Just weeks ago, the future -- both short and long term -- looked bright for MannKind (MNKD), even given the FDA setback from earlier this year when Afrezza was denied for approval yet again. Optimism was there from the investor base that some of the long road to an Afrezza approval would be shortened after a recent meeting with the FDA, and at the very least, investors were looking for an update on a potential partnership deal.
After Afrezza's latest denial, a potential partnership was mentioned by MannKind as a logical course of action to bring the product to market, and the quarterly conference call seemed as good a time as any to update investors on any progress made on that front.
During the earnings call, however, investors got neither good news on the FDA front, as the FDA continued to insist on additional trials (it had been speculated by some that the FDA would allow a conditional approval utilizing the first generation inhaler), nor good news on the partnership front. In fact, the company mentioned in the call that a partnership had not been seriously pursued as of yet, since the FDA follow-up meeting had not yet taken place.
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