Who Got Rich This Week: A For-Profit Educator, An Insulin Inhaler Maker And More:

Deep Breaths

Another troubled stock that caught a break this week was MannKind Corporation, a small biopharmaceutical company based in Valencia, CA. The outfit, founded in the late 1990s by serial biotech entrepreneur Alfred E. Mann, currently has several drugs in its development pipeline, including candidates for diabetes and cancer treatment. MannKind’s immediate future, however, relies on the success of the firm’s leading candidate, Afrezza. An inhaled rapid acting insulin product in the tradition of industry giant Pfizer’s Exubera, Afrezza “is a drug-device combination product, consisting of AFREZZA inhalation powder pre-metered into single use dose cartridges and the light, discreet and easy-to-use AFREZZA inhaler.” The drug is currently in late stage clinical trials, being tested for the treatment of both type 1 and type 2 diabetes and is awaiting Food and Drug Administration approval. Despite being rejected by the FDA once before, in January 2011, speculators appear to be gaining confidence that Afrezza will fare better this time around, pushing MannKind shares higher. Mann’s net worth has benefitted from this recent bounce accordingly, growing by $11.3 million week over week. The chairman and CEO’s shares have gained 10.5% since last Friday, and are now worth $119.5 million.

http://www.forbes.com/sites/edwindurgy/2012/06/29/who-got-rich-this-week-a-for-profit-educator-an-insulin-inhaler-maker-and-more/#comment-280