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FDA Cancels Mannkind Meeting on Shutdown Danger

From Associated Press (April 8, 2011)

VALENCIA, Calif. -- Biopharmaceutical company MannKind Corp. said Friday that its end-of-year review meeting with the U.S. Food & Drug Administration has been cancelled due to the possibility of a federal government shutdown.

The company was to meet with the FDA next Friday. The FDA intends to reschedule, MannKind said.

MannKind said it will provide more information during a conference call with analysts after it releases its first-quarter financial results on April 25.

MannKind is seeking government approval for its inhaled insulin treatment, Afrezza.

In January, the FDA told the company to run additional clinical trials on the drug.

A month later, the company announced it would lay off 179 workers, or 40 percent of its work force, in a bid to conserve cash.

MannKind shares fell 4 cents to $3.60 in aftermarket trading. The shares ended the regular session down a penny at $3.64.

Posted: April 2011