MannKind's Overly-Optimisitic Investors

Despite issues, over half of investors in a Motley Fool poll thought MannKind's inhaled insulin, Afrezza, would be approved this week.

Brian Orelli
Brian Orelli
Apr 14, 2014 at 4:44PM
Health Care

Last week, MannKind (NASDAQ:56400P706) announced that the Food and Drug Administration was delaying a decision about whether to approve its inhaled insulin Afezza by three months.

Investors seemed surprised, with shares falling 8% on Monday, although it made all that and more back in the following two days.

Despite issues with limited time between the advisory committee meeting and the FDA decision date as well as a controversy over conversion between inhaled Afrezza and its injected counterparts from Novo Nordisk (NYSE:NVO) and Eli Lilly (NYSE:LLY), a majority of investors in a Motley Fool poll thought the FDA would approve Afrezza this week.

In the video below, Fool contributor Brian Orelli and health-care bureau chief Max Macaluso discuss the reason straw polls tend to be more positive than they probably should be, and they give their thoughts on the likelihood of approval by July 15.