MannKind Corporation (NASDAQ:MNKD) stock is still on the rise following the announcement of its deal with One Drop.
Corporation announced last Thursday that it had signed a deal with One Drop to be included in its service. One Drop is a subscription service that offers unlimited blood glucose testing supplies and around-the-clock live support from diabetes experts.
The deal between MannKind Corporation and One Drop includes the former’s Afrezza in the latter’s service. Afrezza is a rapid-acting insulin that has been developed by MNKD. Rather than being administered through injection, it comes in the form of an inhaler.
The deal includes the company in the One Drop | Chrome subscription service, which is available through Alphabet Inc’s (NASDAQ:GOOG,GOOGL) Android, Amazon.com, Inc. (NASDAQ:AMZN) app offerings and Apple Inc.’s (NASDAQ:AAPL) App Store.
Following news of MannKind Corporation’s deal with One Drop, MNKD stock started to rise. From May 4, the day the deal was announced, to today, May 10, 2017, the stock has gone up by 128%. The stock is currently up 42% as of noon Wednesday, but is still down 49% year-to-date.
It is also possible that the stock is on the rise as investors prepare for a possible sale of the company. There is speculation that MannKind Corporation would be a great acquisition for a big pharmaceutical company as an entry into the diabetes market.
MannKind Corporation is currently planning to hold an annual meeting next week. The company may reveal its plans in more detail at this time. It is also possible that its management will reveal that it is considering offers from other companies for an acquisition. This speculation may be part of what is fueling the stock it rise, reports Insider Financial.