Is MannKind (MNKD) Ready to Hit $10 After The Breakout?

The MannKind Corporation (NASDAQ: MNKD) has been on a slow but steady move over the course of the past two weeks following an announcement from the company back on March 16, 2021.

During the past two weeks, the stock has rallied by as high as 30% and it is likely that it is going to come into sharp focus among investors in the coming days. The company announced that on March 15, 2021, it closed the option of initial purchasers option to take up more convertible senior notes in the company.

It is a significant development and raised as big as $30 million. Hence, it is easy to see why investors might have been excited with regards to the MannKind stock over the recent weeks. The company estimated that it managed to rake in net proceeds of $222.9 million in total approximately. The notes in question are going to run up interests at the rate of 2.50% per year.

Anthony Gonzales

Biotech, Tech, and Crypto reporter Anthony Gonzales brings 3 years of experience in helping grassroots, mid-sized organizations and large institutions strengthen their management and resource generating capacities and effectively plan for the future. He is also a mentor and professional advisor to artists working in all disciplines. He is the gold medalist from St. Marco University of Science and Technology in the Bachelors of Financial Management as well.

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