MannKind falls as fire at contract manufacturer's plant to delay drug trial

MannKind

03/07/2023 13:30

** U.S.-listed shares of drugmaker MannKind Corp  MNKD.O 
down 1.5% at $4.01 premarket
    ** Co says, on June 26, it was informed that its contract
manufacturer responsible for production of experimental lung
disease drug experienced a fire in its manufacturing facility in
Germany
    ** Estimates production of clinical supplies for the drug,
MNKD-101, will be delayed by three to six months, which could
potentially impact initiation of a mid-to-late-stage study of
the drug 
    ** Co adds it is evaluating "several mitigation strategies"
and will update the projected timing for the clinical trial at a
later date
    ** As of last close, MNKD shares down ~23% YTD

 (Reporting by Raghav Mahobe)
 ((Raghav.Mahobe@thomsonreuters.com;))