Health and Healthcare
MannKind Jumps After Amazon Prime Takes on One Drop
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MannKind Corp. (NASDAQ: MNKD) saw its shares make a massive gain on Monday after it was announced that its One Drop|Chrome is now available on Amazon Prime. Overall this is huge because the diabetes testing system is now being listed on perhaps the world’s largest online marketplace.
Last week MannKind announced a collaboration with One Drop to extend One Drop’s subscription service and digital health platform, by adding Afrezza as a rapid-acting insulin offering.
One Drop combines advanced diabetes technology with well-designed supplies to match modern lifestyle. The testing system ensures clinically proven accurate, reliable results in seconds. The meter then wirelessly transmits that blood glucose data via Bluetooth to the mobile app on the user’s iOS or Android device or Apple Watch.
One Drop incorporates proprietary technology with clinically proven accuracy, meeting all U.S. Food and Drug Administration (FDA) requirements. Testing in both clinical and laboratory settings has confirmed that 99% of blood glucose measurements taken with One Drop fall within 20% of lab results, and 95% of blood glucose measurements taken with One Drop fall within 15% of lab results.
Excluding Monday’s move, shares outperformed the broad markets with the stock up about 25% year to date. Over the past 52 weeks, the stock is actually down 39%.
Shares of MannKind were last trading up 29% at $1.03, with a consensus analyst price target of $0.54 and a 52-week trading range of $0.41 to $2.38.
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