Market Overview

MannKind Pops And Drops Off Q2 Beat

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Joel Elconin is the co-host of Benzinga's #PreMarket Prep, a daily trading idea radio show.

MannKind Corporation (NASDAQ: MNKD) shares were trading higher by $0.17 at $4.15 in Monday's session. Before the open, the company announced a Q2 loss of $0.07 per share vs. an estimated loss of $0.08 per share.

The company, whose success is primarily tied to the success of Afrezza (human insulin inhalation powder) revealed on July 31 its plans to triple production capacity of the drug.

The volatile issue has come down from its June 8 high ($7.32) all the way to as low as $3.90 in Friday's session. That marked the fifth consecutive session where it bottomed in a range from $3.90 to $4.25.

After a higher open ($4.27 vs. Friday's close of $3.98), it rallied to $4.47. That matches its July 31 high and is just shy of its July 30 high ($4.53). Since reaching that level, it has been drifting back toward the cluster of lows at the $4 level.

Editor's note: As of 11:50 a.m. ET, shares traded unchanged at $3.98.

Posted-In: Premarket outlookTechnicals Intraday Update Movers Trading Ideas

 

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