This is from M2 Global(MNKD's biggest fan):

"We have stepped back from Mannkind (MNDK). We still believe that there is a significant long-term opportunity, however, the continued inability to address the long-term viability of the capital structure while in Phase III trials for their first product, Afrezza, leaves the stock technically open to gap downs. We have largely avoided the most recent, and are now price vigilant; however we believe the long-term warrants make more sense for large positions given the risk/leverage ratio and the bi-polar nature of an FDA review which may not start for another year.

Diabetes is a complicated disease and is becoming a major global health hazard that will cost hundreds of billions to treat. We believe that Mannkind’s Afrezza will fit into the treatment regimen for a wide array of patients in the future.

Nevertheless, we are constantly doing research on the topic and will continue to advise. Those interested in more information can take a look at a recent study published in the New England Journal of Medicine to see just how complicated the disease is for children in example."

http://finance.paidcontent.org/paidcontent/news/read/21407474/facebook_confronts_the_law_of_big_numbers