MannKind Plunges on Securities Offering

Shares of biotech name MannKind MNKD had lost nearly 9 percent on Tuesday after the company filed to sell up to $500 million in mixed securities. Year-to-date, the stock has lost less than 1 percent and over the last 52-weeks, MNKD is down almost 16 percent. MannKind Corporation is a development-stage biopharmaceutical company. The Company is focused on the discovery, development and commercialization of therapeutic products for diseases such as diabetes and cancer.