MannKind's New Man In Charge

MannKind Corporation MNKD underwent a management change late Wednesday as the company tabbed Duane Desisto as its new CEO.

Desisto's prior experience included serving as CEO of medical device company Insulet Corporation PODD from 2003 to 2014. He will be taking over for Founder, and Interim CEO Alfred Mann, who took over the company after former CEO Hakan Edstrom stepped down November 20.

In the press release, Desisto said, "MannKind has world-class pharmaceutical technology that has the potential to address a large number of unmet medical needs, and I am excited by the opportunities at MannKind for creating significant value for our shareholders."

Shares of Mannkind have struggled the past year, trading down from $7.88 to its current share price of $1.52, down 1.3 percent Thursday morning.