This might be old press release, but reposting to refresh memory of those who are probably new to mnkd.

http://www.news.mannkindcorp.com/phoenix.zhtml?c=147953&p=irol-newsArticle&ID=1128018&highlight=

As per Apr 10, 2008 press release, management basically states that there will be no partnership until they are able to validate efficacy and safety of TI upon Phase 3 trial data. Maybe this is an all together different clinical study, but the 2 ongoing trials do feed into the complete data MNKD hopes to present to potential partners.

But, well, the big picture is, mnkd management thinks that it is hard to put a value on their invention unless they are able to demonstrate complete trial data - which, by the way, is fair enough considering that they might be solving something that others have failed to in the past. Usually such pharma breakthroughs are much better valued when all the fact set is presented (case in point - Byudereon)

I don't mind being pleasantly surprised with some positive catalyst, but I believe we are not going to see any partnership until trial data from all current trials (171, 175) are available.