MannKind Corporation (NASDAQ: MNKD) Has a CEO Worth Noting

MannKind Corporation is focused on the discovery, development and commercialization of therapeutic products for patients with diseases such as diabetes and cancer. MannKind Corporation has been getting noticed by both investment newsletters and call buyers. For starters, the CEO and 40% shareholder of MannKind Corporation is Al Mann who became a billionaire by founding a series of successful startups that were sold off to larger companies – including Minimed (an insulin pump maker) that was acquired by Medtronic. MannKind Corporation also has a drug platform plus several products in the pipeline, including AFREZZA, an inhalable insulin that thus far, the FDA appears to have no issues with (it has recommended a study on kids as young as 4 years old). However, MannKind Corporation has reported no revenues yet along with net losses of $160.80M (2011), $170.56M (2010), $220.10M (2009) and $303.04M (2008) for the past four years plus it reported having $56.70M in cash and short-term investments at the end of the first quarter to cover $528.81 in total liabilities. That’s not reassuring but then again, one good drug approval could quickly reverse MannKind Corporation’s financials. On Monday, MannKind Corporation fell 1.12% to $1.76 (MNKD has a 52 week trading range of $1.57 to $4.30 a share) for a market cap of $295.33 million but the stock is down 29% since the start of the year, down 55.6% over the past year and down 84.6% over the past five years – meaning Al has probably loss a considerable amount of money but he could just as easily end up with the last laugh given his track record.

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