Boston, MA 05/23/2013 (wallstreetpr) – The early stage pharmaceutical company, MannKind Corporation (NASDAQ:MNKD) had surged in its share prices by 16.23 percent to close at $6.23 per share for the last trading session. This was observed to be an increase of $0.87 per share over the closing price of previous trading day. This gain in share prices of the pharmaceutical company for the past trading session had been attributed to the positive results announced by MannKind Corporation (NASDAQ:MNKD) for this quarter, the progress made by the management in its products and effective development of its inhalation powder AFREZZA.
AFREZZA, inhalation powder
MannKind Corporation (NASDAQ:MNKD) is a development stage biopharmaceutical company which is involved in the research, development and commercialization of therapeutic treatment products for diseases such as diabetics and cancer. The newly developed product candidate of the company, AFREZZA is an inhalation powder of insulin to be used for the treatment of adults with Type I and Type II diabetics. This inhalation powder which is in the late stage of clinical investigation is used for the control of hyperglycemia and proves to be a valuable product candidate of MannKind Corporation (NASDAQ:MNKD)
In the research and development of AFREZZA inhalation powder, MannKind Corporation (NASDAQ:MNKD) had involved 61 different studies and over 5600 adult patients for testing. The biopharmaceutical company had floated 290.88 million shares to raise the capital for its operations and has an institutional holding of 16 percent of its ownership. The average trading volume for the company is at 5.68 million shares per day.