Why MannKind Corporation Stock Broke Down in April

Why MannKind Corporation Stock Broke Down in April

Source: 
Motley Fool
News Tags: 
snippet: 

MannKind Corporation (NASDAQ:MNKD), the maker of the inhaled insulin product Afrezza, had yet another bad month in April. Specifically, the biotech's shares lost a quarter of their value last month, according to S&P Global Market Intelligence

What sent MannKind's stock spiraling downwards? On April 6, the biotech announced another secondary offering of common stock and warrants in an effort to raise a mere $28 million.