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UPDATE 1-MannKind posts narrower-than-expected Q3 loss

Mon Nov 2, 2009 4:30pm EST

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* Q3 loss/shr $0.42 vs yr-ago loss $0.67/shr

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* R&D expense fall 45 pct

Nov 2 (Reuters) - MannKind Corp (MNKD.O) posted a narrower-than-expected quarterly loss, helped primarily by lower research and development expenses.

For the third quarter, the company reported a net loss of $45.6 million, or 42 cents a share, compared with a loss of $68.5 million, or 67 cents, a year ago.

Analysts expected the company to post a loss of 48 cents a share, according to Thomson Reuters I/B/E/S.

Research and development expenses fell 45 percent to $30.5 million due to reduced costs associated with the clinical development of inhaled insulin product, Afresa.

Shares of the company closed at $5.30 Monday on Nasdaq.

For the alerts, double-click [ID:nWNAB8497] (Reporting by Anand Basu in Bangalore; Editing by Anil D'Silva)

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