MannKind reports loss.MannKind Corporation MannKind Corporation (Nasdaq:MNKD ) is a biopharmaceutical company that focuses on the discovery, development and commercialization of therapeutic products for diseases such as diabetes and cancer. reported a net loss applicable to common stockholders of $27.2 for the second quarter of the year as operating and research and development expenses increased substantially to support expanded clinical trails and other development of the company's Technosphere Insulin program. For the first six months of 2005, operating expenses Operating expenses The amount paid for asset maintenance or the cost of doing business, excluding depreciation. Earnings are distributed after operating expenses are deducted. totaled $50.2 million, compared with $35 million in the first half of 2004. Research and development expenses increased by $15.2 million to $42.3 million, mostly because of the insulin program. Alfred Mann, company chairman and chief executive officer said that MannKind hit a significant milestone this past quarter by starting a Phase 3 safety study in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. with patients with type 1 and type 2 diabetes type 2 diabetes n. See diabetes mellitus. . The studies, Mann said in a company report, will add to the evidence that inhaled insulin is a safe and effective treatment. |
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