The net loss for the first half of 2010 was $87.0 million, or $0.77 per share based on 113.1 million weighted average shares outstanding, compared with a net loss of $115.0 million, or $1.13 per share based on 102.2 million weighted average shares outstanding, for the first half of 2009.

Cash, cash equivalents and marketable securities were $30.8 million at June 30, 2010 and $32.5 million at December 31, 2009. As of June 30, 2010, the Company had $108.0 million of available borrowings under the loan agreement with an entity controlled by the Company's principal stockholder.

"The second quarter was particularly busy, as we prepared for our meeting with the FDA and then submitted our response to the agency's Complete Response letter of March 2010," said Alfred Mann, Chairman and Chief Executive Office of MannKind Corporation. "With a Class 2 designation for this resubmission, our focus for the next six months will be to work closely with the FDA as it evaluates our next-generation delivery system and the other information that we provided in our resubmission. In the coming months, we will also initiate the installation and validation of equipment for the new device in our Danbury, Connecticut manufacturing facility. Everyone at MannKind is committed to the goal of making AFREZZA available to patients as soon as possible."

SOURCE MannKind Corporation