VALENCIA, Calif.--(BUSINESS WIRE)--MannKind Corporation (Nasdaq: MNKD) today reported financial results for the fourth quarter and year ended December 31, 2011.
For the fourth quarter of 2011, total operating expenses were $30.6 million, compared to $32.1 million for the fourth quarter of 2010, a decrease of $1.5 million. Research and development (R&D) expenses were $20.2 million for the fourth quarter of 2011 compared to $24.2 million for the same quarter in 2010, a decrease of $4.0 million. This 16% decrease was primarily due to the termination of our insulin supply agreement as the Company did not purchase insulin in the current quarter, partially offset by an increase in clinical trial related activities as two clinical trials were initiated in the fourth quarter of 2011. General and administrative (G&A) expenses increased by $2.4 million to $10.3 million for the fourth quarter of 2011 compared to $7.9 million in the fourth quarter of 2010.
