MNKD stock: Over 29% share price drop - MNKD -29.77%

 MNKD stock - Skip this one 

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convertible arbitrageurs buy convertible debt and short the underlying common stock. Negative “announcement” effects of convertible bond issue may partly reflect temporary price pressure associated with arbitrage-induced short selling upon convertible bond issuance.

$MNKD
+ Schwab upgrade,
+ $175M bond offering,
+ $100M facility sale/lease-back,
+ royalties commencing EOY,
+ Afrezza Revs climbing, ...

Simply Wall St

Mon., March 1, 2021, 1:47 a.m.

While some are satisfied with an index fund, active investors aim to find truly magnificent investments on the stock market. When you buy and hold the right company, the returns can make a huge difference to both you and your family. For example, the MannKind Corporation (NASDAQ:MNKD) share price rocketed moonwards 350% in just one year. Also pleasing for shareholders was the 92% gain in the last three months. The company reported its financial results recently; you can catch up on the latest numbers by reading our company report. It is also impressive that the stock is up 102% over three years, adding to the sense that it is a real winner.

CRMD stock - I plan to purchase $500 dollars 

Shares of CorMedix (NASDAQ:CRMD) were crashing 40.4% as of 12:23 p.m. EST on Monday. The steep decline came after the company announced that the Food and Drug Administration isn't approving CorMedix's Defencath, an antibacterial/antifungal catheter lock, for preventing blood infections associated with the use of catheters in hemodialysis.

So what

Many investors were banking on Defencath receiving a thumbs-up from the FDA. The massive sell-off of the biotech stock today isn't a surprise considering the disappointing news.

The FDA's Complete Response Letter (CRL) mentioned concerns at CorMedix's third-party manufacturing facility but didn't provide details. The agency is also requiring that the company conduct a manual extraction study to show that the volume on the label on vials can be consistently withdrawn from the vials.

There were some positives for CorMedix, though. The FDA didn't request any additional clinical data. It didn't point out any safety or efficacy issues with Defencath. Most important of all, the company still has a path to potential approval.