We expect G&A expenses to increase during the remainder of 2008 as a result of increased salary and stock-based compensation related expenses and professional service fees.
The net loss for the second quarter of 2008 was $79.8 million, or $0.79 per share, based on 101.4 million weighted average shares outstanding. This compares to a net loss of $72.0 million, or $0.98 per share, based on 73.4 million weighted average shares outstanding for the second quarter of 2007.
The net loss for the first half of 2008 was $151.2 million, or $1.49 per share based on 101.4 million shares outstanding, compared with a net loss of $145.1 million, or $1.98 per share based on 73.4 million shares outstanding, for the first half of 2007.
Cash and cash equivalents were $180.5 million at June 30, 2008, $269.1 million at March 31, 2008 and $368.3 million at December 31, 2007.
"This is an exciting time for MannKind Corporation," commented Alfred Mann, Chairman and CEO. "We are only about three weeks from completion of our final two pivotal trials for Technosphere Insulin. Importantly, our team was satisfied with the outcome from our July 14 pre-NDA meeting with the FDA. Our science, preclinical and clinical programs have enabled us to target year-end to complete preparation of the NDA, though that is an aggressive target."
Hakan Edstrom, President and COO, added, "Our new Danbury factory is
virtually complete and we are looking forward to the dedication on
September 17. This factory is being equipped in modular steps to meet our
expected demand for Technosphere Insulin. Our other products are also
moving forward, and clinical progress for our GLP-1 formulation and two
cancer vaccines continues to be ve
|SOURCE MannKind Corporation|
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