WESTLAKE VILLAGE, Calif. (AP) _ MannKind Corp. (MNKD) on Wednesday reported a loss of $12.9 million in its first quarter.
The Westlake Village, California-based company said it had a loss of 5 cents per share.
The results did not meet Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 4 cents per share.
The biopharmaceutical company posted revenue of $17.4 million in the period, which topped Street forecasts. Three analysts surveyed by Zacks expected $16.1 million.
The company's shares closed at $4.44. A year ago, they were trading at $1.86.
The Associated Press