U.S. health advisers on Tuesday recommended approval of MannKind's inhaled diabetes drug, and said the experimental treatment could help some patients, especially those wary of needles typically used with traditional insulin therapy.
Shares of Mannkind soared nearly 90 percent in pre-market trading on the news. (Click here to see the latest quote.)
The Food and Drug Administration's panel of outside advisers said that while the therapy, called Afrezza, did not appear as beneficial for adults with type 1 diabetes, it was clearly safe and effective for those with the more common type 2 form of the chronic disease.
Overall, it voted 13-1 to recommend approval for patients with type 1 diabetes and unanimously backed it for those with type 2, adding that longer-term studies would still be needed to monitor possible side effects such as lung cancer.
Watch Mannkind CFO Matthew J. Pfeffer on CNBC's "Power Lunch" at 1 p.m. ET
According to the American Diabetes Association, more than 25 million U.S. children and adults have diabetes, a chronic condition that affects insulin needed for digestion and impacts blood sugar levels. Just 5 percent of those—mostly children and young adults—have type 1 diabetes where the body does not make insulin. The rest have type 2, which is caused as the body slowly stops responding to insulin and is caused by overeating, a lack of exercise and other factors.
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