For the full year ended December 31, 2011, total operating expenses were $140.6 million compared to $152.6 million for 2010. R&D expenses were $100 million in 2011, down $12.3 million from 2010 primarily due to lower purchases of raw materials as a result of the termination of our insulin supply agreement. We repurchased only 8.4 million of insulin in 2011 compared to 16.3 million in 2010. We also incurred reduced salary and other compensation expenses as a result of a reduction in force in February 2011.G&A expenses were relatively flat, increasing by $0.3 million to $40.6 million for 2011 as compared to 2010, with lower salaries and benefits costs from the 2011 reduction in force offset by increased financing transaction costs and legal fees.
MannKind's CEO Discusses Q4 2011 Results - Earnings Call Transcript
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