Shares of MannKind Corporation (NASDAQ:MNKD) ended Thursday session in green amid volatile trading. The shares closed up +0.001 points or 0.13% at $0.698 with 1.91 million shares getting traded. Post opening the session at $0.69, the shares hit an intraday low of $0.68 and an intraday high of $0.72 and the price vacillated in this range throughout the day. The company has a market cap of $333.15 million and the numbers of outstanding shares have been calculated to be 478.05 million shares.
MannKind Corporation (MNKD) on Aug. 08, 2016 reported financial results for the second quarter and the six months ended June 30, 2016.
For the second quarter ended June 30, 2016, total operating expenses were $19.1 million as compared to $24.1 million for the same quarter in 2015. Research and development expenses were $4.3 million for the second quarter of 2016, a decrease of 44% compared to the second quarter of 2015, primarily due to a reduction in force in 2015 following the completion of Afrezza registration trials. Selling, general and administrative costs were $11.1 million for the second quarter of 2016, an increase of 5% compared to general and administrative costs for the second quarter of 2015, mainly due to sales and marketing expenses. Manufacturing of commercial product resumed in the second quarter of 2016, in preparation for the relaunch of Afrezza in the third quarter of 2016, resulting in the recognition of product manufacturing costs of $3.7 million for the three months ended June 30, 2016. With limited production and underutilization of the manufacturing facility in the same period of 2015, product manufacturing costs were $5.7 million for the second quarter of 2015 due to under absorbed labor and overhead.
Shares of Zoetis Inc (NYSE:ZTS) ended Thursday session in green amid volatile trading. The shares closed up +0.28 points or 0.56% at $50.60 with 1.72 million shares getting traded. Post opening the session at $50.65, the shares hit an intraday low of $50.51 and an intraday high of $50.75 and the price vacillated in this range throughout the day. The company has a market cap of $24.95 billion and the numbers of outstanding shares have been calculated to be 495.39 million shares.
Zoetis Inc (ZTS) on Sept. 14, 2016 announced the appointment of Kristin Peck to the company’s Board of Directors effective immediately.
“Kristin’s strategic and innovative business model experience has focused on global markets and deep customer interactions,” said David Thomson, chairman of Thomson Reuters. “Her passion for talent and leadership development bodes well for our future. We surely welcome Kristin’s perspective to our boardroom.”
Ms. Peck, 45, is Executive Vice President and President of U.S. Operations at Zoetis (ZTS), a NYSE-listed global leader in the discovery, development, manufacture and commercialization of animal health medicines and vaccines that was spun off by Pfizer in 2013. From October 2012 through April 2015, she served as Executive Vice President and Group President of Zoetis. Ms. Peck joined Pfizer in 2004 and held various positions, including Executive Vice President, Worldwide Business Development and Innovation; Senior Vice President, Worldwide Business Development, Strategy and Innovation; Vice President, Strategic Planning; Chief of Staff to the Vice Chairman; and Senior Director, Strategic Planning. Ms. Peck also served as a member of Pfizer’s Executive Leadership Team. Prior to joining Pfizer, she was a Principal at Boston Consulting Group. Ms. Peck is currently a member of the Advisory Board for the Deming Center for Quality, Productivity and Competitiveness at Columbia Business School.