MannKind Corp. stock rose 2.6% after a study showed its inhaled insulin drug Afresa had positive results in a small study of diabetes patients.
Shares rose 25 cents to $10.05. The Valencia company has almost tripled in value so far this year.
Afresa is designed to compete with injectable insulin. The U.S. Food and Drug Administration is scheduled to decide by Jan. 16 on the company’s application to sell the treatment, MannKind has said.