Categories
· Health/Science
· Lung Cancer
· Diabetes
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(Adds details on MannKind strategy, background, byline)
Jump to full article: Reuters, 2008-04-10
Author: Ransdell Pierson
Intro: MannKind Corp said on Thursday it was suspending talks with potential partners for its experimental form of inhaled insulin due to negative market sentiment about such products, given possible cancer risks of Pfizer Inc's Exubera product.
MannKind's experimental form of inhaled insulin, Technosphere Insulin, is begin tested in a broad group of patients with diabetes, but data from late-stage trials of the medicine have not yet been obtained.
"At this time, we believe that we will be unable to achieve an appropriate valuation for Technosphere Insulin until Phase 3 data are available that confirm our belief in the safety and efficacy" of the product, MannKind said in a release.
Shares of MannKind plunged 60 percent to $2.35 on Wednesday after Pfizer and its former partner, Nektar Therapeutics, said six of the 4,740 patients given Exubera in clinical trials developed lung cancer. That compared with one of the 4,292 patients in the same trials who did not receive Exubera.
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