Orlando, FL -- (SBWIRE) -- 09/11/2013 -- Hot Stock Profits provides investors and traders with valuable trading tools and content as well as micro-cap stock alerts via eMail and text messages. To Join Our Text Message Alerts Service Just Text The Word Stocks To 555888 From Your Cell Phone. Our Focus Today Is On MannKind Corporation(NASDAQ:MNKD), Arena Pharmaceuticals, Inc. (NASDAQ:ARNA).
MannKind Corporation(NASDAQ:MNKD) shares jumped 1.17% to $6.05. The company on August 14 reported positive preliminary results from Study 171, a Phase 3 clinical study of AFREZZA Inhalation Powder, an investigational, ultra rapid-acting mealtime insulin therapy, administered using MannKind's next-generation (Gen2) inhaler (also known as the Dreamboat™ inhaler), in patients with type 1 diabetes.
Additionally, the company was scheduled to present at Morgan Stanley Global Healthcare Conference on September 10, 2013 at 3:30 PM (ET) at the Grand Hyatt Hotel in New York City.
Moreover, the company on August 9 reported financial results for the second quarter ended June 30, 2013. The net loss for the second quarter of 2013 was $46.1 million, or $0.16 per share, as compared with a net loss of $36.6 million, or $0.23 per share based on 159.9 million.
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Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) stock jumped 0.32% to $6.34. The company on August 28 announced the completion of a Phase 1b clinical trial for APD811, an investigational oral prostacyclin (IP) receptor agonist intended for the treatment of pulmonary arterial hypertension (PAH). The company plans to initiate a Phase 2 clinical trial for APD811 in the first quarter of 2014.
Additionally, ARNA’s stock was upgraded by Zacks from a “neutral” rating to an “outperform” rating in a note issued to investors on August 5. The firm currently has a $7.40 price objective on the stock.
Moreover, the company on August 1 provided a corporate update and reported financial results for the second quarter ended June 30, 2013. Second quarter revenues totaled $68.9 million, including $1.3 million in net product sales and $65.5 million in milestone payments. Net income allocable to common stockholders was $40.1 million, or $0.18 per share. At June 30, 2013, cash and cash equivalents totaled $178.9 million and approximately 218.2 million shares of common stock were outstanding.
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