MannKind Corporation Reports Third Quarter Financi...( - Conference Call To...),Health

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VALENCIA, Calif., Nov. 7 /PRNewswire-FirstCall/ -- MannKind Corporation (Nasdaq: MNKD) today reported financial results for the third quarter ended September 30, 2007.

For the third quarter of 2007, total operating expenses were $75.6 million, compared to $61.1 million for the third quarter of 2006. A substantial portion of this increase was attributed to increased research and development (R&D) expenses which totaled $64.8 million for this quarter compared to $50.8 million for the same quarter in 2006. These increased R&D costs were associated with the Company's expanded clinical development program and the associated manufacturing costs (including clinical supplies) for Technosphere Insulin. General and administrative (G&A) expenses increased by $0.4 million to $10.7 million for the third quarter of 2007 compared to the third quarter of 2006. This increase was due primarily to the increased number of employees.

For the first nine months of 2007, operating expenses totaled $228.3 million, compared to $162.0 million in the first nine months of 2006. R&D expenses were $190 million, up $58.0 million as compared to the first nine months of 2006, again primarily related to the Company's expanded clinical development program and the associated manufacturing costs (including clinical supplies) for Technosphere Insulin. G&A expenses increased by $8.3 million to $38.2 million for the first nine months of 2007 compared to the first nine months of 2006 primarily related to the increased number of employees and increased professional fees.

The net loss for the third quarter of 2007 was $73.0 million, or $0.99 per share, based on 73.5 million weighted
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