MannKind (MNKD) Reports In-Line Q1 Loss of 8c/Share
MannKind (NASDAQ: MNKD) reported Q1 EPS of ($0.08), in-line with the analyst estimate of ($0.08). For the first quarter of 2015, total operating expenses were $21.7 million, a decline of 47.5% compared to the similar quarter in 2014. Research and development expenses were $9.4 million, a decline of 64.2% compared to the first quarter of 2014, reflecting the commercialization of Afrezza in the first quarter of 2015 and a reduction in non-cash stock compensation expense.
Cash and cash equivalents remained at $120.8 million at March 31, 2015 and at December 31, 2014, respectively.
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