Boston, MA 04/11/2014 (wallstreetpr) – MannKind Corporation (NASDAQ:MNKD) shares continue to sink in the market awaiting FDA decision on its new product, Afrezza, which is expected to be reviewed on July 15, 2014. Afrezza has already won approval for type-1 and type-2 diabetes, there is huge optimism that the same will be achieved with the FDA. Recent weaknesses in the market essentially presents the perfect opportunity for investors to invest in the company’s stock as the drug commands a high level of conviction, for Approval.
Affreza to Benefit from a Huge Market Demand
MannKind Corporation (NASDAQ:MNKD) has already received overwhelming FDA Advisory panel recommendation setting up a clear path for the drug to be fully accepted into the market. Market sales for injected insulin currently stand at $35 billion with the same expected to reach highs of $58 billion in the coming years. This essentially shows the huge market potential that Afrezza stands to reap on if approved. Initial demand for the drug is expected to be strong considering the approval panel statements on the drug.
There were approximately 100 million diabetic patients in China as of 2012 providing a huge market base for the drug. The company’s 13-1 vote at ADCOM is also expected to push the company’s stock price to highs of the $8 mark. Investors are entirely upbeat that despite the FDA extending PDUFA approval the drug is still inline for the much desired approval.
FDA Approval to Open More Doors for Affreza
Sales for Affreza are expected to begin in the first quarter of next year with analysts expecting sales to reach highs of $3.6 billion as of 2025. The Upcoming approval by the FDA would open more doors for Affreza of which shareholders will be in line to benefit from better stock valuation. Signing a blockbuster partnership for distribution could do the trick in ensuring the drug commands the much needed appeal in the global market, for increased sales.
MannKind Corporation (NASDAQ:MNKD) continued to sink in the market in Thursday trading session going down by 2.14% to close the day at a low of $6.85.