Shareholders To Inhale Relief As MannKind Found Its Bright Insulin Supply Partner Amphastar
August 6 2014 witnessed Mannkind (NASDAQ: MNKD) Corporation's 8-K filling with the Security Exchange Commission, disclosing Amphastar Pharmaceutical as its recombinant human insulin supply partner.
Under the terms of the Supply Agreement, Amphastar will be responsible for manufacturing the Insulin in accordance with MannKind’s specifications and agreed-upon quality standards.
The news was both surprising and optimistic to shareholders, thereby, catalyzed the after hours trading of Mannkind up by more than 2.7 percent. However, MannKind gave back its gain during today trading session. As of 12:25 pm ET, 2.73 million shares traded hands in the range of $8.12 to $ 8.30.
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Disclosure: I am long on Mannkind.
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