One Factor Driving MannKind (MNKD) Stock Down Today

NEW YORK (TheStreet) -- MannKind  (MNKD) dipped Thursday amid news that rival biopharmaceutical company Dance Biopharm had filed a $75 million IPO on Wednesday night as it seeks money to continue developing an inhaled insulin device.

MannKind's own inhaled insulin device, Afrezza, has been the subject of much coverage recently with an FDA decision upcoming. An FDA advisory panel issued a positive recommendation on Afrezza last week.

MannKind was down 4% to $6.72 at 2:39 p.m.

For much more on Dance Biopharm, be sure to read TheStreet's Adam Feuerstein's article here.

Must Read: MannKind Rival, Also Developing Inhaled Insulin Device, Files $75M IPO

Must Read: Oh Biotech, You Are a Cruel Bitch

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