MannKind reported a net loss for the second quarter of 2009 of $55.6 million, or $0.54 per share, compared to a net loss of $79.8 million, or $0.79 per share, for the second quarter of 2008. The net loss for the first half of 2009 was $115 million, or $1.13 per share, compared to a net loss of $151.2 million, or $1.49 per share for the first half of 2008.
For the second quarter of 2009, the company recorded total operating expenses of $53.4 million, compared to $80.9 million for the second quarter of 2008. For the first six months of 2009, operating expenses totaled $111.2 million, as compared to $154.9 million in the first half of 2008.
Alfred Mann, chairman and chief executive officer, MannKind, said: The highlight of the last quarter was the acceptance by the FDA of our NDA submission for AFRESA. But even as we reached this important milestone, development activities were already underway for our next-generation delivery system, which we unveiled in June. We have completed two Phase 1 clinical studies using the new device and we plan to begin additional studies before the end of September. We are proud of the work done by our pharmaceutical technology development group and want to get their innovations into the hands of patients as soon as possible.