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Mannkind slips on cautious note out of Summer Street
Mannkind (MNKD -7.1%) slips on a negative note out of Summer Street this morning.
The firm appears to be suspicious of the results of the drug developer's Phase III AFFINITY 1 trial, after they released results on the injectable insulin and Dreamboat arms but withheld the results on the Medtone C-arm.
Releasing data on only two of the three arms of the trial like that is unprecedented.
If the results on the Medtone C-arm aren't worthy of presenting and inhalers aren't equivalent, then Summer Street feels there's not enough safety information to approve Dreamboat.
Still beating on MNKD. "MannKind (NASDAQ:MNKD): Summer Street said it is confident that the FDA will not approve MannKind’s Afrezza Dreamboat inhaler — at least without new large clinical trials. The firm, which does not rate the stock, believes the AFFINITY 1 trial was a failure." Posted on Wall St Cheat Sheet 8/19 at 3:52pm..
No basis given, and why the heck should they do a 4th round of clinical trials? Methinks SS is a troll, a short one.
Don't be spooked by dubious non company news releases. Trust Deerfield that funded Mannkind and trust Mannkind. These so called news stories of negative MNKD news never pan out. Hold it long for FDA approval next spring and a big pharmy partner buy in. I'm looking for $27 to $30 a share.