MannKind Q1 Loss Widens; But Loss/shr Narrows - Quick Facts

(RTTNews) - MannKind Corp. (MNKD) said that net loss applicable to common stockholders for the first quarter of 2014 was $52.1 million or $0.14 per share, compared with a net loss applicable to common stockholders of $41.0 million, or $0.15 per share in the first quarter of 2013. Analysts polled by Thomson Reuters expected the company to report a loss of $0.13 per share for the quarter. Analysts' estimates typically exclude special items.

Research and development (R&D) expenses were $26.2 million for the first quarter of 2014, compared to $26.4 million for the corresponding quarter in 2013, a decrease of $0.2 million. General and administrative (G&A) expenses increased by $5.2 million to $15.2 million for the first quarter of 2014 compared to $10.0 million in the first quarter of 2013. The increase in G&A expenses was due to an increase in non-cash stock-based compensation expense of $3.4 million and $1.2 million in consulting and legal fees related to financing transactions.

Quarterly total operating expenses were $41.4 million, compared to $36.4 million for the first quarter of 2013, an increase of $5.0 million.

The company did not generate revenue for the latest and prior year quarter.