Oppenheimer lowered the firm’s price target on MannKind (MNKD) to $10 from $15 and keeps an Outperform rating on the shares after removing MNKD-101/NTM from its pipeline valuation. The firm cites discontinuation of the Phase 3 ICoN-1 trial for nontuberculosis mycobacterial lung disease after a review by the Data Safety Monitoring Board determined that proceeding with the study would be futile as no sputum culture conversions were observed.
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