MannKind's shares plummet on US FDA rejection of inhaled insulin
This article was originally published in Clinica
Executive Summary
Shares of biopharmaceutical company MannKind plunged 45%, or $4.01, in after-hours trading 19 January after the firm revealed that the US FDA had issued another complete response letter for the company's inhaled insulin Afrezza (insulin human rDNA origin). The share price movement wipes out $454 million from the company's market value.