MannKind Corp. said on Thursday that it had laid off 179
people — 41 percent of its workers — as it tries to conserve resources while it
seeks government approval for its inhaled insulin, Afrezza. It also reported a
$38.3 million quarterly loss
Last month the FDA told MannKind to run additional clinical
trials on the drug.
MannKind said it would also review its projects and spending
priorities while it does the clinical trials, and would restructure the company
to focus on getting approval for Afrezza. It said it was asking for guidance
from the FDA about what’s next for the drug.
The company said its net loss for the quarter that ended
Dec. 31 was 33 cents per share. During the same period last year it lost $59.5
million, or 53 cents per share. It did not report any revenue during either
Analysts surveyed by FactSet expected a fourth-quarter loss
of 38 cents per share.
For the full year, it lost $170.6 million, or $1.50 per
share. In 2009 it lost $220.1 million, or $2.07 per share.
MannKind shares fell 17 cents, or 3.4 percent, to $4.89 in