After the company reported its financial results for first fiscal quarter of 2021 yesterday, the MannKind Corporation (NASDAQ:MNKD) stock has jumped by 3% this morning.
The company managed to generate revenues of $17.1 million in Q1 2021, which represented a year on year jump of 7%. On the other hand, MannKind also managed to raise a total of $230 million in the form of gross proceeds through 2.5% convertible notes. As of the end of the quarter on March 31, 2021, the company had cash, investments and cash equivalents to the tune of $278.3 million in its books.
In this regard, it is also necessary to point out that the net revenues from Afrezza came in at $8.1 million, which reflected a rise of 1% from the year-ago period. MannKind spent $2.4 million towards research and development expenditure in the first quarter, which was higher than the $1.8 million it spent for the same purpose in Q1 2020.
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Living in the era of dynamic tech change Alex decided to stay tuned in changes that make any person find comfort and adapt to new devices. Furthermore, gaming became his passion for spending leisure time with his close ones. Although, he has a degree in Business Administration (majoring in Finance) writing for technology and as well as finance has been one of the precious aspects of his life