Today’s 2014 Top Picks update is a biotech company that just received FDA approval for its lead product for insulin therapy.
MannKind (MNKD)
from Nate’s Notes
Thanks to a favorable Advisory Panel meeting with the FDA back in April, and then a final approval for the company’s lead product, Afrezza (an inhalable form of insulin), in late June, I am very pleased to report that my Top Stock Pick for 2014, MannKind (MNKD) has roughly doubled in price for investors during the first half of the year!
While it remains to be seen just how successful Afrezza will turn out to be, I believe it is worth noting that serial entrepreneur, Alfred Mann, is not only the CEO and Founder of the company, but he has also invested close to $1 billion of his own money in the company so far.
Now that the drug has been approved, the next major event for the company will likely be the announcement of a marketing partner for Afrezza, with the wild card being the fact that there is some other intellectual property at MannKind that may or may not be part of the negotiations as well.
In response to the FDA approval, we recently raised the buy limits on the stock, and MNKD is now a strong buy under $10 and a buy under $14.
Nate Pile, Nate’s Notes, www.NotWallStreet.com, 707-433-7903, July 13, 2014