MannKind Corporation ($MNKD) recently reported its financial results for the fourth quarter and full year. The company’s total revenue for the quarter stood at $12.4 million. Its net income for the quarter was reported at $54 million. For the full financial year, MannKind earned $174.8 million in revenue while its net income for the year touched $125.7 million, in comparison to the net loss of $368.4 million it had suffered in the previous financial year.
MannKind ended the year with $22.9 million of cash and cash equivalents. The figure did not include $30.6 million subsequently received from Sanofi and $16.7 million subsequently received from sale of surplus building. The company’s research and development costs for 2016 were $14.9 million compared to $29.7 million for 2015, a decrease of 49.8%.
The company stock, in contrast, is in the decline mode. It has lost over 42 percent of its value in the past one month, taking its 12 months loss to 81 percent. The company stock is currently trading at its 52 weeks low of $1.52. However, MannKind stock may see some pull back this year as it tries to recover from its debacles such as parting ways with Sanofi.