MannKind Corporation (MNKD) Shares Down Following Rival’s IPO Plans

1
MannKind Corporation (MNKD) Shares Down Following Rival’s IPO Plans

MannKind Corporation (NASDAQ:MNKD) shares continued their decline on Monday following the news that a potential rival has filed for an IPO, says a report from WallStreetPR. The news of the IPO along with the continued pullback from the news of the delay in approval of Afrezza dragged the shares down by 1.87% to $6.29.

Rival developing a similar product

Dance Biopharm, a rival to MannKind Corporation (NASDAQ:MNKD), reportedly filed IPO documents with the Securities Exchange Commission (SEC) last week. Dance Biopharm is expected to collect $75 million through the offering. Similar to MannKind’s product, rival Dance has also developed an inhaled insulin product for the treatment of diabetes.

Massif Capital’s Top Short Bets In The Real Asset Space [Exclusive]

Screenshot 2022 08 10 18.57.51 1Since its founding by Will Thomson and Chip Russell in June 2016, the Massif Capital Real Asset Strategy has outperformed all of its real asset benchmarks. Since its inception, the long/short equity fund has returned 9% per annum net, compared to 6% for the Bloomberg Commodity Index, 3% for the 3 MSCI USA Infrastructure index Read More