Analyst Suggests MannKind Could Receive FDA Approval for Afrezza If Trials Pass

About one hour after the open MannKind MNKD shares are trading down about 4 percent despite some bullish views from an analyst at Summer Street. The analyst believes MannKind's new drug Afrezza is ready for approval by the FDA -- with one catch: the drug needs to pass two trials with flying colors. The trials may show some risk of hypoglycemia and other cardiovascular risks, but won't consider pulmonary inflammation or lung cancer, according to the Summer Street analyst. Summer Street highlighted a survey taker suggesting there is an 85 percent chance Afrezza in type 1 diabetes will meet endpoint benchmarks of non-inferiority to injectable insulin. Summer Street is "much more optimistic" on the current trials potentially allowing for FDA approval.