Merrill begins MannKind at neutral

Merrill Lynch analyst Hari Sambasivam started coverage of MannKind Corp. at a neutral rating. The biopharmaceutical company develops Technosphere Insulin for diabetes. The market for the product is estimated at $2.5 billion and growing, expected to reach $4.5 billion by 2012. One key challenge the company faces is large cash burn ($200 million in 2006), since cash ($50.9 million) and a $150 million are sufficient for one year. Shares of the Valencia, Calif.-based biopharmaceutical company were up 19 cents, or 1.05%, at $18.21. (Nasdaq: MNKD)

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.