On Monday, Shares of MannKind Corp. (NASDAQ:MNKD), lost -4.72% to $3.63, hitting its lowest level.
MannKind Corporation, stated financial results for the first quarter ended March 31, 2015.
For the first quarter of 2015, total operating expenses were $21.7 million, a decline of 47.5% contrast to the similar quarter in 2014. Research and development expenses were $9.4 million, a decline of 64.2% contrast to the first quarter of 2014, reflecting the commercialization of Afrezza in the first quarter of 2015 and a reduction in non-cash stock compensation expense. General and administrative expenses were $10.5 million, a decline of 31.2% contrast to the first quarter of 2014, mainly reflecting lower non-cash stock compensation expenses.
For the quarter ended March 31, 2015, our portion of the loss sharing arrangement with Sanofi related to Afrezza was $12.4 million, which we financed by way of an advance under the loan facility with our partner. The amount outstanding under the Sanofi loan facility is now $15.4 million. During the three months ending on March 31, 2015, we recorded $7.1 million in Afrezza product shipments as deferred product sales from our partnership with Sanofi.
The net loss for the first quarter of 2015 was $30.7 million, or $0.08 per share based on 398.9 million weighted average shares outstanding, contrast with a net loss of $52.1 million, or $0.14 per share based on 368.8 million weighted average shares outstanding for the first quarter of 2014. The number of common shares outstanding at March 31, 2015 was 409.1 million.
MannKind Corporation, a biopharmaceutical company, focuses on the discovery, development, and commercialization of therapeutic products for diabetes in the United States. Its lead product is AFREZZA inhalation powder, an insulin to control high blood sugar in adult patients with type 1 and type 2 diabetes. MannKind Corporation was founded in 1991 and is headquartered in Valencia, California.
Shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH), declined -0.65% to $62.68, during its last trading session.
Cognizant Technology Solutions, declared its first quarter 2015 financial results.
Highlights—First Quarter 2015
- First quarter revenue of $2.91 billion was up 20.2% from the year-ago period and up 6.2% sequentially.
- GAAP diluted EPS was $0.62, up from $0.57 in the year-ago period.
- Non-GAAP diluted EPS was $0.71, up from $0.62 in the year-ago period.
- Net headcount addition for the quarter was about 6,200.
2015 Outlook—Second Quarter and Full Year
The Company is providing the following guidance:
- Second quarter 2015 revenue predictable to be at least $3.01 billion.
- Second quarter 2015 non-GAAP diluted EPS predictable to be at least $0.72.
- Fiscal 2015 revenue predictable to be at least $12.24 billion, up at least 19.3% contrast to 2014.
- Fiscal 2015 non-GAAP diluted EPS predictable to be at least $2.93.
Cognizant Technology Solutions Corporation provides information technology (IT), consulting, and business process services worldwide. The company operates through four segments: Financial Services, Healthcare, Manufacturing/Retail/Logistics, and Other.
At the end of Monday’s trade, Shares of CVS Health Corporation (NYSE:CVS), lost -0.17% to $100.49.
CVS Health Corporation, released its eighth annual Corporate Social Responsibility (CSR) Report, which outlines the company’s progress against its CSR strategy, Prescription for a Better World, and the strategy’s key pillars: Health in Action – focused on building healthy communities, Planet in Balance – focused on protecting the planet, and Leader in Growth – focused on creating economic opportunities.
CVS Health Corporation, together with its auxiliaries, provides integrated pharmacy health care services in the United States. The company operates through Pharmacy Services and Retail Pharmacy segments. The Pharmacy Services segment offers pharmacy benefit administration services, such as plan design and administration, formulary administration, Medicare Part D services, mail order and specialty pharmacy services, retail pharmacy network administration services, prescription administration systems, clinical services, disease administration programs, and medical pharmacy administration services.
Finally, Medtronic plc (NYSE:MDT), ended its last trade with -0.25% loss, and closed at $76.02.
Medtronic, declared its plan of notable clinical studies that will be presented at Heart Rhythm 2015, the Heart Rhythm Society`s 36th Annual Scientific Sessions in Boston, counting two late-breaking clinical trials featuring the Evera MRI® SureScan® implantable cardioverter-defibrillator (ICD) System and Micra® Transcatheter Pacing System (TPS).
Results from the Medtronic Evera MRI Clinical Trial - the world`s first randomized clinical study to evaluate the safety and efficacy of an ICD that allows for full-body magnetic resonance imaging (MRI) scans - will be presented at the annual meeting`s late-breaking clinical trials sessions on Thursday, May 14, 2015. Presently, patients with ICDs are contraindicated by the U.S. Food and Drug Administration (FDA) from receiving MRI scans because of potential interactions between the MRI and device function. The Evera MRI ICD System is presently investigational in the U.S.
The initial results of the Micra TPS Global Clinical Trial will kick-off Friday`s late-breaking clinical trials session. The world`s smallest pacemaker, Micra TPS is delivered with minimally invasive techniques through a catheter, and implanted directly into the heart. Micra TPS received CE (Conformité Européenne) Mark in April 2015.
Medtronic plc, a healthcare solutions company, provides medical technologies, services, and solutions worldwide. It operates through three segments: Cardiac and Vascular Group, Restorative Therapies Group, and Diabetes Group.
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