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MannKind Corporation latest news:
MannKind's stock tumbles after share offering, in wake of recent tripling in price
Shares of MannKind Corp. tumbled 8.4% in premarket trade Wednesday, after the inhaled therapeutics products maker announced overnight an offering of common stock, as the company takes advantage of a tripling in price over the past seven sessions. The company said it has entered into agreements with certain institutional investors regarding the sale of a total of 10.17 million shares at a price of $6.00 a share, to raise $61 million. That price is 11% below Tuesday's closing price of $6.71, but is 176% above the Sept. 29 close of $2.17. "With this offering, we have made substantial progress in our efforts to recapitalize the company," said Chief Executive Michael Castagna. The stock has rocketed nearly six-fold over the past three months and more than doubled year to date, while the S&P 500 has gained 14% so far this year.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
BRIEF-MannKind announces $61 mln direct offering of stock
* MannKind announces $61 million registered direct offering
of common stock
MannKind's stock rockets on heavy volume for third-straight session
MannKind Corp.'s stock rocketed Thursday on very heavy volume, putting it on track to post a third-straight 20+% gain, after the Food and Drug Administration updated prescribing information for the company's diabetes treatment to include data on rapid onset of activity. The stock ran up 32.2% in afternoon trade toward a 14-month high. Volume ballooned to 62.5 million shares, which is about 13 times the full-day average, and enough to make the stock the most actively traded on major U.S. exchanges. The stock had shot up 25.5% on Wednesday on volume of 19.0 million shares, and soared 20.5% on Tuesday on volume of 12.9 million shares. On Monday, the stock rose 7.8% on volume of 9.3 million shares, after the company revealed the FDA's update. The company did not immediately respond to a request for comment. The label now shows that first measurable effects of the inhaled insulin started in 12 minutes, with peak effects about 35 minutes to 45 minutes after and a return to baseline about 1 1/2 hours to 3 hours later. The stock has now hiked up 116% this week. It was now up 47% year to date, while the S&P 500 has gained 14%.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
BRIEF-Mannkind says delivered written certification to Deerfield Private Design Fund II LP, others certifying extension conditions of facility deal were met
* Mannkind-On Aug 31,delivered written certification to
Deerfield Private Design Fund II, L.P, others certifying
extension conditions of facility deal were met
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