Developing exciting treatments for diabetes and cancer, today’s selection is looking forward to approval of one of its cutting-edge therapies for diabetes.
Please note that there will be no Daily Alerts tomorrow or Friday because of the Thanksgiving Holiday.
MannKind (MNKD)
From Nate Pile, Nate’s Notes
As expected, MannKind (MNKD), a biopharmaceutical company that develops therapeutic products for diabetes and cancer, reported a substantial loss in its most recent conference.
However, what was less expected (at least by me) was the fact that the stock managed to “hang in there” despite the fact that the company did not give any specifics regarding potential partnerships (which I figured would give the shorts a reason to hammer the stock again).
Instead, we still have a stock trading around $5, management laid out its reasons why it thinks it will be able to land a significant partner, and perhaps just as importantly, the company revealed that it has significantly improved its cash position in anticipation of eventual approval of Afrezza.
Afrezza is the company’s lead product candidate inhalation powder, an insulin that is in late-stage clinical investigation for the treatment of adults with type 1 or type 2 diabetes for the control of hyperglycemia. The company also develops MedTone and Dreamboat inhaler devices.
Though speculative, MNKD is a strong buy under $6 and a buy under $8.
Nate Pile, Nate’s Notes, www.NotWallStreet.com, 707-433-7903, November 2013