MannKind Corporation (MNKD) Up 20% Since Afrezza FDA Approval

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MannKind Corporation (NASDAQ: MNKD ) is one of the Best Penny Stocks to Invest In According to Billionaires . MannKind Corporation (NASDAQ:MNKD) has gained roughly 20% since the FDA approved Afrezza, which is an inhaled insulin for children and adolescents aged 6 and older with type 1 or type 2 diabetes. The news came on May 29.

Management noted that this approval expands Afrezza beyond adults, where it was already approved. More than 350,000 children and adolescents in the US have diabetes, and most need lifelong insulin therapy. The drug works through the company's Technosphere platform, delivering insulin via the lungs for rapid absorption. Moreover, the approval was based on the INHALE-1 trial plus two decades of additional safety and efficacy data on inhaled insulin.

More recently, on June 23, MannKind Corporation (NASDAQ:MNKD) also announced receiving a grant from Breakthrough T1D to support the company's INHALE-1ST clinical study. The trial tests whether Afrezza can be used soon after a type 1 diabetes diagnosis in kids. The company's CEO called the partnership a sign of growing confidence in inhaled insulin's potential for newly diagnosed children.

Moreover, the Street is also bullish on the stock, with analysts' 12-month average price target suggesting more than 54% upside from the current level.

MannKind Corporation (NASDAQ:MNKD) is a biopharmaceutical company that specializes in chronic disease care. Incorporated in 1991, the company provides solutions for serious conditions, such as diabetes, pulmonary hypertension, and fluid overload.

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Sinergia Empresarial continuará el seguimiento de esta información sobre mannKind Corporation (MNKD) Up 20% Since Afrezza FDA Approval y ampliará la cobertura conforme se confirmen nuevos elementos relevantes para el ecosistema empresarial.