribed. Moreover, FDA wants MannKind to conduct post-marketing trials, which would incur heavy expenses.
MannKind signs insulin supply agreement with Amphastar of France
On July 31, MannKind announced that it had signed an insulin supply deal with Amphastar France Pharmaceuticals SAS of France. The French company will manufacture and supply recombinant human insulin to MannKind for use in Afrezza. MannKind has agreed to buy insulin worth a minimum of €120.1 million a year between 2015 and 2019. The company can also purchase additional quantities. The agreement allows MannKind to renew the deal for additional, successive two-year terms.
MannKind shares declined 1.17% to $8.03 at 12:36 PM EDT on Friday.
