NEW YORK (
shares ticked higher in a quiet after-hours session ahead of the Thanksgiving holiday.
There was no news released to drive the mild drift to the upside for the shares, but the company is slated to disclose its third-quarter results after Monday's closing bell in its first report since going public earlier this month.
The stock was last quoted at $42, up 2%, on volume of a little less than 62,000, according to
. The shares have more than doubled since making their debut on Nov. 2. The Israeli maker of a home soda production machines sold 5.45 million common shares at $20 each in its initial public offering.
SodaStream shares rose 6.1% to $41.21 on Wednesday, closing above $40 for the first time.
fell in extended trades, sliding 2.7% to $6.50 on volume of volume of almost 67,000. Based on a regular-session close at $6.68, the shares were down almost 28% year-to-date.
The Valencia, Calif.-based biotech, which is in the process of developing an inhalable insulin product called Afrezza, filed a Form 8-K with the
Securities and Exchange Commission
after the closing bell, saying that a former employee who had previously dropped a wrongful termination suit against it had now "submitted the matter to the American Arbitration Association for arbitration, re-asserting his prior claims."
In addition, MannKind said the employee, John Arditi, has also included a defamation claim with the arbitration demand and named Matthew Pfeffer, the company's chief financial officer, as an additional respondent.
We continue to believe Mr. Arditi's claims are without merit and intend to defend against them vigorously," MannKind said. Arditi had voluntarily dismissed the suit, which claimed he was fired because he had raised concerns about the company's clinical trials, without prejudice on Nov. 18.
MannKind commented on the lawsuit on Nov. 4, saying Arditi was terminated for "legitimate reasons unrelated to his claim of retaliation."
Written by Michael Baron in New York.
>To contact the writer of this article, click here:
>To submit a news tip, send an email to:
Disclosure: TheStreet's editorial policy prohibits staff editors, reporters and analysts from holding positions in any individual stocks.