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MannKind (MNKD) Hits 52-Week High As Afrezza FDA Approval Approaches

NEW YORK (TheStreet) -- MannKind  (MNKD) surged to a 52-week high of $11.11 on Thursday on high volume as the impending July 15 date for FDA approval of the company's inhaled insulin drug Afrezza approaches.

Wednesday marked what was likely the first day of significant momentum trading on MannKind with a little more than a month to go before the anticipated approval date.

The stock hit the high shortly after the market opened Thursday but then dropped below its open price of $10.90. The stock was down 2.75% to $10.25 at 10:19 a.m.

Must Read: The Expected Rise and Inevitable Fall of MannKind

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

For more on this story, read TheStreet's Adam Feuerstein's article here. MNKD Price Chart

MNKD Price data by YCharts

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

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