MannKind (MNKD) Posts Q4 Loss of 66c/Share

MannKind (NASDAQ: MNKD) reported Q4 EPS of ($0.66), which may not compare with the analyst estimate of ($0.05).

Sales of Afrezza continued to be lower than expected during the fourth quarter of 2015, culminating in a decision by Sanofi on January 4, 2016 to return the Afrezza rights to MannKind after a notice period, all of which impacted the value and recoverability of long-lived assets in accordance with accounting guidance. As a result, non-cash impairment charges of $206.6 million were recorded for the fourth quarter of 2015, of which $140.4 million related to impairment of fixed assets and $66.2 million related to loss on future purchase commitments, primarily for insulin.

For earnings history and earnings-related data on MannKind (MNKD) click here.

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