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MannKind's Afrezza fares well in late-stage trials

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VALENCIA, Calif. (AP) -- Drug developer MannKind says its inhaled insulin Afrezza met the main goals behind two late-stage studies involving patients with two types of diabetes.

The Valencia, Calif., company says type 2 diabetes patients taking Afrezza and the widely used generic drug metformin saw better reductions in long-term blood sugar levels than those taking an oral medication.

Afrezza also produced reductions in blood sugar levels comparable to an insulin treatment in patients with type 1 diabetes.

MannKind Corp. has no drugs on the market and has been trying to win approval for Afrezza for years. The Food and Drug Administration told the drug developer in early 2011 to run more clinical studies on Afrezza.

Shares of the company are up more than 23 percent, or $1.59, to $8.45 before markets opened.

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