MannKind Corp. Q4 Loss Misses Estimates

(RTTNews) - MannKind Corp. (MNKD), a developer of therapeutic products for treatment of diseases such as diabetes, Tuesday reported a wider net loss for the fourth quarter, hurt by higher non-cash stock compensation expense, professional legal and financial fees, and research and development costs. The loss also missed analysts' estimates.

For the fourth quarter, net loss widened to $53.58 million from a loss of $51.78 million a year earlier. Loss per share narrowed to $0.16 from $0.23 per share last year.

On average, 7 analysts polled by Thomson-Reuters estimated the company's loss to be $0.14 for the quarter. Analysts' estimates typically exclude one-time items.

General and administrative expenses increased to $17.63 million from $8.21 million a year ago, mainly due to a $6 million increase in non-cash stock compensation expense and higher profession legal and financing fees of $2.2 million.

Research and development expenses rose to $28.99 million from $25.27 million a year earlier.