MannKind Corp announced a major breakthrough in its diabetes therapy drug Afrezza. The biopharmaceutical firm revealed that the experimental therapy for diabetes was proven to be more effective than traditional therapies. In two late-stage studies, Afrezza trumped oral diabetes treatments and insulin injections for Type 1 and Type 2 diabetes. MannKind's rapid-acting mealtime insulin therapy reduced fasting blood glucose levels. Afrezza also lowered hypoglycemic incidences.
Unlike injections or oral pills, Afrezza is an inhaler. Powder is loaded into single-use, unit-dose cartridges and then to be inhaled by the patient. The firm said it would be submitting its trial data by December this year to the US Food and Drug Administration.
Incorporated in 1991, MannKind develops and commercializes therapeutic products for diseases like diabetes and cancer. It trades in NASDAQ under the ticker MNKD. It has a market capitalization of USD 750.82 million as of 2010. In that year, its outstanding shares totaled 113,760,000. MannKind has corporate headquarters in Valencia, California.
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