Boston, MA 05/28/2014 (wallstreetpr) – The leading organization MannKind Corporation (NASDAQ:MNKD) recently announced the financial results for the Q1 of the current year. The details of the financial results can be found in below stated points-
The company managed to earn a significant profit in the first quarter, but with profit increased the expenses. According to the reports made public by the company, the operating expenses for the Q1 of the current year were $41.4 million. If compared to the operating expenses of the Q1 of the previous year, you can see the difference. MannKind Corporation (NASDAQ:MNKD) posted $36.4 million operating expenses in the previous year. Over the last 12 months, the operating expenses increased by $5 million.
When it comes to research and development expenses, the company managed to control them over a period of last 12 months. R&D expenses for the Q1 of the year 2014 were recorded as $26.2 million. While the R&D expenses of the previous year’s first quarter were $26.4 million.
The general and administrative expenses of the company for the Q1 of the current year were $15.2 million, in comparison to $10 million for the Q1 of the last year. The main reason behind the increment in the G&A expenses is due to increment in the consulting and legal fees of $1.2 million, and $3.4 million worth of non-cash stock-based compensation expense.
The common stockholders suffered a net loss of $52.1 million in the first quarter of the year 2014. In terms of per share basis, the net loss was $0.14 per share. When compared to the previous year’s Q1, you can see that the net loss was $41.0 while on per share basis it was $0.15 per share. The company managed to earn cash and cash equivalent of $35.8 million in the first quarter of the year 2014. With the improved market conditions, you can expect MannKind Corporation (NASDAQ:MNKD) to post higher financial figures in the coming months.